JUST TRANSITION TO GREEN ENERGY - A CASE STUDY ON INDIA AND DENMARK

The transition towards green and decent jobs is a critical imperative for sustainable economic growth and environmental well-being. However, amidst global efforts to combat climate change, India faces the challenge of achieving inclusive economic growth. This paper delves into the juxtaposition of two distinct narratives in the realm of green and decent jobs, exploring the disparities between India and Denmark, an exemplar of sustainable development in Europe. Currently Denmark runs mostly on renewable Energy, around 75% of energy comes from renewable energy sources, with Denmarks trajectory in achieving 100% renewable energy by 2030, it serves as an aspirational benchmark against which we assess Indias CO2productivity. Indias coal dependency extends further due to its massive coal reserves, estimated at around 100 billion tons, primarily concentrated in the eastern states of Jharkhand, Chhattisgarh, and Odisha. It was estimated that 74% of Indias energy generation came from coal fired plants in 2021. Therefore, it is essential to have a just transition which also ensures upskilling and employing workers in green Jobs. Linear regression models for Denmark and India have been constructed to understand the relationship between CO2 productivity and various predictor variables. The model for Denmark exhibits a good fit, implying that all predictor variables collectively explain 95% of the variance in CO2 productivity. The model for India shows a strong fit, indicating that approximately 97.5% of the variance in CO2 productivity is explained by the predictor variables. This suggests that the model is highly significant in understanding the factors influencing CO2 productivity in India. In conclusion it has been recommended that India can incorporate Denmarks policy for a smooth transition towards green energy, using the five Rs, these key elements provide a roadmap for policymakers, governments, and local stakeholders to navigate the complex challenges of economic restructuring and environmental sustainability.