New Delhi. Energy lies at the heart of India’s development aspirations, from ensuring a better life for its 1.4 billion people to realising a USD 5 trillion climate economy. At the same time India confronts an energy trilemma: Balancing energy security, energy equity, and environmental sustainability while pursuing decarbonisation. To successfully navigate this trilemma, concerted efforts and partnerships are essential among the government, businesses, and civil society. Decisions made in this decisive decade will determine India’s ability to decarbonise while ensuring continued economic growth and development.
The report launched on August 1 by The Energy and Resources Institute (TERI) and Shell, INDIA TRANSFORMING TO A NET-ZERO EMISSIONS ENERGY SYSTEM outlines what India needs to do this decade (from now until 2030) to help meet its net-zero emissions target while also delivering energy security and energy equity.
Speaking at the launch, Nitin Prasad, Chairman, Shell Group of Companies in India, said, “Shell has been a thought leader in India’s energy transition journey jointly with TERI for over a decade. Building on this collaboration, the report explores pathways for India until 2030 to achieve its commitments, emphasising the pivotal role of renewable energy, energy efficiency, and electrification in its decarbonisation efforts.”
Highlighting the need for conducive regulatory framework that will help India decarbonise, Dr Vibha Dhawan, Director General, TERI, said, “India possesses a remarkable prospect to establish itself as a prominent global front-runner in low-carbon technologies and solutions. To seize this opportunity, India must give paramount importance to establishing a conductive regulatory framework that promotes growth and encourages innovation. In addition, businesses and companies must play an active role in supporting India’s ambition of achieving net-zero emissions. Significant contributions can be made by investing in renewable energy, hydrogen, and bioenergy sectors. By capitalising on this potential, India can propel itself towards a future driven by low carbon and energy efficient technology, surpassing the greenhouse gas-intensive paths pursued by advanced economies at present.”