India is making significant progress in tackling climate change, according to the Economic Survey presented in Parliament. The country has already created a substantial carbon sink, absorbing 1.97 billion tonnes of carbon dioxide between 2005 and 2019. This natural storage for greenhouse gases will be further bolstered by increasing tree cover, with a target of 2.5 to 3 billion tonnes by 2030.
Forests and other natural resources like soil and oceans act as carbon sinks, helping mitigate climate change. The Economic Survey highlights India’s success in reducing its reliance on fossil fuels. Initiatives like the Perform, Achieve and Trade (PAT) scheme drive energy efficiency in key industries. This has led to significant energy savings and reduced greenhouse gas emissions.
India has surpassed most of its initial climate targets under the Paris Agreement. The country has achieved a 40% share of non-fossil fuel sources in its electricity generation capacity ahead of schedule. It has also reduced the emission intensity of its economic output by 33% between 2005 and 2019, exceeding its target year of 2030.
These achievements are even more impressive, considering India’s rapid economic growth. The country’s GDP grew at a healthy 7% rate between 2005 and 2019, while emissions increased at a slower pace of 4%. These figures indicate a successful decoupling of economic growth from greenhouse gas emissions, the survey said.
India’s efforts have been recognized internationally. A recent report by the International Finance Corporation highlights India as the only G20 nation on track to meet the 2-degree Celsius warming target set by the Paris Agreement. These accomplishments have been mainly achieved through domestic resources, it said.
The Economic Survey also acknowledges the need to address energy transition and mobility issues. Finding alternative sources of energy that don’t rely on countries with strained relations and exploring sustainable transportation solutions like public transport are crucial areas for further focus.
Rich Nations Push Carbon Tax While Their Energy Demand Increases on AI Boom, Says the Survey
The Economic Survey slammed developed countries for pushing a carbon tax on imports from developing nations while their energy use skyrockets due to their “obsession” with Artificial Intelligence (AI).
The Survey, tabled in Parliament on Monday, argues that this contradicts the principle of “common but differentiated responsibilities” enshrined in the Paris Agreement, which acknowledges the differing historical contributions to climate change by developed and developing countries.
“Developed nations are essentially asking developing countries to prioritize emissions reduction over economic growth, while their own AI race is causing energy demand to surge,” the Survey said. It cited the example of a tech conglomerate aiming for net-zero emissions by 2030, whose carbon footprint has grown by 30% by 2023 due to its focus on AI.
This increasing energy demand from AI is a global trend. A Goldman Sachs report predicts a surge in US power demand fueled by AI, potentially straining clean energy infrastructure.
The Survey argues that developed nations, after achieving prosperity through fossil fuels, now want developing countries to adopt completely different, untested strategies. This hypocrisy, it says, risks exacerbating poverty and inequality in developing nations.
The Survey also criticizes the recent G7 meeting, where some members, such as Japan and Germany, resisted proposals to phase out coal power by 2030.
“This approach is a recipe for conflict,” the Survey warns. It urges developed nations to take responsibility for their emissions and find ways to support developing countries in a sustainable transition to clean energy.
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