Transitioning towards the Green Economy: What’s in for India?

Introduction 

The future of Planet Earth looks gloomy, with alarming signs of climate change and news of catastrophes coming in from different parts of the world. It calls for urgent attention and requires intervention in treating Mother Earth. Humanity can't move back to the Stone Age; we need to find alternatives to the existing economic models for its sustainability and survival. India may devise a solution with its technological advancements in producing green energy. India has an important role to play in the future of renewable, clean, and green energy. Its unique landscape advantages its ambition to disrupt the globe with its sustainable policies; the green economy is the future. We have been able to make tremendous progress in the last decade under the leadership of PM Modi. But what does 'Green Economy' mean? 

1.1 Aerial view of wildfire in forest. Burning forest and huge clouds of smoke by Antonpetrus

According to the UN Environment Programme, "a green economy is defined as low-carbon, resource-efficient, and socially inclusive." Businesses and governments must work together to fasten the transition to a green economy and achieve sustainable development targets. The green economy can help us employ eco-friendly technologies, promote sustainable production, and enable energy efficiency. The public-private investment in green economic activities will encourage growth in infrastructure and assets, helping to reduce carbon emissions and pollution and preventing the loss of biodiversity and ecosystem services. The current focus of green economy work is divided into three key areas: I. Promotion of the macroeconomic strategy for sustained economic growth in national, subnational, and regional forums. II. The demonstration of green economy methodologies, with a prior emphasis on the availability of green investments, technology, and financing. III. Assistance to nations in terms of macroeconomic policy mainstreaming and development to facilitate the shift to a green economy.

 Energy disruption and innovation 

It is disrupting the global economy, and the Indian government has started taking a significant initiative towards sustainability. India's commitment to disruptive change is evident in its adoption of ambitious targets for renewable energy deployment. Despite being an emerging economy, India has set its sights on achieving net-zero emissions by 2070. This forward-looking vision aligns with global efforts to mitigate climate change and underscores India's role as a proactive player in the transition to a low-carbon future. India has already started designing itself for futuristic energies and aims to become an energy-surplus country.

1.1 Dr. Anil Wali on "Transition to Net Zero from Carbon to Clean," Vigyan Bhawan, New Delhi.

Dr. Anil Wali emphasised the significance of data and digitalisation............

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