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September 22, 2020 Tuesday 10:55:23 AM IST

IEA and NITI Aayog launch Special Report on Sustainable Recovery Post Covid-19

Education Information

Against the backdrop of the ongoing Covid-19 crisis, International Energy Agency (IEA), in collaboration with NITI Aayog, presented a ‘Special Report on Sustainable Recovery’ on 18 September 2020.  Part of IEA’s flagship World Energy Outlook series, the report proposes a number of actions that could be taken over the next three years to revitalize economies and boost employment while making energy systems cleaner and more resilient. The report was virtually launched by IEA Executive Director Dr Fatih Birol and NITI Aayog CEO Amitabh Kant, in the presence of Minister of Railways and Minister of Commerce and Industry Piyush Goyal.

IEA Chief Energy Modeller Laura Cozzi presented the key findings, and Chief Economic Adviser Krishnamurthy Subramanian was also present during the launch.  Congratulating the IEA, Union Minister Piyush Goyal said this is the right time to move forward and prepare ourselves for a resilient and sustainable future, as rightly pointed out in the report. He mentioned that the current crisis should be used as an opportunity to make energy transitions smoother, faster, more resilient and affordable. He added that to this end, Indian Railways is committed and confident for 100% electrification by December 2023 and becoming net zero emitter by 2030.

As governments around the world respond to Covid-19, the IEA’s report, prepared in cooperation with IMF, details energy-focused policies and investments that could help boost economic growth, create jobs and put emissions into structural decline while making energy systems lower-cost, secure and resilient. Chief Economic Adviser Dr KV Subramanian discussed India’s economic situation and path to recovery and mentioned that the pandemic has highlighted the role of sustainable economic development and India is at the forefront of this effort. The report mentions key sectors for creating jobs: electricity, transportation, buildings, industry and sustainable biofuels and innovations. A combination of policy actions and targeted investments will offer huge benefits to the economy and generate jobs. However, the measures highlighted in the report remains the sovereign choice of the country.

Click here for the report