Low-carbon economy

The growth of economies today, generally, pertains to high industrial growth and modern luxuries dependent on high usage of coal and other fossil fuels, inadvertently leading to high carbon emissions. The Low Carbon growth is a novel concept that challenges this linkage, and promotes economic development based on industrial energy efficiency and low carbon technologies. Thus aiming to reduce the carbon-footprint and sustain economic growth in an ecologically sustainable model. 

So, what is a low-carbon economy? A Low-Carbon Economy (LCE) is an economy that adopts the Low Carbon Growth path and minimizes the release of greenhouse gases (GHG) without compromising on the development. But this transition to a low-carbon economy demands an economic and social transformation which is both exciting as well as challenging. This transition in turn would balance the three core dimensions of the energy trilemma (choosing between profit, people and planet) and forms a strong basis for prosperity and competitiveness of individual countries. But India too like other countries is facing this trilemma on the prioritization of energy goals which needs a path of low carbon economy. 

Governments and businesses have been making significant strides in this regard to research and develop a low carbon path driven by long term resource saving and immediate cost reduction. So what is creating the need for such attention?