Blue Promises, Grey Realities

As the world pivots from 'green' to 'blue' growth, India faces a paradox - harnessing its vast ocean wealth without triggering a modern-day 'Halahal'

- DIPANKAR DEY

Since the early 1990s, a debate on the cause of global warming has presented the concept of 'sustainable development' and 'green economy.' Burning of fossil fuels like coal, petroleum, and natural gas has been primarily responsible for warming the global temperature during the postindustrial revolution phase of economic growth. This narrative of sustainable economic development for a 'green economy' dominated the political agenda of the major developed countries, led by Europe.

Surprisingly, despite spending billions, the global economy still runs on 'dirty fossil fuel' and to date, global politics revolves around oil and gas. The recent conflict between India and China, with the USA on the purchase of Russian crude, is a case in point. The 'green economy' has failed to meet the expectations of its promoters.

The energy-hungry world burnt 1.5 per cent more fossil fuel in 2023 compared to the previous year. Fossil fuels comprised around 82 per cent of the global energy mix in 2023. In 1990, the share of fossil fuel in the energy mix was nearly the samearound 80-82 per cent. The colossal failure of the promoters of the 'green economy' got an official assertion when the International Union for Conservation of Nature (IUCN), on October 16, adopted Motion 042, making it the first multilateral body to explicitly name fossil fuel production as a threat to nature. IUCN called for governments and civil society to confront the root causes of the intertwined climate and biodiversity crises through supply-side measures. It also encouraged exploration of new international instruments, including a potential Fossil Fuel Non-Proliferation Treaty, to address what the IUCN calls a “critical gap in global governance” on fossil fuel supply.