From November 30 to December 12, COP28 is being held under the presidency of the UAE. COP28 is considered a crucial program to mitigate the worst effects of climate change. On December 2, during the COP28 Climate Summit, 118 countries signed a commitment to triple renewable energy capacity by 2030. However, India is not among those countries. China, with the world’s largest installed renewable energy capacity, is the second notable absentee.
Let’s understand why India is not interested in joining this commitment. Let’s get started.
What’s Happening?
Some significant announcements were made during COP28. The primary objective of this summit is to reach agreements that will help limit greenhouse gas emissions. However, according to The Hindu, India did not sign the Global Renewable and Energy Efficiency Pledge. This pledge aims to triple global renewable energy capacity by 2030 and double the global average annual rate of energy efficiency. Why was such a decision made given India’s continuous efforts in renewable energy and climate change?
Why Didn’t India Sign the Pledge?
According to the Economic Times, India’s focus on coal and investment in it could be a crucial reason for this decision. It might also be because India is in a strategic position and wants to avoid supporting an initiative that could weaken negotiations under the UN Climate Framework.
Some experts suggest that the language concerning coal in this commitment creates issues for India. The commitment includes reducing the use of fossil fuels and increasing the use of clean energy. It also talks about phasing out financing for coal-fired power plants.
With India’s heavy dependence on domestic financing for its energy transition and an 8% growth in energy demand, completely committing to moving away from coal poses a significant challenge. These are some major reasons why India did not sign the commitment.
Goal to Triple Nuclear Energy Capacity by 2050
Besides reducing greenhouse gas emissions, more than 20 countries have signed a commitment to triple nuclear energy capacity by 2050. According to a report by Dainik Jagran, the current global nuclear energy capacity is 370 gigawatts, with 31 countries operating reactors. Achieving this capacity threefold by 2050 will require new approvals and economic investments. However, according to Business Standard, India is not eager to be part of this announcement either.
What’s Next?
Developed and emerging countries have different priorities when it comes to reducing carbon emissions. However, according to Business Standard, India should willingly accept nuclear energy because of its leadership in climate change. Whether India will sign such commitments or not, its leadership in climate change should encourage a more open-minded acceptance of nuclear energy.
That’s it for today. We hope you’ve found this article informative. Remember to spread the word among your friends. Until we meet again, stay curious!
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