India views the journey to net zero as a significant opportunity for infrastructure development and employment over the next 50 years. However, the growing carbon footprint is a concern, with emissions expected to peak between 2040 and 2045. To reach net zero emissions by 2070, India must implement substantial changes in its economy, including:
1. Increasing Renewable Energy:
• Solar and wind installations need to increase 70-fold.
• Building infrastructure to support green hydrogen production.
2. Phasing Out Fossil Fuels:
• Transitioning away from fuel oil, gas oil, and naphtha.
• Increasing the use of natural gas.
3. Investing in Technology:
• Developing and adopting automation and energy management systems.
• Mainstreaming emerging technologies.
4. Improving Energy Efficiency:
• Enhancing the efficiency of boilers and furnaces.
Challenges Faced:
• Unfavorable state policies and regulations.
• Slow progress in transitioning to renewable energy sources.
Key References:
• Wood Mackenzie: Highlights the potential for India to lead the developing world in net zero initiatives.
• Business Today: Discusses government priorities for achieving net zero.
• Indian Oil: Aims for net zero by 2046, focusing on energy efficiency and transition to natural gas.
• Observer Research Foundation: Emphasizes the financial and infrastructure requirements for reaching net zero by 2070.
UNDERSTANDING NET ZERO
Net Zero Definition:
Reaching net zero emissions means balancing the amount of carbon dioxide emitted with the amount removed from the atmosphere.
Global Commitment:
Under the Paris Agreement (2015), 193 parties pledged to limit global temperature rise to well below 1.5°C to avoid severe climate impacts. This requires reducing global emissions by about 45% by 2030 (from 2010 levels) and achieving net zero by 2050.
National and Organizational Goals:
Countries, cities, and companies are setting net zero targets to contribute to this global effort, aligning with the Paris Agreement’s goals.
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