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POLICY AND ECONOMIC REPORT
                  OIL & GAS MARKET

              investment, and a focus on emerging technologies, India is well-positioned to achieve its ambitious
              renewable energy targets and solidify its status as a global leader in the clean energy transition.

              India submits its 4th Biennial Update Report to the United Nations Framework Convention on Climate
              Change

              India’s 4th Biennial Update Report (BUR-4) to the United Nations Framework Convention on Climate
              Change (UNFCCC) was submitted on 30th December, 2024. The BUR-4 updates the Third National
              Communication (TNC) and contains the National Greenhouse Gas (GHG) inventory for the year 2020. The
              report also embodies information on India’s national circumstances, mitigation actions, an analysis of the
              constraints, gaps, related finance, technology, and capacity - building needs.

              In a post on social media, Union Minister for Environment, Forest and Climate Change, Shri Bhupender
              Yadav, stated that India is leading by example in sustainable growth. These numbers reflect Prime Minister
              Shri Narendra Modi’s commitment to aligning economic progress with meaningful climate action, he
              added.

              In 2020, India’s total GHG emissions decreased by 7.93 per cent with respect to 2019. The emissions,
              excluding Land Use, Land-Use Change and Forestry (LULUCF), were 2,959 million tonnes of CO2e and net
              emissions of 2,437 million tonnes of CO2e with the inclusion of LULUCF. The energy sector contributed the
              most to overall emissions (75.66 percent), followed by the agriculture (13.72 percent), Industrial
              Processes and Product Use (8.06 percent), and Waste (2.56 percent). In 2020, India's forest and tree cover,
              along with other land use, sequestered approximately 522 million tonnes of CO2, equivalent to reducing
              22% of the country's total carbon dioxide emissions in 2020.

              India’s achievements in respect of the NDC targets:

                  ? India has progressively continued decoupling economic growth from GHG emissions. Between
                       2005 and 2020, India’s emission intensity of Gross Domestic Product (GDP) reduced by 36%.

                  ? By October 2024, the share of non-fossil sources in the installed electricity generation capacity
                       was 46.52%. Total installed capacity of renewable power, including large hydropower, is 203.22
                       GW and cumulative renewable power installed capacity (excluding large hydro projects) has
                       increased 4.5 times from 35 GW in March 2014 to 156.25 GW.

                  ? India’s forest and tree cover has consistently increased and currently stands at 25.17% of the total
                       geographical area of the country. During 2005 to 2021, additional carbon sink of 2.29 billion
                       tonnes of CO2 equivalent has been created.

              Despite India's very low contribution to historical emissions and the current levels of global emissions,
              India has taken proactive actions to combat climate change in the context of sustainable development
              and its developmental aspirations. This is in light of India’s national circumstances, reflecting principles of
              equity and common but differentiated responsibilities and respective capabilities (CBDR-RC), as enshrined
              in the UNFCCC and its Paris Agreement.

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