- The report claims that if the measures specified under the LiFE initiative are adopted globally, consumers could save around USD 440 billion in 2030, or about 5% of total fuel spending that year.
- The initiative’s implementation in India could also help reduce global carbon dioxide (CO2) emissions by over 2 billion metric tonnes by 2030.
- The LiFE initiative was introduced by Indian Prime Minister Narendra Modi in 2021 at the 26th Conference of the Parties to the UN Framework Convention on Climate Change.
- The initiative aims to promote sustainable lifestyles to address environmental degradation and climate change. It is based on the Sustainable Development Goal’ goal 12 of the United Nations, which focuses on sustainable consumption and production.
- According to the report, India, the third-largest national market for renewable energy, is 10% more energy efficient than the global and G20 averages, with various policies already integrated into its energy transition strategy.
- The IEA believes that the G20, which represents 80% of the global GDP, 75% of global trade, and 60% of the world’s population, can play a crucial role in adopting policies outlined by the LiFE initiative.
- The measures under the initiative can be categorised into two groups: behavioural change and sustainable & efficient consumer choices.
- According to the report, governments may directly mandate or influence 60% of the emissions savings through LiFE measures.
- The Intergovernmental Panel on Climate Change (IPCC) has found that limiting warming to 1.5°C requires global greenhouse gas emissions to peak before 2025 and be reduced by 43% by 2030.
- To achieve net zero carbon dioxide emissions globally, it is necessary to reach this goal in the early 2050s. According to the International Energy Agency’s “Renewables 2022” report, global renewable power capacity is expected to double over the next five years, increasing by 2400 GW between 2022 and 2027.
Question:
Q.1 The LiFE initiative was launched by which country?
a. Indonesia
b. India
c. USA
d. Australia
a. Indonesia
b. India
c. USA
d. Australia
