“Having the right policies, infrastructure and technology in place to enable e changes to our lifestyles and behaviour can result in a 40 -70% reduction in greenhouse gas emissions by 2050. Modi also added in Glasgow that such ambitious action will be impossible without adequate climate finance from developed nations, calling on rich countries to make $1 trillion available as climate finance “as soon as possible.” Energy transition away from coal in India will not take place in the “foreseeable future”, the coal ministry said in the Rajya Sabha last week, although the government will promote renewable energy.ĭubash in his chapter ‘Policy and Institutions’ in the report has provided an overview of the policies countries such as India can consider, which includes setting up institutions or commissions to oversee energy transition and mitigation and consider climate legislation to ensure its implemented. He said that India will reduce its total projected carbon emissions by one billion tonnes by 2030, reduce the carbon intensity of its economy by 45% by 2030, over 2005 levels, and achieve net-zero emissions by 2070. Speaking at the Glasgow climate summit on November 1 last year, PM Modi announced that India’s non-fossil energy capacity will reach 500 GW by 2030, meeting 50% of the country’s energy requirements by then. “The continued installation of unabated fossil fuel infrastructure will ‘lock-in’ GHG emissions.”īoth the messages on the lower costs of renewable energy and moving away from fossil fuels are important for India. Reducing GHG emissions across the full energy sector requires major transitions, including a substantial reduction in overall fossil fuel use, the report stressed. We have the tools and know -how required to limit warming,” said IPCC chair Hoesung Lee.
The decisions we make now can secure a liveable future. There are also large increases in the deployment of electric vehicles (EVs).Īn increasing range of policies and laws have enhanced energy efficiency, reduced rates of deforestation and increased the deployment of renewable energy, the report highlighted. Since 2010, there has been sustained decrease of up to 85% in the costs of solar and wind energy, and batteries, it found. The report, however, offers some positives. We are on a pathway to global warming of more than double the 1.5-degree limit agreed in Paris,” he added. “It is what science tells us will result from our current energy policies. This is not fiction or exaggeration,” said UN Secretary-General, António Guterres during the launch of the report. The extinction of a million species of plants and animals. We are on a fast track to climate disaster: Major cities under water. It is a file of shame, cataloguing the empty pledges that put us firmly on track towards an unliveable world. This report of the Intergovernmental Panel on Climate Change is a litany of broken climate promises. GHG emissions in 2030-based on implementation of nationally determined contribution (NDCs) - announced before COP 26 last year are unlikely to limit global warming to 1.5 degree C, the report has said. The focus should now be on limiting damage and doing as much as we can in short run,” said Navroz Dubash, professor at the Centre for Policy Research, a think tank, and coordinating lead author of the IPCC report. That’s one of the key takeaways from the report. “The next few years will be critical in scaling up mitigation action. If global CO2 emissions continue at current rates, the remaining carbon budget for keeping global warming to 1.5 degree C will likely be exhausted before 2030.
Access to global capital will depend on clear signalling from governments on their efforts to transition to a low carbon economy, the report said. The IPCC, however, states that there is sufficient global capital and liquidity to close investment gaps. Global financial flows from developed countries are a factor of three to six times lower than levels needed by 2030 to meet the Paris Agreement goal of keeping global warming under 2☌.
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