How is the decarbonisation conversation shaping up at the global stage and how does India compare?
Gilbert: Generally speaking, Europe and the US have taken a slightly different approach. Europe used more of a stick approach with the carbon border adjustment mechanism. The US went with an incentive with the inflation reduction Act, which is about creating jobs with a green component to it.
Right now, unlike three years ago, there's been less attention brought to decarbonisation and the best lens that we use right now is to look at the elections.
And, over 60 per cent of the world has voted or is voting this year. Sometimes, it has historically been part of the election campaign, but it has gone down this time.
Gupta: If you look at India from that (election) perspective, there's always the trade-off between how much you want to develop as a country as well as what should be your efforts on decarbonisation, because there is a cost associated with it. India still, from a developing standpoint, has been making good efforts around it. We are well on track to at least meet whatever we promised by 2030 in terms of renewable targets.
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Denne historien er fra October 19, 2024-utgaven av Business Standard.
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