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The Seen and the Unseen - hosted by Amit Varma
Ep 278: Climate Change and Our Power Sector
May 23, 2022
03:43:47
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Quick takeaways
- The power sector needs systemic reforms for climate change mitigation through renewable energy procurement and decarbonization.
- ESG investments are driving corporate sustainability strategies towards auditable renewable energy sources and greener practices.
- Advocating for market-based reforms like implementing a price system, privatization, and carbon tax to incentivize green practices.
- India faces challenges in moving towards net zero carbon emissions by 2070, requiring a shift away from fossil fuels.
- Implementing a carbon tax reshapes the electricity sector by influencing supply, demand, and pricing dynamics towards environmentally friendly solutions.
- Generational shifts in values and communication dynamics emphasize the need for nuanced understanding and effective communication strategies.
Deep dives
Early Analysis of Indian State and Climate Change
The episode touches on the dual disasters faced by India: the immediate issue of COVID-19 and the ongoing challenges posed by the dysfunctional Indian state, highlighting the alarming statistics related to children's health and malnutrition. The episode underscores the normalization of avoidable tragedies due to the systemic issues within the state and calls for urgent reforms before addressing looming threats like climate change.
Insights on Addressing Climate Change through Power Sector Reforms
A deep dive into a comprehensive paper titled 'The Lowest Hanging Fruit on the Coconut Tree' that delves into combating climate change through power sector transformations. The discussion emphasizes aligning incentives to drive societal and market behaviors towards a cleaner future and stresses the importance of systemic reforms to achieve carbon emission reduction goals effectively.
Personal Journey from Childhood to Career Choice in Law
The narrative reveals a personal journey from childhood experiences in Mumbai and Kashmir to eventual career decisions in the legal field. It outlines pivotal moments like early exposure to diverse cultures, academic pursuits abroad, and the transition to law through academic exploration and practical experiences, shedding light on the serendipitous events that shaped career paths.
Reevaluating Time's Perception and Impact on Perspectives
Changes in perception of time span with age prompt reflection on priorities and happiness. Personal experiences of historical events like India's Independence highlight shifts in perspectives over time. The significance of time's passage, particularly for young individuals, underscores evolving views and generational differences.
Generational Time Shifts and Historical Context Reflections
Comparing personal timelines and historical events reveal proximity to significant historical periods. Insights into evolving generations' perspectives shed light on changing societal norms and shared historical understanding. The perception of time's relevance in different life stages influences critical reflections on cultural shifts and individual experiences.
Navigating Time's Influence on Knowledge and Communication
As time progresses, society witnesses generational shifts in values and perspectives. Evolving communication dynamics and knowledge acquisition challenge conventional wisdom. Exploring the impact of historical events on present-day attitudes, especially for the youth, emphasizes the need for nuanced understanding and effective communication strategies.
Transitioning Towards a Market-Based System
Moving away from centralized control and adopting a market-based approach is crucial for the electricity sector. The rising appeal of renewable energy and ESG investment pressures are causing the best customers to seek cleaner alternatives, leading to a fiscal squeeze on the existing system. This necessitates a shift towards auditable renewable energy procurement and decarbonization to address the changing dynamics.
Impact of ESG Investments and External Pressures
ESG investments are reshaping corporate strategies in favor of sustainability. Companies are facing demands for auditable renewable energy sources, incentivizing a transition towards greener practices. Pressure from global influences and certification standards is compelling private entities to prioritize renewable energy sources, driving a shift away from traditional fossil fuel-based power generation.
The Need for Comprehensive Reforms
Advocating for a complete overhaul of the current system, the recommendations include implementing a price system, full privatization, and introducing a carbon tax. These reforms will incentivize green practices, promote competition, and enhance efficiency in the electricity sector. By embracing market mechanisms and sustainable energy sources, India can align with global trends and address pressing environmental concerns effectively.
The Shift Towards Net Zero Emissions in India
India's ambitious goal of achieving net zero carbon emissions by 2070 is a significant challenge due to the drastic transformations it requires, such as moving away from fossil fuels. The episode discusses the pressure on India to reduce carbon emissions and proposes implementing a carbon tax as a more efficient and cost-effective solution compared to centrally planned instructions.
Reshaping the Electricity Sector Through Carbon Tax
The podcast highlights the role of a carbon tax in reshaping the electricity sector by influencing both supply and demand aspects. By taxing fossil fuels and transitioning to electric solutions, there is a shift towards a more environmentally friendly and market-driven system, allowing for flexible pricing to incentivize behavioral changes in production and consumption across the country.
