Asia–Pacific Climate Report

Current Context : Recently, Asia–Pacific Climate Report is released by Asian Development Bank (ADB).

Key Points from Asia–Pacific Climate Report by ADB:

• Shift to Clean Energy: India reduced fossil fuel subsidies by 85% from $25 billion in 2013 to $3.5 billion in 2023, redirecting funds to renewables​
• Subsidy Reform Strategy: Used a “remove, target, and shift” method; phased out petrol and diesel subsidies (2010-2014)​
• Role of Coal Cess and Taxes: A coal cess (2010-2017) funded clean energy; excise duties on petrol/diesel increased from 2014-2017.

Major Government Initiatives:

• National Green Hydrogen Mission: Supports green hydrogen production to reduce emissions.
• PM-KUSUM Scheme: Focuses on renewable energy use in agriculture.

About ADB:

• Founded: 1966, aimed at supporting economic development in member countries.
• Membership: Includes 69 countries, with India as a member.
• Headquarters: Manila, Philippines.