Climate change are the most important issues world is facing today. It is a major threat to our planet and technology is one of the most important tools to address it.
India has been a refuge for climate technology investments due to decarbonization policies encouraged by Prime Minister Modi’s pledge to attain net-zero emissions by 2070. India ranks at the ninth spot globally for climate tech investment.
India’s diverse innovation ecosystem shows promise in leading the way to a greener future in resolving complex climate problems.
How India can ‘tech up’ the climate challenge
There are a number of ways that India can use technology to address climate change. One way is to invest in renewable energy sources, such as solar and wind power. India has already made significant progress in this area, but it needs to do more.
Another way is to improve energy efficiency. This can be done by making buildings more energy-efficient and by developing more efficient transportation systems.
India can use technology to develop new agricultural practices that are more resilient to climate change. For example, developing drought-resistant crops and improve water management practices.
India can also use technology to develop new technologies that can help to reduce greenhouse gas emissions.
Here are some specific examples of how India is already using technology to address climate change:
Solar power: India is now the world’s third-largest producer of solar power. The country has a target of installing 500 gigawatts of renewable energy by 2030, of which 280 gigawatts is expected to be solar.
Electric vehicles: India is also promoting the use of electric vehicles. The government has set a target of having 30% of all vehicles on the road be electric by 2030.
Smart cities: India is developing smart cities that use technology to improve energy efficiency and reduce pollution. For example, the city of Pune is using sensors to collect data on traffic and air quality. This data is then used to optimize traffic flow and reduce pollution levels.
Climate modeling: Indian scientists are using climate modeling to predict the impacts of climate change on the country. This information is being used to develop adaptation plans.
Benefits of a ‘teched up’ climate response
Reduced emissions: Clean technologies can help to reduce greenhouse gas emissions from a variety of sectors, including energy, transportation, and industry.
Improved energy efficiency: Clean technologies can help to improve energy efficiency, which can lead to lower energy costs and reduced emissions.
Job creation: The cleantech sector is a major employer in India. Investing in cleantech can help to create jobs and boost the economy.
Improved public health: Clean technologies can help to improve public health by reducing air pollution and water pollution.
Improved air quality: Climate technology can help to improve air quality by reducing emissions from fossil fuels and other sources.
Increased resilience to climate change: Climate technology can help us to adapt to the impacts of climate change, such as extreme weather events and sea level rise.
Future of India’s climate-tech ecosystem in India
India has a number of advantages that can help it become a leader in the climate tech sector. First, India has a large and growing population of engineers and scientists. Second, India has a strong startup ecosystem. Third, India has a rapidly growing economy that can provide the financial resources needed to invest in climate tech.
In the Union Budget for 2023/24, the government has introduced a series of strategic moves to nurture the climate-tech ecosystem and improve sustainable development.
Aatmnirbhar Clean Plan: India has a goal to reduce its greenhouse gas emissions by a billion tonnes by 2030, reducing carbon intensity by 45%. This necessitates investments in renewable energy and energy efficiency. The allocation of INR 2,200 crore to develop climate tech solutions highlights the government’s commitment to leveraging technology to fight climate change.
Integrated Sustainable Development Framework: India is crafting an integrated framework that encompasses various facets of sustainable development, including electric vehicles (EVs), waste management, water conservation, green buildings, energy-efficient equipment, and solar power plants. This holistic approach aims to reduce the impact of climate change and streamline execution.
EV Sector Support: The budget brought positive news for the electric vehicle (EV) sector. Exemptions from custom duties on imported machinery for EV battery manufacturing and raw materials for nickel-cathode production will reduce the cost of battery making EVs more affordable. Additionally, increased allocation for the FAME scheme further boosts the sector.
Alternative Clean Fuels: India, traditionally dependent on fossil fuels, is shifting its focus to cleaner alternatives. The government aims to increase the share of LPG/LNG in energy consumption from 6% to 15% by 2030, alongside hefty infrastructure investments. Natural gas can reduce emissions compared to coal. The budget also allocates funds for research and development in green hydrogen production and exempts excise duty on GST-paid biogas containment equipment to promote biogas adoption. Moreover, the ‘waste to wealth’ plants under the GOBARdhan scheme align with India’s green growth aspirations.
The Impact: These initiatives highlights the government’s commitment to sustainable development and green growth. By supporting domestic lithium-ion battery manufacturing, investing in clean tech research, and promoting alternative clean fuels, India is building a bridge towards a low-emission economy without compromising its energy needs and growth plans. These strategic moves aim to position India as a leader in climate-tech innovation and pave the way for a more sustainable future.
