Incentives like tax breaks, subsidies and low-interest loans, as well as regulatory frameworks that encourage the adoption of green technologies, foster innovation and promote sustainable business practices can be advantageous for both companies and the environment
We learned a lot from the COVID-19 pandemic, one of which was how dependent we are on food, water, and energy to survive. Several Sustainable Development Goals (SDGs) such as those pertaining to human health and well-being are tied to these necessities. Despite the fact that India has introduced numerous policies to speed up efforts to address climate change and the SDGs, there must be change on a global scale.
By actively participating in multilateral forums like the United Nations, World Trade Organization, and other regional and international organizations, India can inspire other nations to cooperate to overcome global concerns. Supporting changes to improve the ability to solve global concerns and striving to increase the representation and participation of developing nations in decision-making processes are a few examples of how we can do this. India can also support international efforts to address problems like hunger, poverty, and inequality by offering financial and technical support, exchanging knowledge, and taking part in collaborative projects.
The use of green technologies has taken the world by storm. The green energy market in India is dominated by solar energy, followed by wind, biomass, and hydroelectricity. Due to several initiatives to promote solar parks, solar cities, and solar pumps as well as the National Solar Mission, India's solar capacity has significantly expanded. India can encourage international trade in green technologies by imparting its knowledge of renewable energy sources. Additionally, it can promote the creation of environmentally friendly behaviours and infrastructure that can aid in addressing problems like climate change and environmental degradation.
The United Nations adopted the SDGs as a global effort to eradicate poverty, safeguard the environment, and guarantee that by 2030 everyone lives in peace and prosperity. The 17 SDGs understand that development must balance social, economic, and environmental sustainability and that actions in one area will have an impact on results in others. To achieve the SDGs, which aim to promote sustainable development and combat poverty, inequality and climate change, we must work hand in hand with other nations.
India can lead by example in accelerating the achievement of SDGs. This can involve encouraging eco-friendly development methods, funding renewable energy sources, and improving access to high-quality healthcare and education. It is critical to stress the importance of giving the most vulnerable groups, such as women, children, and disadvantaged communities, top priority during the SDG implementation process and enhancing possibilities for underprivileged people to earn a living.
India can also motivate the private sector to join initiatives for international cooperation and the creation and sharing of green technologies. Incentives like tax breaks, subsidies and low-interest loans, as well as regulatory frameworks that encourage the adoption of green technologies, foster innovation and promote sustainable business practices can be advantageous for both companies and the environment.
South-South cooperation involves cooperation between nations in the global south, including the sharing of information, skills, and resources as well as joint efforts to address problems like poverty, inequality, and climate change. India can impart its knowledge and skills to other nations in the global south in a variety of fields, including agriculture, health, education, and renewable energy. This can comprise offering technical support, training courses, and expert and practitioner exchange trips.
If everyone understood that the environment is deteriorating because we have been trying to step on it in the name of progress and urbanisation, most of the problems the world faces today could be resolved. We must keep in mind that development does not entail achieving success in the technological realm. Progress occurs when man and the environment coexist peacefully. In fact, conversations about green technologies and SDGs will be far more fruitful and beneficial if all nations recognise that we share the Planet Earth as our home.
(Pradip Shah is co- founder, grow trees.com. He has been instrumental in establishing CRISIL and is currently chairman of Pfizer Limited, Kansai Nerolac Paints, Sonata Software, BASF India and director of Bajaj Auto, Godrej & Boyce, Mane Kancor Ingredients. He also serves as Chairman of the Advisory Board of Infomo Global of Singapore and as member, Dun & Bradstreet International Advisory Board.)