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In News
- G7 countries concluded two days of meetings on climate, energy and environmental policy in the northern Japanese city of Sapporo.
- Renewable fuel sources and energy security have taken on a new urgency following Russia’s invasion of Ukraine.
Key Highlights of the Meeting
- Carbon-free electricity production by 2035:
- The Group of Seven (G7) countries are committed to working towards ensuring carbon-free electricity production by 2035 and “accelerating” the phase-out of coal.
- Impetus to Solar Power:
- They agreed to accelerate solar and wind energy investments to produce 1,000 gigawatts (GW) by 2030 from solar power and 150 GW of wind power from off-shore platforms.
- Removal of Fossil Fuel Subsidies:
- They reaffirm the commitment to the elimination of inefficient fossil fuel subsidies by 2025.
- Net zero in energy systems by 2050:
- The members agreed to accelerate “the phase-out of unabated fossil fuels” – the burning of fossil fuels without using technology to capture the resulting C02 emissions – to achieve net zero in energy systems by 2050
Other Key Facts relating to Carbon Emission
- Temperatures have already risen by 1.1C since the pre-industrial era.
- The G-7 nations account for 40% of the world’s economic activity and a quarter of global carbon emissions.
- Emerging markets and developing economies now account for more than two-thirds of global carbon emissions
- Russia is one of the world’s largest suppliers of enriched uranium for civilian nuclear programs, with more than 40 per cent of enrichment capacity globally.
- India and China are significantly dependent on coal for electricity, whereas several developed countries, including the United States, Japan, Canada and Europe are reliant on gas reserves.
Related terms
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Challenges in Phasing out coal in India
At the United Nations-Conference of Parties (COP) meeting in Glasgow in 2021, India had objected to language in the agreement to “phase out” and pushed instead for a “phase down” of coal.
- High Energy dependence: Coal is Primary energy contributor with a 57% share of India’s energy mix and Coal demand is expected to not peak until the early?2030s.
- Very high Economic cost in phasing out, for example Germany coal phaseout needs investment of more than 50 billion euros.
- Resources richness: According to the Geological Survey of India, India has 319.02 billion tones(bt) cumulative coal reserves in India and the economy of states like Jharkhand, Orissa depends on coal mining.
- Negative impact on tax: In FY20, the Centre alone collected approximately Rs 29,200 crore in GST compensation cess from coal.
- Job loss: one study has mentioned direct coal jobs at 7,44,984 excluding contract employees.
- Issue of NPA: Economic shifts and policy changes may turn coal-fired power plants into stranded assets (non-performing assets). This will rapidly decrease their value, or they may turn into liabilities. This process is already observed in some G20 countries.
India’s Efforts
- Revised NDCs:
- India is now committing itself to at least 45% reduction in emissions intensity of GDP by 2030 from 2005 level.
- India is committing to ensure that at least 50% of installed electricity generation capacity in 2030 would be based on non-fossil fuel-based sources
- Increase non-fossil energy capacity to 500 GW (gigawatts) by 2030.
- Reduce the total projected carbon emissions by 1 billion tones (BT) by 2030.
- Achieve net zero carbon by 2070.
- The Pradhan Mantri Ujjwala Yojana: It helped 88 million households to shift from coal-based cooking fuels to LPG connections.
- Hydrogen Energy Mission: Focus on generation of hydrogen from green power resources.
- E-Vehicle: India is accelerating its e-mobility transition with the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME Scheme).
- Vehicle scrapping policy to phase out old and unfit vehicles complements the existing schemes.
- Perform, Achieve and Trade (PAT): It is a market-based mechanism to further accelerate as well as incentivize energy efficiency in the large energy-intensive industries.
- Major Programmes in Renewable Energy Sector
- National Solar Mission (NSM)
- Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM):PM-KUSUM provides farmers with incentives to install solar power pumps and plants in their fields.
- Solar Parks Scheme: To facilitate large scale grid-connected solar power projects.
- Green Energy Corridor (GEC): To facilitate renewable power evacuation and reshaping the grid for future requirements.
- International Solar Alliance (ISA): It has 122 sun-belt countries as its prospective member countries and currently boasts a membership of 86 countries globally.
- It is the largest grouping of states, after the United Nations
- National Action Plan on Climate Change
- National Clean Air Programme (NCAP)
- National Biofuel Policy, etc.
Group of Seven (G7)
Present Members: France, Germany, United Kingdom, Italy, United States of America, Canada and Japan. Genesis:
For further reading on G7, kindly follow this link https://www.nextias.com/current-affairs/03-09-2022/group-of-seven-g7 |
Source: BS
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