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India needs a $10 tn investment for reaching the net-zero emission target by 2070

GS Paper 3

Syllabus: Environment Conservation

 

Source: Indian Express

Direction: Data can be noted, read the findings once.

Context: According to the ‘Getting India to Net Zero’ report, to achieve a net-zero emissions target by 2070, India needs a $10-tn investment from now

Other Findings:

  • Create a million jobs: Achieving net zero by 2070 would boost annual GDP by up to 4.7% by 2036 and create as many as 15 million new jobs by 2047.
  • Set to achieve 2015 target: India’s NDC targets set in 2015 are likely to be met early within the next few years through current policies
  • India could peak in emissions as soon as 2030.
  • Ending new coal by 2023 and transitioning from unabated coal power by 2040 would be particularly impactful for reaching net zero emissions closer to mid-century,” it says.
  • Acknowledged historical responsibility: Historical responsibility for emissions does lie with the West – and the transfer of finance and technology to developing countries is crucial in this challenge.

 

About the Report:

  • Report released by former Australian prime minister Kevin Rudd (Convenor of High-level Policy Commission on Getting Asia to Net Zero)
  • The Getting India to Net Zero report contains new research and modelling and finds that policies to initiate the clean energy transition

 

India’s Panchamrit pledge at COP26:

  1. Reach 500 GW of Non-fossil energy capacity by 2030.
  2. 50 per cent of its energy requirements from renewable energy by 2030.
  3. Reduction of total projected carbon emissions by one billion tonnes from now to 2030.
  4. Reduction of the carbon intensity of the economy by 45 per cent by 2030, over 2005 levels.
  5. Achieving the target of net zero emissions by 2070.

 

The mantra of LIFE- Lifestyle: Lifestyle for Environment has to be taken forward as a campaign to make it a mass movement of Environment Conscious Lifestyles.

  

Insta Links

COP 26 Pledge

 

Mains Link:

Link it with sustainability, efforts towards it, and impact on earth and India if pledges are not met.

Q. Discuss the ways in which India can achieve its ambitious targets of net zero emissions by 2070.

 

Prelims Link:

Know about various institutions involved in climate mitigation/assessment efforts.

Consider the following statements : (UPSC 2022)

    1. “The Climate Group” is an international non-profit organization that drives climate action by building large networks and running them.
    2. The International Energy Agency in partnership with the Climate Group launched a global initiative “EP100”.
    3. EP100 brings together leading companies committed to driving innovation in energy efficiency and increasing competitiveness while delivering on emission reduction goals.
    4. Some Indian companies are members of EP100.
    5. The International Energy Agency is the Secretariat to the “Under2 Coalition”.

Which of the statements given above are correct?
(a) 1, 2, 4 and 5
(b) 1, 3 and 4 only
(c) 2,3 and 5 only
(d) 1, 2, 3, 4 and 5

Answer: B

Climate group is an international non-profit founded in 2003, with offices in London, New York, New Delhi, Amsterdam and Beijing.   EP100 is a global initiative led by The Climate Group and the Alliance to Save Energy. ( and not by IEA, so 2 is wrong)

EP100 initiative brings together a growing group of energy-smart companies committed to improving their energy productivity and doing more with less greenhouse gas emissions. India’s own Mahindra group is one of the leaders in cutting carbon emissions.

Climate Group (and not IEA) is the Secretariat to the Under2 Coalition.