Ultra-luxury homes which are priced over Rs 40 crore each, have had an unprecedented bull run in 2023, with both the number of sales and sales value of such assets hitting new peaks.
For the past two centuries, our pursuit of industrial development and economic prosperity in certain regions has resulted in significant consequences for future generations. We have depleted resources such as energy, food, land, health, and clean air, essentially robbing the rightful inheritance of those who come after us. Failing to rectify these actions swiftly is akin to cannibalism, feeding on our own children. We must recognize that the planet will seek retribution unless we atone for our sins with urgency.
The target of achieving Net Carbon Zero serves as a reminder that setting low budgets is insufficient; we must strive for much more. Over the course of industrialization, approximately 160 trillion MT of CO2 has been emitted into the atmosphere, primarily by the USA and EU, with China and India also contributing to a lesser extent.
Presently, the world emits over 35 GT per year, and India emits @2.5 GT/year and aims to reach Net Carbon Zero by 2070. To effectively combat this challenge, we must adopt a “polluter pays and cleans up” approach. Developed countries should provide funding for research and development (R&D) to enable the commercialization of technologies that can be implemented worldwide through contract research.
These technologies can emerge from any source, and our focus on R&D should be on developing Trident technologies that have the potential to achieve the vision of Negative Carbon Technologies. By embracing a global perspective, fostering collaboration, and investing in innovative solutions, we can collectively work towards mitigating climate change’s impact and securing a sustainable future for all.
Furthermore, it is essential to maintain a continued focus on reducing the cost of power through advancements in solar cell development and the exploration of other biotechnologies such as A2O (Algae to Oil) systems, biofuels, synthetic biotechnologies, and plastic waste recycling. These areas hold immense potential for creating sustainable energy sources and addressing environmental challenges. By investing in contract research and expanding our portfolio, we can accelerate the development and adoption of innovative solutions that pave the way for a greener and more efficient future. Leveraging disruptive technologies for process intensification is crucial for current businesses to achieve enhanced energy efficiency.
Cutting-edge advancements such as nanotechnology, ionic liquids, hydrodynamic cavitation, and membrane (including membrane less) technologies offer immense potential in this regard. By embracing these innovations, companies can significantly enhance their operational efficiency and reduce energy consumption.
The implementation of process intensification through contract research further enables organizations to explore the full potential of these disruptive technologies and customize them to their specific needs. Through collaborative efforts and the application of cutting-edge research, we can pave the way for a more sustainable and energy-efficient future in various industries.
We must develop cost-effective technologies capable of producing all the products currently derived from fossil fuels using CO2 extracted from the atmosphere. This entails advancing catalyst development and refining processes for manufacturing these products, which currently rely on petrochemical routes.
To achieve this, it is crucial to establish both test tube facilities and semi-commercial pilot plants dedicated to each green product. These facilities will enable optimization and significant cost reduction through the utilisation of cutting-edge technologies. The application of Trident technologies on a global scale is essential for fostering sustainability.
The emerging industry of Sustainability R&D holds the potential to export talent from India, similar to the growth of the IT industry in previous decades, thus establishing a new hub called the “New Sustainability Valley.” The success of R&D efforts in sustainability can be gauged by the continuous operation of laboratories and pilot plants, where round-the-clock work is carried out on sustainability projects in India and around the world. The Prime Minister, Mr. Narendra Modi, has introduced a transformative approach to tackle climate change called LiFE ~ Lifestyle for Environment.
This initiative aims to inspire individuals to embrace sustainable practices and safeguard the environment. As an “India Led Global Climate Movement 2023”, India has the opportunity to rally world leaders to unite in adopting climate-friendly actions and sustainable lifestyles. It is crucial to recognize the significance of individual efforts and collective responsibility in mitigating climate change. The time for action is now. Let’s save water, food, and energy, reduce travel, and minimize waste as individuals, making a positive impact on our planet.
* Avoid travel. Walk to shorter destinations.
* Don’t use a 1,050 kgs car for carrying 70 kgs weight.
* Don’t eat too much and spend energy in the gym.
* If you have to use the gym, climb at least two floors up and down.
* Be kind to your heart and bring down your BMI to less than 25.
* Don’t use the lift if you are able to climb a few floors.
* Please do not celebrate Diwali daily by preventing natural light in the daytime from coming in. By using LEDs, buildings con sume 40 per cent of the power.
* Use Table lamps if you are the only one in a big hall working late. If you can work from home, please do the same. Constructive dialogue and actionable outcomes on climate change mitigation, blending ancient wisdom with green energy, were at the forefront of the G-20 Development Ministers’ meeting in Varanasi.
The meeting yielded two significant results: an action plan to accelerate progress toward the Sustainable Development Goals (SDGs) and a focus on sustainable development lifestyles. This includes embracing a circular economy ingrained with the SDGs as a new pathway for climate change mitigation. While transitioning to green energy is crucial, it alone cannot fully address the climate crisis that threatens human survival. The solution lies in following the unique pathway exemplified by the Prime Minister: a change in lifestyle for the environment.
(The writer is Chairman, Environment & Green Hydrogen Committee, PHD Chamber of Commerce & Industry, and Managing Director, Greenstat Hydrogen India Pvt. Ltd. He can be reached at email@example.com)