Carbon neutrality is the balance between carbon emission from various sources and carbon absorption by carbon sinks. As per the World Economic Forum’s Global Risks Report 2022, densely populated countries that are highly dependent on agriculture, such as India, are especially vulnerable to climate insecurity. Decarbonization in cities is a real opportunity to keep global warming well below 2°C and cities in India can make an enormous contribution in reaching this goal.
Strategy
Panchamrita
To achieve the objective of carbon neutrality Indian Prime Minister declared a five-fold strategy at the 26th Conference of Parties (COP26) — termed as the Panchamrita. The components of the strategy include:
Transition towards Clean Energy
Efforts of Indian Railways
Indian Railways has set a target of Net Zero Carbon Emission by 2030, primarily through sourcing its energy requirements through renewable energy sources. Major initiatives undertaken for reduction of carbon emissions include:
Greener Transportation
To give an impetus to manufacturing and adoption of Electric Vehicles and High-Technology Automotive, Ministry of Heavy Industries is executing the following major schemes with a total outlay of Rs 54,038 crore:
Sustainable Cities India Program
The World Economic Forum and the National Institute of Urban Affairs (NIUA) signed a MoU to collaborate on a jointly designed ‘Sustainable Cities India Program’ which will aim to create an enabling environment for cities to generate decarbonization solutions across the energy, transport, and the built environment sectors.
Challenges
As the world’s third-largest emitter, accounting for 7.1 percent of global GHG emissions, India has its own set of challenges:
Possibilities and Prospects