In terms of reaching its goal of producing net-zero emissions of greenhouse gases (GHG), India is currently caught between the devil and the deep sea. The term “net-zero emissions” describes a situation in which the amount of greenhouse gas pollutants released into the atmosphere is equal to the amount that is removed from it. More than one hundred countries have already committed to reaching zero net pollution within the next thirty years.
Is it possible for India to make a target year announcement like other countries? That is not as easy as it sounds given that the country still has a long way to go in terms of its industrialization before it can fulfill the dreams and ambitions of its own population. It is anticipated that India’s desire for energy will increase significantly over the course of the following two decades. If a firm deadline is agreed upon, this may result in reduced consumption and slower economic development, or an increase in the cost of production as a direct consequence of the requirement to implement technological solutions to reduce emissions. As a result of the fact that more than two thirds of the population, such as cultivators, is dependent on climate-sensitive industries for their means of subsistence, India is one of the countries that is most at risk from the effects of climate change.
However, despite these challenges, the nation has made significant headway in its efforts to decouple economic development from increases in greenhouse gas emissions. India disclosed in its third Biennial Report to the UNFCCC (United Nations Framework Convention on Climate Change) that the emission intensity of gross domestic product had been reduced by 24 percent during 2005/16, which is within and before the target of 20-25 percent by 2020. The report was submitted because India is a party to the United Nations Framework Convention on Climate Change.
This special issue captures the enormous efforts that are taking place across the economy to match climate goals with the need for industrialization to meet the dreams and aspirations of the people of India. Specifically, this issue focuses on the efforts that are being made to meet the goals of the Paris Agreement on climate change. We begin by discussing how some of India’s largest corporate houses, such as Tata, Reliance, Aditya Birla Group, ITC, and Mahindra, among others, are putting in extra effort to reduce carbon emissions at their plants. They are doing this in a variety of ways, including switching to renewable power, reducing water usage, improving energy efficiency, and recovering waste heat.
Thermal power facilities that rely on coal are among the most significant contributors to pollution. Things may become more difficult as it is anticipated that India’s consumption for energy will skyrocket from 170 GW in FY20 to 430 GW in FY37. It is in this context that the Center’s efforts to create a base powered by renewable energy come into play. The nation had originally planned to generate 175 GW of renewable electricity by the year 2022, and 450 GW by the year 2030. By the end of the year 2020, the country had installed 89.63 GW, and another 50 GW is in the process of being implemented.
The Indian Railways, which is India’s biggest employer, is working toward the goal of becoming a fully-electrified network by the year 2023. Regarding other modes of transportation, the recent automobile scrappage policy is very discouraging, and the path to environmentally responsible investing is still fraught with obstacles. An fascinating case study is available on how the Alang ship-breaking yard in Gujarat has become environmentally friendly over the course of the years. As you progress through the book, you will become aware of how vital it is for the country to take steps toward a world with zero carbon emissions.
