India Can Be A Top Green Hydrogen Producer, Says World Bank Country Director Auguste Tano Kouame

Summary

In this special broadcast, World Bank Country Director for India, Aust K. Deukhuri, discusses India's energy transition and the bank's support for the green hydrogen mission. The first $1.5 billion loan has spurred demand and regulations for green hydrogen production, and the second loan aims to further stimulate private investment and renewable energy integration. With the government targeting $100 billion in private investment, Deukhuri highlights India's potential to lead in green hydrogen production for domestic use and exports, emphasizing the importance of adapting to climate change and investing in mitigation for economic sustainability and global market access.

Takeaways

• 📈 The focus is on India's energy transition, with new reforms and investments to be highlighted.
• 🌍 The World Bank has announced a second loan to support India's green hydrogen mission.
• 🇮🇳 The first loan of $1.5 billion, announced in June 2023, has shown satisfactory progress.
• 🧪 The loan has stimulated demand for green hydrogen in fertilizers and refineries.
• 💡 Progress includes regulations for safe production and steps towards research and development.
• ⚡ The first loan has also encouraged investments in the renewable energy sector.
• 🔋 The second loan aims to support further green hydrogen production and broader renewable energy goals.
• 🛠️ The World Bank's financing focuses on supporting policies and regulations rather than direct project activities.
• 💰 The Indian government aims to mobilize up to $100 billion in private investment for green hydrogen.
• 🌱 There is significant interest from the private sector, with commitments reaching up to $70 billion already.

Q & A

What is the focus of the special broadcast?

The focus of the special broadcast is on India's energy transition and the new reforms and investments the government is implementing, particularly with regard to the World Bank's second loan for India's green hydrogen mission.

Who is the guest on the program and what is his role?

The guest on the program is Auguste Tano Kouame, the World Bank Country Director for India.

What was the purpose of the first development policy loan announced in June 2023?

The first development policy loan, amounting to $1.5 billion, was aimed at supporting the implementation of India's national green hydrogen mission, issued in January 2023.

What progress has been made with the first development policy loan?

The progress has been satisfactory, with the government moving quickly to stimulate demand in areas like fertilizers and refineries, implementing regulations for the safety of green hydrogen production, and promoting research and development to stimulate private investment.

How does the World Bank's development policy loan mechanism work?

The development policy loan provides financing for efforts already made, rather than funding direct activities. It supports the government's budget and policies aimed at broader development objectives.

What are the goals for the second development policy loan?

The second development policy loan, also $1.5 billion, aims to continue stimulating green hydrogen production and consumption, encourage renewable energy integration, and support the broader economic goals of the Indian government.

What is the Indian government's target for private investment in green hydrogen?

The Indian government aims to mobilize up to $100 billion in private investment for green hydrogen as part of its national green hydrogen mission.

What level of private sector interest has been seen so far in green hydrogen investment?

There has been significant private sector interest, with commitments amounting to approximately $70 billion in green hydrogen production and electrolyzer production.

How will the World Bank support renewable energy penetration in India?

The World Bank will support reforms to incentivize battery energy storage solutions, amend the Indian electricity grid code to improve renewable energy integration, and reduce transmission costs for private producers.

What are the potential benefits for India in focusing on energy transition and climate action?

Focusing on energy transition and climate action will protect India's economic gains, create jobs, showcase leadership in global climate initiatives, and ensure access to international markets by reducing carbon emissions.

Outlines

00:00

🌿 World Bank's Support for India's Green Hydrogen Mission

The World Bank is supporting India's energy transition with the NDA 3.0 government focusing on green hydrogen. The bank has announced a second loan for India's green hydrogen initiative, following a $1.5 billion loan in June 2023. The progress on the first loan has been impressive, with the Indian government stimulating demand for green hydrogen in sectors like fertilizers and refineries and establishing regulations for its safe production. The World Bank's role extends beyond green hydrogen to encouraging investment in renewable energy sectors like solar and wind, which are essential for green hydrogen production. The second loan aims to continue this momentum, supporting the government's efforts to mobilize private investment and reduce costs for research and development, as well as electrolyzer production.

