Climate change is an imminent global threat, manifesting in melting glaciers, extreme weather patterns, and the depletion of natural resources. As the world grapples with these critical challenges, nations are setting ambitious targets to curb their carbon emissions. India, the third-largest CO2 emitter globally, has committed to an ambitious goal: achieving net-zero emissions by 2070.
As Both Carbon Neutral and Net Zero are vital—Carbon Neutral manages immediate impacts, while Net Zero, guided by SBTi, aims for deep, long-term sustainability[1].
India's Carbon Footprint-
India is currently the third-largest carbon dioxide emitter globally, responsible for approximately 2,830 million metric tons of CO2 emissions in 2022[2]. The country’s energy mix is heavily reliant on coal, which supplies about 44% of its energy needs. Petroleum and other liquids contribute around 24%, while natural gas, a cleaner-burning fuel, accounts for just 6%. However, India plans to increase natural gas’s share to 15% by 2030 as part of its strategy to reduce air pollution and shift towards cleaner energy sources[3].
The Commitment to Net Zero by 2070
At the Glasgow COP26 climate summit in November 2021, Indian Prime Minister Narendra Modi announced India’s commitment to achieving net-zero emissions by 2070. This target is set 20 years later than those of North America and Europe and 10 years after China. Despite the delayed timeline, India’s commitment is significant, given its development needs and reliance on coal[4].
By 2030, India aims to:
- Increase its non-fossil energy capacity to 500 GW.
- Meet 50% of its energy requirements from renewable sources.
- Reduce projected carbon emissions by one billion tons.
- Lower the carbon intensity of its economy by more than 45%.
Decarbonization Goals: A Strategic Roadmap
India’s decarbonization strategy involves a series of ambitious goals aimed at transforming its energy sector:
- Coal Phase-Out: India plans to phase out coal in the industrial sector by 2065 and eliminate all other uses of coal by 2060.
- Renewable Energy Expansion: Wind electricity generation grew by 14% in 2022, but achieving the Net Zero 2050 target requires a 17% annual growth rate and a fourfold increase in capacity additions by 2030, necessitating stronger policy and private-sector efforts[5].
- Nuclear Power Growth: Nuclear energy, which currently plays a minor role in India’s energy mix, is expected to expand to 68 GW by 2050[6].
- Electric Vehicles: The transportation sector is set to undergo a massive transformation, with electric vehicles (EVs) projected to account for 84% of all car sales by 2050. Additionally, 79% of trucks are expected to be electric, with the remainder powered by hydrogen fuel cells.
- Biofuels: Biofuels can provide up to 27% of world transportation fuel by 2050
Challenges and Opportunities
India’s journey towards net-zero emissions by 2070 is fraught with challenges but also presents significant opportunities:
- Economic Growth vs. Emissions Reduction: Balancing economic growth with emissions reduction is a major challenge. India’s energy demands are expected to rise as its economy grows, making the transition to cleaner energy sources crucial but complex.
- Technological Advancements: Achieving the ambitious targets will require significant advancements in renewable energy technologies, electric vehicles, and energy storage solutions.
- Investment Needs: The transition to a low-carbon economy will require massive investments in infrastructure, technology, and capacity building. Mobilizing these resources will be critical to achieving the net-zero target.
India’s Potential to Lead
India’s commitment to achieving net-zero emissions by 2070 positions it as a potential global leader in the fight against climate change. The large-scale deployment of renewable energy and strategic investments in clean technology in the country could serve as a model for other developing nations. India’s success will depend on robust policy frameworks, international cooperation, and the active participation of all stakeholders.
Disclaimer: Above content does not constitute any legal advice and is only provided for educational purpose.
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[1] https://www.weforum.org/agenda/2022/08/carbon-neutral-net-zero-sustainability-climate-change/#:~:text=Carbon%20neutral%20can%20cover%20a,across%20its%20whole%20supply%20chain.
[2] https://www.investopedia.com/articles/investing/092915/5-countries-produce-most-carbon-dioxide-co2.asp
[3] https://flow.db.com/more/esg/india-s-path-to-net-zero#:~:text=Net%20zero%20roadmap&text=Phase%20out%20coal%20in%20the,wind%2Dbased%20generation%20capacity%3B%20and
[4] https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1945472