Big Picture 2050: Launching Industry led Near Zero Emissions initiative
Leading market players from Indian industries have voluntarily come together for the first time to pledge for near zero emissions by 2050. The event will be held as part of the Climate Week NYC.
On 24th September 2020, 07:00 PM - 08:00 PM IST
The Paris Agreement calls for ambitious efforts to keep global warming 'well below' 2°C above pre-industrial levels, and to 'make efforts' to keep it below 1.5°C. The Intergovernmental Panel on Climate Change (IPCC) has called for the global emissions to reach net zero around mid-century to give a reasonable chance of limiting warming to 1.5°C. The global energy system is undergoing a transition that is unprecedented in pace and scale. Having been at the forefront of renewable energy growth and electricity sector decarbonisation, India also needs to be a leader in the area of industrial transformation and decarbonisation so as to remain globally competitive. With nearly 40% of global greenhouse gas (GHG) emissions originating from industrial sources, industry is a key stakeholder in the effort to reach the goals of the Paris Agreement.
Leading market players from Indian industries have voluntarily come together for the first time to pledge for near zero emissions by 2050 through their actions and set by example, a decarbonisation pathway. With this initiative they aim to encourage others to adopt similar pathways. In this event they will speak of their initiatives. Some of which include:
- Enhancing energy efficiency
- Increasing the share of renewable energy in their overall energy mix
- Undertaking carbon sequestration efforts
- Maximising energy efficiency and adoption of renewable energy technologies across supply chain
- Adopting best practices of resource efficiency and circular economy
The meeting will delve on the questions (i) What should industrial decarbonisation pathway look like? (ii) What are the key challenges for industries to transition to such a pathway? (iii) What are some best practices and how can these be further encouraged?