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  • DAILY CURRENT AFFAIRS:WEF forms alliance of Indian CEOs to achieve Country’s net-zero carbon emission goal

WEF forms alliance of Indian CEOs to achieve Country’s net-zero carbon emission goal

Tags: Economy/Finance Science and Technology

The World Economic Forum (WEF) launched the India chapter of the Alliance of CEO Climate Action Leaders to accelerate India’s climate action and decarbonisation efforts on 23 May 2022.

  • This was launched at the annual World Economic Forum meeting being held in Davos in Switzerland from 22nd May to 26th May 2022.
  • The India chapter of the Alliance of CEO Climate Action Leaders is a collaboration between Global management consultancies company  A.T Kearney of the United States and Observer Research Foundation of India
  • The Alliance will serve as a high-level platform to support business leaders in planning and implementing plans and programmes to achieve climate targets, including net-zero carbon growth. 
  • It will bring together the government, businesses and other key stakeholders to achieve Prime Minister Narendra Modi’s ambitious “Panchamrit” pledge, which includes the country’s target to become net-zero carbon emission by 2070.
  •  He announced the “Panchamrit” pledge as an Indian action plan to deal with climate change at the COP26 held at Glasgow in November 2021.

The Panchamrit pledge includes

  •  India reaching its goal of  non-fossil energy capacity to 500 GW by 2030, 
  • meeting 50 percent of its energy requirements from renewable energy by 2030,
  •  reducing the total projected carbon emissions by one billion tonnes from now onwards till 2030,
  •  reducing the carbon intensity of its economy by less than 45 per cent by 2030, and 
  • To achieve the target of net zero carbon emission by 2070.


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