Current climate policies are a death sentence for the world, that's a warning from UN Secretary General Antonio Guterres.
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According to a new paper by Boston Consulting Group and World Economic Forum, the Asia Pacific region could unlock $4.3 trillion in revenue by 2030 from expansion of renewable power and energy efficiency initiatives and 232 million new jobs.
For World Earth Day, CNBC-TV18 discusses what could be some of the immediate focus areas for the Indian government to mitigate the impact of climate change and also the economic opportunity for the private sector with the energy transition.
Saurabh Kumar, Head-India at Global Energy Alliance for People and Planet (GEAPP), acknowledged the government's policy statement and their ambitious goals towards sustainability. However, he pointed out that more needs to be done, particularly in the rural and semi-urban areas, which require energy but should shift towards renewables instead of fossil fuels.
He said, "What needs to be done is basically look at those sectors which will see a lot of the requirements for energy and these are a semi-urban, rural areas, how can we shift the action there are to renewables rather than on fossil fuels.”
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GEAPP's efforts are currently focused on adopting energy efficiency and decarbonization in rural sustainable development. This is a crucial step towards achieving the goal of a sustainable future.
Kumar also highlighted the need for immediate attention to the transport sector, with electrification of railways already on track for decarbonization by 2030.
“So a large part of our effort to support the government will be on basically adopting energy efficiency and also, decarbonisation of the rural sustainable development and that's where our current focus is.”
However, he emphasised the urgency to switch to e-buses, two-wheelers, and three-wheelers and charging them using renewable energy.
“The second area that needs immediate attention in terms of climate action is transport. Electrification of transport by railways is on track for decarbonisation, by 2030. I think the public transit area, getting to e-buses, two-wheelers, and three-wheelers and also good importantly, charging these vehicles using renewable energy are immediate steps that need to be taken.”
For full interview, watch accompanying video
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