Roadmap for Answer Writing 1. Introduction Briefly introduce the concept of carbon trading and its significance in tackling climate change. Define carbon trading as a system where carbon credits are bought and sold, allowing entities to offset their emissions by investing in projects ...
Model Answer Introduction The Green Grid Initiative, also known as One Sun One World One Grid (OSOWOG), was jointly announced by India and the UK at the COP26 UN Climate Change Conference in Glasgow in November 2021. This initiative aims to accelerate the development of interconnected electricity grRead more
Model Answer
Introduction
The Green Grid Initiative, also known as One Sun One World One Grid (OSOWOG), was jointly announced by India and the UK at the COP26 UN Climate Change Conference in Glasgow in November 2021. This initiative aims to accelerate the development of interconnected electricity grids globally, enhancing energy access for disadvantaged communities through mini-grids and off-grid solutions. The concept of a unified global solar grid was initially proposed by Indian Prime Minister Narendra Modi during the International Solar Alliance (ISA) in 2018, highlighting the need for sustainable energy solutions on a global scale.
Body
The Green Grid Initiative has several key objectives:
- Accelerate Decarbonization: The initiative aims to expedite the decarbonization of energy production worldwide. By promoting renewable energy sources, particularly solar power, it seeks to reduce greenhouse gas emissions and mitigate climate change.
- Interconnected Solar Power Grid: The initiative envisions establishing an international network of interconnected solar power grids. This global grid will ensure a continuous supply of clean energy, allowing countries to access renewable resources efficiently and sustainably.
- Enhance Investment and Collaboration: The Green Grid Initiative encourages collaboration among countries, pooling skills, technologies, and financial resources. This cooperation will foster research and development centers and promote investment in renewable energy infrastructure globally.
The idea for the OSOWOG initiative was first proposed at the ISA in 2018, laying the groundwork for the Green Grid Initiative. The formal launch at COP26 in 2021 marked a significant step towards promoting renewable energy integration and global energy connectivity.
Conclusion
The Green Grid Initiative, rooted in the concept of a global interconnected solar power grid proposed at the ISA in 2018, gained momentum with its launch at COP26. It reflects the commitment of nations to achieve universal access to renewable energy and combat climate change effectively.
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Model Answer Reducing Greenhouse Gas (GHG) Emissions Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financRead more
Model Answer
Reducing Greenhouse Gas (GHG) Emissions
Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financial incentives for emission reductions. For example, trading in sulfur dioxide permits successfully helped reduce acid rain in the U.S. Carbon trading systems have been adopted globally, covering over 21% of global emissions by 2021, up from 15% in 2020-Effectiveness and Flexibility**
Carbon trading is often more cost-effective than imposing direct regulations or taxes on emissions, allowing industries to meet emissions targets without the heavy burden of direct control measures. This flexibility helps reduce the overall societal costs of combating climate change .
Alih the Paris Agreement
Carbon markets align with Article 6 of the Paris Agreement, encouraging international cooperation by facilitating the trade of carbon credits. This fosters a collective global effort to achieve emissions reduction goals .
Promoting Innd Financial Benefits
The system incentivizes industries to innovate and adopt cleaner technologies to reduce emissions. It also offers financial rewards for entities that emit less than their allowed limits by enabling them to sell unused credits .
Key Features oon Credit Trading Scheme (CCTS) 2023
Governance and Oversight
The Ministry of Power has set up the CCTS framework to regulate carbon markets in India. The National Steering Committee (NSC), led by the secretaries of Power and Environment, provides direct oversight of the Indian carbon market .
Role of Bureau of Energy Effic)
BEE will administer the carbon market, setting emission reduction targets, issuing carbon credit certificates, and accrediting carbon verification agencies .
Regulatory Bodies and Functions
The CCTS 2023 is an essential step in India’s climgy, helping to integrate domestic efforts with global initiatives for climate mitigation.
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