ORF releases monograph 'Shaping our Green Future: Pathways and Policies for a Net-Zero Transformation'

Climate scientists have warned that the world must reach zero carbon emissions by 2050 if global average temperatures do not increase by more than 1.5-degree Celsius and set off catastrophic changes to the climate. Many countries have set target dates for decarbonising their economies; India's is 2070.

What will this mean for the global economy? Can "net zero" be a net positive for Indian and global growth? And what are the development pathways that must be put into place in the next few years to turn this new climate ambition into a new, greener development paradigm? What are the changes to the multilateral architecture, to international regulation, and to local laws that must be undertaken if ambitious targets are to be achieved -- or, indeed, exceeded?

And how can we ensure that the transition is just and inclusive? This collection of essays and papers provides modelling and analysis that begin to answer some of these questions.

The authors include Jayant Sinha, Chairperson of the Standing Committee on Finance and Lok Sabha MP from Hazaribagh; Akhilesh Tilotia, Principal at National Investment and Infrastructure Fund (NIIF); Kelly Sims Gallagher, Professor and Academic Dean at The Fletcher School, Tufts University; and Kate Hampton, Chief Executive Officer at the Children's Investment Fund Foundation (CIFF).

Jayant Sinha wrote that with the Covid-19 pandemic slowing down and the economy recovering strongly, India's development pathway must now focus on two key areas Climate change and job creation.

"The next decade will be decisive in achieving these twin goals. The first requires a rapid transition away from fossil fuels as well as adapting to disruptive new weather patterns; the second entails the creation of millions of high-quality jobs every year, for all of India's young workforce," Sinha said.

"India needs to ensure that its youth have access to employment, while simultaneously shifting to a deep decarbonisation pathway. The failure to address these challenges will likely result in widespread distress, unchecked migration into collapsing cities, and significant social strife. India's actions in the next few years will determine whether its development model can ensure sustainable prosperity for all. The choices are stark, the consequences profound," Sinha said.