Friday 22 / November / 2024
New Delhi: India's G20 Sherpa, Amitabh Kant, urged developed nations to accelerate emissions reduction targets to 2040 to align with the global net-zero goals by 2050, underscoring climate change as the paramount global crisis.
India committed to net-zero by 2070, China by 2060, and the G7 by 2050. The Energy Transition Dialogues, organised by the Global Energy Alliance for People and Planet (GEAPP) and the Observer Research Foundation (ORF), serve as a pivotal platform for addressing the transition to sustainable, low-carbon energy systems in the Global South.
GEAPP, comprising philanthropy, governments, and technology partners, aims to expedite universal energy access, inclusive economic growth, and climate objectives, collaborating with influential partners like the IKEA Foundation and Bezos Earth Fund.
The dialogues encompass renewable energy, energy efficiency, carbon reduction, and clean energy financing, striving to fortify existing efforts and forge new networks. The event also highlighted the ENTICE program and featured discussions led by prominent figures.
India, amidst its energy transition, focuses on sustainability and equitable growth, addressing energy demands with green technologies and innovation. Union Minister of Commerce and Industry Piyush Goyal emphasised the need for an alternate base load to coal and addressed concerns about the Carbon Tax, reiterating India's responsible approach.
India's Union Minister for Housing & Urban Affairs & Minister for Petroleum and Natural Gas Hardeep Singh Puri highlighted India's crucial role in global energy transformation, with the dialogues set to produce a comprehensive communiqué guiding the world's energy shift.
Amitabh Kant, India's G20 Sherpa, observed on November 1 that developed nations must accelerate their emissions target to 2040to meet the net-zero target by 2050, emphasising that climate change stands as the paramount global crisis."Advancing the net zero target to 2040 is essential for the developed world to achieve its goal of net zero by 2050," he emphasised, considering the developed world's consumption of nearly 90 percent of the world's carbon space. India has pledged to achieve net zero by 2070, while China has set its target for 2060. The Group of Seven (G7) countries have pledged to attain net-zero emissions by 2050.
The Energy transition in the Global South is a crucial and intricate shift towards sustainable, low-carbon, and fair energy systems. Despite facing development hurdles and unequal energy access, these nations acknowledge the necessity of moving away from fossil fuels to attain climate resilience and energy security. This transformation involves diverse efforts, such as expanding renewable energy sources, improving energy efficiency, and implementing innovative technologies.
Furthermore, this transition is closely linked to social and economic progress. It must aim to empower marginalized communities, create job opportunities, and enhance living standards for all. Achieving this will necessitate integrating people's aspirations into discussions about energy transitions and devising forward-thinking interventions that extend beyond energy policy to ensure an inclusive and prosperous energy transition.
Kant was addressing 'The Energy Transition Dialogues'. The Global Energy Alliance for People and Planet (GEAPP), in collaboration with the Observer Research Foundation (ORF), is organising The Energy Transition Dialogues (TETD). This initiative serves as a forum for various stakeholders to create strategies aimed at achieving a beneficial energy transition for people in India and globally.
The Global Energy Alliance for People and Planet (GEAPP) consists of philanthropy, governments from emerging and developed economies, and technology, policy, and financing partners. Its collective goal is to facilitate the transition of LMICs to a clean energy, pro-growth model.
This transition aims to expedite universal energy access and foster inclusive economic growth, while aiding the global community in achieving crucial climate objectives over the next decade. As an alliance, it strives to reduce 4 Gigatonnes of future carbon emissions, provide clean energy access to one billion individuals, and generate 150 million new jobs. Through collaboration with philanthropic partners such as the IKEA Foundation, The Rockefeller Foundation, and Bezos Earth Fund, GEAPP is dedicated to establishing the necessary conditions, capabilities, and market environment for private sector solutions. It aims to stimulate the development of new business models through innovation and entrepreneurship, and to allocate high-risk capital to encourage private sector participation and support equitable transition solutions.
