Daily News Analysis

WORLD ECONOMIC FORUM

25th May, 2022 International Relations

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Context

  • The World Economic Forum (WEF) launches the India chapter of the Alliance of CEO Climate Action Leaders to supercharge India’s climate action and decarbonization efforts.
  • The Indian CEO’s Alliance has been launched to boost Prime Minister Narendra Modi’sPanchamrit’ pledge for Net Zero carbon emission by 2070.

Indian CEO Alliance

  • It will bring together the government, businesses, and other key stakeholders to achieve the Indian Prime Minister’s ambitious five-part ‘Panchamrit’ pledge.
  • A collaboration between the management consultancy Kearney and the Indian think-tank Observer Research Foundation, will serve as a high-level platform to support business leaders in planning and implementing plans and programmes to achieve climate targets, including net-zero economic growth.
  • It will leverage learnings and experiences from global projects such as the Alliance of CEO Climate Leaders and the First Movers Coalition.
  • The alliance has become part of India’s climate action agenda which includes, Trillion Trees, Moving India for rapid electric vehicle deployment, clean energy financing, Food Innovation Hubs, Stakeholder Capitalism matrices and Clean Skies for Tomorrow.

About Panchamrits

  • In the 26th Conference of Parties (CoP26) to the United Nations Framework Convention on Climate Change (UNFCCC), Prime Minister Narendra Modi announced the It includes:
    • India will get its non-fossil energy capacity to 500 gigawatts by 2030
    • India will meet 50 per cent of its energy requirements till 2030 with Renewable energy
    • India will reduce its projected carbon emission by one billion tonnes by 2030
    • India will reduce the carbon intensity of its economy by 45 per cent by 2030
    • India will achieve net-zero by 2070

 

About WEF

  • It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.
  • The World Economic Forum is the International Organization for Public-Private Cooperation.
  • The Forum engages the foremost political, business, cultural, and other society leaders to shape global, regional and industry agendas.
  • The Forum strives in all its efforts to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance.

https://newsonair.gov.in/News?title=World-Economic-Forum-launches-alliance-to-supercharge-India%26%2339%3bs-climate-action&id=441541