Green Growth Strategies for Oil And Natural Gas Sector in India
Green Growth Strategies for Oil And Natural Gas Sector in India Introduction Resource limitations, price volatility, and the global climate catastrophe require a thorough review of current resource- and carbon-intensive development plans. Asia has been the engine of recent development, with a compound annual growth rate (CAGR) of 7.5 percent from 1990 to 2012. It is expected to expand at a pace of 5.1 percent through 2040, with India leading the way at a rate of 6%. (IEA, 2014). In order for the area to maintain the high levels of economic growth needed to meet development objectives while also addressing climate change, regional governments must devise ways to enhance energy resource efficiency. According to projections, increasing energy efficiency will account for 80% of the decrease in global carbon dioxide (CO2) emissions (IPIERCA, 2007). As a result, increasing efficiency and investing in natural capital should become the driving forces for long-term economic development (UNESCAP...