India to submit updated carbon-reduction targets by the beginning of COP30 on Nov. 10, Pg12

Key Highlights:

• India plans to submit its updated Nationally Determined Contributions (NDCs), referred to as NDC 3.0, by November 10 at the commencement of COP30 in Brazil.
• The updated NDCs are expected to reflect emission reduction targets by 2035.
• In 2022, India committed to reduce the emissions intensity of its GDP by 45% of 2005 levels and source half of its electric power capacity from non-fossil fuel sources by 2030.
• India reported a 33% reduction in emissions intensity of its GDP between 2005 and 2019 to the United Nations climate-governing body as of December 2023.

Detailed Insights:

• India's previous NDCs included creating a carbon sink of at least two billion tonnes by 2030 and sourcing half of its electric power capacity from non-fossil fuels.
• The updated NDCs are significant because COP30 will assess the factors hindering countries from achieving their stated NDCs.
• The European Union is expected to submit its NDCs ahead of COP30, with an indicative 2035 target ranging from 66.25% to 72.5% compared to 1990 levels.
• India is expected to operationalize the India Carbon Market by 2026, assigning mandatory emission-intensity targets to 13 major sectors, enabling them to trade savings via emission reduction certificates.
• The UN will release a synthesis report next month aggregating emission reduction numbers to assess the globe's progress towards the Paris Agreement targets.

Key Concepts Involved:

• Nationally Determined Contributions (NDCs): Climate action plans submitted by countries under the Paris Agreement, outlining their emission reduction targets and strategies.
• Emissions Intensity of GDP: The amount of carbon emissions produced per unit of a country's Gross Domestic Product, indicating the carbon efficiency of economic activity.
• Carbon Sink: A reservoir that accumulates and stores carbon-containing chemical compounds for an indefinite period, reducing the concentration of CO2 in the atmosphere.