The outcome of COP29 in Azerbaijan has been disappointing, with international climate negotiations remaining stalled. While nature continues to warm the planet, the fight against global warming requires immediate action to reduce emissions.

Global Emission Reduction Targets and Peaking

• Commitments by Developed Nations: Developed countries aim for net zero emissions by 2050.
• Commitments by China and India: China has committed to 2060, and India to 2070 for transitioning to net zero emissions.
• Developments Shortening the Timeline: However, two developments are shortening the transition timeline namely the EU’s Carbon Border Adjustment Mechanism (CBAM) and pressure to accept emission ‘peaking.’
• Pressure for Emission Peaking: The G-7 Summit in Hiroshima and Apulia in 2024 urged major economies, including China and India, to accept emission peaking by 2025, with the EU and U.S. already committed.

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Challenges for India’s Energy Transition

• Development vs. Emission Targets: India faces the dual challenge of meeting its growing energy demand while reducing emissions. 
  • India’s electricity consumption is a third of the global average, and unlike developed countries, it needs to diversify its energy sources while growing its economy.
• Transition Time and Technological Constraints: The shorter timeline for emission peaking means India must rely on existing technologies. 
  • Emerging technologies like small modular reactors and hydrogen may take over a decade to become commercially viable.
• Need for Rapid Electric Generation: To sustain future growth, India must ramp up electricity generation quickly, before emissions are capped. 
  • Countries like China have already sanctioned 200 GW of new coal power plants, which India must match to secure sufficient energy.

Nuclear Energy and Challenges

• Comparison of Energy Sources: Renewable energy and nuclear power are both emission-free options, but nuclear power may be the more cost-effective and space-efficient solution.
  • Cost: The cost of renewable energy (₹4.95 to ₹7.5 per unit) is higher than nuclear power (₹3.80 per unit).
  • Land: Renewable energy requires more land (412,033 sq.km) compared to nuclear (183,565 sq.km).
• Tech Giants Opting Nuclear Energy: That is why Microsoft and other tech giants are turning to nuclear power, which is the only source of clean, firm power at scale.
• Financial Challenges in the Energy Transition: At COP29, developed countries committed $300 billion annually by 2035, far short of the $1.3 trillion requested by developing countries. Much of this funding will be non-concessional loans, which many developing countries cannot afford.

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Conclusion

India must accelerate its energy transition to secure its future growth while balancing the need for emission reductions. As global pressure mounts, the country must act decisively to claim its share of the remaining carbon space.

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