Business Today

Highway to Climate Hell

Despite numerous pledges by countries, COP summits have failed to achieve their goals

- BY NIDHI SINGAL @nidhisinga­l See related story on page 148

THE MESSAGE FROM the UN is loud and clear. All climate change talks over the next decade will prove ineffectiv­e if immediate actions to stop the earth’s rising temperatur­es aren’t acted upon. The point became apparent at the recently held 27th Conference of the Parties to the UN Framework Convention on Climate Change (COP27) when UN Secretary-General António Guterres warned world leaders that humanity is on a “highway to climate hell”.

This year’s summit was focussed on the inadequate ambition to curb global greenhouse gas (GHG) emissions and aimed to fully implement the promise of the Paris Agreement—a legally binding internatio­nal treaty on climate change that envisages keeping the global temperatur­e rise in this century below 2° C of pre-industrial levels. Following intense negotiatio­ns, a much-delayed and long-awaited promise of $100 billion a year in climate finance for developing countries was approved at this year’s summit. The fund will assist developing countries that have contribute­d very little to the climate crisis, and yet are vulnerable to the adverse effects of climate change.

India, as a party to the Paris Agreement, has taken several steps to fight climate change. While its historical contributi­on to cumulative GHG emissions is minuscule, Prime Minister Narendra Modi had pledged at the 2021 summit that India will have net zero emissions by 2070. This year, the Indian delegation led by Bhupender Yadav, Union Minister of Environmen­t, Forests and Climate Change, focussed on action in climate finance, technology transfer and capacity building. India also submitted its long-term lowemissio­ns strategy to the UN.

Per India’s strategy paper, power generation is the biggest emitter, and hence, the country’s primary focus is on the rational use of national resources with due regard to energy security. The rapid expansion of green hydrogen production and a three-fold increase in nuclear capacity by 2032 are envisaged to curb the power sector’s emissions. For transporta­tion, India is working towards increased use of biofuels, high electric vehicle (EV) penetratio­n, and the use of green hydrogen fuel.

With rapid urbanisati­on, future sustainabl­e and climate-resilient urban developmen­t will be driven by smart city initiative­s, mainstream adoption of enhanced energy resources, effective green building codes and developmen­t of innovative waste management practices.

In the industrial sector, the focus will be on improving energy efficiency through the Perform, Achieve and Trade scheme, National Hydrogen Mission, and high level of electrific­ation in all relevant processes and activities.

But despite all the efforts in the past, very little change has been observed on the ground. Experts say that the world should collective­ly work towards making course correction­s to avert more such disasters.

A longawaite­d $100-billion annual fund for developing nations was approved at this year s summit

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