As the COP-26 conference gets underway in Glasgow to review climate change mitigation efforts, India has proposed new rules to reduce its emissions, such as setting a minimum share of renewable energy used by industries. . These proposals are designed to promote green hydrogen as an alternative to fossil fuels. On this front, in particular, the country is confident of making great progress on the back of large private investments.
However, other countries are keen that India declare a target year for carbon-emissions neutrality and prepare a comprehensive plan for that. New Delhi considers such a target premature at this time. Moreover, the promises of transition funding have also not been fulfilled. Wealthy nations haven’t kept the end of the 2015 Paris bargain. They must stick to their transfer commitments if India is to plan properly. Still, as the world’s third-largest emitter, we must step in with other pollutants if the world is to stand a chance against its warming crisis. Realism must certainly lead our way, but it must also include charting a net-zero pathway for itself with an active market for carbon credits under a cap-and-trade system that plays the role of an emissions-compressor.
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