The Road to Net Zero: India's Strategy for Sustainable Growth

India's Vision for a Sustainable Future

India perceives the journey towards net zero as a remarkable opportunity for infrastructure development and job creation over the next five decades. Nevertheless, the escalating carbon footprint poses a challenge, with emissions anticipated to peak between 2040 and 2045. To achieve net zero emissions by 2070, India must undertake significant transformations in its economy, which includes:

• Increasing Renewable Energy:
  • Solar and wind installations need to increase 70-fold.
  • Establishing infrastructure to facilitate green hydrogen production.
• Phasing Out Fossil Fuels:
  • Transitioning away from fuel oil, gas oil, and naphtha.
  • Enhancing the usage of natural gas.
• Investing in Technology:
  • Developing and implementing automation and energy management systems.
  • Mainstreaming emerging technologies.
• Improving Energy Efficiency:
  • Boosting the efficiency of boilers and furnaces.

Challenges Faced:

• Adverse state policies and regulations.
• Slow advancement in transitioning to renewable energy sources.

Key References:

• Wood Mackenzie highlights India's potential to lead the developing world in net zero initiatives.
• Business Today discusses government priorities for achieving net zero.
• Indian Oil aims for net zero by 2046, concentrating on energy efficiency and the transition to natural gas.
• Observer Research Foundation emphasizes the financial and infrastructure needs for reaching net zero by 2070.

Understanding Net Zero

Net Zero Definition: Achieving net zero emissions involves balancing the carbon dioxide emitted with the amount removed from the atmosphere.

Global Commitment: Under the Paris Agreement (2015), 193 parties pledged to limit the global temperature rise to well below 1.5°C to avert severe climate impacts. This commitment necessitates reducing global emissions by approximately 45% by 2030 (from 2010 levels) and reaching net zero by 2050.

National and Organizational Goals: Countries, cities, and companies are establishing net zero targets to contribute to this global effort, aligning with the goals of the Paris Agreement.