India’s G 20 Presidency
Present circumstances:
- Last year saw the onset of the first truly global energy crisis, which presented problems for individuals, businesses, and governments due to volatile markets and unexpected price hikes.
- India has experienced the crisis less severely than many other countries, yet it has nevertheless had an effect. Given the serious concerns of climate change and air pollution that the world is currently confronting, the most recent crisis has led many people to reconsider how they utilise energy.
- The steps done to improve the energy efficiency of everyday items, from cars to home appliances, will have a significant impact on making the world’s energy consumption more sustainable. These steps are crucial, along with adjustments to routines and behaviour.
Initiative Lifestyle for the Environment (LiFE) in India:
- Prime Minister Narendra Modi launched the LiFE project in October 2022 to support both private and public environmental preservation initiatives.
- Energy prices, carbon dioxide emissions, air pollution, and inequities in energy use could all be decreased thanks to this vital platform.
- This entails making sensible choices on a personal level, such as using public transit more frequently, switching to electric cars from gasoline or diesel models, installing energy-efficient equipment in homes, and many other things.
- Thus, LiFE encourages environmentally friendly ways of living and consuming worldwide, highlighting India’s position as a global leader. The programme could be able to help put both mature and emerging economies on a more sustainable path.
- According to a recent IEA study, the world’s carbon dioxide emissions would be reduced by more than 2 billion tonnes by 2030 if all countries adopted the kinds of policies recommended by LiFE.
- This would be enough to reduce emissions by around one-fifth of what is necessary for the globe to achieve net zero emissions by the end of this decade. Additionally, the adjustments would result in a $440 billion annual reduction in energy bills for consumers globally.
LiFE’s main goal is to make better use of energy:
- The project supports strict restrictions that will promote renewable energy sources like solar, wind, and hydrogen more quickly.
- We need to take a number of steps at once to solve the environmental problems the world is experiencing while making sure that everyone has access to dependable and affordable electricity.
- Thus, the concepts of LiFE can be a helpful addition to more established policies.
- Hard-to-decarbonize industries like steel and cement, for example, might benefit from LiFE by implementing strategies that use energy and other resources more efficiently. Increased use of recycled steel can reduce the amount of steel that needs to be decarbonized. It makes the difficulty of the task more manageable.
- India’s strategy works because it combines individual accountability with governmental action. This is crucial. We all need to make the right decisions when it comes to the environment and sustainability, but frequently these decisions are not supported by the appropriate infrastructure, incentives, or knowledge.
- For example, public transit needs to be more efficient and available in more locations if we want to convince people to leave their cars at home.
- To allow individuals to live closer to their places of employment and amenities that reduce commuting times and encourage walking and cycling, urban design must be optimised.
- In this context, policies are essential because they actively offer alternatives, enabling sustainable choices. India’s Ujala plan, which offers extremely affordable LED bulbs, is a notable example.
- It has transformed the lighting industry in India by educating people about the benefits of making an environmentally friendly decision.
LiFE will help improve people’s quality of life:
- According to the IEA’s study, as people strive to improve their standard of life, there will be an increase in the demand for energy in developing economies.
- Diverse strategies are required to ensure that nations prosper while advancing their decarbonization initiatives. LiFE’s recommendations can bolster this.
- Although it shouldn’t, LiFE should be limited to India and emerging markets. Because its lessons are generally relevant, the advanced economies may be where they have the biggest influence.
- Evidence suggests that the global energy crisis is reviving interest in behaviour change and energy efficiency, particularly in wealthier economies that have been badly damaged.
- For instance, the European Union set an aim to reduce its natural gas use by 15% in response to the crisis. It finally outperformed forecasts, with the demand for gas in buildings dropping by over 17% in 2022 despite an increasing economy.
- Technology may motivate individuals and businesses to take action. Although the circumstance was extreme, it shows that consumers are prepared to take accountability for the energy they use for the greater good.
Conclusion:
- By providing other leading economies with a forum to exchange knowledge and comprehend the potential impact that LiFE’s recommendations can have in the fight against climate change, air pollution, and prohibitively high energy costs, India’s G20 Presidency presents an exceptional opportunity to expand the LiFE initiative globally.
- Around 80% of the world’s energy demand is met by the G20, therefore any changes made by its members might have a big effect. The IEA supports such programmes as a result and hopes that other countries will learn from some of India’s LiFE experiences.
