Earlier in November 2021, Prime Minister Modi made significant announcements at the COP26 climate summit. His explicit commitments in the form of international obligations have been widely appreciated. Let us take a look at the major takeaways:
- PM Modi said India will achieve net-zero carbon emissions by 2070
- India has also pledged to fulfill 50 per cent of its energy requirements from renewables by 2030.
- PM Modi shared that India, which has around 17 per cent of the world’s population, is responsible for only about 5 per cent of the total emissions.
You will observe that ‘net-zero’ is a term that has been emphasized repeatedly in the announcements. In this article, we will try to understand the meaning of the term and its significance in aiding climate change. Read on!
What is Net Zero?
Net zero refers to a state in which the greenhouse gases going into the atmosphere are balanced by removal out of the atmosphere. The term net zero is important because – for CO2 at least – this is the state at which global warming stops. The Paris Agreement underlines the need for net zero, requiring states to ‘achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century’.
Importance of Net Zero
- In case of unchecked carbon emissions, with time climate changes across the world are likely to be disastrous, bringing forth natural calamities in the form of severe floods, droughts leading to widespread displacement of people and loss of life and property.
- According to some expert reports, is expected that there will be a 2 to 6 degree Celsius rise in the global temperature from the year 2000 to 2100, which is 20 times faster than the normal growth rate. In fact, even a 2 degree rise in global temperatures can be cataclysmic.
- In the form of such alarming predictions, the international community decided to take cognizance of the issue and come forward to discuss solutions that can impede the growing risks.
How To Achieve Net Zero?
There are 4 main steps to achieve Net Zero that take careful analysis and implementation-
- Avoid– Perhaps the foremost measure to be taken is to avoid further increase in carbon emissions over and above the existing amount. This can be done by trying to regulate greenhouse gas emissions, increasing forest cover (which act as carbon sinks), using electrical vehicles wherever possible and other similar measures.
- Reduce– Governments across the world are expected to commit towards Net Zero by a definite deadline and by doing so they shall have to formulate and implement an actionable strategy that not only stops an increase but also reduces the carbon footprint of the country as much as possible. Such strategy is usually long-term.
Employing Carbon Capture and Storage (CCS) technologies are also expected to play an integral role in reducing carbon outputs. CCS involves the capture of carbon dioxide (CO2) emissions from industrial processes, such as steel and cement production, or from the burning of fossil fuels in power generation. This carbon is then transported from where it was produced, via ship or in a pipeline, and stored deep underground in geological formations.
- Invest– Cleaner, more efficient operations and supply chains result in a better performance across all aspects of a triple bottom-line account. Investing in renewable energy production, reduced energy consumption, materials and other resources all help bring down costs and carbon equivalents, leading to a return. The transition from dependence on fossil fuels to renewable sources of energy requires a substantial and consistent influx of high-level investments directed towards transforming investment and upkeep. For example, the Union Railway Minister Piyush Goyal recent announced that solar panels shall be installed near railway tracks as a step towards achieving ‘Green Railways’.
- Innovate– Rapidly building a climate positive future will call on human ingenuity and collaboration on an unprecedented scale. New ways of working, technologies, changing behaviours and values require innovation fusing finance, information, technology and human behaviour.
Needless to say, unlike other climate goals that have been promised now and then in various international conferences and summits, net zero is the need of the hour and has to be treated as such without complacency. Western countries such as the US as well as the EU countries have an added responsibility to focus on their environmental obligations as they contribute a greater share of the global footprint owing to their rapid industrial and technological development. The fact that India has declared a deadline is a positive sign as well. Strategy-wise, several experts feel that it is more reasonable to keep attainable short-term targets instead of focusing on unrealistic long-term ones. Changes in infrastructure should be initiated on a rolling basis. Most importantly, every policy on industrial expansion and development should be scrutinized and vetted from an environmental perspective- the challenge is to strike the right balance.
YLCC would like to thank Sachet Labroo for his valuable inputs in this article.
