New Delhi, March 9 (IANS) India, which has emerged as the world’s 5th largest economy, also stands out as a country with one of the lowest per capita carbon dioxide (CO2) emissions globally as it balances growth with sustainability and switches to renewables at a rapid pace.
According to figures compiled in the Hinrich-IMD Sustainable Trade Index (STI), India’s per capita CO2 emissions are at a mere 1.9, compared to a corresponding figure of 15.2 for Canada, 15.1 in the case of Australia, and 14.4 for the USA.
The others that follow on the list include Russia with per capita CO2 emissions at 13.3, South Korea (12.3), China (8.9), Japan (8.6), New Zealand (6.6) and the UK at 5.
The Hinrich-IMD Sustainable Trade Index (STI) is a tool that assesses the capacity of 30 global trading economies to engage in trade sustainably, using 72 indicators across economic, societal, and environmental factors, providing insights for policymakers and businesses.
India is among the world leaders in energy transition as it is headed to achieve a target of adding 500 GW of renewable energy capacities by 2030, with solar expected to play a major role in achieving this goal.
India’s total renewable energy installed capacity recorded a robust double-digit growth of 15.84 per cent to touch 209.44 GW as of December 2024, from 180.80 GW in December 2023, according to figures compiled by the Union Ministry of New and Renewable Energy (MNRE).
The total capacity added during 2024 amounted to 28.64 GW, representing a significant year-on-year increase of 119.46 per cent compared to the 13.05 GW added in 2023.
The solar power sector spearheaded this growth with the addition of 24.54 GW, reflecting a 33.47 per cent rise in its cumulative installed capacity from 73.32 GW in 2023 to 97.86 GW in 2024. Wind energy also contributed to this expansion, with an additional 3.42 GW installed in 2024, increasing the total wind capacity to 48.16 GW, a growth of 7.64 per cent from 2023, the figures showed.
Bioenergy has also shown significant growth, with its installed capacity rising from 10.84 GW in December 2023 to 11.35 GW in December 2024, reflecting a 4.70 per cent increase. Small hydro power projects saw an incremental growth, with installed capacity increasing from 4.99 GW in 2023 to 5.10 GW in 2024, representing a 2.20 per cent rise.
“MNRE has been taking various key initiatives to achieve Prime Minister Narendra Modi’s vision of 500 GW of renewable energy by 2030, reflecting India’s dedication to fulfilling its climate commitments while strengthening energy security. These figures underscore the government’s continued efforts to scale up renewable energy capacity in India,” an official statement said.
Rajasthan, Gujarat, and Karnataka have emerged as the leading states in solar capacity additions while the top 10 states accounted for 94 per cent of total installations.
–IANS
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