A climate dividend: On India, net zero and the energy transition

as it prepares to withstand the pressure COP26 of the United Nations Framework Convention on Climate Change in GlasgowIndia is taking the stand that A national deadline for net zero carbon dioxide emissions is not needed, given his moral claim to a large part of the remaining global carbon budget. The budget, which represents the estimated amount of future emissions that would allow global average temperature rise to be kept within a safe range – 2 °C or below 1.5 °C. Paris Agreement – Must be shared by all countries anyway. Since China, the US and the EU collectively, which represent the highest emissions, are expected to occupy a large portion of the calculated remaining budget, between 420–580 gigatons of CO.₂India will again rely on its historic energy poverty, underdevelopment and low per capita emissions to convince the world that the net zero target is inconsistent with the current reality. Yet, as the Center must acknowledge, a minimalist approach is not an option, given the global repercussions of emissions for all vulnerable countries and India’s own alarming losses from periodic extreme weather events. This will help identify green growth pathways, align future investments with a smart recovery plan for COVID-19, more widespread adoption of renewable energy and the long-term lock-in effects of fossil fuel dependence in energy generation, buildings. To stop could seek convergence with the world. mobility and so on.

One Instant jump in net zero can be avoided, And A key message in Glasgow It would be that it has yet to deliver on the $100 billion a year promise by 2020 to help poor countries adapt to climate change; But India’s case can only be strengthened with a clear plan for a multi-sectoral energy transition. For example, there is little evidence that an indirect carbon tax in the form of a much higher levy on motor vehicle fuels has been earmarked for a major green push through affordable electric mobility, or even. That all citizens are also given financial dividends to reduce the price effect of inflation. required consumption. As the National Scientific Advisers argued in a joint statement on the eve of the United Nations Climate Conference – and to which India’s Principal Scientific Adviser is a signatory – it is important for governments to formulate precise technical, socio-economic and financial policies and requirements. Necessary. To demonstrate commitment to the 1.5°C target. While emphasizing the argument for a medium-term window to reduce carbon emissions, the country must seize the moment and present concrete plans to attract climate finance in the current decade. If severe floods, droughts and more frequent storms destroy citizens’ property, future governments today will have to pay for their lack of foresight.