On climate and green transition, the areas of India-EU convergence
What is a fair contribution to the global fight against the climate crisis? It is a question at the heart of discussions in both the European Union (EU) and India. We know that at the Glasgow summit in November this year, our individual efforts will again be added up and tested against the limits of what our planet can endure. The health and well-being of our people are on the line.
The climate and biodiversity crises are global crises. They require solutions that carry the support of all, and provide support to all. The Paris Agreement commits us to following the best available science and achieving net-zero emissions in the second half of this century. But it also calls on us to do so on the basis of equity, in the context of sustainable development and efforts to eradicate poverty.
In recent years, the world has watched India’s rise, growing its economy at rates we can only admire. India’s efforts to decouple growth from a dependence on fossil fuels have the potential to make economic development more sustainable and supply the rural poor with clean, affordable and reliable energy.
On track to overachieve the Paris targets it set for itself in 2015, India is demonstrating how efforts to cut emissions and increase prosperity can reinforce each other — for reduced reliance on coal, investments in mass transportation, and emissions standards can strongly improve the quality of urban life and public health. And that is needed, because air pollution is detrimental to our health, and, as estimated by the World Health Organization, accounts for up to 4.2 million premature deaths worldwide per year.
EU also faces the urgent challenge of greening and growing our economy, and promoting a just transition that leaves no one behind. It is with these objectives in mind that EU has committed to achieve a net-zero emission economy by 2050, and we have enhanced our Paris target from a 40% emissions reduction by 2030 to at least 55%.
Even though our starting points differ, I believe there is more that unites than divides us. Still dependent on the import of polluting fossil fuels, we need to find ways to decarbonise without de-industrialising. We are both developing strategies to speed up the introduction of green hydrogen, working together through international partnerships such as Mission Innovation, and the International Solar Alliance. Through the Leadership Group for Industry Transition, we are collaborating on exploring how heavy industries that connect our economies can produce steel and other goods without producing greenhouse gas emissions.
As close partners in trade and investment, we now must work to accelerate investment in zero-carbon tech and align our finance more closely with achieving the Paris goals, from government procurement to private sector investments, to export credits and development assistance. More immediately, we need to ensure that the additional stimulus we will inject into our economies spurs a green recovery from the Covid crisis. Our cooperation through the International Platform for Sustainable Finance enables us to share ideas on how to help investors identify green investments.
Finally, it is clear that our societies are feeling the effects of the climate crisis. While we work to cut emissions, we need to prepare for the unavoidable and keep building the resilience of our societies, and, in particular, the most vulnerable. As part of EU’s adaptation strategy, we are scaling up our commitment to support communities both at home and around the world, and are pleased to have joined the Coalition for Disaster Resilient Infrastructure launched by India.
India and EU must face these shared challenges in partnership. We both share a belief that strong government goals can drive innovation in our economies and contribute to reaching the Paris Agreement’s goals. Our economies depend on each other through deeply connected supply chains and investment flows. Our fates are intertwined and we are bound to the same planetary limits.