India, known for its rich history and tradition, is now at a point where old values of living in harmony with nature are clashing with contemporary lifestyle demands. Embracing change and aligning with the global initiative to combat climate change and cultivate sustainable living environments for all is crucial.
Sustainability has three main parts: environmental, social, and economic.Environmental sustainability is about taking care of nature so that future generations can enjoy it too. This includes efforts to reduce pollution and save different plant and animal species. Social sustainability aims to create a fair society where everyone has the chance to live well, focusing on reducing poverty, and hunger, and improving education and healthcare. Economic sustainability is about having a strong economy that can provide for today’s needs without harming the future, mainly by creating jobs and reducing poverty.
India needs to take sustainability seriously due to its own challenges and its role in the world. It is one of the top three countries emitting carbon dioxide, a gas contributing significantly to climate change. This problem is already causing extreme weather like floods and heatwaves in India. As more people in India learn about sustainable living, there’s a growing movement to make changes for the better.
This shift towards sustainability is not just happening in India but all over the world. Governments, corporations, and groups of people are all working together to create a more sustainable future. In 2021, a record-breaking $755 billion was invested globally in sustainable energy, with India contributing $14.5 billion to renewable energy.
According to Climate9ers – an Indian VC firm, Climate-tech solutions are the need of the hour. India is rightly poised to build breakthrough solutions for global markets, but the sector needs greater capital inflow into science-based solutions.
Companies in India are also joining this green movement, driven by customer demands, investment trends, and new government rules. A notable around 70% of Indian customers are willing to pay extra for sustainable products. As a result, there are now many sustainable products available in the market, ranging from organic foods to electric cars.
However, for new green businesses, there are some challenges like getting funds, navigating through complex regulations, and making people aware of the benefits of sustainability. Despite these hurdles, a substantial number of platforms are helping by bringing together different groups interested in sustainability to share knowledge and grow together.
Looking ahead to 2030, the future seems challenging but promising. Renewable energy like solar and wind is expected to power a big part of the world’s electricity needs, and electric cars are likely to become more common. More people will be living in cities, and there will be a need for more food, leading to a call for sustainable food production and waste management.
India has set ambitious green targets for 2030, like generating a massive amount of electricity from non-fossil fuel sources. Similarly, the US and China are investing heavily in renewable energy and electric vehicles.
The road to 2030 has many unknowns. The speed of technological advancements, strong government policies, and people’s behavior will all play a part in how fast the world can become more sustainable.
In a nutshell, the old Indian practice of living in sync with nature needs to find a new voice in the modern sustainability movement. India, along with other countries, needs to be on a journey towards a greener future. While the path may have its rough patches, the goal of creating a sustainable world makes it a worthwhile adventure.
– by Pusphendra Kaushal, Program Director-Climate & Sustainability, PreSeed Accelerator