The Paris Agreement, signed in 2015 by 195 countries, aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels. To achieve this, countries commit to reducing their greenhouse gas emissions through Nationally Determined Contributions (NDCs). India, the world’s third-largest emitter of greenhouse gases, has submitted its NDCs, outlining its climate goals and targets.
India`s NDCs have set a target of reducing the emission intensity of its GDP by 33-35% by 2030 compared to 2005 levels. This means that India aims to reduce the amount of greenhouse gases emitted per unit of Gross Domestic Product. India has also set a target of achieving 40% of its installed power capacity from non-fossil fuel sources by 2030. This target is in line with India`s ambitious renewable energy plans to increase renewable energy capacity to 175 GW by 2022.
India`s NDCs also prioritize sustainable lifestyles and climate-resilient development. The country aims to create an additional carbon sink of 2.5-3 billion tonnes of CO2 equivalent by increasing forest cover and tree cover. The NDCs also recognize the importance of adaptation to the adverse impacts of climate change, with a focus on water conservation, sustainable agriculture, and disaster management.
The Paris Agreement and India`s NDCs present both challenges and opportunities for the Indian economy. India`s ambitions to transition to a low-carbon economy can be seen as an opportunity to create new jobs in the renewable energy sector and boost economic growth. However, the transition to a low-carbon economy also requires significant investments in renewable energy infrastructure and technology, and this will require funding from both public and private sources.
The Paris Agreement and India`s NDCs have put India on a path to transition to a low-carbon economy. The implementation of these climate goals and targets will be crucial for India’s sustainable development. The world is watching India’s progress, and the country’s success in achieving these goals will have global implications for climate action.