05:00

💼 Financing and Policy Goals of the Second Loan

The second loan from the World Bank, also valued at $1.5 billion, is intended to support the Indian government's budget and policies rather than directly financing specific activities. The goals of this loan are structured around three main objectives: stimulating green hydrogen production and consumption, supporting broader renewable energy goals, and ensuring stable macroeconomic financing for the government. The loan aims to encourage private sector investment in green hydrogen, facilitate the connection between renewable energy production and green hydrogen, and foster the development of a carbon market. It also seeks to provide affordable, long-term financing for India's broader development strategy.

10:02

📈 Private Sector Interest and Investment in Green Hydrogen

The World Bank has observed a high level of interest from the private sector in investing in India's green hydrogen ecosystem. The government's target of $100 billion in investments for the green hydrogen mission has been met with significant interest, potentially exceeding the target. The World Bank estimates that there is already a commitment of up to $70 billion from the private sector for green hydrogen production and electrolyzer manufacturing. This rapid commitment suggests that the government's mission objectives could be not only met but surpassed, highlighting the effectiveness of government reforms and incentives in driving private investment.

15:03

🚀 India's Potential as a Global Leader in Green Hydrogen Production

India has the potential to become a major global producer of green hydrogen, driven by its large domestic market and the need for decarbonization in sectors such as steel, construction, and transport. The country's green hydrogen production could also be exported to meet international demand, particularly from European countries interested in importing green hydrogen. The World Bank is supporting policy reforms to improve renewable energy integration into the grid, incentivize battery energy storage solutions, and reduce transmission costs for private producers. These reforms are expected to enhance the production of renewable energy, which is crucial for the green hydrogen sector.

20:03

🌐 The Importance of Energy Transition for India's Economic Growth

The conversation with the World Bank's country director for India, AUST Kuame, highlights the importance of energy transition for India's economic growth and global competitiveness. The new government is encouraged to continue facilitating private sector investment in renewable energy and green hydrogen by addressing challenges such as land access, back purchase agreements, and skill development. The World Bank emphasizes the need for conflict resolution mechanisms and labor market flexibility to attract investment. The energy transition is seen as an opportunity to create jobs, particularly in renewable energy sectors, and to demonstrate India's leadership in addressing climate change.

25:04

⚠️ Climate Action and Its Economic Implications for India

The World Bank underscores the urgency of climate action for India, warning of the severe consequences of inaction, such as climate crises manifesting as flooding, water scarcity, and other natural disasters. The bank advises India to focus on adaptation and resilience to protect its people and infrastructure from the impacts of climate change. It also stresses the importance of mitigation efforts to reduce greenhouse gas emissions, which align with global objectives and can safeguard India's economic interests, especially in the context of the European Union's carbon border adjustment mechanism. Investing in mitigation can also create jobs and demonstrate India's leadership in climate action.

📺 Conclusion of the Special Broadcast on India's Green Hydrogen Mission

The special broadcast concludes with a discussion on India's green hydrogen mission and the World Bank's support for the country's energy transition. AUST Kuame, the World Bank's country director for India, shares insights on the progress made and the potential for India to lead in green hydrogen production. The conversation also touches on the broader economic and environmental benefits of India's focus on renewable energy and climate action, emphasizing the importance of continued support and investment in these areas.

Keywords

💡NDA 3.0

NDA 3.0 refers to the third term of the National Democratic Alliance, the political coalition in India led by the Bharatiya Janata Party. In the context of the video, it signifies the current government's focus on India's energy transition and reforms, which is a key theme of the broadcast.

💡Green Hydrogen Mission

The Green Hydrogen Mission is an initiative launched by the Government of India in January 2023 to promote the production and use of green hydrogen, which is hydrogen produced using renewable energy, as a clean energy source. It is central to the video's discussion on India's energy transition and the World Bank's support for this initiative.

💡World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. In the video, the World Bank's role is highlighted through its loans to support India's green hydrogen initiatives and energy transition.

