Editorial
Published on : Monday 06-12-2021
Doomsday predictions are nothing new to mankind, in fact they are as old.
The Wikipedia points out to polls conducted in 2012 across 20 countries that found over 14% of people believe the world will end in their lifetime, with percentages ranging from 6% of people in France to 22% in the US and Turkey. While most predictions about apocalyptic events ending the world are related to religious beliefs, some are predicated on war and weapons, especially the nuclear winter. But increasingly, it is becoming obvious that if at all there is a real threat, it is from climate change. Excess and unseasonal rains are now a regular feature causing floods even in the hills. So are uncontrolled forest fires and harsh summers. The recently concluded 26th UN Climate Change Conference (COP26) in Glasgow witnessed serious discussions but ended in a compromise of sorts when it came to coal, considered a major pollutant contributing to global warming. On the positive side, India finally made a net-zero commitment by 2070, when most developed countries have pledged to do so by 2050. While critics say it is a case of too little, too late, it is a good beginning.
Electricity, which powers the world, is believed to contribute 40% of all global CO2 emissions through combustion of fossil fuels. 53% of India’s electricity is generated by coal, which explains why we cannot give up the option so easily, forcing the draft change at COP26 Summit from Phase Out to Phase Down with respect to coal. India today is the world’s 3rd largest consumer of electricity and also the 3 largest producer of renewable energy which accounts for 38% of total generation. But the demand is increasing, and will be further intensifying as mobility turns increasingly electric in coming decades. In order to achieve the right balance, electricity generation in future will have to adhere to the 3Ds of Decarbonisation, Digitisation and Decentralisation, which a generous help from technology.
Technology has many solutions but unfortunately, not all are uniformly deployed across industries, due to various reasons. For example the process industry is lagging behind discrete manufacturing when it comes to the implementation of digital transformation. At a time when enterprises need to squeeze out profits in an environment marked by intense competition, rising costs and falling margins, technology alone can help safeguard the bottom line. Digital transformation is a journey and not a destination as pundits point out in their discourses, and halfway measures are responsible for most failures. The Cover Story this month examines some of the points raised in this context are deliberated upon by experts to put matters in perspective.
