NITI Aayog Panel for Net-Zero Goal | 06 Jul 2024

Source: BS

Why in News?

Recently, NITI Aayog has formed dedicated multi-sectoral committees to prepare a policy design and create a roadmap for achieving its goal of becoming a net-zero economy by 2070.

• This has been started 3 years after India declared its goal to become a net-zero economy by 2070.

What are the Key Focus Areas of the Working Groups Formed by the NITI Aayog?

• About:
  • NITI Aayog has formed 6 working groups. These groups will focus on developing policy formats, working models, and transition pathways for core sectors like macroeconomic implications, climate finance, critical minerals, and social aspects of energy transition.
  • It will also form sectoral committees on transport, industry, buildings, power, and agriculture.
• The 6 Net-Zero Working Groups: 
  • Macroeconomic Implications: Examine the implications of net-zero pathways on macroeconomic indicators and suggest aligned monetary and fiscal policies.
  • Climate Finance: Estimate India's climate finance needs for mitigation and adaptation, and identify potential sources of finance.
  • Critical Minerals: Research and development, domestic manufacturing, and supply chain for critical minerals.
  • Social Aspects of Energy Transition: Assess the social impacts of the energy transition and propose mitigating strategies.
  • Policy Synthesis: Collate the reports of the sectoral committees and prepare a consolidated policy handbook.
  • Sectoral Committees: Devise transition pathways for power, industry, buildings, transport, and agriculture sectors.
• Expected Outcomes:
  • The deadline for all the working groups to submit their action plans is October 2024. The NITI Aayog report is expected to become a policy handbook for all central ministries for drafting climate-resilient and adaptive policies to achieve India's net-zero target by 2070.

What is Net-Zero Target?

• Net Zero refers to achieving an overall balance between carbon emissions produced and carbon taken out of the atmosphere.
  • It is referred to as carbon neutrality, which does not mean that a country would bring down its emissions to zero.
  • Further, absorption of the emissions can be increased by creating more carbon sinks such as forests.
    • The removal of gases from the atmosphere requires futuristic technologies such as carbon capture and storage.
• More than 70 countries have promised to become Net Zero by 2050.

What are India’s Initiatives to Achieve Net Zero Target?

• National Action Plan on Climate Change: It aims at creating awareness among the representatives of the public, different agencies of the government, scientists, industry and the communities on the threat posed by climate change and the steps to counter it.
• India has promised to cut its emissions to net zero by 2070 at the Conference of Parties-26 (COP) Glasgow Summit.
• For this India outlined a 5-pronged 'Panchamitra' climate action target:
  • Reach 500 GW Non-fossil energy capacity by 2030.
  • 50% of its energy requirements from renewable energy by 2030.
  • Reduction of total projected carbon emissions by 1 billion tonnes from now to 2030.
  • Reduction of the carbon intensity of the economy by 45% by 2030, over 2005 levels.
  • Achieving the target of net zero emissions by 2070.

What Steps can be Taken by India to Achieve Net-Zero Emission Target?

• Enhancing Carbon Sequestration: India can enhance its carbon sequestration potential by expanding its forest and tree cover, restoring degraded lands, promoting agroforestry, and adopting low-carbon farming practices.
  • Carbon sequestration can not only offset emissions but also provide multiple co-benefits such as biodiversity conservation, soil fertility improvement, water security, livelihood support, and disaster risk reduction.
• Building Climate Resilience: India can build its climate resilience by strengthening its disaster management systems, improving its early warning and forecasting capabilities, investing in climate-proof infrastructure, developing climate-smart agriculture, enhancing health care services, and empowering local communities and institutions.
• Driving India's Green Transportation Revolution: There is a need to promote electric vehicles (EVs) by establishing a robust charging infrastructure network and offering incentives for EV adoption.
  • Introducing innovative public transportation solutions such as electric buses, shared mobility services, and smart traffic management systems can reduce congestion and emissions.
• Climate Smart Agriculture: There is a need to encourage sustainable farming practices by promoting organic farming, agroforestry, and precision agriculture.
  • Integrating technology-driven solutions such as remote sensing, IoT devices, and AI-based analytics can optimise resource utilisation, reduce water consumption, and enhance crop productivity.
• International Collaboration: India can leverage international collaboration by acquiring advanced clean technologies through technology transfer agreements with developed countries, securing international climate finance and sharing best practices with other developing countries.