By Anup Garg
The year 2024 is bidding good bye! And it’s a good time to check on how India solidified its position as a global leader in environment sustainability, with various developments, global events and milestones in renewable energy expansion, policy formulation, and technological innovation.
Achievements in 2024
- Renewable Energy: India has proven to be completely aligned to meet its ambitious targets in the renewable energy space. It increased its renewable energy capacity to 203.18 GW as of October 2024, marking a 13.5% increase from the previous year.
- Policy Initiatives: One of the positive developments during the year was seen in the Union Budget 2024-25, which allocated INR 600 crore to the National Green Hydrogen Mission, a substantial increase from the previous year’s allocation. This funding aims to support the development of green hydrogen, in advancing India’s decarbonisation strategy.
- Technological Integration: Apparently, the adoption of AI-enabled sustainability solutions has gained momentum, facilitating efficient resource management and emissions tracking, essential for achieving decarbonisation targets. Various small businesses and big organisations have involuntarily and voluntarily started tracking their emissions as a part of BRSR reporting given the evolving ESG landscape in India.
Emissions and Greenhouse Gas Management
Accurate measurement and management of greenhouse gas (GHG) emissions are important for organizations striving to meet sustainability targets responsibly. Earlier/traditional methods often involve manual data collection and estimation, which is mostly resource-intensive and prone to inaccuracies. Advancements in artificial intelligence (AI) are changing this process by providing precise, real-time insights into emissions across various sectors that businesses and common man engage with.
- AI-Powered Emissions Measurement: Today, AI tools enable organisations to automate the collection and analysis of emissions data, enhancing accuracy and efficiency. Various platforms in the market today offer AI-driven solutions that streamline carbon accounting management, or ESG accounting, saving time and delivering more reliable datasets.
- Predictive Analytics for Emissions Reduction: Innovative products and solutions in sustainability are using AI algorithms that can analyze historical data to forecast future emissions trends, allowing companies to proactively implement strategies to mitigate their carbon footprint. This predictive capability is crucial for setting realistic reduction targets and monitoring progress, towards a company’s sustainability journey.
- Real-Time Monitoring: AI facilitates continuous monitoring of energy consumption and emissions, enabling organisations to identify inefficiencies and optimise operations in real time. For instance, AI can analyze energy flows and predict supply and demand, improving the overall efficiency of energy systems and reducing carbon intensity of an organisation.
- Individual Carbon Footprint Tracking: Change in an individual’s behaviour is must to bring a mass movement. Beyond corporate applications, AI is also being utilised to help individuals monitor and reduce their carbon footprints. Mobile applications powered by AI can provide users with insights into their daily activities, suggest sustainable alternatives, and track progress toward personal sustainability goals.
Looking Forward to 2025
- Investment in Green Technologies: The focus for the year 2025 continues to prioritize expanding renewable energy capacity, integrating advanced technologies like Battery Energy Storage Systems (BESS) and pumped hydro installations. These investments are essential to support the growing renewable energy infrastructure.
- Circular Economy Practices: Adopting circular economy principles can significantly contribute to resource efficiency and waste reduction. AI-enabled sustainability solutions tailored to diverse sectors will promote a shift toward sustainable consumption and production patterns.
- Policy Frameworks: The government must continue to refine and enforce policies that support sustainable development. This includes tightening regulations, investing in renewable energy, and preserving carbon sinks such as forests.
- Mass awareness and engagement: Creating awareness about sustainability and encouraging public participation with regard to safeguarding environment are crucial. Educational initiatives and community engagement programmes at schools and colleges can play a significant role in fostering a culture of environmental responsibility.
To conclude, India’s decarbonisation journey in 2024 has been marked by notable achievements. However, the way forward needs concerted efforts from all stakeholders, including the government, corporate houses, and the public. India must set an example for sustainable development on a global scale, leading by example.
(The author Anup Garg is Founder and Director, at World of Circular Economy (WOCE), and the views expressed in this article are his own)
About WOCE: The World of Circular Economy (WOCE) is a global industry player dedicated to providing comprehensive sustainability solutions. Its mission is to empower organizations with innovative tools and strategies to achieve their sustainability goals. Its latest AI-powered platform, esgpro.ai, is designed to assist companies in their ESG reporting and compliance efforts, helping them meet stringent sustainability standards and drive their decarbonization efforts.
