Energy

6Pathways of Energy Transition and Its Impact on Economic Growth: A Case Study of Brazil

Pooja Sharma

Daulat Ram College, University of Delhi, New Delhi, India

6.1 Introduction

Climate Change has taken centre stage among all global challenges which both developed and developing nations are facing today. Each developed and developing economies is determined to adopt newer, cleaner and efficient ways of producing energy to mitigate the harmful and disastrous consequences (Paris Agreement, COP 21). It is for the first time in 20 years that COP21 will aim to achieve a legally binding along with international climate agreements to keep the average temperature below 2 °C (UNFCCC, COP 21). India is going to play a crucial role in meeting the targets. ‘India aims to lower its emission intensity by 33% to 35% by 2030 below 2005 levels’, (Times of India 2 October 2016). In this context, most of the advanced countries have established a legal framework with the view to encourage the shift from fossil‐based energy to a non‐conventional clean energy system. This attempt requires a well‐planned conscious effort to accomplish global objectives of energy efficiency and transition towards clean energy alternatives.

India is also committed to expand the contribution of non‐fossil‐based capacity of electricity generation to 40% of installed electric power capacity by 2030 (The Economic Times, 2 October 2018). The efforts are substantially towards decarbonization which refers to the efforts towards ...