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illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: Sumant Sinha, CEO of ReNew and contributor to global energy policies, emphasizes the critical importance of accelerating the global transition to clean energy
• Nearly a decade after the Sustainable Development Goals (SDGs) were set, significant strides have been made in increasing access to electricity and renewable energy, though challenges remain in doubling energy efficiency
🔭 The context: The global commitment under SDG 7 aims for universal access to modern energy and a substantial increase in renewable energy share by 2030
• Sinha highlights India's notable successes in this area, including massive strides in electricity access and renewable capacity expansion, spurred by strong governmental support and strategic financial mobilization
🌍 Why it matters for the planet: The transition to clean energy is not just an environmental imperative but a significant economic opportunity
• Developing robust policies and mobilizing finance for renewable projects are crucial for reducing global carbon emissions and achieving sustainable development goals
⏭️ What's next: The focus is on learning from successful models like India's, developing multiple resilient supply hubs worldwide, and establishing a unified carbon market to streamline investments in renewable energy
• These steps are vital to meet the 2030 targets for sustainable and equitable global energy access
💬 One quote: "Recognising early that clean energy transition is an economic opportunity, India’s robust policies have made renewable energy projects profitable without the need for subsidies or public finance support," stated Sumant Sinha
📈 One stat: India has added over 150,000 MW of clean energy capacity since 2015, impacting 120 million people through improved electricity access
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