Global Warming Challenge

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India faces challenges in balancing emission reduction goals with development imperatives amidst international climate negotiations.

The recent COP29 climate conference did not yield significant progress, while global emissions reduction efforts remain critical. Developed nations aim for net zero emissions by mid-century, with India targeting 2070. Key developments, such as the EU's Carbon Border Adjustment Mechanism (CBAM) and international pressure to achieve "peak emissions," demand urgent action.

India, with per capita emissions a third of the global average, requires more electricity to reduce dependence on fossil fuels. Diversifying energy sources is crucial to meet its developmental goals. Challenges include increased demand for clean electricity for sectors like transport and industry, requiring significant electrification. The NTI Aayog estimates India's energy demand will rise to 6,200 TWh by 2040, a substantial increase over current consumption.

The choice between renewable energy and nuclear power involves cost and land considerations. India must also address the fiscal burden of energy transition as the CBAM introduces carbon tariffs on exports. Funding mechanisms like green financing and government subsidies will play a critical role in addressing these costs.

India's commitment to climate goals requires long-term investments in clean energy while maintaining economic growth. The transition from fossil fuels to renewable energy must be carefully managed to balance international commitments and domestic priorities.