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staina ilit and limate han e ndia and he orld 19.13 The overall aim of the fund is to support concrete renewable capacity expansion programme in the adaptation activities that reduce the adverse effects world. of climate change facing communities, sectors Major highlights regarding it are as given below: and states but are not covered under the ongoing (i) Renewable energy capacity target has schemes of state and central governments. The been increased to 175GW by the year adaptation projects contribute towards reducing 2022, out of which 100GW is to be from the risk of vulnerability at community and sector solar, 60 GW from wind, 10 GW from level. biomass and 5 GW from small hydro coAl cess AnD the nAtionAl cleAn energy funD power projects. (ii) The First RE-INVEST (Renewable Energy India is one of the few countries around the world Global Investment Promotion Meet and to have a carbon tax in the form of a cess on coal. Expo) were organized in February 2015 Not only has India imposed such a cess but it has to provide a platform for the global also been progressively increasing it (form Rs. 50 per tonne of 2010 to Rs. 200 by 2015–16 and investment community to connect with Rs. 400 by 2016-17). The NCEF (National Clean stakeholders in India. Energy Fund) which is supported by the cess on The objective of the RE-INVEST series of coal was created for the purposes of financing conference expos is to showcase India’s renewable and promoting clean energy initiatives, funding energy potential and the government’s efforts research in the area of clean energy and for any to develop and scale up the country’s installed other related activities. renewable energy capacity to meet the national energy requirement in a socially, economically Perform Achieve AnD trADe and ecologically sustainable manner. A total of The PAT (Perform Achieve and Trade) scheme 273,000 MW green commitments, including under the National Mission on Enhanced Energy 62,000 MW of renewable manufacturing, were Efficiency was introduced as an instrument received in the event. for reducing specific energy consumption in (i) The ISA (International Solar Agency) was energy-intensive industries with a market-based launched by India at COP 21 in Paris in mechanism that allowed the trading of ESCerts December 2015. The ISA will provide a (energy saving certificates). The ESCerts, issued by special platform for mutual cooperation the GoI, are traded through the power exchanges among 121 solar-resource-rich countries in the country. lying fully or partially between the Tropic of Cancer and Tropic of Capricorn. The reneWAble energy Secretariat of the ISA will be hosted by For India, renewable energy has become a major India. focus area. The GoI has set an ambitious target of (ii) Development of Solar Cities Programme achieving 40 per cent cumulative electric capacity is another ambitious scheme of India. from non-fossil fuel-based energy resources by Under it 56 solar cities projects have been 2030. India is currently undertaking the largest approved.