Need to forge pacts to attain India’s net-zero targets: Industry leaders says

With the immense potential of India’s transitioning energy systems, industry leaders have emphasized the need to forge partnerships across private, public and philanthropic entities to aid the country in attaining its net-zero targets.

At an event organized by the Ministry of Commerce and Industry and Invest India in association with the Energy and Resources Institute (TERI) held in connection to the annual meeting of the World Economic Forum (WEF). Girish Sethi, Senior Director at TERI, drew attention to the commitments made by India towards its net-zero targets at COP26 in Glasgow, and underscored the array of initiatives undertaken since at the government level, with the National Green Hydrogen Mission being the latest, to make the targets attainable.

The discussion brought together leaders from global businesses and coalitions to explore innovative technologies and business models for accomplishing India’s net-zero vision and help find solutions through public-private cooperation.

Paul Marriott, President for SAP Asia Pacific Japan (APJ), said regulations are one of the barriers in making the transition to renewables swifter and smoother. “India can be the world platform for green energy, but regulation needs to be accelerated,” Marriot said.

Åsa Persson, Research Director and Deputy Director at SEI, focused on the need for co-development of technology between developed and developing countries: “Mobilizing finance, de-risking, supporting market creation, green public procurement and developing common standards and definitions and providing data for global transitions and reducing information asymmetry” are critical to moving towards a net-zero world said Åsa Persson.