The Rapid Decline in Emissions Intensity
India is working to cut down on carbon pollution because it signed the United Nations Framework Convention on Climate Change (UNFCCC). India has promised that its emissions will be 45% lower by 2030 compared to what they were in 2005.
Emissions intensity refers to the amount of greenhouse gas emissions produced per unit of gross domestic product (GDP). The latest assessment shows that India has already achieved a remarkable 33% reduction in emissions intensity between 2005 and 2019. This reduction is significantly higher than expected and positions India as a global leader in emissions reduction.
Driving Forces Behind the Reduction
India has been successful in lowering its carbon emissions thanks to a number of important reasons. The fast growth of green energy sources has been one of the main factors. The country has put a lot of money into solar, wind, and hydropower power, which has made a big difference in the amount of non-fossil fuel energy it uses.
Renewable energy made up 25.3% of India’s overall electricity production in 2019, up from 24.6% just three years before. This move toward clean energy sources has not only cut down on pollution but has also made India’s energy mix more diverse and improved its energy security.
Wealth Aggregation: Simple, Dynamic, and Secure Beyond Compare. Discover the Altoo Wealth Platform!
The growth of forests across the country is another thing that has contributed. As carbon sinks, forests take in carbon dioxide from the air and store it. India has put in a lot of work to increase the amount of forest cover. Their goal is to have one-third of the country covered in forests.
India has 80.73 million hectares of forests and trees, which is 24.56% of its land size. Adding more trees to the forest has not only cut down on pollution but has also helped protect species and fix up habitats.
Implications for the Indian Economy
There are many ways that cutting down on carbon pollution will hurt India’s economy. By separating economic growth from greenhouse gas pollution, India has shown that it can achieve sustainable development without giving up its economic potential.
India is now the first country in the world to do something about climate change. This makes the country look even better as a place to invest in clean energy and goods.
Using clean energy has also created new jobs and boosted the economy. A lot of people around the world are interested in India’s move to a net-zero economy. The World Economic Forum has also stressed how good this change is for the economy.
India’s move to a green economy could make the economy bigger and create more jobs by 2030. Indian growth used to come from farming and services, but this change gives the country a chance to switch its growth to industry.
