A fact that cannot be disregarded is that neither India nor the EU is as yet ready to endorse the Paris deal, though their support for it remains unflinching. The EU is sharply divided with some member countries wanting it to be preceded by necessary spadework to minimise its fallout on their domestic economy and job creation. For India, the task on hand is even tougher. That's because, unlike the EU, which has the technology and the resources to take decisive climate action, India is short on both counts. To achieve the target of slashing the emissions intensity of the economy by 33 to 35 per cent by 2030 (from the 2005 level), the country may need an estimated investment of $2.5 trillion. Worse still, India will have to cut down on fossil fuel consumption and introduce major technological changes in its manufacturing sector. This aside, India will also need to upgrade the technology used in its thermal power sector and by improving the quality of coal and the technology to trap and neutralise emissions from coal-run plants.
India has already put in place an impressive domestic action plan for climate-resilient development. Raising non-fossil fuel-based content of its overall energy consumption to 40 per cent by 2030 is part of this plan. With steady progress on the solar and wind energy fronts and the proposal to declare hydel power as renewable energy - which, for some inexplicable reasons, is not counted as clean power - meeting the overall green energy goals specified in the Paris deal do not seem beyond reach. However, the needed revamp of the coal-based power sector and the manufacturing industry may not be as easy - at least not without adequate external assistance, both in terms of technology and finance, neither of which is readily accessible. Developed countries seem reluctant to transfer, or even sell, the green manufacturing technologies to other countries. They are also reneging on their commitment to contribute liberally to the global green fund, mooted specifically to assist developing nations in clean economic development. Unless these prerequisites are taken care of through collective global effort, it is futile to expect the Paris accord to meet its noble objective of capping temperature rise to well below 2° Celsius, even if the requisite number of countries ratify it.
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