• UGI USER
  • Aug 06, 2024
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INDIA INC POISED FOR GLOBAL LEADERSHIP IN CLIMATE ACTION

Why in the news?

India’s industry leaders are stepping up global climate action roles, with key appointments and ambitious renewable energy goals, positioning India as a potential leader in the clean-tech sector.

source:slideshare

Key Developments:

  • Indian industry has the potential to take on a global leadership role in climate action.
  • Sumant Sinha, CEO of ReNew, appointed co-chair of the Alliance of CEO Climate Leaders.
  • Indian companies, including Reliance Industries, actively participate in global climate initiatives.
  • India assumed the presidency of G20 and Clean Energy Ministerial in 2023, with significant industry involvement.

India’s Climate Goals:

  • Aiming for net-zero emissions by
  • Targeting renewable sources for 50% of energy needs by
  • Plans to achieve 500 GW of fossil fuel-free generation capacity by
  • Requires quadrupling annual wind and solar capacity installations and adopting green hydrogen.

Strategic Actions Needed:

  • India should position itself as a global manufacturing hub for clean-tech products.
  • Strengthen ties with EU and US trade bodies and corporations.
  • Enhance US-India clean energy partnerships to access advanced climate technologies.
  • Align Indian policies with international standards and transition legacy industries like oil, gas, steel, and cement towards decarbonization.
India’s Actions Regarding Climate Diplomacy:

  • Climate Policies for Leverage: India uses climate policies to enhance its foreign policy and geostrategic position.
  • Cooperative Strategy: Emphasises responsibility through diplomacy and sustainable energy investments, enhancing global influence.
  • International Solar Alliance (ISA): Launched in 2015, demonstrating leadership in climate engagement.
  • 21st Conference of the Parties(COP21)Commitments: Accepted 1.5°C target limit and announced ambitious renewable energy programs.
  • Paris Agreement Progress: On track with pledged Intended Nationally Determined Contributions(INDCs), as noted by UNEP’s Emissions Gap Report 2019.

Intended Nationally Determined Contributions(INDCs):

  • Reduce emissions intensity of GDP by 33-35% by 2030 from 2005 levels.
  • Achieve 40% cumulative electric power from non-fossil fuels by 2030.
  • ○Create an additional carbon sink of 2.5-3 billion tonnes of CO2 equivalent through increased forest and tree cover by 2030.

Global Contributions and Initiatives:

  • International Leadership: Recognized for its role in the Paris Agreement and sustainable development goals.
  • Renewable Energy: Leading in renewable energy investments, surpassing fossil fuels.
  • National Programs: Programs like  National Action Plan on Climate Change(NAPCC), International Solar Alliance(ISA), and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles Scheme (FAME) promote global climate action.
  • Single-Use Plastic Ban: Recently banned single-use plastics, tackling air pollution and climate change.