- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Banking & Finance
- Energy & Infra
- Case Study
- Web Exclusive
- Property Review
- Digital India
- Work Life Balance
- Test category by sumit
Gap Between Resource Availability, Requirement Pose Challenge In NDC Implementation: Eco Survey
The implementation of which began on January 1, 2020, India has sought to reduce the emissions intensity of GDP by 33-35 per cent below 2005 levels by 2030.
Photo Credit :
A huge gap between resource availability and the requirement poses a major challenge in timely implementation of India's Nationally Determined Contribution (NDC) goals, according to the Economic Survey 2020-21.
The emission intensity is the aggregate green house gas (GHG) emissions in carbon dioxide-equivalent (CO2eq) divided by the country's gross domestic product (GDP).
According to the Survey, in NDC, the implementation of which began on January 1, 2020, India has sought to reduce the emissions intensity of GDP by 33-35 per cent below 2005 levels by 2030.
In the NDC, the country has also sought to achieve 40 per cent of cumulative electric power installed capacity from non-fossil fuel sources by 2030. Besides, it also aims to enhance forest and tree cover to create additional carbon sink equivalent to 2.5-3 billion tonnes of carbon dioxide by 2030.
According to the Survey, preliminary estimates provided by NDC indicate that India's climate change actions till 2030 will require financial resource of USD 2.5 trillion (at 2014-15 prices).
'The implementation of NDC has started from January 1, 2021. India's NDC clearly states that finance is a critical enabler of climate change action.
'There is a huge gap between resource availability and the requirements, implementation of wide-ranging NDC goals presents a major challenge,' the Survey 2020-21 said.
India has pro-actively pursued actions on climate change and achieved a reduction in emission intensity of GDP by 21 per cent over the period 2005-14, as per India's second Biennial Update Report (BUR).
However, to fully implement our NDC in a timely manner, the country requires enhanced new and additional financial resources, technological support and capacity building.
New and additional financial resources and technological support to the developing countries was committed to by the developed countries under the Paris Agreement and this needs to be implemented.
It is it important to have a clearer assessment of the financial requirement for implementing India's NDC so that allocation of resources may be appropriate and efficient considering India's commitments and the fact that resources have competing uses.
Hence, a careful estimation of the cost requirements for implementing the NDC and the possible sources for meeting these requirements is an essential pre-requisite.
The Survey said climate change impacts are expected to worsen with the passage of time because of the momentum due to carbon stock continuing to increase the temperature.
Hence, India's adaptation actions in key areas like agriculture, forestry, fisheries, infrastructure, water resources and ecosystems will have to be further intensified.
The Survey further said India's proactive climate actions mainly rely on the domestic budgetary resources. Climate finance is critical to fulfil the execution of NDC targets submitted by India in a timely manner.
Climate finance is an obligation of the developed countries as a part of their historical responsibility as they are the major contributors to the stock of GHG in the atmosphere accumulated since the industrial revolution.
'By 2020, the developed country partners had to fulfil the promised support of USD 100 billion per year in the form of climate finance to the developing nations. This has not happened.
'The lack of required momentum in the scope, scale and speed of climate finance from developed to developing countries needs to be addressed,' it said.
The enhanced new and additional financial resources, technological support and support in capacity building should be mobilised and delivered to strengthen the on-going climate actions in developing nations like India, the Survey said.