Politicians and Twitter warriors around the globe have a new buzzword among them: Net zero. Everyone appears to be keen to state their commitment to net zero, with India providing an outlay of Rs 35,000 crore to achieve energy transition and net-zero objectives in its Budget for FY24, even as the latest and final report by the United Nations’ Intergovernmental Panel on Climate Change (IPCC) warned that current efforts are not enough to curb global warming.
A number of small factory owners and businesses, however, have pointed out that the transition to net-zero emissions will cost them hugely. According to a media report, India has over 60 million microbusinesses and small and medium-sized businesses (SMEs) that employ over 110 million people. Some of them are still recovering from the debilitating effects of the Covid pandemic, and with limited resources available for them to make the green switch, they find themselves left in the lurch.
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