KPMG organised the 13th edition of its premier energy and natural resources annual conclave, ENRich 2022 on 29 and 30 November. The two-day conclave was inaugurated in the capital by Shri Hardeep Singh Puri, Minister, Petroleum and Natural Gas; and Housing and Urban Affairs, Government of India. Shri Alok Kumar, Secretary, Ministry of Power, Government of India was present during the inaugural session and shared his insights on India’s power sector.
Speaking at the inaugural session of ENRich, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas; and Housing and Urban Affairs, Government of India stated, “India is committed to the transition to green energy and we are making all efforts to ensure that it is inclusive and sustainable. We will also leverage our presidency of the G20 to form an international alliance on biofuels. While the global economic and geopolitical climate remains uncertain, we are unwavering in our ambition to achieve the sustainability targets we have set for ourselves.” India has been able to insulate itself from the rising fuel prices by taking several steps, including reduction in the excise duty by the Centre. We have been able to contain the fuel price rise in India in comparison to exponential rise in developed countries. Most of the developed nations have witnessed the rise in Gasoline price by almost 46 % during July 21 to Nov’22. While in India, we have reduced the gasoline price by 2.12%.”
During the inaugural session, KPMG also released a Thought Leadership report titled, “Closing the climate finance gap - A rapid yet sustainable scale-up of financing is critical to realise the Global Net Zero ambition”, which reviews trends in global climate finance demand-supply, distils constraints to climate finance flows and identifies transformation levers to expand climate finance flows sustainably for impact. A panel of coveted organizations in the ENR space discussed and deliberated on the implications of the trilemma for energy suppliers, users, policymakers, regulators, and service providers under the core theme “Dealing with the Energy and Resources Trilemma: Security, Affordability and Sustainability”.
While delivering the welcome address, Yezdi Nagporewalla, CEO, KPMG in India, said, “We are running out of viable pathways to contain the worst effects of climate change. To keep the 1.5°C pathway in sight, the global energy system needs to accelerate its transformation significantly, shifting away from fossil fuels toward efficiency, electrification, and new fuels, quicker than even the announced net-zero commitments.”
The two-day event witnessed various panel discussions around security of supply, pathways for accelerated decarbonization and had participation from panellists representing coveted organisations. The conclave also featured several thematic roundtables, expert conversations, ministerial keynotes, fireside chats, interactive sessions from stakeholders across the sector and the ENRich Digital Lounge focused on sustainable innovation.
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For further information please contact :
Vidya Mohan
KPMG in India
Mobile No - +91 9820770846
Email - vidyamohan@kpmg.com