It is a very interesting debate that appeared in ET. Take a look at it here.
Some salient points worth our noting from this debate:
First of all, we can examine emerging world markets in carbon credits and create appropriate structures to enable our industry to take advantage of similar market opportunities. Perhaps we can think of a country’s CDM fund on the lines of EU emissions trading scheme with state and sector and specific emission allowances over and above which credits need to be purchased. This would develop a domestic market for carbon credits.
Secondly, opportunities for better use of by-products and some productivity increasing win-win situations like the one shown by Shell in
Third, alternative sources of energy can be encouraged by planning for integrated supply of power from non-conventional sources along with traditional sources. Regulations for fixed quotas from renewable sources can be put in place. In fact, the Electricity Act, 2003 enables this. This should be vigorously pursued.
Fourth, planning for coastal cities needs to take into account impending possibilities of a rise in sea levels.
Lastly, the dire predictions made by IPCC with regard to declining crop productivity in South and