Which international initiative aims to mobilise solar energy investments of $1,000 billion by 2030?

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  1. Global Green Pact
  2. International Solar Alliance (ISA)
  3. Solar Energy Collaboration
  4. World Solar Initiative

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Option 2 : International Solar Alliance (ISA)
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The correct answer is International Solar Alliance (ISA).

Key Points

  • The International Solar Alliance (ISA) aims to mobilize $1,000 billion in investments for solar energy by 2030.
  • ISA was launched on November 30, 2015, by the Prime Minister of India, Narendra Modi, and the former President of France, François Hollande, at the COP21 climate conference in Paris.
  • The alliance focuses on promoting solar energy and reducing the cost of solar power generation through cooperative efforts.
  • ISA's goal is to help countries harness solar energy more effectively to ensure energy security and to promote sustainable energy access.

Additional Information

  • ISA Membership
    • Open to 121 prospective member countries situated between the Tropic of Cancer and the Tropic of Capricorn.
    • As of October 2021, ISA has 98 signatory countries, with 80 of them having ratified the ISA Framework Agreement.
  • Focus Areas
    • Promoting solar technologies and investment in the solar sector.
    • Developing innovative financial mechanisms to reduce the cost of capital for solar projects.
    • Encouraging capacity building and R&D in solar energy technologies.
  • ISA Programs
    • Scaling Solar Applications for Agriculture Use (SSAAU).
    • Affordable Finance at Scale.
    • Scaling Solar Mini-Grids.
    • Scaling Solar Rooftop Projects.
  • Global Impact
    • ISA aims to mitigate climate change by reducing carbon emissions through increased use of solar energy.
    • It seeks to ensure energy security and promote sustainable development, particularly in developing countries.
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