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06-July-2024-Editorial

July 6 @ 7:00 am - 11:30 pm

INDIA TAKES FIRST STEPS TO MEET 2070 NET-ZERO GOAL, NITI AAYOG FORMS PANELS 

In recent developments, NITI Aayog has taken proactive steps towards India’s commitment to achieving a net-zero economy by 2070. This initiative follows India’s declaration three years ago at global climate summits.  

The formation of dedicated multi-sectoral committees aims to devise comprehensive policy frameworks and transition pathways across critical sectors to meet this ambitious target. 

Key Focus Areas of NITI Aayog’s Working Groups 

NITI Aayog has established six working groups focusing on various aspects crucial for transitioning towards a net-zero economy by 2070: 

Macroeconomic Implications: 

Objective: Analyze how net-zero pathways will impact macroeconomic indicators. 

Tasks: Recommend monetary and fiscal policies aligned with the net-zero transition. 

Climate Finance: 

Objective: Estimate India’s financial needs for climate mitigation and adaptation. 

Tasks: Identify potential sources of finance and investment mechanisms for sustainable projects. 

Critical Minerals: 

Objective: Research and develop domestic capabilities for critical minerals. 

Tasks: Focus on manufacturing and securing supply chains critical for renewable energy technologies. 

Social Aspects of Energy Transition: 

Objective: Assess the social impacts of transitioning to renewable energy sources. 

Tasks: Propose strategies to mitigate social disruptions and ensure equitable benefits. 

Policy Synthesis: 

Objective: Compile reports from sectoral committees into a consolidated policy handbook. 

Tasks: Provide a unified policy framework for central ministries to develop climate-resilient policies. 

Sectoral Committees (Transport, Industry, Buildings, Power, Agriculture): 

Objective: Develop specific transition pathways for key sectors towards achieving net-zero emissions. 

Tasks: Formulate actionable strategies, technology adoption roadmaps, and regulatory frameworks. 

Expected Outcomes 

The working groups are mandated to submit their action plans by October 2024, culminating in a comprehensive policy handbook by NITI Aayog.  

This handbook will serve as a guiding document for central ministries to draft policies aligned with India’s net-zero emissions target by 2070.  

The outcomes are expected to foster a holistic approach to climate action across all sectors of the economy. 

Net-Zero Target: Understanding the Concept 

The term “net-zero” refers to achieving a balance between the amount of greenhouse gases emitted into the atmosphere and the amount removed from it.  

It signifies carbon neutrality, where the net emissions are reduced to zero through various measures, including carbon sequestration. 

India’s Initiatives Towards Achieving Net-Zero 

India has laid out a comprehensive strategy to achieve its net-zero emissions target by 2070. Key initiatives include: 

National Action Plan on Climate Change: 

Aims to create awareness and coordinate efforts among various stakeholders to combat climate change. 

‘Panchamitra’ Climate Action Targets: 

Goals include reaching 500 GW of non-fossil energy capacity, deriving 50% of energy from renewable sources by 2030, reducing carbon emissions, and decreasing carbon intensity of the economy. 

Steps India Can Take to Achieve Net-Zero Emissions 

To effectively achieve its net-zero emissions target by 2070, India can focus on several strategic steps: 

Enhancing Carbon Sequestration: 

Expand forest cover, promote agroforestry, and adopt sustainable land-use practices to increase carbon sinks. 

Utilize carbon capture and storage technologies to remove carbon dioxide from the atmosphere. 

Building Climate Resilience: 

Strengthen disaster management systems and invest in climate-resilient infrastructure. 

Promote climate-smart agriculture and improve healthcare and social services for climate-affected communities. 

Driving Green Transportation: 

Accelerate the adoption of electric vehicles (EVs) through incentives and infrastructure development. 

Introduce smart transportation solutions to reduce emissions from urban transport. 

Climate-Smart Agriculture: 

Promote sustainable farming practices and integrate technology for efficient resource management. 

Enhance agricultural productivity while conserving natural resources. 

International Collaboration: 

Engage in technology transfer agreements with developed countries to acquire clean technologies. 

Secure international climate finance and collaborate with other nations to share best practices. 

Conclusion 

The formation of dedicated working groups by NITI Aayog marks a significant step towards realizing India’s commitment to achieving a net-zero economy by 2070.  

These initiatives underscore India’s proactive stance in addressing climate change and transitioning towards sustainable development.  

By focusing on policy frameworks, sector-specific strategies, and international collaborations, India can pave the way for a greener and more resilient future while contributing to global climate goals. 

Details

Date:
July 6
Time:
7:00 am - 11:30 pm
Event Category:
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