In anticipation of the upcoming United Nations Climate Conference (COP28) in the United Arab Emirates (UAE), Saugata Saha, President of S&P Global Commodity Insights, has articulated a profound shift in the global energy discourse and said the path to global energy transformation starts in India. Three years ago, the dialogue predominantly focused on energy transition, but Saha highlighted that it has now evolved to prioritize energy sustainability and affordability.

Scheduled to take place in Dubai from November 30 to December 12, COP28 is set to be a pivotal event where world leaders will convene to address pressing climate challenges.

"Three years ago, the conversation was purely about energy transition. However, what we have seen over the last three or four years is that the conversation has moved towards what I call the energy trilemma," remarked Saha. "You want to solve three things simultaneously – energy security, sustainability, and affordability. All three of them are extremely important, especially for a developed country or a developing country."

Saha underscored the critical importance of addressing these three facets concurrently, recognising their significance in the context of both developed and developing nations.

Moreover, he outlined a transformative path to a global energy transition that emanates from key players, notably India and China. Saha stressed the necessity for these large countries to adopt pragmatic approaches to managing emissions, emphasizing that the true adversary is not energy but emissions.

“We feel the path to global energy transition goes through India, China and many of these large countries. So how these countries come around to a pragmatic way to manage emissions is going to be important.

"The enemy is not energy; the enemy is emissions," Saha declared. "So we need to get to a path where we can phase out or phase down over time energy sources which are associated with high emissions," he said.

Watch the accompanying video for the entire discussion

First Published:Nov 29, 2023 8:36 PM IST