Home > Megatrends > Decarbonization
Decarbonization means the reduction of the carbon or switching to an effective economic system which supports to sustainably reduce the rising global temperatures and reduce the carbon emissions to achieve net zero goals associated with the ESG commitments. It majorly includes renewable and low carbon energy, advanced carbon capture solutions & energy efficient technologies along with inclusion of low carbon materials in the construction industry as well as electric mobility. The energy sector corresponds to most of the emissions, thereby shifting the need to limit the use of conventional fuels and transition to low carbon alternatives comprising hydrogen and wind power, among others. Shifting focus of the utility and energy providers toward renewable energy by advancements in energy efficient technologies will continue to contribute toward sustainability. The COVID- 19 pandemic has invariably accelerated the decarbonization efforts across the globe, impacting the energy demand, industrial production, and short term mobility behavior. Short term emission reduction owing to the prevalent crisis and lockdowns and enhanced investments to achieve the climate goals will continue to drive the transition.
• Effective government policies with positive climate potential in the short and medium timeline
• Large scale investments by both public and private sector to support the regulatory framework.
• Technological advancements/innovations to support the technology costs and thereby stimulate investments for the zero carbon energy sources.
• Enhancing the use of renewable energy in the final energy mix along with electrification of the major processes across various end use industries.
• Recognizing the high emitting sectors including transportation
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