Need to balance energy security, energy equity & environmental sustainability: Saraswat
New Delhi: India has to balance between energy security, energy equity and environmental sustainability said VK Saraswat, member, Niti Aayog. Delivering the keynote address at the 11th Subir Raha Memorial Lecture, Saraswat stressed on the need to adopt newer technologies like carbon capture utilization & storage (CCUS).
“We have to balance the energy trilemma of energy security, energy equity & environmental sustainability," he said. “For an accelerated path to Net Zero, India needs to adopt new policies like carbon pricing, technology breakthroughs like Carbon Capture Utilisation & Storage (CCUS) and accelerated shift to electric mobility." The Subir Raha Memorial Lecture was organized by United Nations Global Compact Network India (UN GCNI), Indian Oil Corporation Limited (IOCL), and Oil and Natural Gas Corporation (ONGC).
He mentioned that India’s contribution has been less than 4% during the period of 1850-2021. “While renewables will contribute to 25 percent of carbon emissions abatement, the crucial role of Carbon Capture and Storage (CCS) and Carbon Capture and Utilization (CCU) industries cannot be understated, accounting for 6 percent," he added.
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