Monday, April 26, 2021

The U.S.-India climate pact has the potential to aid sustainable post-pandemic development

The U.S.-India Climate and Clean Energy Agenda 2030 Partnership raises expectations that the coming decade will see sustained financial and technological cooperation between the two countries to cut greenhouse gas emissions. At the Leaders Summit on Climate organised by U.S. President Joe Biden, the world’s attention was focused on countries responsible for the highest carbon emissions. India ranks third, behind the U.S. and China, although its per capita CO2 emissions are less than 60% of the global average, as Prime Minister Narendra Modi pointed out. There is little confidence in a pandemic-stricken world, however, that future growth pathways will be aligned away from fossil fuels. The International Energy Agency, in fact, expects a dramatic rise in emissions as countries race to shake off the impact of the coronavirus, as they did after the 2008 financial crisis. Yet, the years to 2030, as President Biden put it, are part of a “decisive decade”, and action to scale up funding and innovation can help all countries move closer to keeping global warming well below 2°C or even 1.5°C, as the Paris Agreement envisages. There are many aspects to the bilateral pact that could be transformative for energy-intensive sectors in India, starting with renewable power expansion to 450 GW. With open source technologies, India could incorporate innovative materials and processes to decarbonise industry, transport and buildings, the biggest emitters, apart from power.

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