Energy consumption and emissions in the CUIRJG countries and role of PAT in India

Abstract

Global warming and a rise in carbon dioxide emissions has caused countries to revisit their dependence on fossil fuels. In the last two decades, carbon dioxide emissions have been rising, most of which comes from the consumption of fossil fuels. In order to ensure that countries take steps to reverse the alarming trend, the Paris Agreement came into effect in 2016. Out of all the countries that ratified the Agreement, the share of China, USA, India, Russian Federation, Japan and Germany or the CUIRJG countries has been the highest in total fossil fuel consumption and emissions. The paper evaluates the trends energy consumption, energy intensity, carbon dioxide emissions and rate of growth of carbon dioxide emissions in these six countries. Empirical results show that growth of carbon dioxide emissions has been declining, and a rise in energy intensity has led to a fall in growth of carbon dioxide emissions at an increasing rate. Specifically for the Indian case, the focus is on the Perform-Achieve-Trade policy whose objective is to promote energy efficiency in high energy consuming industries and sectors through market based industries.