Climate change has altered the face of the earth as we know it and will continue to do so until global disclosure on climate change intensifies. The heart of this debate lies in the discussion of the nation¡¯s limitations on the carbon budget. India stands at a crucial crossroads, weighing its actions against its carbon budget limitations.
The carbon we can release to stay within a certain temperature limit is like a shared resource for the whole world. But it's not endless, and it's important to fairly divide it, following the United Nations Framework Convention on Climate Change (UNFCCC) principles. India needs to see its "fair share" of this carbon budget as a vital resource that's quickly running out because richer countries are using up more than their fair share.
India¡¯s stand in the 28th Conference of the Parties (COP28) will decide its commitment to meeting its climate goals. The NITI Aayog-U.N. Development Programme¡¯s Multidimensional Poverty Index Report 2023 found that India has lifted over 135 million people out of poverty in less than five years (2015-2021). Additionally, the country has expanded food security support to more than 800 million individuals through PM Garib Kalyan Ann Yojna, showing the significant effort needed to fight poverty.
As a prominent participant in COP28, our country faces the dual challenge of fostering economic growth while curbing air pollution. Major goals to use cleaner energy, encourage electric cars, and make stricter rules about emissions are the need of the hour. But fixing this problem needs help from lots of areas like businesses, transport, and how the country is run.
There should be emphasis on the need for developed countries to fulfill their commitments to financial and technological support in order to assist developing nations in mitigating and adapting to climate change impacts. At COP28, India must demand a fair share of its carbon budget or equivalent reparations to bring about fairness within the global order.
India stands out globally because of its ambitious goals and efforts in renewable energy. Moreover, there is a need to reach 450 gigawatts of renewable energy by 2030, to match their promise in the Paris Agreement and tackle their growing energy demands.
Still, India encounters hurdles as it shifts from fossil fuels while infrastructure limitations and the nation's reliance on coal pose significant challenges. Juggling economic growth and environmental preservation proves to be quite a tricky balancing act.
As the world watches and awaits concrete actions post-COP28, India stands in a crucial position. Its ability to navigate through the problems of sustainable development while curbing emissions will significantly influence the global fight against climate change. Collaborative efforts, technological innovations, and policy interventions will be key in planning a sustainable path forward for India and the planet.
As COP28 is all set to begin, the world watches with anticipation, hoping that the collective efforts and commitments made by nations, including India, will pave the way for a more sustainable and resilient future for generations to come.About the author: Ashwin Bhadri is the CEO of Equinox Labs. All views/opinions expressed in the article are of the author.?