Naina Lal Kidwal: India has “a chance to lead” on renewables

Naina Lal Kidwal: India has “a chance to lead” on renewables

The Chairman of HSBC India asks to reduce India’s reliance on dirty coal-fired power in plants, und to expand off-grid renewables.

“All too often, we talk about the costs of climate action: The costs of reducing emissions. … But for a country such as India, tackling climate change promises enormous benefits - for economic growth and productivity, public health and the alleviation of poverty. It is actually a high-carbon economy that costs the most. About one in five premature deaths in India - perhaps 2 million each year - is caused by environmental factors. Household air pollution, from burning solid fuels, accounts for half of these.”

“Our energy choices are also costing us financially. Domestic energy production has not kept pace with growth in demand, which is doubling every 15 years. As a consequence, energy imports have surged.”

“At the same time, distributed, smallscale renewable energy can deliver to rural communities the social and economic benefits of electrification much more quickly than if we rely solely on extending the electric grid.”

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