From UPSC perspective, the following things are important :
Prelims level : Not much
Mains level : Paper 3- Net-zero emission targets and G-7
The article highlights G-7 countries’ emphasis on adoption of net-zero emission target and its implications for India.
Shifting responsibility to developing countries
- The Cornwall G7 summit sought to re-establish a common purpose among the richest democracies of the world.
- The G7 agreed “collectively” to net-zero GHG emissions by 2050 and called on “all countries, in particular, major emitting economies” to join as part of global efforts.
- And, ODA (official development assistance) has been made contingent on net-zero emissions by 2050 and deep cuts in emissions in the 2020s.
- G7 made an equal effort to shift the responsibility to the large developing countries.
- However, “common and differentiated responsibilities” is the agreed guiding principle for tackling climate change.
- Differentiation underscores the responsibility of the industrialised countries to lead.
India’s climate actions
- India has been a leading stakeholder in climate action and is among the few in the G20 in line to meet their commitments under the Paris Accord.
- It has also taken on a most ambitious target of 450 GW of renewable power by 2030.
- India has shown the world the way forward on solar power with producers now offering ultra-competitive tariffs.
- Coal was particularly in the eye of the G7 which stressed “that international investments in unabated coal must stop now” .
- India, that continues to rely on coal, could face a crunch in assistance in thermal power.
- BASIC, comprising India, China, Brazil and South Africa, has so far led the efforts of large developing countries in climate negotiations.
- But with possible differences of opinion on net zero, BASIC’s clout in future global negotiations is questionable.
- Finance and technology are the key areas where the industrialised West can and must lead.
- The collective developed countries’ commitment of $ 100 billion per year was made in Copenhagen in 2009 and is nowhere near being reached.
- A smallish sum of $2 billion was committed by G7 to accelerating the transition from coal.
- For India, with its huge developmental needs and global high-table aspirations that require carbon and policy spaces, the imperative is strong diplomatic partnerships with large developing economies that have an inherent interest in GREEN-Growth with Renewable Energy, Entrepreneurship and Nature.
India, which has huge developmental needs and global high-table aspirations that require carbon and policy spaces, must protect its interests.