Navigating Climate Change: Leveraging Disruptors for Sustainable Growth
Key Ideas
- Climate change is now a critical economic issue, with new disruptors like AI and clean tech presenting opportunities for sustainable growth.
- Businesses need to focus on deeper integration of clean energy, electrification, industrial sustainability, and promoting circular economy practices.
- India is making strides in renewable energy, green hydrogen, and defining taxonomy for green investments, while also emphasizing domestic manufacturing of clean technology products.
- Climate policy is influencing industrial policy, necessitating trust-building and collaboration among countries to achieve climate goals and ensure a secure global economy.
During the World Economic Forum Annual Meeting in Davos, CEEW chief Arunabha Ghosh emphasized that climate change is not just an environmental issue but a key economic risk. He highlighted the importance of leveraging new disruptors like artificial intelligence and green technology for sustainable growth. Ghosh underlined the need for a deeper integration of clean energy into the broader energy system, electrification of the economy, and industrial sustainability practices.
He pointed out that environmental risks are dominating the business agenda globally, with climate change being a significant factor in economic decision-making. Ghosh commended India's efforts in renewable energy, green hydrogen, and developing a taxonomy for green investments. India's focus on domestic manufacturing of clean technology products and its potential to become a technology hub were also lauded.
Ghosh stressed the importance of not only deploying clean energy infrastructure but also developing the financial and manufacturing ecosystem around it. He mentioned India's strides in indigenizing technologies like electrolysers for hydrogen production. The intersection of climate policy with industrial policy and geopolitics was highlighted as crucial for achieving climate goals.
Regarding India's climate goals, Ghosh stated that India has consistently exceeded its ambitions ahead of schedule. He emphasized that the low carbon transition for India is not about de-growth but about sustainable economic development. He called for investments in future technologies and businesses to secure India's position in the global low carbon economy.
In anticipation of the Union Budget, Ghosh expressed expectations for continued support for critical missions like green hydrogen and domestic manufacturing of clean technology products.
Topics
Green Hydrogen
Renewable Energy
Clean Energy
Climate Change
Sustainability
Green Technology
Manufacturing
Policy Measures
Economic Risks
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