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 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 4 July 2023.
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.
Dr. VK Saraswat with ONGC Chairman & CEO Arun Kumar Singh and other dignitaries at the 11th Subir Raha Memorial Lecture
As the world faces the challenges of climate change and environmental degradation, Dr. Saraswat’s address sheds light on the significance of sustainable energy in ensuring a greener and more sustainable future.
The Subir Raha Memorial Lecture has become a hallmark event in honoring the memory of the late Subir Raha, a visionary leader in the energy sector. The lecture brings together distinguished personalities to discuss pertinent issues and provide valuable perspectives on topics of national and global importance. The 11th edition of the lecture series turned to be an enlightening and thought-provoking event, as Dr. Vijay Kumar Saraswat shared his profound knowledge and experiences in sustainable energy.