Can We Offer A Credible Strategy For The Reduction Of Emissions?

Context: There is a need to present CoP-26, a carbon-reduction strategy conditional on a global package that includes adequate access to finance.

Cautions about climate change

• The United Nations’ Intergovernmental Panel on Climate Change (IPCC) has warned that we are set to exceed the target of limiting global warming to 1.5° Celsius above pre-industrial levels. 
• The outcome will be disastrous for the planet, and India will be one of the worst sufferers.
• Huge financing needs: The IPCC has estimated that the developing world as a whole will need $600 billion per year up to 2050 for the energy sector alone. 
• India will need $150 billion per year or about 1.8% of GDP. Some of this will have to come from the central government or its public sector undertakings and some from states, but most from private investors.

Positive developments in climate change

• If emissions can be drastically cut this decade, we may be able to get back to the 1.5°C limits after a temporary overshoot.
• The US, EU, UK, Japan and others, including developing countries, have endorsed the target of reaching net-zero emissions by 2050. Some nations have announced the intention of halving emissions by 2030.

Considering India’s strategy for reducing emissions

• Increasing the efficiency of energy use in all sectors to reduce our total demand for energy.
  • Its scope is in transport where all kinds of passenger vehicles, including city buses, can be electrified. Railways are already being electrified.
• Shifting from fossil fuels towards electricity as the final energy carrier in different sectors.
  • While industrial shift away from fossil fuels would be difficult (since they require high temperatures), commercial breakthroughs in the production of green hydrogen in the coming decades may make a big difference.
• Moving away from fossil fuels to renewables, mainly solar and wind, for power generation.
  • Grid management due to intermittent renewable supply can be done using battery storage at a grid scale.
  • Need to plan systematically to attract investment in the production of technologically advanced batteries to meet our domestic demand as well as for exports.
• Removing emissions from the unavoidable use of fossil fuels through technologies such as carbon capture or by afforestation.
• Drawing credible emission reduction strategy: NITI Aayog should be tasked with reviewing studies, consulting stakeholders, and produce a credible transition plan for consideration by the government.
  • An important part of the transition should be the phasing out of coal-based generation.