💡Development Policy Loan

A Development Policy Loan (DPL) is a financial instrument used by the World Bank to provide budget support to a country for implementing specific development policies and reforms. The video discusses a $1.5 billion DPL provided to India for its clean energy transition and the subsequent second loan.

💡Renewable Energy

Renewable energy refers to energy that is collected from renewable resources, such as sunlight, wind, rain, tides, and geothermal heat, which are replenished naturally. The script emphasizes the importance of renewable energy as a foundation for green hydrogen production.

💡Electrolyzer

An electrolyzer is a device that uses electricity to split water into hydrogen and oxygen, a process known as electrolysis. In the context of green hydrogen production, electrolyzers powered by renewable energy are essential, and the script mentions the World Bank's support for their production.

💡Private Investment

Private investment refers to capital provided by individuals, companies, or private institutions for the purpose of financing projects or businesses. The video discusses the government's goal to mobilize up to $100 billion in private investment for the green hydrogen ecosystem.

💡Carbon Border Adjustment Mechanism (CBAM)

The Carbon Border Adjustment Mechanism is a proposed policy by the European Union to put a carbon price on imports from countries with less ambitious carbon pricing than the EU. The script mentions CBAM as a factor that could influence India's decarbonization efforts and its exports.

💡Renewable Energy Integration

Renewable energy integration refers to the process of incorporating renewable energy sources into the existing electrical grid. The script discusses the World Bank's support for reforms that will improve the integration of renewable energy into India's grid.

💡Battery Energy Storage

Battery energy storage involves storing energy in batteries for later use, which is crucial for balancing supply and demand in the grid, especially with the variability of renewable energy sources. The script mentions incentives for battery energy storage solutions as part of the reforms supported by the World Bank.

💡Macroeconomic Framework

A macroeconomic framework refers to the overall economic policies and strategies that a government implements to manage its economy. The video discusses the importance of a stable macroeconomic framework for stimulating growth and the role of the World Bank loans in supporting this stability.

Highlights

The World Bank announced the second loan for India's green hydrogen mission, supporting the country's energy transition.

The first development policy loan of $1.5 billion, announced in June 2023, has shown impressive progress in stimulating demand in areas such as fertilizers and refineries.

The initial steps have included putting in place regulations for the safety of green hydrogen production and electrolyzer manufacturing.

The first operation has also stimulated the broader renewable energy sector, essential for green hydrogen production.

The second development policy loan, also $1.5 billion, aims to further support India's green hydrogen and energy transition efforts.

The development policy loan provides financing into the government budget in support of broader policy objectives rather than direct activities.

The government's goal is to mobilize up to $100 billion in private investment for green hydrogen as part of its mission.

The second loan will support continued bulk purchase agreements for green hydrogen in sectors like fertilizers and refineries.

Efforts are being made to encourage renewable energy production, including solar and wind, to support green hydrogen production.

The World Bank is also encouraging the development of carbon markets and green bonds to support renewable energy financing.

Private sector interest in green hydrogen investment is high, with estimates suggesting potential investments up to $70 billion.

India has a significant domestic market for green hydrogen, especially in energy-intensive sectors like steel, construction, and transport.

There is potential for India to become a major global producer and exporter of green hydrogen.

The policy loan will also support reforms to improve renewable energy integration into the grid, including incentivizing battery energy storage solutions.

The World Bank aims to ensure affordable and long-term financing to support India's broader development strategy and energy transition.

Transcripts

[Music]

