Need right balance between development & carbon emissions

There is a need to strike the right balance between development and carbon emissions mitigation globally, as per the review of the economy released by the economic division under the finance ministry. For many nations, access to energy is more important and immediate concern, it said.

India's own policies on energy transition are blended with near term pragmatism and long-term goal of cutting fossil fuel dependence, it added.

"Ambitious climate policies that are not pragmatic to factor in the need for energy security have socio-economic costs in the short to medium term, even if they may benefit in the very long term," the review added.


Development is key for effective climate mitigation action in the medium to long run. However, the current global approach to climate change is set on a course that runs the risk of making the low-income status of several nations permanent. The country's ambitious expansion in the installed non-fossil fuel capacity, strategic interventions, energy efficiency and financial incentives are driving its pursuit of enhanced nationally determined contributions (NDCs) by 2030 and the goal of reaching net zero by 2070, the review said.

The installed capacity of non-fossil fuel energy has more than doubled in the last nine years to 187 GW, which accelerated the implementation of the country's targets, the review report said.

The development of solar parks and ultra mega solar power projects, rooftop solar scheme, green energy corridor, production-linked-incentive (PLI) scheme for manufacturing solar modules and for advanced chemistry cell (ACC) battery storage, among others have helped in the energy saving and a shift to non-fossil fuel energy.