In order to meet its net-zero emissions target by 2070, India requires an extensive USD 10.1 trillion investment from this point onwards, as stated in the report by Getting India to Net Zero. Moreover, if the net zero emission target is to be met by 2050, the investment required by India would scale up to USD 13.5 trillion.
Net-Zero Emissions: Understanding the Target
The net-zero target, commonly known as carbon neutrality, does not necessitate a complete sweep of emissions to zero. It refers to a state where a country’s emissions are counterbalanced by the absorption and extraction of greenhouse gases from the atmosphere. This balance can be achieved through two methods. The first one involves increasing the absorption of emissions by creating more carbon sinks such as forests. The other method demands advanced technology for removing gases from the atmosphere, such as carbon capture and storage. Over 70 nations have promised to become net-zero by 2050, and India has committed to achieving this target by 2070 at the conference of parties-26(COP) summit.
India’s Road to Achieving Net-Zero Emissions by 2070
India’s renewable energy targets have been consistently expanding, with a goal of 175 GW by 2022 declared at Paris, then 450 GW by 2030 at the UN Climate Summit, and now 500 GW by 2030, announced at COP26. India aims to have 50% of its power generation capacity from non-fossil energy sources by 2030, an increase from the existing target of 40%, which has already been nearly met.
Nationally Determined Contribution (NDC) Goals
India has set out eight goals within its NDC. These include propagating a sustainable way of living based on traditions and values of conservation and moderation, adopting a climate-friendly path at corresponding economic development levels, and reducing the Emissions Intensity of its GDP by 45% by 2030 from the 2005 level. Additionally, the goals cover increasing non-fossil fuel-based energy resources, creating additional carbon sinks, better adapting to climate change, mobilizing funds for mitigation and adaptation actions, and establishing a domestic framework and international architecture for diffusion of cutting-edge climate technology.
India’s Initiatives Towards Net-Zero
India has embarked on one of the world’s largest solar energy installation initiatives. Regardless of whether it achieves the 175 GW capacity by 2022 or the 450 GW target by 2030, these are significant strides towards the net-zero goal. Other initiatives include the India Cooling Action Plan (ICAP) to address cooling needs and reduce demand, a number of energy efficiency initiatives by the Bureau of Energy Efficiency (BEE) and Energy Efficiency Services Limited (EESL), and the creation of the Compensatory Afforestation Management and Planning Authority (CAMPA) Fund for deforestation compensation and green cover restoration. India also announced a Hydrogen Energy Mission for grey and green hydrogen.
The Way Forward
The updated NDCs and net-zero targets set by India are ambitious, particularly considering its development needs in the post-COVID recovery phase. However, these promises align with the global pattern of incremental progress on climate action. The question that remains is whether limited short-term emissions reduction and ambitious long-term climate action plans will suffice to keep global warming below 1.5 degrees Celsius.
UPSC Civil Services Examination Question
In the 2016 prelims, the term ‘Intended Nationally Determined Contributions’ was seen in the context of plans outlined by countries worldwide to combat climate change. This contribution is used under the UNFCCC to reduce greenhouse gas emissions in all countries that signed the Paris Agreement. In the mains question of 2021, examinees were asked to describe the significant outcomes of the 26th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) and the commitments made by India in that conference.