A partnership to carry India into net-zero future

News: With active cooperation from the private sector, India will be able to help build a more sustainable world.

What are the steps taken by India to reduce GHG emission?

New climate targets have been pledged by India at COP26: Read here:  https://forumias.com/blog/indias-panchamrita-pledge-at-cop26-explained-pointwise/

New cutting-edge renewable technologies: India has already announced a Hydrogen Energy Mission for grey and green hydrogen.

 Energy efficiency: the market-based scheme of Perform, Achieve and Trade (PAT) has avoided 92 million tonnes of CO2 equivalent emissions during its first and second cycles.

e-mobility transition: with the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles Scheme. It helps to support the electric vehicle market development and enable its manufacturing ecosystem to achieve self-sustenance. The government has also announced a slew of incentives for customers and companies to promote e-vehicles.

Emission norms Upgraded: India leapfrogged from Bharat Stage-IV (BS-IV) to Bharat Stage-VI (BS-VI) emission norms by April 1, 2020. A voluntary vehicle scrapping policy to phase out old and unfit vehicles now complements these schemes.

Transition from coal: Indian Railways is targeting the full electrification of all broad-gauge routes by 2023.

Deployment of clean energy: The Pradhan Mantri Ujjwala Yojana has benefitted 88 million households with LPG connections. More than 367 million LED bulbs have been distributed under the UJALA scheme. It has led to energy savings of more than 47 billion units of electricity per year and a reduction of 38.6 million tonnes of CO2 per year.

INDC commitment: India has already achieved a reduction of 24 per cent in the emission intensity of its GDP between 2005 and 2016, and is on track to meet its target of 33 to 35 per cent by 2030.

Contribution from Indian Industries: for instance, The Indian cement industry has taken pioneering measures and achieved one of the biggest sectoral low carbon milestones worldwide.

Why the role of Private sector is important?

Since industries also contribute to GHG emissions, any climate action will need to reduce or offset emissions that emerge from industrial and commercial activity.

Transition is relatively easier for Service Sector companies. However, the low-carbon transition is a challenge for bigger companies that are largely coal-powered and contribute more than half of our country’s emissions.

The business fraternity must make the best possible use of this opportunity to invest in climate technologies and expand the use of renewable energy sources.

Source: This post is based on the article “A partnership to carry India into net-zero future” published in Indian Express on 5^th   Jan 2022.