hello and welcome to the special

broadcast with the NDA 3.0 taking over

the focus will be on India's energy

transition and to see what new reforms

and Investments the government is able

to bring in the world bank has announced

the second loan for India's green

hydrogen Mission how will the World Bank

support India's green hydrogen and

energy transition to talk about it all

is auste kuame who's joining us today

he's the World Bank country director for

India Aus thank you very much for

joining us here on the program first of

all I'd like to ask you about the

progress that you have made with the

First Development policy loan for

India's clean energy transition that you

had announced in June 2023 that was a

$1.5 billion loan what has been the

progress on that front thank you very

much par for this question well the

first loan came about as a uh an effort

to support the implementation of of the

national green hydrogen mission that was

issued by the government of India in

January

2023 so progress has been quite uh

satisfactory and perhaps even impressive

because uh already uh the government has

moved quite fast to stimulate uh demand

in areas such as fertilizers and

refineries uh under the first uh

operations that we uh approved that our

B approved in June

2023 and we have also worked with the

government to start putting in place uh

regulations to ensure safety of

production of green hydrogen production

of electrolyzers we've also made some

steps uh to uh come up with u uh actions

for research and development on the

government side that will later

stimulate private investment U so some

progress have been made and I should say

Beyond green hydrogen per se the first

operation has also created some dynamism

in the whole renewable uh energy sector

because as you know uh green hydrogen

depends on renewable energy such as

solar or wind so the first operation has

helped encourage investment in those

sectors by uh removing the cost or some

of the fees that producers will pay to

connect their uh wind or

or solar energy to the GD so that this

can feed into the production of green

hydrogen U so these are initial steps

and it is not sufficient that why the

second operation becomes necessary and

uh and even the second operation may not

be the last uh effort on the part of the

World Bank to support the development of

green hydrogen in in India because it is

a long-term effort the government is

aiming to mobilize up to 100 billion in

private investment

for green hydrogen alone as part of this

Mission so it will take a few years it

will take a few years so $1.5 billion

was the first development policy loan

for green hydrogen uh has that been

fully utilized and what is the latest

round of funding or the development loan

that you're announcing so the way the uh

development policy loan works is that it

provides financing for effort already

made and it doesn't necessarily Finance

Direct activities so yes it has been

utilized because it was part of uh the

government of India's budget that uh for

the fiscal year that closed in March so

it has been uh utilized this is our

assumption uh and the next um operation

hopefully will uh be part of the current

budget cycle and hopefully it will be

utilized also for supporting the

government effort you know to uh to do

what it uh it had plan to do Under the

national green hydrogen mission to

stimulate private investment and also

provide initial funding uh to reduce the

cost uh for research and development as

well as for production of electrolyzers

and actual production of green hydrogen

right so this the second development

policy loan is for $1.5 billion uh how

is this going to be utilized and uh

what's going to be the strategy behind

deploying this fund so as I said you

know maybe we need to uh explain a bit

how the World Bank financing instruments

work um what we're talking about here is

a development policy loan as opposed to

an investment policy financing or an

investment project financing rather if

it were an investment project financing

we would have been financing direct

input or activities under the project

for a development policy loan we do not

Finance direct activities under the

project we provide

financing into the government budget in

support of a number of policies and

regulations that the government will put

in place for a bigger objective a bigger

development objective so with the the

utilization the the connection between

the fund and the actual activities under

the development policy financing is not

as as watertight as it is under

investment investment project financing

so utilization is you know part of the

broader government budget right any

goals that you have set as part of the

second loan uh yes the goals are very

clear both in terms of um uh direct

policies which we call prior actions to

support the green hydrogen development

as well as in terms of supporting the

broader uh goal of of supporting the

economy and and stabilizing the the the

the financing the over financing of of

the government so the goals for the

policies are they in three

buckets first bucket is to stimulate uh

green hydrogen uh production and

consumption uh and under that uh we have

agreement uh for the government to take

actions to again as I said to continue

encouraging the uh bulk purchase of

green hydrogen for fertilizer and for um

um for refineries and maybe some for

some other uh sectors that will give

encouragement to the private sector to

invest because they will know that their

output will be purchased and uh the

government will also uh uh increasingly

encourage other hard toate uh sectors uh

to do

likewise um and um under the broader uh

renewable energy we also continuing to

encourage uh the connection between

between um production of of of of of um

uh solar as well as wind and hopefully

perhaps even floating solar uh as input

for green hydrogen so that the green

hydrogen doesn't

become the AL so there is enough

renewable energy for green hydrogen as

well as for other use in uh in in the

economy and we continue to encourage uh

the development of of uh financing um

for or renewable more broadly so um

we're looking at under this operation to

encourage the emergence of carbon Market

you or or development of carbon Market

um we encourage we we continue to ensure

that um when private sector wants to

invest in green Bond there is a

framework for it there is a taxonomy um

for it so these are some of the policy

goals under the operation right and uh

