India's energy consumption to grow 90% by 2050, says CEO of Russia's Rosneft
India's energy consumption to grow 90% by 2050, says CEO of Russia's Rosneft | Company Business News
India's energy consumption to grow 90% by 2050, says CEO of Russia's Rosneft
CEO of state-controlled firm claims aggressive promotion of the ‘green agenda’ means declaring an energy war on majority of world population.
New Delhi: With a growing economy, India's energy consumption is likely to nearly double by 2050, one of the fastest growth rates in the world, said Igor Sechin, CEO of Rosneft, one of Russia's largest oil producers.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”