CURRENT AFFAIRS

Detailed explanation-1: -Gurugram, India, 31 October 2022: ReNew Energy Global PLC (“ReNew” or “the Company”, RNW, RNWWW: NASDAQ), India’s leading clean energy company, today announced its ESG targets including a commitment to hit net zero by 2040 through its latest sustainability report for FY 2021-22.

Detailed explanation-2: -Global action to combat climate change has prompted a wave of national commitments to reach net zero: the US and many others are targeting 2050, with countries like China and India decades later.

Detailed explanation-3: -The overall climate finance requirement by 2050 to achieve net zero emissions by 2070 will be in the order of tens of billions of dollars and around ₹85.6 trillion by 2030 for India’s adaptation needs, the document that runs into over 100 pages said.

Detailed explanation-4: -The Net Zero Emissions by 2050 Scenario (NZE) is a normative IEA scenario that shows a pathway for the global energy sector to achieve net zero CO2 emissions by 2050, with advanced economies reaching net zero emissions in advance of others.

Detailed explanation-5: -As a result of the aforesaid measures, India has progressively continued decoupling of economic growth from greenhouse gas emissions. The Net Zero target by 2030 by Indian Railways alone will lead to a reduction of emissions by 60 million tonnes annually.