NEW DELHI: A bill to mandate the use of non-fossil energy sources such as biomass, ethanol and green hydrogen and allow carbon credit trading in the country was passed by Parliament on Monday.
The Energy Conservation (Amendment) Bill, 2022 was cleared in the Rajya Sabha by a voice vote on Monday. The Lok Sabha cleared the legislation in the previous session in August this year.
The bill provides for penalties for violations by industrial units or vessels, and on manufacturers if a vehicle fails to comply with fuel consumption norms.The amendments also seek to promote renewable energy and the development of a domestic carbon market to battle climate change.
It aims to introduce new concepts such as carbon trading and mandate the use of non-fossil sources to ensure faster decarbonisation of the Indian economy and help achieve sustainable development goals in line with the Paris Agreement.
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