News Excerpt:

Recently researchers found that the greenhouse gas-reducing benefit of replacing highly polluting cookstoves has been overestimated by up to 10-fold.

Key highlights of the study:

• A peer-reviewed study looked at carbon offset schemes based on getting rid of primitive charcoal- or wood-burning home stoves used by some 2.4 billion people that contribute to global warming and cause millions of pollution-related deaths every year.
• The problem, according to the study published in the journal Nature Sustainability, is that a lack of methodological “rigour” is causing overestimation.
• The scientists evaluated five methodologies used to measure emission reductions of the cookstove projects system, and found all of them not appropriate.
• Data covering some 40% of cookstove credits worldwide showed that 26.7 million carbon credits barely avoided a tenth of the carbon dioxide emissions claimed, about 2.9 million tonnes.

Concerns raised:

• No one has trust that one carbon credit represents one metric tonne of reduced emissions.
• Over-crediting damages the credibility of carbon markets.
• Buyers of credits are allowed to emit one more tonne of carbon dioxide, weakening the credibility of carbon offset programmes.

India’s Nationally Determined Contribution Under Paris Agreement (2021-2030):

• India has committed - 
• To reduce Emissions Intensity of its GDP by 45 percent by 2030, from 2005 level,
• To achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, with the help of transfer of technology and low-cost international finance including from Green Climate Fund (GCF),
• To create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional forest and tree cover by 2030. 
• To mobilize domestic and new & additional funds from developed countries to implement the above mitigation and adaptation actions in view of the resource required and the resource gap.
• It marks an important step towards achieving India’s long-term goal of reaching net-zero emissions by 2070.
• A new framework for transition to cleaner energy for the period 2021-2030 aims to increase green jobs, boost manufacturing of low emissions products such as Electric Vehicles and super-efficient appliances, and promote innovative technologies such as green hydrogen.
• It will enhance investments in development programmes focused on sectors and areas vulnerable to climate change, particularly agriculture, water resources, health, disaster management, the Himalayas, and coastal regions.

Recent positive developments in terms of emission reduction policies include:

• Minimum renewable purchase obligation for the power distribution companies to be gradually increased from 24.6% in 2023 to 43.33% in 2030.
• The newly-adopted National Electricity Plan (NEP2023) provides guidance to facilitate the procurement and utilisation of Battery Energy Storage Systems (BESS). 
• The government has started auctions under a production-linked incentive programme for electrolyser manufacturing for green hydrogen production.

Way forward:

• At COP28, commit, along with the global community, to phasing out fossil fuels, but highlighting that India needs international support to achieve this domestically.
• Stop building new coal power capacity and develop a sustainable and inclusive plan for the early retirement of its existing capacity. 
• This includes the rapid build-out of renewable electricity and storage options, to ensure seasonal peaks in the demand can be met safely.
• Strengthen its climate targets. India is already on track to meet and exceed its 2030 targets. 
• Achieving the emissions reductions needed to limit warming to 1.5°C will require much international support.