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India to become Net Zero Carbon emission by 2070, but will the rich nations foot the bill for the changeover?

The top 10 industrialized countries produce 90% of the Carbon emission but the climate change associated with the greenhouse gases are borne by the poorer nations.

The COP26 climate crisis summit in Glasgow is continuing with a lot of banter but very little in substance. India Prime Minister Narendra Modi has announced that India will achieve Zero Carbon emissions by 2070. This is two decades more than the tipping point of 2050 which scientists have predicted will be the threshold for the world to achieve Zero Carbon emission if the world is to be saved from a catastrophic apocalypse. However, there has been no commitment from China and Russia has pledged to become Net Zero Carbon emission by 2060.

However, the targets have riders attached to them. The top 10 industrialized countries produce 90% of the greenhouse gases but the climate change associated with the greenhouse gases are borne by the poorer nations. Having achieved prosperity, the industrialized nations want the poorer nations who are still using fossil fuels for their energy needs to stop using carbon fuels.

Fossil-based fuel prevalent in poor countries

In India, fossil fuels constitute a giant 75.38% of the total electricity produced in the nation. The economy of states like Bihar and Jharkhand is closely linked to coal and its associated industries. The changeover from fossil-based fuel to renewable energy sources is going to cost a mind-boggling amount of money and the question is – Who will foot the bill? The loss of employment associated with the fossil fuel industry is also a question that needs to be addressed.

The hypocrisy of the rich industrialized nations come to the fore at the Climate summits which involve a lot of blusters but little in actual action on the ground. Tesla Chief Elon Musk was a big Cryptocurrency advocate but stopped accepting Bitcoin as payment for its electric cars. The reason Elon Musk gave was Bitcoin mining involved huge power consumption which led to huge ecological damage. However, his company is happy to use cheap electricity produced from fossil-based power plants to produce the much-touted Tesla Electric Car.  

The arrogance of Capitalists

This is the same hypocrisy that Elon Musk exudes is adopted by the rich nations. When David Beasley, executive director at the World Food Programme (WFP) said that billionaires like Elon Musk and Jeff Bezos can end World Hunger, Elon arrogantly replied that he is ready to sell Tesla and donate its proceed but wants to know how the WFP will use the money to end hunger.

This is the attitude of the rich nations who have plundered the natural resources and now wants the poorer nations to remain in their present state and stop using fossil fuels. This will destroy their economy, render millions unemployed but will keep the Earth fit for the lucky few who will live to enjoy the fruits of the toil of the poor.

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