Medilytix Bureau:

India has committed to reduce greenhouse gas (GHG) emissions by 1 billion metric tonnes by 2030 and has additionally committed to a net zero carbon emission target by the year 2070. Being a developing country, which is at an inflection point in terms of its energy consumption, the nation’s per capita energy consumption is expected to surge 3x-4x over the long term, the report said.

“In order to achieve the net zero target by 2070, a focused roadmap would be required. It calls for timely interventions by the government and large capex/investments in GHG emitting sectors like power, industry and transport. These sectors together emit ~90 per cent of CO2 as per 2019 data of International Energy Agency. Ambitious targets for COP26 opens massive investment opportunities across segments stemming from 500 GW renewables by 2030, higher EV penetration (~10 per cent by 2025), 20 per cent ethanol blending for petrol (~3x increase from current levels), improvement in energy efficiencies (battery storage, smart cities, etc.) and improvement in carbon capture from enhancing green cover and use of advanced technologies,” Rohit Ahuja, Head of Research and Outreach, ICRA said.

Leave a Reply

Your email address will not be published. Required fields are marked *