and and then as I said as broadly put

this operation also fits into the

government's broader effort to stimulate

growth through uh a stable macroeconomic

framework um so uh it is also one of the

goals to ensure that the government

financing uh is sourced in a way that is

not too costly and our loans are not

costly they're long-term so they provide

you know affordable financing as well as

long-term financing to the government of

India for more a broader uh development

strategy AUST I would also like to ask

you about uh the level of Investments

that you've seen so far the government

has set itself a target of hundred

billion in investments in the green

hydrogen ecosystem uh through the

mission plan uh what has been the level

of interest that you've seen well we've

seen a high level of Interest

surprisingly um and the interest we've

seen suggests that in fact the

government objective of 100 billion

might well be exceeded when it's all

said and done uh

because already we seeing uh that based

on our EST our estimate there is

interest from the private sector to

invest up to 70 billion already in um um

green hydrogen production and in

electroly production and this 70 billion

has come very 70 billion interest or

announcement or commitment has come very

very fast and in the coming years you

will see more announcement uh coming up

and I'm very confident that the 100

billion uh Target will be achieved and

perhaps um exceeded and this is nothing

new really um in India um where a small

uh investment on the part of the

government accompanied by a good package

of reforms regulations and and

incentives have generated so much

private investment if we take the

example of uh the solar Parks uh you

know at our level at the World Bank

level we provided a loan of 70 million

to the government of in to the various

States and that 70 million loan

generated 4.2 billion wor of private

investment in the Solar Parks the case

of Rea which I mentioned earlier uh the

loan to rea the public sector um sourced

World bank loan to R was only 17 million

17 and that generated more than half a

billion meaning 30 times uh the in the

size uh of the initial Loan in the form

of private investment so uh the national

green hydrogen Mission which is a 2.4

billion government program will generate

uh a lot of private investment and

probably u a lot more so uh it's we very

encouraged that uh already 70 billion uh

worth of private investment have been

announced based on our calculation so

you feel that when it comes to uh

production of green hydrogen deploying

green hydrogen for the use in uh

manufacturing and even exports India

could take the lead

globally uh yes India could be one of

the biggest producers of uh green

hydrogen for uh initially for domestic

consumption because India has a big

Market already there are a number of

sectors that are very dependent on

energy consumption such as steel uh even

construction transport uh those sectors

will need to decarbonize especially if

they want to export uh their output

because with cbam with the carbon border

adjustment mechanism mechanism of the EU

if those sectors don't decarbonize they

will not be able to break into the

European market or other uh foreign

market or they may not be able to to

increase their market shares so those

sectors will consume a lot of green

hydrogen which India will produce and

then there will also be a an opportunity

to export green hydrogen produced in

India to other countries and there there

is demand other countries we hear uh

that some European countries would like

to import green hydrogen from India so

whenever India is ready to export its

green hydrogen there will be a market

for it but I have to say you know it's

it's it's a win-win for India there is a

big domestic market and there is demand

for its its green hydrogen by other

countries so what need to take place now

is you know expand production expand

production uh the the statement by the

World Bank also said that the the policy

loan will also support reforms on

renewable energy penetration by for

instance incentivizing battery energy

storage solutions and amending the

Indian electricity grid code to improve

renewable energy integration into the

grid uh give us a sense of how these

reforms or the changes will be supported

how the World Bank will be steering

these reforms along with the Indian

government so uh on grid integration for

example uh you know if you were to

produce um renewable energy wind or

solar somewhere uh you know you in you

put up your investment you produce and

then you need to sell it to the grid um

and often time it's easier said than

done because you need to transport it to

the grid and to transport it to the grid

sometimes you pay transportation fees

you pay transmission fees and sometimes

actually the connection the transmission

infrastructure is not there so what the

operation does is first to put in place

a framework for the government to invest

more in transmission uh uh

infrastructure but more importantly is

to also reduce the cost of transmission

by private producers uh paid by private

producers into uh uh into the GD so when

you produce your wind energy you would

pay less to transp it and add it to the

overall grid and there are policies that

are already in place which wave those

fees uh uh initially for a given period

of time uh say for you know up to 2026

and the operation would provide

incentive to the government to extend

that waiver period so that when you go

and produce your wind you know that for

a a long period of time you will be able

to uh connect it to the Grid at low cost

and that will increase the return on

your own investment so that's one

example of how the operation is helping

um the integration of uh renewable into

the grid and and this is important

because again green hydrogen means

higher consumption of renewable energy

and green hydrogen should not be the

only consumer of renewable energy there

are other ways other needs for renewable

energy so if you want to push up the

production of green hydrogen you need to

push up even more so the production of

renewable energy so that there is no

conflict between green hydrogen and

other uses of renewable energy so as

you're saying lot of investment

potential India's uh green energy

transition on that note we're taking a

short break but don't go anywhere this

conversation with World bank's country

director for India on India's green

hydrogen Mission and energy transition

continues on the other

[Music]

