What does ratifying the Paris deal mean for India

 Why is it important for India to ratify the Paris Agreement

2^nd October marks another important day in the history of India, with the country ratifying the Paris climate change agreement. For the agreement to formalize, 55 countries contributing atleast 55% of global greenhouse gas emissions need to ratify it.

The Prime Minister of India tweeted: “The message of Gandhi Ji inspires all of us. India will always work with the world to overcome climate change & create a green planet”.

President Obama tweeted: “Gandhiji believed in a world worthy of our children. In joining the Paris Agreement, Narendramodi & the Indian people carry on that legacy”.

However according to the latest numbers by the United Nations, countries accounting for 52% of the total GHG emissions have come forward. These include major polluters like India, China and USA.

India currently accounts for 4.5% of the global GHG emissions and has already set a target to install 175 GW of renewable energy plants by 2022 to reduce this. The country also says it will produce upto 40% of its power requirements from alternative energy sources by 2030. While the target is quite aggressive, a lot has been happening in India since then. What the country lacks is the availability of funds to support this cause.

During the Obama-Modi meeting earlier this year, new financing deals were agreed upon to boost the state of solar energy in India.

1. $20 million US-India Clean Energy Finance Initiative – initial capital will be provided to mobilize up to $400 million in private capital by 2020.
2. Another $40 million Fund – will help electrify villages without electricity in India

India will require over $2.5 trillion to meet this target. The country has played an exponential part in the renewable energy space, with its PM launching the International Solar Alliance at the 21^st session of the conference of parties which was held in Paris last year. The agreement was adopted by 185 nations at the Paris meeting in December last year but has been ratified by 62 countries so far. This has been the world’s largest effort to fight climate change so far.

India ratifies to be on the clean path

India ratifying the deal shows the country’s commitment to move ahead on the solar path. Its humongous renewable energy targets and PM’s ISA are proofs of the country’s willingness to cut emissions and ensure a healthy life for the future generations. If India achieves these numbers, it will change the whole look and fate of its people. India has huge requirement of power and still a large proportion of its population lives in darkness. Solar and other renewable energy will not only solve the country’s power problems but also pave the way towards an even cleaner and sustainable future.

A number of villages in India are powered through micro grids and run on solar power. If India gets the desired funding help it claims to be more energy efficient in the next decade. India also aims to increase its forest cover to create additional carbon sink of upto 2.5-3 billion tonnes. More energy efficient appliances, buildings will be seen in the next decade as pledged by the country. The country’s transportation system will also be battery operated.