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In a yet-to-be released study, McKinsey & Co. says India is already on its way to becoming one of the world’s least carbon-intensive countries—despite the country’s 7.5 percent economic growth rate.
The study is the second climate accolade for the country this month. Last week, the World Bank—for the first time—supported India’s stance on international climate change.
India recorded a greenhouse gas intensity of 0.7 metric tons (0.77 U.S. tons) of carbon dioxide equivalent per $1,000 of GDP in 2005.
McKinsey officials stated in a presentation that if India moves forward with its economic progress as planned it will automatically lower its greenhouse gas intensity to 0.45 metric tons by 2030, according to the Times of India.
The figures boost the country’s position that it’s already taking an economic route, but industrialized countries disagree, saying India should be doing more to reduce its future emissions (see A Copenhagen call to action) http://www.cleantech.com/news/4415/copenhagen-call-action
McKinsey is known for its abatement cost curves, calculations showing how much it will cost or generate for the economy to take emission cuts from particular sectors or using certain technologies. In the cost curves McKinsey produced for India, it backed the country’s contention that most emission-cutting activities beyond energy efficiency and other ongoing activities would cost hundreds of billions of dollars.
The report says more than 80 percent of the opportunity to reduce emissions is difficult to implement or will cost more to do than it will pay in returns, according to the Times of India.
Despite making positive assumptions about costs of some energy reducing technologies such as solar power, the report says India would end up diverting up to 2 percent of its gross domestic product toward greenhouse gas reductions.
Among its efforts to reduce its environmental footprint, India has indicated it plans to establish a center for energy biosciences to develop renewable energy resources that reduce the nation’s dependence on petroleum (see India to establish a center for Energy Biosciences) http://www.cleantech.com/news/2403/center-for-energy-biosciences-india
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