staina ilit and limate han e ndia and he            orld   19.11
            than 100 GW, the target is to achieve 60              from Rs. 5.8 per litre to Rs. 19.7 per
            GW of wind power and 100 GW of solar                  litre for branded diesel. The results of
            power installed capacity by 2022. Given               the climate change effort undertaken
            that in 2014 the world’s entire installed             by the major G-20 countries and India
            solar power capacity was 181 GW,                      are striking—the increase in petrol tax
            this target is extremely ambitious and                has been over 150 per cent in India.
            clearly places India as a major potential             In contrast, the governments of most
            renewable energy player (World Resource               advanced countries have simply passed
            Institute, October 2015).                             on the benefits to consumers, setting back
       (ii) India has also launched a historic                    the cause of curbing climate change. As
            International Solar Alliance (ISA) which              a result, India now outperforms all the
            is envisaged as a coalition of solar                  countries except those in Europe in terms
            resource-rich countries to address their              of tax on petroleum and diesel.
            special energy needs and will provide a          (vi) Having decisively moved from a regime
            platform to collaborate on addressing                 of carbon subsidies, it is now de facto
            the identified gaps through a common,                 imposing a carbon tax on petroleum
            agreed approach.                                      products at about US$ 150 per ton,
      (iii) Although there is lot of emphasis on                  which is about 6 times greater than the
            boosting the renewable energy sector,                 level recommended by the ‘Stern Review
            the INDC clearly state that coal would                on Climate Change’.
            continue to be the dominant source of           (vii) India is faring relatively better to other
            power generation in the future. However,              countries at comparable stages of
            the INDC incorporates a lot of initiatives            economic development in terms of the
            to improve the efficiency of coal-based               ‘share of fossil fuel use in overall energy
            power plants and to reduce their carbon               consumption’. India’s reliance on fossil
            footprint. Clean coal technologies would              fuels remains well below China (the most
            be critical to meeting the demand for                 relevant comparator) but also below the
            power generation in the future.                       US, UK and Europe at comparable stages
      (iv)  In addition to mitigation-related                     of development—this echoes India’s
            activities, the INDC also incorporates                commitment to never exceed the per
            adaptation-related activities. Out of the             capita emission of advanced countries.
            eight National Missions on Climate                Mobilising finance is critical to achieving the
            Change in India, five focus on adaptation    ambitious targets set by India. Preliminary estimates
            in sectors like agriculture, water and       suggest that at least US$ 2.5 trillion (at 2014-15
            forestry.                                    prices) will be required for meeting India’s climate
       (v)  Since June 2014, when international          change action under the INDC between now and
            oil prices started declining, India has      2030. While the maximum share of the country’s
            increased its excise duties from Rs.         current climate finance comes from budgetary
            15.5 per litre to Rs. 22.7 per litre as of   sources, India is not relying solely on them and
            December 2016 for branded petrol and         is experimenting with a careful mix of market