We have to balance the energy trilemma of energy security, energy equity & environmental sustainability: Dr VK Saraswat

New Delhi: “For an accelerated path to net-zero, India needs to adopt new policies like carbon pricing, technology breakthroughs like Carbon Capture Utilisation & Storage (CCUS) and accelerated shift to electric mobility. I am happy that Oil and Natural Gas Corporation Limited (ONGC) is deep into the pursuit of CCUS,” remarked the missile technology and defense research expert Dr Vijay Kumar Saraswat, Padma Bhushan, as he delivered the keynote address on "Sustainable Energy Transition" at the 11th Subir Raha Memorial Lecture in SCOPE Complex, New Delhi on July 4.

The prestigious Subir Raha Memorial Lecture organized by United Nations Global Compact Network India (UN GCNI), Indian Oil Corporation Limited (IOCL), and Oil and Natural Gas Corporation (ONGC) witnessed the Member of National Institution for Transforming India (NITI) Aayog and Chancellor of Jawaharlal Nehru University Dr. Vijay Kumar Saraswat as the keynote speaker.

“We must dispel the myth that developing countries like India bear a significant burden in global greenhouse gas emissions. In fact, India's contribution has been less than 4 percent during the period of 1850-2021," he stated. Dr. Saraswat opined that, “While renewables will contribute to 25 percent of carbon emissions abatement, the crucial role of Carbon Capture and Storage (CCS) and Carbon Capture and Utilization (CCU) industries cannot be understated, accounting for 6 percent.”

The scale of this endeavor necessitates significant investments exceeding 100 trillion USD. "To accelerate our path to net zero, India must adopt new policies such as carbon pricing, leverage technology breakthroughs like CCUS, and expedite the transition to electric mobility, green steel, and other sustainable practices," emphasized Dr. Saraswat. He mentioned that ONGC is deeply committed to India's journey towards Net Zero, and is fully engaged in CCUS efforts, aiming to make a substantial impact in India's path to a sustainable future.

Disclaimer: This story is a press release and is being published without any editing by the PSU Watch desk.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)