India is considering a bilateral agreement with the European Union to supply 10 million tonnes of green hydrogen, which will be invested in a clean energy project in India. The scheme allows EU companies to use carbon credits linked to green hydrogen production in exchange for investment and purchase deals. India's Ministry of Renewable Energy and renewable energy companies participated in the negotiations. The program aims to drive the energy transition from fossil fuels and tackle global warming.

According to the Statistical Review of World Energy report, global energy demand grew by 1% last year, but fossil fuels still dominate, accounting for 82% of supply. The industry report found that renewables accounted for 7.5% of global energy consumption, while fossil fuels remained at 82%. Electricity generation rose 2.3%, with wind and solar growing to account for 12% of electricity generation. Coal's share of electricity generation remains dominant at 35.4%. Scientists believe the world needs to reduce greenhouse gas emissions by 43% by 2030 to meet the Paris Agreement's goal of keeping temperature rises below 2 degrees Celsius.