The below paragraphs are from an op-ed published by The Economic Times website on December 3, 2021, and are reprinted with permission.

On November 11, at the recently concluded UN Climate Change Conference (COP 26) in Glasgow, the Beyond Oil and Gas Alliance (BOGA) was launched: a diplomatic initiative led by Denmark and Costa Rica to bring together ambitious governments committed to phasing out oil and gas production. In the aftermath of COP 26, India has been singled out for its resistance to international pressure on coal. But what stance would India adopt on the new oil and gas focused alliance?

To answer this question, we first need to understand why BOGA was created, and what it aims to do. The alliance is driven by the scientific consensus that there is no room left for fossil fuel expansion. This was a central focus of the Production Gap report, co-sponsored by the UN Environment Programme (UNEP), which found that countries plan to produce 120% more fossil fuels by 2030 than would be consistent with limiting global warming to 1.5°C. Similarly, IEA analysis has highlighted that no new development of fossil fuels is possible if we are to reach net-zero carbon emissions by 2050.

Read the full op-ed at The Economic Times website.

This originally appeared as an op-ed in The Economic Times on September 28, 2021. The introductory paragraphs are reprinted below with permission.

In recent months, India’s biggest private sector players have made ambitious clean energy commitments. Reliance India Ltd announced clean technology investments worth Rs 75,000 crore; ArcelorMittal pledged Rs 19,000 crore for solar power; and Adani Green raised Rs 9,570 crore in debt financing. Backed by India’s billionaires, these announcements herald a new chapter of clean energy expansion in our country. But why aren’t our energy public sector undertakings (PSUs) also at the forefront of India's energy transition?

PSUs continue to play a vital role in India’s energy sector and the wider economy. Energy sector PSUs account for seven of India’s 10 Maharatnas — firms that have an annual turnover of more than Rs 25,000 crore. Over 50 per cent of the country’s power generation is publicly owned. Just two PSUs produce around 90 per cent of the country’s coal output. Publicly-owned oil marketing companies are responsible for 57 per cent of refining and almost all retail distribution. Since independence, these companies have been vehicles of nation-building, creating millions of jobs and generating revenue for the government. But as the world shifts away from fossil fuels, India’s energy majors, unfortunately, continue to invest in them.

Read the full article in The Economic Times.