New Delhi: Calling for thoughtful use of fossil fuels and development of sustainable, inclusive low-carbon transport systems, Union minister of environment, forest and climate change Bhupendra Yadav on Wednesday said that the path of sustainability must be chosen for conservation of ecosystem, biodiversity, development of society and for best utilization of human resources.
“To ensure sustainability, a proper technological and management system must be created for the world through policy, technological intervention and capacity building. Countries should develop action plans that prioritize equity, ensuring that health, justice, and prosperity are available to everyone. This approach will promote social equity and facilitate inclusive, sustainable economic growth while safeguarding natural resources for future generations,” he said at the Re-Invest Summit 2024 in Gandhinagar of Gujarat.
Yadav highlighted that India represents 17% of the world’s population but only accounts for 5% of global emissions. In comparison, 17% of the population in developed countries contributes to 60% of emissions.
“India’s per capita consumption remains low, and the energy needs of developing countries must be considered. India has made significant progress in reducing carbon emissions, despite facing challenges such as its diverse geography,” he said.
Private sector engagement will hold the key to achieving net zero emission by 2070 by strengthening renewable grids, developing low carbon technology, and managing demand side issues.
Utilization of fossil fuel
There is a need for rational utilization of fossil fuel resources with due diligence and development of integrated efficient and inclusive low carbon transport systems, and sustainable urbanization, keeping in view inclusive, economic, and ecological aspects, Yadav said.
Under its Mission LiFE, the ministry has identified the following priorities in the first 100 days of the government–Save Water, Save Energy, Reduce Waste, Reduce E-Waste, Say No to Single-Use Plastics, Adopt Sustainable Food Systems, and Adopt Healthy Lifestyles.
The government has initiated more bio-based policy interventions and is also working on fuel switching, recycling, circular economy, and promotion of green hydrogen technology, along with empowering the MSME sector.
Empowering the global south
India is working on international cooperation to empower the global south and assessment of financial requirements with new quantifiable goals being the focus areas at COP29.
Yadav said that for capacity building, climate finance must be defined accordingly. The ministry of energy has put forth the idea of a carbon market and initiated a Green Climate Fund to build capacity.
He further said that the economic viability of capacity building and technology transfer holds the key to developing renewable energy markets.