Is Net Zero Development Possible?

Описание к видео Is Net Zero Development Possible?

Dr Montek Singh Ahluwalia delivered this years’ Adrian Fernando Memorial Lecture on whether net zero development is possible, with a special focus on India.

India has a goal of becoming a developed country by 2047. New technologies have emerged that allow low cost energy generation. India, as other developing countries, needs financial support to adopt them more fully.

Most of the CO2 emissions in India come from electricity generation (70% coal based), so the most important thing would be to decarbonise electrification in India.

It is projected that solar and wind will provide 86% of total electricity by 2070 (and the amount of electricity required is likely to go up around 20 times). In some models, the costs of renewables compare with fossil fuels, but Dr Ahluwalia suggests that with capital costs and balancing intermittency using batteries, it may not be. So, a preference for coal would persist without market intervention.

An alternative market-based solution needs to be created to help India move away from coal. Dr Ahluwalia argues there is a clear case for a carbon tax, though there is no chance of one being introduced in India without it happening in the West first.

As coal is phased out there will be implications for the coal states. Around 1 million coal-related jobs are concentrated in a few states. The revenue from a carbon tax could be used to reimburse these states.

Green hydrogen is the only solution for some hard to abate sectors. There are some related targets in India, though it isn’t part of their NDCs. This relies on growth of renewable electricity to make green hydrogen in the first place.

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