India, the world’s third largest polluter, has called for a just and inclusive energy transition while standing against proposed deadlines to phase out coal by emerging economies.
A three-day session of the Energy Transitions Working Group (ETWG) under India’s G20 presidency brought experts from the UN, International Energy Agency and World Bank to Mumbai.
'Just' roadmap
Delhi said the event aimed to promote best practices ... that can support a just and inclusive energy transition and the goal were to develop a collective roadmap for achieving sustainable and equitable growth.
2nd day: 3rd Energy Transitions Working Group Meeting (#ETWG) held in Mumbai. #G20 member countries deliberated on six priority areas including Energy transition through addressing technology gaps, Low-cost financing for energy transition, Energy security and diversified supply… pic.twitter.com/HerDM2wW29
— DD News (@DDNewslive) May 16, 2023
It was the third annual chapter of ETWG talks, which has brought India, China and South Africa up against attempts to set out draconian deadlines by richer nations to cut carbon emissions.
Britain and Canada of the smaller G7 group of industrialised nations have proposed to phase out coal-fired power stations by 2030.
India & EU must continue to jointly identify areas of cooperation in #Tech space and work towards achieving #sustainability by harmonising Indian Standards with European standards
— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) May 16, 2023
My address at the working group on Clean and Green Energy Technology @PiyushGoyal@DrSJaishankar… pic.twitter.com/KafUl7ng24
Last year, the G20 in a declaration in Bali urged members to explore options for generating clean power while accelerating efforts for a coal phase down.
“India's G20 presidency is committed to build upon the efforts and outcomes of previous presidencies underlining the continuity and collective pursuit of global cooperation in clean energy transition,” India’s power ministry said.
Capital cost
India’s offer to cut carbon emissions to zero by 2070 and meet its electricity needs from renewable energy by 2030 has earned applause but experts warn “barriers” must go to rake in 14.7 trillion euros for the clean energy saga.
“It is not all that simple,” renewable energy expert Binit Das told RFI.
“Since it is a costly technology, developing countries like India would need a huge chunk of investment to convert the entire power generation echo-system if we shift towards the green sources of generation,” said Das from the Centre for Science and Environment think tank.
Harsha Bangari, managing director of Axis Bank, hoped India will unveil a robust roadmap of technology transfers that will help locate the precious funds.
“In emerging markets the cost of funding renewable projects is almost seven times the cost of capital in developed countries and that is the gap we are looking at filling in,” Bangari said in the conclave sidelines.
The Asian Development Bank called for ways to tackle ageing power plants such as in India which accounts for about 523 million tons Co2 emissions.
“We have a problem with our existing fossil assets, these are long lived and a lot of them operate in power purchase agreements,” added ADB’s clean energy advisor Pradesp Tharakan.
“So, can we now find ways to re-finance such assets and accelerate the closure of these power plants,” Tharakan said.
Coal-less
India, which is the world's second largest producer and consumer of coal after China, has mined 778 million tons since the 18th century to keep its economy afloat at six percent in the 21st century.
India’s pollution is due to its excessive reliance on coal and oil, which account for more than 80% of primary energy.
— S.L. Kanthan (@Kanthan2030) November 8, 2022
If the GDP grows without a tremendous increase in green energy, it will be suicidal. pic.twitter.com/qR2kMNGUh2
Pramod Agarwal, chairman of state-run Coal India Ltd, said the country was on a shoestring in terms of energy consumption.
"If someone talks about decreasing consumption in the country, perhaps it will be difficult as half the country is living at the level where the reduction of energy is impossible, Agarwal said.
In Bihar [state] we are consuming just 330 units per annum, per capita which is sufficient to light just one lamp in a day and so when we are talking about a 'just transition' the 'just' word becomes equally important.
"In the Indian context, what will happen if coal production is stopped or the thermal power stations are closed," he told the international gathering.
"We have to plan right now what we will do in the future."