side welcome back you're watching CNBC

TV8 and we are in conversation with AUST

kuame World bank's country director for

India on India's green hydrogen Mission

and the latest uh loan that the World

Bank has announced for the country now

when it comes to production of green

hydrogen and electrolyzers uh is there a

Target that uh you're setting for the

next few years or maybe till

f26 we don't have Target other than the

targets that the government has set in

the national green hydrogen Mission we

are here to support the implementation

of the national green hydrogen Mission

and meet its Target so the government

has a Target of stimulating private

investment up to 100 billion in the

production of uh electrolyzers and the

actual production of green hydrogen the

government own contribution to that

would be you know about $2 billion but

that's to stimulate the private sector's

invest the goal is really the 100

billion and uh and hopefully this target

will be uh met our initial conversations

with the government uh is between the

two operations we have had a number of

conversations and and my sense is that

it could actually be exceeded right we

could exceed that goal of 100 billion uh

what people would like to ask you in

terms of catalyzing private sector

investment drawing in more Investments

because uh institutions like the World

Bank the government cannot bring in all

the money it has to come from the

private sector what more can be done by

this new government uh which has just

taken over a few days back what can be

done in terms of crowding in more

private Investments uh in the renewable

energy space in the green hydrogen

Mission well I think the government is

already uh doing a number of things if

we want to focus on green hydrogen I

think the first thing that you want a

government to do is to have a mission to

have a plan and that plan or was is

there is there 2023 I think there are a

number of other things that you'll want

the government to do uh more broadly to

stimulate uh private investment you know

there are actions for example in the

area of uh fac itting access to

land um you know if you want to

establish production of renewable energy

un need space uh and there are some good

examples including uh under some World

Bank financed project you know we have

the ri project example or the solar

Parks project which which was also part

of a mission the national solar Mission

under that mission we worked with the

government um to facilitate the

identification of land and

uh invest in shared infrastructure in

those plots uh to tell the private

sector look the basic infrastructure is

already there you're not going to

struggle to find the land and you know

put the pipes and it's already there all

you need to come is come with your boxes

and you start you build your plant build

your plant and you start producing the

second thing we did which uh with the

government is to uh come up with

mechanism for back purchase agreement

because when the sector produces they

they're not sure whether they'll be able

to sell their output especially new

sectors that are emerging so we agreed

with uh some big consumers uh in the

case of Rea in Madia Pradesh there was

an agreement with Delhi Metro to bulk

the to to BU purchase the output and

that helped private investors come in uh

the other thing that you will want the

government to do also to attract the

private sector more broadly and

specifically in the energy sector which

is skills you know when investors come

they want to make sure that they have

people to work in their factories uh

people who are skilled enough so there

is a need to invest more in skills more

in talent and where the skills and

talent are not available maybe you want

to make the labor market flexible enough

for investors to be able to import

workers from other state or perhaps from

elsewhere in the world then there are uh

the the issues of um you know how what

will happen if the investor has a

conflict with some other investors or

with um

some um some client so you want to have

a you know convey to the private sector

that there would be mechanism to resolve

conflict to to settle conflict quicker

really quicker uh so that they know what

will happen to their investment uh and

then a few other step but but the

government is is thinking about those

already um and has done a lot as I said

in in some of these areas uh and there

perhaps there few more things to do

right uh my final set of questions what

uh is the cost for a country like India

if we don't focus enough on energy

transition on climate action right now

we have been seeing a climate crisis and

that has been impacting Us in different

