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Realistic neutrality

1 min read . Updated: 31 Oct 2021, 10:57 PM IST Livemint

Realism must attend our path ahead, sure, but this should include charting out net-zero pathways for ourselves, with an active market for carbon credits under a cap-and-trade system playing emission-compressor

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As the CoP-26 conference gets underway in Glasgow to review climate change mitigation efforts, India has proposed new rules to lower its emissions, like setting out a minimum share of renewable energy to be used by industries. These proposals are designed to promote green hydrogen as an alternative to fossil fuels. On this front, especially, the country is confident of making major strides, thanks to big private investments.

Other countries, however, are keen that India declares a target year for carbon-emission neutrality and puts out a comprehensive plan for that. New Delhi considers such a goal premature at this juncture. Moreover, pledges of transition funding have failed to materialize. Rich nations have not kept their end of the 2015 Paris bargain. They must be held to their transfer commitments if India is to plan properly. Yet, as the world’s third-largest emitter, we must move in lockstep with other polluters if the globe is to stand a chance against its warming crisis. Realism must attend our path ahead, sure, but this should include charting out net-zero pathways for ourselves, with an active market for carbon credits under a cap-and-trade system playing emission-compressor.