WHY IN NEWS?

India’s upcoming five-year climate agenda underlines its transition to a proactive global leader in sustainability. Key initiatives include advancing ambitious emission targets like net-zero by 2070, bolstering global institutions such as the International Solar Alliance, and promoting sectoral emissions reductions beyond the power sector. The agenda emphasizes state-level climate actions and economic sustainability, positioning India as a leader in global climate negotiations and finance discussions, with a focus on equity and resilience across sectors and regions.

Summary of the news:

India’s new government is shaping a bold five-year climate agenda, aiming to integrate sustainability across all sectors and assert global leadership. Key initiatives include advancing ambitious emission targets like net-zero by 2070 and establishing significant global climate institutions. The agenda emphasizes expanding sectoral emission reduction targets beyond the power sector, particularly in private mobility, to drive economic growth and sustainability. State-level actions are crucial, with efforts to support net-zero plans and enhance coordination through scientific modeling and unified data frameworks. India seeks to strengthen its role in international climate negotiations, positioning itself as a leader advocating for climate finance and justice globally.

NET ZERO EMISSION TARGET:

• Net zero emissions refer to achieving a balance between the amount of greenhouse gases (GHGs) emitted into the atmosphere and the amount removed from it. This balance can be achieved either by reducing emissions to zero or by offsetting emissions through methods like carbon capture and storage or afforestation.
• It is essential for limiting global temperature rise to well below 2 degrees Celsius above pre-industrial levels, as outlined in the Paris Agreement. Net zero targets are considered necessary to reach this goal and prevent the most catastrophic effects of climate change, such as extreme weather events, sea-level rise, and ecosystem disruptions.
• Many countries, including major emitters like the European Union, the United States, China, and India, have set or are considering net zero emissions targets. These targets vary in ambition and timeline but generally aim to achieve net zero emissions by mid-century (2050) or sooner.

Challenges: Achieving net zero emissions poses significant challenges, including technological advancements, economic transitions, and social adaptations. Sectors such as energy, transportation, industry, and agriculture require substantial transformations to decarbonize effectively.

• Policy Implications – Governments worldwide are adopting policies and regulations to support the transition to net zero emissions. These include incentives for renewable energy deployment, carbon pricing mechanisms, research and development funding for green technologies, and international cooperation on climate finance and adaptation.

India’s Context: India has committed to achieving net zero emissions by 2070, as announced during the Glasgow Climate Summit in 2021. This target reflects India’s pathway towards sustainable development while balancing its developmental needs with global climate responsibilities.

• Net zero emissions targets are critical for mitigating climate change impacts and achieving global climate goals. The effectiveness of these targets depends on ambitious policy measures, technological innovation, international collaboration, and societal engagement in transitioning towards a sustainable and resilient future.

WHAT IS G 20 PRESIDENCY:

The G20 presidency rotates annually among its member countries, with each presidency culminating in a summit attended by heads of state or government.

The presidency holds significant influence over the agenda, priorities, and outcomes of the G20 during its tenure.

Process: The presidency involves a series of ministerial and working-level meetings throughout the year, culminating in a leaders’ summit where decisions and declarations are made.

India’s G20 Presidency 2023:

Theme: India’s presidency theme was “Building Consensus for Fair and Sustainable Development”, focusing on inclusive growth, sustainable development, and climate action.

Priorities: Key priorities included enhancing global health resilience, promoting digital inclusiveness, ensuring financial stability, and advancing climate goals.

Achievements: India emphasized reforms in global financial governance, advocated for equitable access to COVID-19 vaccines, and highlighted the importance of climate finance for developing nations.

Legacy: The presidency underscored India’s role as a bridge between developed and developing nations, shaping global economic discussions and priorities.

Significance for India and Global Governance:

Platform: The presidency provided India with a platform to influence global economic policies, showcase its development model, and foster partnerships with diverse economies.

Challenges: Balancing diverse interests within the G20, addressing global economic disparities, and advancing sustainable development goals were key challenges during India’s tenure.

Impact: India’s presidency underscored its growing stature in global economic governance and highlighted its priorities on issues such as climate change, digital governance, and global health.

PYQ:

• Year: 2019 (prelims):

     “Which of the following countries hosted the G20 Summit in the year 2019?”

       Options: A) Germany, B) Japan, C) Saudi Arabia, D) Argentina

       Answer: B) Japan

• Year: 2016 (prelims):

     “In the context of G20 summit, which of the following statements is/are correct?”

1. G20 is an international forum for governments and central bank governors from 20 major economies.
2. G20 members represent about 85% of global GDP.

       Options: A) 1 only, B) 2 only, C) Both 1 and 2, D) Neither 1 nor 2

        Answer: C) Both 1 and 2

• Year: 2018 (Mains):

     – “Discuss the role of the G20 in global economic governance. How has India benefited from its participation in the G20 forum?”

• Year: 2017 (Mains):

     – “Critically analyze the significance of the G20 for global economic stability. How can developing countries like India leverage their participation in the G20?”