- Greater Policy Coordination
- Increased Investment
- A Movement Away from Fossil Fuel
- Greater Use of Technological Innovation
During the recently concluded COP 26 meeting in Glasgow, India announced its highly anticipated short term (2030) and long term (2070) country climate pledges, mitigation goals, and strategies. It plans to halve its carbon emissions by 2030 and achieve net zero status by 2070 laying out a number of specific measures on how to achieve it climate pledges. https://economictimes.indiatimes.com/news/india/global-media-hails-indias-commitment-in-cop26-summit/articleshow/87566929.cms
Between 2021 and 2030, India would: (1) increase its non-fossil fuel capacity to 500 GW, (2) fulfill its nation’s 50 percent energy requirements with renewable, (3) reduce one billion tons of projected carbon emissions, and (4) reduce the carbon intensity of its economy (per unit of gross national domestic product-GDP) to less than 45%.
By 2070, or earlier, India will reach the target of being a “Net Zero” economy.
Country’s Climate Mitigation Strategies
In order for India to be able to achieve the climate targets as announced, India would potentially deploy unique yet differentiated climate mitigation strategies that may include (but not limited to) the following measures:
Greater Policy Coordination
The objective of achieving both short-term and long-term measures on climate policies needs inter-ministerial coordination and inter-face between the legislature and the Prime Minister’s Office for effective subsequent implementation, countrywide. As India played a key role in setting the final text of COP 26 communiqué (from proposed ‘coal phase out’ wording to the final wording of phase down’ including stand for global South on climate financing issues), it is expected to play a pivotal role in achieving its own climate goals while supporting the global South and Small Island Developing Nations (SIDN) with necessary and requisite technology, financing and capacity building measures.
Achieving India’s climate mitigation strategies, plans, and targets will require more than US 500 billion by 2025 for transitioning to a clean and decarbonised economy. The government understands the difficulties in accessing green financing. It intends to develop bilateral funding partnerships with countries such as UK, France, US, Scandinavia and others. India also will seek to mobilise resources from the private sector, banking system, and multilateral systems.
A Movement Away from Fossil Fuel
While fossil fuel continues to remain a measure source of India’s energy requirements, the government will need to put in effect measures to slowly phase down its usage of fossil fuel while still meeting the growing energy needs of its people. India is committed to increasing its non-fossil fuel capacity to 500 GW, reducing of one billion tons of projected carbon emissions between now and 2030. India is set to achieve 450 GW of renewable energy installed capacity by 2030.
Greater Use of Technological Innovation
India’s efforts to ramp up its use of green technology are being driven by its own banking system, an international grid connectivity projects, bilateral cooperation, and its leadership at treaty based international organizations such as International Solar Organizations and CDRI.
Dr. Vibha Dhawan, Director General
Ms. Sunita Narain, Director General
This Post was submitted by Climate Scorecard India Country Manager Pooran Chandra Pandey