The bill empowers the central government to make a carbon credit trading mechanism and mandate companies and establishments to earmark a portion of their energy needs from non-fossil sources.
The good news is, after the COP15 (2009) commitment to help developing/poor countries with $100 billion a year in adopting green energy, rich countries committed to “loss and damage fund” at COP27.
The whitepaper, titled ‘the neglected demand side of the green equation’, says that even though the use of renewables is growing, they are not even close to replacing fossil fuels.