ways through flooding uh through uh

heavy water logging water scarcity so uh

any uh recommendations that you've

recently made to the government any

warning signs that you pick up well um

you know the good news is that when it

comes to climate no govern needs advice

anymore because we all know the issues

we all know that the crisis is upon us

it is a clear and present danger we

leave it every day so I would say the

two or three buckets of issues one is on

adaptation the climate change is up on

us it's going to actually get a bit

worse before it gets better so how do we

uh

protect people how do we protect

household how do we protect firms how do

we protect systems infrastructure and if

that protection doesn't happen we we

know what happen you lose a lot of lives

or a lot of asset so first message is is

what we call adaptation invest in

adaptation and resilience invest you

know really well uh knowing that this is

not a safe place this is not a safe

World by place I mean the the globe the

planet is no longer as comfortable as

easy to live as is used to so we need to

invest in protecting ourselves that's

adaptation and and it's you know in

India it means making shes uh the coast

safer

making uh uh you know air quality better

uh you know investing in improving all

these things that's adaptation and

resilience the second bucket is well you

know how do we act to

reduce uh the pace

of of of of

how do we

reduce our impact on climate in the

future how do we reduce the harm how do

we ensure that we don't put up more

greenhouse gases or more CO2 or more

methane out there which will make things

even worse so that's the bracket of

mitigation uh and for that uh the

challenge is what a country does

benefits others right it doesn't benefit

that country alone because the air has

no limit the space has noit what we

produce here the bad thing we put in a

in country a come to India and vice

versa so the what our advice is for a

country like India which is not one of

the biggest emitters at the moment if

you look at emission per capita uh

India's emission is uh level is quite

low India cons energy consumption is

just India's energy consumption per

capita is one3 of the global average M

and the emissions are below global

average per capita India is a big

country so if you add everything that

each of us living here in India produce

even though it is a small quantity per

person when we add it up it adds to a

big number uh because the population is

large and as the economy grows even

though the the

GDP you know emission per GDP is not

high because the GDP itself is large the

total emission is is quite significant

right so our advice is

India will have a role to play in

helping the world meet the global

mitigation objectives but that will also

help India why because as I mentioned

earlier the world is now every consumer

is paying more attention to what is the

CO2 content what is the carbon footprint

of what they're consuming the European

SE the carbon border adjustment

mechanism is telling us if you don't

reduce the emission content of your gdps

you're not going to have the global

market as your Marketplace it's going to

shut down on you and India big economy

will need to export so for India the

benefits of investing more in mitigation

is to protect the economic gains and be

able to continue be the powerful economy

that India will be you know very soon

and be able to export his Goods so that

it doesn't uh become too challenging and

and and so there are benefit there and

of course um uh there are additional

benefits such as you know creating jobs

uh India is a big economy and therefore

if India invest in renewable energy in

energy transition this will create jobs

because it is a growing area right to

create you know new jobs jobs that are

actually perhaps more inclusive than the

jobs in traditional

Industries uh because they're easier to

to do they require more Talent they can

be done from home you know so more

people can be can join the labor market

including women who can work more in

these new technologies than they would

have been able to work in hydroc carbon

for example okay and finally uh it will

also show India's leadership in in this

area and leadership in the world is an

intangible but it means a lot thank you

very much AUST guame for speaking to us

telling us about the green hydrogen

Mission and the second phase of support

from the World Bank for the India

government and also your projections for

the Indian economy thank you once again

for talking to us that's all we have

time for on this special broadcast thank

you for watching and goodbye

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