Macroeconomic implications of energy transition pathway

COP28 emphasized that transitioning away from fossil fuels in energy systems is required in a just, orderly and equitable manner. Green transition is an imminent pressure on the economy as the global community is facing the challenge of sustainability, energy security and environmental protection. The target to achieve low carbon development growth for India requires investment in renewable energy resources, without hampering the economic growth. Recently, India’s energy policy path is adopting transition from fossil fuel energy sources to non-fossil fuel energy sources. The transition should also be aligned with India’s long-term development goals. The project aims to assess the economic implication of gradual transition to low carbon economy aligned with India’s developmental goals and to understand the framework and impact of alternative pathways of reaching the low carbon targets.