The Dialogues serve as a crucial platform for promoting worldwide collaboration in the pressing task of attaining a sustainable, pollution-free energy future. Aligned with the recently concluded G20 summit, the Dialogues concentrate on six significant areas: boosting Renewable Energy (RE) and Battery Energy Storage Systems (BESS) to reach 50GW annually; expanding energy efficiency; modernizing utilities; reducing carbon emissions in transportation; ensuring a positive energy transition for people, and facilitating clean energy funding.
The three-day event used various formats, such as closed-door and public discussions, with the objective to find ways to strengthen current efforts and establish fresh, self-sufficient networks that can speed up the energy transition.
The recipients of the latest ENTICE (Energy Transitions Innovation Challenge), organised by GEAPP were honoured at the commencement of the Dialogues. In its initial iteration, the program presented four issues to be addressed by innovators and entrepreneurs, focusing on creating economical, influential, and expandable solutions for energy storage systems, dispersed renewable energy (DRE), budget-friendly DRE rates for users, and AI utilization to enhance household appliance efficiency.
On the inaugural day of the Dialogues, prominent figures from India and various global regions gathered together. Discussions spanned topics from India's role in the energy transition under the G20 presidency to the establishment of the Global Biofuels Alliance. Collaboration among Global South nations on clean energy and sustainable development was also a focal point. Notable figures such as Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, Amitabh Kant, G20 Sherpa for the Indian government, and Professor YemiOsinbajo SAN, Former Vice President of Nigeria, led the sessions.
Another major highlight was the introduction of the notable GEAPP-ORF long-form compendium, led by Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Government of India. The day ended with significant discussions on energy transition partnerships involving ministers from various Global South nations.
India is focused on a comprehensive energy transition, aiming to fulfill its energy needs through sustainable means, as emphasised by India’s Union Minister Piyush Goyal during Energy Transition Dialogue. With anticipation of significant economic growth over the next three decades, India's energy transition encompasses two critical aspects: reducing past consumption levels and addressing the energy demands spurred by this growth.
To achieve these goals, India has been intensifying its efforts across various fronts, including promoting clean energy equipment production and facilitating the shift towards green hydrogen and ammonia. The government's production linked incentive (PLI) programme has successfully fostered manufacturing in diverse sectors beyond mobile phones, such as auto components, technical textiles, and specialty skills.
Recognising the crucial role of transitioning from coal, Goyal highlighted the intermittent nature of alternative green sources like wind and solar power. He stressed the necessity for an alternate base load to coal, advocating for the international power grid envisioned by Prime Minister Modi as a potential solution.
Regarding the Carbon Tax, Goyal reassured that ongoing dialogues with the European Union and its countries will mitigate potential concerns for India, ensuring no additional tax on exports if the originating country's carbon tax aligns with the EU's standards.
In the context of financing the energy transition, Goyal emphasised the responsibility of developed nations to extend support, considering India's relatively minimal contribution to global greenhouse gas emissions. Criticizing the lack of sufficient concessional finance, he underscored the developed world's responsibility for the current state of global environmental challenges.
"According to Hardeep Singh Puri, India holds a pivotal position in the global energy landscape. This is not just due to its potential for economic expansion and consumer demand, but also because our leadership is committed to exploring new energy transition options. To facilitate a smooth and eco-friendly shift, the formation of fresh alliances, institutions, and partnerships is imperative. A detailed communiqué will also result from the discussions. It will seek to act as a guide for India and the world's energy shift.
In an era defined by the existential challenge of climate change, the Energy Transition Dialogues stand as a beacon of hope and collaboration. Amitabh Kant's call for expedited emissions reduction, the commitment of nations to net-zero goals, and the vision of the Global Energy Alliance for People and Planet collectively highlight the urgent transition towards a sustainable, low-carbon energy landscape.
These dialogues offer a platform to fortify existing efforts, cultivate innovative solutions, and establish new networks that can hasten the journey towards a cleaner, equitable, and secure energy future. As we approach COP 28, these discussions hold paramount significance in shaping the global response to climate change. It is a shared commitment, across borders and sectors, to safeguard our
