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DAILY NEWS ANALYSIS

  • 27 August, 2022

  • 9 Min Read

Getting India to Net Zero

Getting India to Net Zero

In order to achieve its objective of net zero emissions by 2070, India will need to invest $10.1 trillion across its entire economy, according to a recent analysis.

About the report

  • The paper, titled "Getting India to Net Zero," was just made public in New Delhi.
  • Former Australian prime minister Kevin Rudd, who is also the president of the Asia Society Policy Institute, former UN secretary-general Ban Ki-moon, head of the International Finance Corporation and director of climate business Vivek Pathak, and former Indian foreign minister Shyam Saran all released the report.

Advantages of achieving the goal

  • According to the analysis, attaining net-zero emissions by 2070 would increase yearly GDP by up to 4.7% by 2036 and result in the creation of up to 15 million additional employment by 2047.
  • The goals of India's 2015 Nationally Determined Contribution (NDC) include:
  • According to the analysis, the targets are expected to be met early within the next few years thanks to present measures.
  • Emissions peak: According to the research, India's emissions peak might occur as early as 2030.

Reporting advice

  • The paper claims that additional policies, particularly those that support renewable energy and electrification, might make net zero feasible by the middle of the century.
  • In order to achieve net zero emissions by the middle of the century, it would be especially beneficial to stop producing new coal by 2023 and switch to unabated coal power by 2040.

Challenges

  • Failure of the developed countries: It is anticipated that the ongoing inability of the wealthy countries to keep their long-standing promises in the areas of finance and technology will make even the current changes extremely challenging.
  • Environmental shocks: Cropping patterns can alter, there can be floods, and agriculture must be made to be adaptable to these shocks.
  • Carbon budget globally: Global cumulative carbon dioxide emissions must be restricted at the global carbon budget in order to keep the rise in the average global temperature to that agreed upon in the Paris Agreement.
  • Arguments against setting a net-zero goal include:
  • Significant revenue loss for the poorer Indian states of Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Jharkhand.
  • Nearly 15% of the state budget for states like Chhattisgarh and Jharkhand comes from the mining industry.
  • Because western and southern India have stronger solar and wind resources, these states will miss out on new employment in the renewable sector.

Steps were taken by India to Achieve Net- Zero Emissions by 2070

India's Renewable Energy Goals:

  • Since being set at 175 GW by 2022 in Paris, India has steadily increased its renewable energy goals to 450 GW by 2030 at the UN Climate Summit, and now 500 GW by 2030 at COP26.
  • Along with the current aim of 40%, which has already been nearly attained, India has additionally stated the target of 50% installed non-fossil energy producing capacity by 2030.

NDC's objectives consist of EIGHT GOALS, which are listed as follows:

  • In order to counteract climate change, it is important to promote a sustainable, healthy way of life that is based on cultural norms and values of moderation and conservation.
  • One way to do this is through the "LIFE" movement, which stands for "Lifestyle for Environment."
  • India should choose, at a comparable degree of economic development, a path that is more environmentally friendly and cleaner than the one previously taken by others.
  • to achieve a 45% reduction in the GDP's emissions intensity from 2005 levels by 2030.
  • To achieve approximately 50% of the total installed capacity of electric power from non-fossil fuel sources by 2030, with the aid of technology transfer and affordable international financing, including from the Green Climate Fund (GCF).
  • To increase the amount of forest and tree cover by 2030, adding 2.5–3 billion tonnes of CO2 equivalent as a carbon sink.
  • To increase investments in climate-vulnerable sectors of development, such as agriculture, water resources, the Himalayan region, coastal regions, health, and emergency preparedness, in order to better adapt to climate change.
  • To raise local funding as well as new and extra monies from developed nations in order to carry out the aforementioned mitigation and adaptation measures in light of the available resources and the resource gap.
  • In order to accelerate the spread of cutting-edge climate technology in India and for cooperative collaborative R&D for such future technologies, it is necessary to build capacities and establish both a domestic framework and an international architecture.

Initiatives

  • To increase the amount of forest and tree cover by 2030, adding 2.5–3 billion tonnes of CO2 equivalent as a carbon sink.
  • India has launched one of the largest solar energy installation projects in the world in an effort to better adapt to climate change by increasing spending on development programs in sectors that are vulnerable to it.
  • Regardless of whether it reaches the 450 GW goal by 2030 or the 175 GW capacity target by 2022,
  • The India Cooling Action Plan (ICAP) will assist in addressing cooling needs and lowering cooling demand in the nation.
  • In order to tackle climate change, the National Mission for Enhanced Energy Efficiency (NMEEE) has been implemented by the Bureau of Energy Efficiency (BEE) and Energy Efficiency Services Limited (EESL).
  • Thousands of crores have been set aside in the Compensatory Afforestation Management and Planning Authority (CAMPA) Fund under the Compensatory Afforestation Fund Act, 2016, and it is hoped that they will be used soon to make up for deforestation and restore the green cover made up of native tree species.

Panchamrit approach:

  • The Panchamrit policy of Hon. PM Narendra Modi was revealed during the COP 26 conference in Glasgow on improved climate targets.
  • By 2030, India's capacity for non-fossil energy will expand to 500 GW.
  • By 2030, it will obtain half of its energy needs from renewable sources.
  • From now until 2030, it is anticipated that carbon emissions will be decreased by 1 billion tonnes overall.
  • Its economy's carbon intensity will be decreased to less than 45%.
  • By 2070, India will have reached its goal of net zero.
  • Along these lines, India has amended its Nationally Determined Contribution (NDC).

Meaning of Net Zero

  • Net Zero State, also known as carbon-neutrality, is the condition in which a nation's emissions are offset by the absorption and removal of greenhouse gases (GHGs) from the environment.

Natural processes and cutting-edge technologies like carbon capture and storage are used to do it.

Way ahead

  • The revamped framework will present a chance to improve India's manufacturing capacity and increase exports, along with many other government measures, such as tax breaks and incentives like the Production Linked Incentive scheme (for promoting manufacturing and adoption of renewable energy).
  • Overall, it will boost the number of green jobs in fields like renewable energy, clean energy industries, the automotive industry, the production of low-emission products like electric vehicles and extremely energy-efficient appliances, and cutting-edge technologies like green hydrogen.
  • India needs to lead the way in achieving both energy usage and climate targets.

Also Read - Seti River

Source: The Indian Express


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