Moving past aspirations on climate
Business Standard|September 11, 2024
Climate change is a "commons problem".
AJAY TYAGI

The unusually high number of major natural calamities in recent years is a stark reminder of the proverbial "tragedy of the commons".

One of the serious failures of the United Nations Framework Convention on Climate Change negotiations has been the developed countries' failure to fulfil their commitments to transfer finance and technology to developing countries, and not doing enough to sequester their past cumulative carbon emissions. Developing countries, relatively more vulnerable to the impacts of climate change, have largely been left to fend for themselves. With time running out, these economies must quickly firm up their strategies, as there is no time left for blame games.

This column focuses on the need for India to have a quantifiable and monitorable plan, including a financing plan, to meet international commitments and facilitate smooth transition to a low-carbon economy. Let's begin with India's international commitments, the major ones being the reduction of emission intensity of gross domestic product (GDP) by 45 per cent by 2030 compared to 2005 levels, and achieving net zero greenhouse gas emissions by 2070. While 2070 is a bit far away, what about the 2030 GDP emission target? Despite some commentary suggesting that India is well on its way to achieving this target ahead of schedule, the real question is: What exactly is the government's disaggregated, sectoral-level plan to meet this goal? Is there a PERT chart, a programme evaluation and review technique, delineating the timelines for achieving various milestones? What proportion of the target is envisaged to be achieved through administrative fiat like mandating renewable energy based power, increasing forest cover, and prescribing electric vehicles, and how much by market mechanism including carbon credit trading? The aspiration to achieve net-zero by 2070 has to be necessarily backed by a credible, meticulous and well-thought-out plan.

This story is from the September 11, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 11, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
Business Standard

A singular life in plural India

In India today it is difficult to imagine a period of uninterrupted communal harmony, with reports of lynching, hate speech and bigotry surfacing with rising frequency.

time-read
3 mins  |
December 21, 2024
11 dead in fire after LPG tanker crashes into vehicles on Jaipur-Ajmer highway
Business Standard

11 dead in fire after LPG tanker crashes into vehicles on Jaipur-Ajmer highway

An LPG tanker collided with a truck on Friday, sparking a massive fireball that turned a stretch of the Jaipur-Ajmer highway into an inferno in which 11 people were killed and 37 vehicles engulfed in flames.

time-read
1 min  |
December 21, 2024
FMCG firms roll out tailored offerings for golden years
Business Standard

FMCG firms roll out tailored offerings for golden years

Affluent and health conscious, mature consumers are becoming selective about what they buy. Businesses are stepping up to meet their needs

time-read
2 mins  |
December 21, 2024
SPHERES OF INFLUENCE
Business Standard

SPHERES OF INFLUENCE

New districts are being announced more because of demands by influential groups than empirical studies, usually in the buildup to elections

time-read
4 mins  |
December 21, 2024
Accenture Q1 showing a shot in arm for IT stocks
Business Standard

Accenture Q1 showing a shot in arm for IT stocks

Strong US economy bodes well for Indian IT firms, say analysts

time-read
2 mins  |
December 21, 2024
Sun Pharma: Down, but not out
Business Standard

Sun Pharma: Down, but not out

Despite short-term blip, pharma major remains favourite among investors

time-read
3 mins  |
December 21, 2024
Business Standard

Mirae Asset MF's AUM crosses ₹2 trn mark

Mirae Asset Investment Managers (India) on Friday announced that its mutual fund (MF) assets under management (AUM) has crossed the ₹2 trillion mark on the back of 54 per cent compound annual growth rate (CAGR) in the past five years.

time-read
1 min  |
December 21, 2024
Business Standard

PIL in HC seeks action against Amfi for 'misleading' ads

A public interest litigation (PIL) has been filed in the Bombay High Court seeking directions to Securities and Exchange Board of India (Sebi) to revoke the permissions granted to mutual fund body Association of Mutual Funds in India (Amfi) for \"misleading\" and \"deceptive\" advertisement campaigns under the investor education and protection measures.

time-read
1 min  |
December 21, 2024
IPO frenzy: Six issues fully subscribed; IGI at 13% premium on listing day
Business Standard

IPO frenzy: Six issues fully subscribed; IGI at 13% premium on listing day

The initial public offerings (IPOs) of DAM Capital Advisors, Sanathan Textiles, Concord Enviro Systems, Mamata Machinery and Transrail Lighting, whose issues are on their penultimate day, were subscribed between 1.24 and 37.75 times.

time-read
1 min  |
December 21, 2024
Debt funds to deliver best show in 4 yrs
Business Standard

Debt funds to deliver best show in 4 yrs

Strong performance attributed to bond index inclusion and fiscal prudence, say experts

time-read
3 mins  |
December 21, 2024