World Economic Forum Launches Net Zero India

Net Zero India UPSC: Relevance

• GS 3: Conservation, environmental pollution and degradation, environmental impact assessment.

विश्व आर्थिक मंच ने नेट जीरो इंडिया का शुभारंभ किया

Net Zero India: Context

• World Economic Forum (WEF) has launched the India chapter of the Alliance of CEO climate action leaders to stimulate India’s climate action and decarbonisation efforts.

Net Zero India: Key points

• It is part of the WEF’s Climate Action Platform and will build upon learnings from global projects such as the Alliance of CEO Climate Leaders and the First Movers Coalition.
• The alliance will serve as a high-level platform to support business leaders in planning and implementing programmes to achieve climate targets, including net-zero economic growth.
• It will bring together the government, businesses and other key stakeholders to achieve the ambitious “Panchamrit” pledge, which includes the country’s target to become net-zero by 2070.
• As a major global economy, India’s role in mitigating climate change is critical, and India Inc must add its full weight to the country’s efforts against global warming.
• The alliance is an integral part of the comprehensive nature and climate action agenda in India, which includes
  • collaborative initiatives such as trillion trees,
  • moving India for rapid electric vehicle deployment,
  • clean energy financing,
  • Food Innovation Hubs,
  • Stakeholder Capitalism Metrics and Clean Skies for Tomorrow.

Net Zero India WEF: Why needed?

• The signs of climate change with varying temperature and weather patterns impacting human lives are clearly visible to all of us. Hence, the global initiative and commitment towards climate change, is indeed a positive sign of hope.
• It is possible for us to achieve the 1.5-degree Celsius target from the Paris agreement if adequate steps are taken. Example: A number of initiatives have baeen launched— greening ourselves, decarbonising our industry and rejuvenating our planet —to make India carbon neutral by 2040.
• A just transition could generate annual business opportunities worth over $10 trillion and create 395 million jobs worldwide by 2030. India alone could create more than 50 million net new jobs and generate over $15 trillion in economic value.

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