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Green Jobs: Sustainability with development – EQ

Green Jobs: Sustainability with development – EQ

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In Short : Green jobs blend sustainability with development, driving eco-friendly economic growth. These roles focus on renewable energy, energy efficiency, waste management, and environmental conservation. By promoting sustainable practices, green jobs aim to reduce carbon footprints and foster long-term environmental health.

In Detail : Achieving India’s sustainability goals without sacrificing social and economic development will require a paradigm shift

India is emerging as one of the fastest-growing economies worldwide and is the world’s fifth-largest economy. Even though this growth is commendable, India still needs to create 115 million jobs by 2030—about 16.5 million jobs each year, up from 12.4 million annually in the last decade—to employ the millions of young people entering the workforce every year.

At the same time, the Global Climate Risk Index classifies India amongst the top 10 countries most vulnerable to climate events. Recognising the need to take corrective action at a global level to preserve the environment and reduce greenhouse gas emissions, India has committed to achieving net zero by 2070 and released a low-carbon development strategy. Further, India now stands committed to reducing the emissions intensity of its GDP by 45 per cent by 2030 from its 2005 levels, as per its updated Nationally Determined Contribution.

Achieving these goals without compromising our social and economic developmental agenda requires a paradigm shift that can combine the twin goals of sustainability by reducing emissions and paving the way for economic growth and job creation. Thus, the need of the hour is not just providing jobs or work, but rather about sustainable work. Therefore, a green economy paradigm will see a greater focus on creating green jobs.

The International Labour Organisation defines green jobs as, ‘decent jobs that contribute to preserving or restoring the environment, whether in traditional sectors like manufacturing and construction, or new emerging green sectors such as renewable energy and energy efficiency’. Thus, these are both jobs in emerging sectors and technologies that help reduce the environmental impact of businesses and economic sectors as well as roles in other sectors with the same aim. Green jobs not only help in preserving or restoring the environment and promoting sustainability—fostering the transition to a low-carbon, resource-efficient community—but also support economic growth and job creation in eco-friendly industries and a socially inclusive economy.

Research indicates that India has the potential to create 35 million green jobs by 2047 and unlock $1 trillion in value by 2030, and $15 trillion by 2070, as it implements the road map to become a net zero economy by 2070. Internally, the government is driving several initiatives across energy generation, transportation, and manufacturing. A new framework for a transition to cleaner energy for the period 2021-2030 aims to increase green jobs, boost manufacturing of low emissions products such as Electric Vehicles (EVs) and energy-efficient appliances and promote innovative technologies such as green hydrogen. Furthermore, major policy reforms such as the Production Linked Incentives schemes are set to boost local manufacturing of green products.

This has been reflected in the increasing capital flow towards initiatives promoting green growth. In FY22 alone, India witnessed a record-high investment of $14.5 billion in renewable energy, representing a 125 per cent increase from the previous year. As of date, India is the fourth-highest contributor to renewable energy globally and has set ambitious targets to generate 50 per cent of cumulative electricity requirements from renewables by 2030. While the entire renewable energy sector is experiencing rapid growth, solar energy, wind energy, and biofuels are the major drivers.

Another sector that is expected to add a significant number of green jobs is the EVs sector, which is projected to grow at a CAGR of 90 per cent between 2021 and 2030. The increased production of EVs is projected to generate 10 million direct jobs and 50 million indirect jobs, as besides manufacturing, sectors like after-sales services and the installation of charging infrastructure are vital segments in the value chain.

In addition to renewable energy and EVs, sectors such as e-waste management, industrial and water management, sustainable textiles, and green construction are poised to drive green growth in India, particularly in urban and semi-urban areas. Furthermore, there will be significant job opportunities in sustainable agriculture and food systems, focusing on developing and promoting sustainable farming and food production practices.

In conclusion, green jobs will be a key for India to develop a sustainable, resilient, and inclusive economy while addressing urgent environmental and social challenges.

Anand Gupta Editor - EQ Int'l Media Network