The global warming fight has a challenge for India

COP29, held in Azerbaijan, has been criticized for its failure to deliver meaningful progress in combating climate change, particularly concerning global emissions reductions. Amid political transitions, especially with the potential return of the Trump administration, the world faces mounting pressure for countries like India to act on emissions peaking by 2025. Despite this pressure, India’s development needs complicate its energy transition, as it seeks to meet growing energy demands while mitigating climate impacts.

Global Climate Challenges

• Disappointing COP29 Outcome: COP29’s outcome was seen as inadequate in addressing the critical need for rapid emissions reductions. With global climate negotiations stuck, nature continues its shift towards a hotter planet.
• Energy Transition Deadlines: Developed countries target net-zero emissions by 2050, while China and India aim for 2060 and 2070, respectively. This sets a challenging framework for India’s energy demands and development needs.
• Pressure for Early Emissions Peaking: The global call for emissions peaking by 2025, led by the G-7 and major economies, puts pressure on India, which is yet to commit to such a deadline, while other nations like the EU and the US are already on track.

India’s Energy Transition Dilemma

• Electricity Demand Growth: India’s electricity consumption is only a third of the global average, requiring rapid growth in generation to meet future energy needs. This growth is necessary to avoid an energy deficit and maintain economic progress.
• Challenges of Transition Technologies: While renewable energy and nuclear power are key to the energy transition, India’s reliance on existing technologies like small modular reactors and hydrogen faces long timelines for commercialization and scalability.
• Cost and Land Constraints: Renewables, while emission-free, have higher costs due to storage and transmission, and demand excessive land use. Nuclear power offers a more cost-effective and land-efficient alternative but requires significant government support.

Financial and Political Implications

• Global Finance Shortfall: Developed countries have committed only $300 billion annually for climate finance by 2035, far below the $1.3 trillion demanded by developing nations like India. The uncertain political landscape, including the potential return of Trump, further complicates the future of this financial support.
• Carbon Trading Mechanism: COP29 finalized rules for carbon trading, allowing wealthier nations to offset emissions by purchasing carbon entitlements from developing countries. This poses a challenge for India if it cannot diversify to cleaner energy sources before its emissions peaking deadline.
• Need for Political Consensus: For India’s energy transition to succeed, a political consensus is necessary to ensure investments in generation assets and fair pricing mechanisms, as public and private sectors must collaborate to meet the looming energy demands.

Practice Question:

Q. Critically analyze the challenges faced by India in balancing its energy transition to net-zero emissions with its developmental needs, in light of global climate agreements and the rising pressure to peak emissions by 2025.