Pushpank Kaushik talks about India’s endeavours in laying the foundation for a sustainable future through ambitious renewable energy initiatives.

At the 26th session of the United Nations Framework Convention on Climate Change (COP 26) in November 2021, India committed to achieving net zero emissions by 2070, aligning with the Paris Agreement’s goals under Article 4, Paragraph 19. This ambitious target reflects India’s dedication to a low-carbon development strategy, grounded in principles of equity, climate justice, and common but differentiated responsibilities. India has already surpassed its renewable energy target, achieving over 40 per cent non-fossil installed capacity nine years ahead of schedule. With plans to further reduce emissions intensity by 24 per cent below 2005 levels, the country aims to decouple economic growth from carbon emissions.

Sectors like manufacturing, especially cement, steel and chemicals, remain significant emission contributors. To decarbonise these industries, India is focusing on the circular economy, energy efficiency, electrification of heat and adoption of low-carbon fuels and technologies. By 2030, the country’s renewable energy advancements, excluding large hydro, are expected to reduce CO2 emissions by approximately 877 million tonnes.

By withdrawing inefficient thermal units—241 have already been closed—and switching to supercritical units for additional capacity, India is also concentrating on clean coal technologies. Efforts include encouraging electric vehicles and moving from BS IV to BS VI requirements for cleaner transportation. By 2030, the Ministry of Railways hopes to reduce its CO2 emissions by 60 million tonnes, making it a net zero carbon emitter.

Additionally, it is anticipated that the UJALA programme, the biggest LED endeavour in the world, will save 40 million tonnes of CO2 yearly.

Potential challenges
India’s commitment to a net zero target by 2070 faces significant challenges, according to the World Economic Forum (WEF). The nation is the third-largest emitter of greenhouse gasses after China and the US, and has the potential to meet this goal; they emphasise the need for more concrete sectoral targets, trajectories, and short-term milestones. The urgency for this initiative is underscored by India’s status as home to some of the world’s most polluted cities, contributing to high pollution-related mortality rates. Additionally, funding remains a critical issue as achieving the 2070 target requires an investment of $10.1 trillion; if the goal is accelerated to 2050, this figure increases to $13.5 trillion.

India’s progress toward net zero
Over the past nine years, India has made significant strides in its fight against climate change.

These include:

• Exceeding renewable targets: Surpassed the 40 per cent renewable energy commitment ahead of the 2030 Paris

Agreement target.

• National hydrogen mission: Launched to promote cost-effective green hydrogen production.
• NITI Aayog’s framework: Established a comprehensive policy framework for achieving a net zero economy by 2070, focusing on transition plans, identifying challenges and proposing strategic climate policies.

Moreover, several industries as well have taken initiatives to achieve this goal:

Cement industry: According to the report by CEEW, as the second-largest cement producer globally, it is expected that cement demand will be boosted by India’s focus on infrastructure development. The lead in implementing energy-efficient measures and setting ambitious net zero targets is also being taken by the cement industry, with significant aid provided by the successful execution of the Perform, Achieve and Trade (PAT) scheme, which fosters the adoption of energy-efficient technologies.
Shipping industry: The Harit Sagar Green Port Guidelines and Harit Nauka Green Transition Guidelines are global initiatives that promote the use of green energy, sustainable port operations, and cleaner shipping practices. India plans to achieve net zero carbon emissions by 2070, with significant steps to decarbonise the maritime industry in accordance with the Maritime India Vision 2030. This includes investments in green port infrastructure, clean harbour boats, zero carbon fuels, emissions reduction measures, and the electrification of inland waters.
Power sector: In the 2024 budget, the government allocated 50 per cent more funds to power sector initiatives, focusing on green hydrogen, solar energy, and green energy corridors to meet its renewable energy target for 2030. To address the coal demand-supply mismatch, the Ministry of Power plans to replace coal with renewable energy generation in 81 thermal units by 2026. The Central Electricity Authority (CEA) projects that India’s power requirement will rise to 817 GW by 2030, with renewable energy’s share expected to increase from 18 per cent to 44 per cent, while thermal energy’s share is anticipated to decrease from 78 per cent to 52 per cent.
Chemical sector: With 100 per cent FDI allowed under the automated route in the chemicals sector, global investments bring modern technologies and environmentally friendly industrial practices. The centre is also establishing a Production Linked Incentive (PLI) scheme to improve cost competitiveness in the sector, which indicates a strong commitment to environmentally responsible practices and contributes to the overarching objective of net zero emissions.

India’s transformation to a green economy is more than simply an ambitious goal; it is a well planned journey backed by clear policies and investments. India is establishing the groundwork for a sustainable future by pushing renewable energy programmes including green hydrogen, ethanol blending, and electric vehicles, as well as the PLI plan for solar PV installations. The difficulty is to balance the energy demands of a rising economy with the transition to a low-carbon energy mix, but with integrated planning and the implementation of new technologies, the route to net zero emissions by 2070 is becoming clearer. This comprehensive approach ensures that everyone has access to inexpensive, reliable energy, even after the net zero targets are met.

About the author: Pushpank Kaushik, CEO & Head of Business Development, Jassper Shipping, is a driven and enthusiastic CEO. His remarkable managerial skills and insights gained during his education from SP Jain School of Global Management has helped him to lead the company towards success.