Decoding Impact
Decoding Green Growth with Amitabh Kant
Fri May 19 2023
- India's G20 presidency aims to give voice to the economies of the global society and prioritize sustainable development goals, inclusive resilient growth, better climate action and finance, digital transformation, and women-led development.
- Green growth is integral to India's G20 agenda and includes sectors beyond renewable energy such as refinery, steel, fertilizer, and long distance transport. Private sector funds must flow with credit enhancement, de-risking, blended finance, and first-loss guarantees.
- India aims to become a global green hydrogen hub and has achieved its first NDC targets ahead of schedule with a goal to reduce emission intensity by 45% from 2005 by 2030 through transfer of technology and low cost international finance.
- The Lifestyle for Environment Life initiative addresses climate change through collaborative actions of various stakeholders with a special focus on individual actions. India has submitted a framework document to the UNFCC outlining its long-term carbon development strategy to reach net zero by 2070.
- India is making strides in both physical and digital infrastructure, with a focus on financial inclusion through their payment ecosystem and digital public infrastructure. Mobilizing finance, technology transfer, and capacity building support are crucial for developing countries to enhance their mitigation and adaptation efforts.
- Collaborators can play a crucial role in promoting sustainable lifestyle, building resilience among vulnerable communities, and sharing knowledge and best practices for adaptation and mitigation. Aspirational districts in India can become change agents for green growth through their focus on green agriculture, renewables, and digitization.
- Success for India's G20 presidency will be about pushing for sustainable development goals, inclusive resilient growth, better climate action and finance, digital transformation, and women-led development. The idea of India leading the G20 presidency resonates deeply with citizens as it sets the agenda for the world.