India’s decision to review its nationally determined contributions under the Paris Agreement indicates that clean energy and economic growth can go hand in hand, UN climate official Simon Steele said on Thursday. Nationally Determined Contributions (NDC) are the pledge each country makes under the agreement to limit greenhouse gas emissions.
India on Wednesday agreed to enhanced climate targets for 2031-35 under the agreement, increasing commitments on emissions, clean energy and forests.
Steele said the move from one of the world’s largest and fastest-growing economies could not be more important, at a time when the costs of dependence on volatile fossil fuels have become painfully clear, undermining national security and sovereignty around the world, driving up prices, and leaving people without food and fuel. “By contrast, renewable energy is not at the mercy of narrow shipping straits or huge maritime escorts,” he added.
Steele said India shows that clean energy and economic growth can go hand in hand. “The country is transforming into a solar superpower and positioning itself as a global leader in renewable energy manufacturing. This new climate plan will deepen India’s economic advantage by targeting a growing share of non-fossil energy,” Steele said in a statement.
Steele said the signals implied by India’s move will support a new wave of investment in energy and electric mobility, support domestic manufacturing and create millions of high-quality jobs. “The sooner India achieves and exceeds its goals, the more jobs, prosperity and national economic strength it will bring, and the more India will contribute to shaping the global clean energy economy.”
The new targets represent a step forward compared to the targets set by India for the 2030 period, which were announced in August 2022. India aims to reduce the emissions intensity of its gross domestic product, that is, the amount of greenhouse gases produced per unit of economic output, by 47% by 2035 compared to 2005 levels, up from the previous target of 45% by 2030.
India has committed to drawing 60% of its cumulative electricity capacity from non-fossil sources by 2035, versus the previous target of 50% by 2030. It has also raised its carbon sink target, i.e. absorbing carbon dioxide through forests and tree cover, to 3.5 to 4 billion tons of CO2 equivalent by 2035, from 2.5 to 3 billion tons by 2030.
