(MENAFN- KNN India)
New Delhi, Nov 8 (KNN)
India's climate policies are exceeding expectations, with projected carbon dioxide emissions reductions of approximately four billion tonnes between 2020 and 2030, significantly surpassing the nation's COP26 commitment of one billion tonnes, according to a new report by the Council on Energy, Environment and Water (CEEW).
The Delhi-based think tank's study reveals that existing policies have already yielded substantial results, with emissions reduced by 440 million tonnes of carbon dioxide between 2015 and 2020.
The power sector is expected to see a notable 24-percent decline in coal-based electricity generation by 2030 compared to a scenario without current policies, effectively avoiding the installation of 80 GW of new coal-based power plants.
The transformation of India's energy landscape is particularly evident in its renewable energy sector. The combined share of solar and wind power is projected to expand dramatically from 3 percent in 2015 to 26 percent by 2030, and further to 43 percent by 2050.
This shift is crucial for the world's fifth-largest economy, which currently relies on coal for approximately 71 percent of its electricity generation.
In the transportation sector, the FAME schemes have catalysed significant growth in electric vehicle adoption. Projections indicate that by 2030, electric vehicles could comprise 19 percent of two-wheeler sales and 11 percent of four-wheeler sales, potentially reducing oil and gas demand by 13 percent.
These figures are expected to exceed 65 percent for both categories by 2050, resulting in a 55-percent reduction in the sector's fossil fuel consumption.
The residential sector has also shown promising developments through initiatives like the Standards and Labelling programme and the UJALA programme.
While air conditioning-related electricity consumption is projected to increase tenfold by 2050 due to climate change and rising incomes, the UJALA programme's distribution of over 3.67 billion LED bulbs since 2015 is expected to reduce residential lighting electricity consumption by 48 percent by 2030.
CEEW CEO Arunabha Ghosh emphasises that while India has demonstrated significant climate leadership, continued bold action and international financial support will be crucial for achieving the country's 2070 net-zero target.
The study's lead author, Vaibhav Chaturvedi, suggests focusing on scaling up renewable energy investments, enhancing the domestic Carbon Credit Trading Scheme, and improving energy efficiency across key sectors to maintain this momentum.
(KNN Bureau)
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