NITI Aayog and Netherlands sign SoI on ‘Decarbonization and Energy Transition Agenda’
NITI Aayog and Embassy of the Netherlands, New Delhi have signed a Statement of Intent (SoI) on 28 September 2020 in order to support the decarbonization and energy transition agenda to accommodate cleaner and more energy.
- The SoI was signed by NITI Aayog CEO Amitabh Kant and Ambassador of the Netherlands to India Marten van den Berg.
- With the SoI, NITI Aayog and the Dutch Embassy seek a strategic partnership to create a platform which will enable a comprehensive collaboration among stakeholders and influencers that also include policymakers, OEMs, industry bodies, private enterprises, and sector experts.
- The Primary focus of the partnership is on co-creating innovative technological solutions by leveraging the expertise of the two entities.
- The innovative technological solutions will be achieved through an exchange of knowledge and collaborative activities.
- Key elements of the SoI include:
- To lowering the net carbon footprint in industrial and transport sectors.
- To realise the target potential of natural gas and to promote bio-energy technologies
- To adopt clean air technologies from monitoring to reducing the actual particulates.
- To adopt next-generation technologies including hydrogen and carbon capture utilization and storage for sectoral energy efficiency .
- To set up financial frameworks so as to deliver and adopt climate change finance.
Significance of the deal
- Both India and the Netherlands have set up sustainable energy targets and they face similar issues in realizing cleaner energy transition goals. So, India’s expertise in deploying high-tech solutions in a cost-effective manner in combination with the Dutch expertise in low carbon technologies will strengthen the Indo-Dutch collaboration.
- As both India and the Netherlands work to transform their energy sector, SoI will help both the countries to move towards becoming climate-resilient economies.
- SoI meet the two objectives of generating economic growth and safeguarding the environment for future generations.
India’s Goal for energy transition
- India is committed to reduce emissions’ intensity by 33%–35% by 2030.
- Apart from emphasis on renewable energy, India also stands committed on the rapid adoption of electric vehicles.
Significance of Netherlands for India
The Netherlands and India have a long history of trade and investment. Netherlands is India’s sixth largest EU trading partner. 20% of India’s exports to the European continent goes through the Netherlands. Thus, Netherlands is India’s ‘gateway to Europe’. It is also one of the top five investors and the third largest source of Foreign Direct Investment for India.