To fight climate change, we need to reform the power sector. Right now, it's dysfunctional. Akshay Jaitly and Ajay Shah join Amit Varma in episode 278 of The Seen and the Unseen to share their roadmap for change. Also check out: 1. Akshay Jaitly on Twitter, Linkedin, Nicheless and Substack. Ajay Shah on Twitter and Substack. 2. The lowest hanging fruit on the coconut tree: India's climate transition through the price system in the power sector -- Akshay Jaitly and Ajay Shah. 3. Akshay Jaitly and Ajay Shah's aggregated pieces on energy and climate. 4. The Time To Privatise India’s Electricity Sector Is Now -- Akshay Jaitly and Ajay Shah. 5. Root cause analysis for the electricity crisis -- Akshay Jaitly and Ajay Shah. 6. In Service of the Republic — Vijay Kelkar & Ajay Shah. 7. The Art and Science of Economic Policy -- Episode 154 of The Seen and the Unseen (w Vijay Kelkar and Ajay Shah). 8. Other episodes of The Seen and the Unseen with Ajay Shah: 1, 2, 3, 4, 5. 9. We Are Fighting Two Disasters: Covid-19 and the Indian State -- Amit Varma. 10. Naren Shenoy's fancy dress competition. 11. Narendra Shenoy and Mr Narendra Shenoy -- Episode 250 of The Seen and the Unseen. 12. Amitava Kumar Finds the Breath of Life -- Episode 265 of The Seen and the Unseen. 13. The Chronicles of Narnia -- CS Lewis. 14. Charlie and the Chocolate Factory -- Roald Dahl. 15. Alistair MacLean and John Steinbeck on Amazon. 16. Grapes of Wrath -- John Steinbeck. 17. Of Mice and Men -- John Steinbeck. 18. André Gide and Albert Camus on Amazon. 19. Another Country -- James Baldwin. 20. Warren Mendonsa Plays the Universal Pentatonic -- Episode 273 of The Seen and the Unseen. 21. Jonathan Haidt on Amazon. 22. Kashmir and Article 370 -- Episode 134 of The Seen and the Unseen (w Srinath Raghavan). 23. Hind Swaraj -- Mohandas Gandhi. 24. Politics and the Sociopath -- Amit Varma. 25. Google Scholar. 26. Roam Research and Zettelkasten. 27. Discom Privatisation Challenged (Dec 2020) -- Akshay Jaitly. 28. Regulation in India: Design, Capacity, Performance -- Edited by Devesh Kapur and Madhav Khosla. 29. The Use of Knowledge in Society -- Friedrich Hayek. 30. United Nations Framework Convention on Climate Change. 31. History of UN Climate Talks. 32. The Evolution of the UNFCCC -- Jonathan Kuyper, Heike Schroeder and Björn-Ola Linnér. 33. The COP List. 34. The Road From Rio (1993) -- Prodipto Ghosh and Akshay Jaitly. 35. William Nordhaus versus the United Nations on Climate Change Economics -- Robert P Murphy. 36. Hotter than the human body can handle: Pakistan city broils in world’s highest temperatures -- Ben Farmer. 37. Price Controls Lead to Shortages and Harm the Poor -- Amit Varma. 38. The Tragedy of Our Farm Bills -- Episode 211 of The Seen and the Unseen (w Ajay Shah). 39. Lessons from an Ankhon Dekhi Prime Minister -- Amit Varma. 40. Apocalypse Never: Why Environmental Alarmism Hurts Us All -- Michael Shellenberger. 41. Nuclear Power Can Save the World — Joshua S Goldstein, Staffan A Qvist and Steven Pinker. 42. Kim Stanley Robinson on Amazon. 43. Death at Intervals -- José Saramago. 44. The Shape of Water -- Andrea Camilleri. 45. The Terracotta Dog -- Andrea Camilleri. 46. 12 Bytes: How artificial intelligence will change the way we live and love -- Jeanette Winterson. 47. The Singularity Is Near -- Ray Kurzweil. 48. Report to Greco -- Nikos Kazantzakis. 49. Seven Brief Lessons on Physics -- Carlo Rovelli. 50. Michael Dibdin on Amazon. This episode is sponsored by Knest Manufacturers, India's largest and the world's fastest-growing formwork company, which has made real estate development in India more efficient, sustainable and scalable. This episode is co-sponsored by CTQ Compounds. Check out The Daily Reader and FutureStack. Use the code UNSEEN for Rs 2500 off. Check out Amit’s online course, The Art of Clear Writing. And subscribe to The India Uncut Newsletter. It’s free!
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