Our fossil fuel generation and consumption have led to critically damaging the climate. Although, the world is turning towards green energy generation, in comparison to the damage, the restoring process is quite slow. And, we are not considering completely phasing out fossil fuel. Currently, the target we have in front of us is to limit global temperature rise below 2 degrees Celsius. The Paris Agreement has played a major role in highlighting the issues and the benefit of collaborating to fight the problem. It makes sense because climate change is a global problem, and a single country, state, or city cannot achieve climate improvement targets on its own. The only effective way to stand against it is through global collaboration.
To build a sustainable environment, we must favor green energy transition and link businesses with environment supporting policies. Like many countries, India stepped forward in this regard- increasing solar energy capacity, initiating programs like- Make in India, Zero Effect-Zero Defect Scheme, Smart Cities, Swach Bharat, and Ganga Rejuvenation Mission to green energy adoption, boost manufacturing and manage waste responsibly. Such actions are commended as they promise to help a country in maintaining energy and resource management.
However, to contribute to building a sustainable environment, countries must join hands and act together helping each other to align with the agreed upon goals, otherwise, climate improvement can become very challenging.
Let us point out how the global partnership is important and how it can help.
Importance of Global Collaboration
Countries are now trying to reduce CO2 emissions by focusing on renewable energy generation (especially solar power), as fossil fuel consumption contributes to the majority of CO2. However, it is important to note that in 2018, CO2 emissions have increased by 2.7% in 2018 from its previous year. Research shows that continuing with fossil fuel consumption will increase CO2 emissions from 32.3 billion (in 2012) to nearly 35.6 billion metric tons (by 2020). It is a fact that only 1 kW of green energy can reduce more than 3,000 pounds of CO2 annually, however, it can only work to phase out the fossil fuel when the adoption rate in worldwide and not centered in a handful of countries.
And it is also important to note that although solar energy generation method is not a new technology, developing countries need support from developed countries in technology, investment and strategic decision making in order to make climate improvement a success.
Benefits of Global Collaboration
Global collaboration can help in the worldwide green energy transition, which stands as the best path towards climate improvement. In this respect, the International Solar Alliance (ISA) stands as an effective platform to offer support and lead the whole world towards energy sustainability, which can better the environment condition.
Technological Support: Global collaboration in the path to climate improvement can help developing countries to find the best platform to obtain a technological upgrade for more efficient green energy generation, waste management, and efficient use of resources. This will also create new markets for developed countries to sell their technology, at a lower price, thus urging growth in R&D and manufacturing scale.
Financial support: Although, solar energy harvesting technology is not new, developing countries, which are already dealing with huge forex outflow to import fossil fuels, need financial support for solar panels manufacturing, skill development, construction of plants, innovation, power evacuation infrastructure development etc. Cross-country collaboration can offer such facilities with ease. For example, we can uphold the current US$232 million (approx.) credit line being finalized by the EIB to finance renewable energy projects across India.
Information Base Development: To go ahead in green energy adoption, waste management, and resource efficiency initiatives, which stand to fight climate change, information support in making the right decisions can speed up the process and remove errors. Having a collective information base supported by multiple countries can prove to be very helpful for developing countries that are starting with the green energy transition. It can save them from making costly mistakes and lead the world towards energy and climate improvement.
Global collaboration is not just a choice anymore, it is a necessity to slow down climate change and eventually restore the environment. Delaying to collaborate will only result in causing irreversible changes to the world that we all live in. The best attribute of global collaboration for climate protection is the more countries band together, the more will be the opportunities for climate improvement in a faster and more feasible manner.
So, the path is clear, the results are easy to predict and all that it left is taking the step forward.
By Mr. Kuldeep Kumar Jain
Business Unit Head- EPC, Vikram Solar