“Carbon neutrality in India by 2070.”
This announcement by Indian Prime Minister, Narendra Modi, at the Glasgow Summit (COP26) marked a significant turn in India’s environmental policy.
India has previously been reticent in declaring its environmental goals on a global stage. But this ambitious pledge has ignited conversations, speculations, and analyses regarding its feasibility.
Most importantly, it highlights the urgent need to delve into the concept of Carbon Neutrality and its crucial role in maintaining ecological balance.
India’s 2070 Goal: Embracing A Greener Future
For years, the Indian Government has balanced its stance between advocating for global action as per the Paris Agreement and questioning the feasibility of carbon neutrality.
But things changed at the Glasgow Summit (COP26), where Prime Minister Modi unveiled India’s five-point climate action plan. This signalled a renewed commitment to sustainable energy and climate responsibility.
Despite contributing to only 5% of global greenhouse gas (GHG) emissions, India stands as the third-largest emitter in absolute terms.
This reality underscores the urgency for substantial policy-making and pragmatic implementation of climate action strategies.
The Road to Net Zero by 2070
The 2070 net-zero target is a pragmatic response to India’s current climate action readiness and its ongoing renewable energy advancements.
India After Glasgow: What Is The Current Scenario?
Understanding Carbon Neutrality
Carbon Neutrality is a crucial concept in our battle against climate change. It represents a balanced equation between the carbon dioxide emissions we generate and their removal from the atmosphere.
For every ton of CO2 we emit, there’s a corresponding ton that must either be eliminated or offset. But why is this important?
This balance is vital in addressing Global Warming and returning global temperatures to pre-industrial levels.
The core of carbon neutrality lies in managing Greenhouse Gas (GHG) emissions, particularly carbon dioxide.
It’s an acknowledgement that while some emissions are unavoidable, they must be counterbalanced by removing or reducing an equivalent amount elsewhere. This approach is essential in mitigating the long-term impacts of climate change.
Suggested Read: The Business Benefits of Carbon Neutral Certification
Corporate Action Towards Carbon Neutrality
In the march towards India’s 2070 climate objectives, corporations are front-line warriors. The onus on sustainability leaders is immense, as they weave environmental responsibility into their companies’ DNA. These strategies must now go beyond compliance, embedding sustainability into every business facet.
Tailored Industry Approaches
Diverse industries have distinct challenges on the road to carbon neutrality. Manufacturing entities grapple with direct emissions, while service sectors wrestle with indirect ones. Industries are adopting carbon accounting software to manage emissions effectively, enabling precise tracking and strategic decision-making.
Competitive Edge Through Sustainability
Sustainability isn’t just ethical; it’s economically savvy. Firms leading in carbon management gain market differentiation and attract investment, leveraging environmental stewardship into a competitive edge.
Supply Chain Responsibility
Sustainable practices extend to supply chain management, ensuring suppliers meet stringent environmental standards. This isn’t solely about compliance—it’s about ensuring business longevity in an eco-conscious world.
By embracing these strategies, businesses not only support India’s climate pledge but also contribute significantly to the global sustainability narrative, establishing a new benchmark for corporate environmental accountability.
Approaches to Achieving Carbon Neutrality
Carbon Neutrality can be achieved through various strategies, each contributing to the overall goal of a sustainable, environmentally friendly future.
Carbon Sequestration
This involves capturing and storing atmospheric carbon dioxide in natural or artificial carbon pools. Through processes like afforestation or technological solutions, such as carbon capture and storage (CCS), carbon sequestration plays a critical role in reducing the excess carbon in our atmosphere.
Carbon Offsetting
Carbon offsetting is a method to compensate for emissions by reducing them elsewhere. This can be achieved through investing in renewable energy projects, energy efficiency measures, or other activities that reduce carbon emissions.
It’s a way for companies and individuals to become responsible for their carbon footprint.
Carbon Sink
A carbon sink is any system that absorbs more carbon than it emits.
Forests, oceans, and soil are natural carbon sinks, acting as reservoirs that store carbon compounds for an indefinite period. These sinks play a significant role in the natural carbon cycle and are vital in maintaining the carbon balance.
What is a Carbon Management System?
A Carbon Management System is an essential tool for managing and reducing greenhouse gas (GHG) emissions.
Such systems aid in calculating the carbon footprint of an organization or a country, identifying key areas where emissions can be reduced, and developing strategies to achieve these reductions.
How CarbonMinus Help Track and Control Carbon Emissions?
CarbonMinus’s innovative platform crafts a path towards carbon neutrality, making it more accessible and efficient.
It’s focused on revolutionizing sustainability in business, offering a platform that aims to deliver efficiency, ensure compliance, and realize net-zero visions for organizations. The platform and services align with the objectives of carbon accounting by enabling businesses to manage and optimize their resource usage, track and analyze energy consumption, and comply with environmental regulations.
This indirectly supports businesses in their efforts to calculate and reduce their carbon footprint, thus contributing to broader sustainability and carbon neutrality goals.
Thus, CarbonMinus’ core value of Net Zero For Net Gain, aligns perfectly with India’s 2070 goal, providing a practical solution for tracking progress and ensuring compliance with environmental standards.
The Road Ahead: Will Nations Achieve Net Zero?
To realize these ambitious targets, it’s essential for developed countries to step up. Prime Minister Narendra Modi has already asked for an urgent investment of USD 1 trillion as part of climate finance.
Developed nations and developing countries must work in tandem and take collective responsibility. The burden of climate action cannot fall on a select few nations, and there must be an atmosphere of cooperation to achieve carbon neutrality at the local, national, and international levels.
