MOSCOW (MRC) -- India will prioritize a phased transition to cleaner fuels and slashing household consumption to achieve net zero emissions by 2070, according to a national report released Monday at the United Nations COP27 climate summit in Egypt, said Hydrocarbonprocessing.
The report for the first time sketches out how the world's second-biggest consumer of coal will meet its decarbonization pledge made in 2021 as par of international efforts to limit warming to 1.5 degrees Celsius above preindustrial temperatures.
"This is an important milestone," said India's environment minister Bhupender Yadav at a COP27 event marking the report's launch. "Once again India has demonstrated that it walks the talk on climate change." Prime Minister Narendra Modi did not attend this year's climate talks in the Red Sea resort town of Sharm el-Sheikh.
Under the landmark Paris Agreement of 2015, all countries are required to submit a strategy document to the U.N. Framework Convention on Climate Change showing how they'll help combat global warming. These plans are known as a Long-Term Low Emissions and Development Strategies(LT-LEDS).
Despite a 2020 deadline for the plans, just 56 countries have so far submitted one. India is the last of the world's five largest economies to do so. India's LT-LEDS zeroes in on six key areas to reduce net emissions, including electricity, urbanization, transport, forests, finance, and industry.
The country, for example, proposes increasing the use of biofuels - particularly ethanol blending in petrol - boosting the number of electric vehicles on the road, alongside expanded public transport networks, and using more green hydrogen fuel.
We remind, India’s Petronet LNG plans to set up a greenfield petrochemical complex consisting of a 750,000 tonnes/year propane dehydrogenation unit (PDH), a 500,000 tonnes/year polypropylene line (PP) and other facilities for the import, storage and transfer of ethane and propane at Dahej, in western Gujarat state, said the company.
The project is estimated to cost around Indian Rupees (Rs) 142bn (USD1.74bn).