A Green Emerging Market: India’s Experiments with Market Based Mechanisms for Climate Mitigation

India is the fourth largest emitter of greenhouse gases in the world. After Copenhagen in 2009, India announced that it will be working to reduce voluntarily the carbon intensity of its emissions by 20–25 % against 2005 levels by the year 2020, while maintaining a growth rate of 8 %. In 2011–2012, it introduced a number of innovative initiatives to help reach that goal. This paper will discuss three of these measures. Two of these schemes are market based initiatives in the field of energy: the first is called “Perform, Achieve and Trade” and is aimed at improved energy efficiency; the second scheme promotes increased use of renewable sources of energy through trade in renewable energy certificates. The third scheme is a pilot market based emissions trading mechanism that seeks to reduce the levels of particulate matter emissions in three leading industrial states in India.

India is the world’s fourth largest emitter of greenhouse gases after China, the United States and the European Union. While India is a signatory to the Kyoto Protocol, it does not of course have any emission reduction obligations. Nevertheless, after Copenhagen in 2009, India announced that it would work to reduce voluntarily the intensity of its emissions by 20–5% against 2005 levels by the year 2020, while maintaining a growth rate of 8%.
In pursuit of this goal, in 2011–2012 a number of innovative initiatives were launched in India. This paper will discuss three measures designed to put India on the path to low-carbon growth. Two of these schemes are market based initiatives in the field of energy: the first is called “Perform, Achieve and Trade” and is aimed at improved energy efficiency; the second scheme promotes increased use of renewable sources of energy through trade in renewable energy certificates. The third scheme is a pilot market based emissions trading mechanism that seeks to reduce the levels of particulate matter emissions in three leading industrial states in India.
These schemes are national schemes and are not part of the flexible mechanisms of the Kyoto Protocol. While all three schemes are market based, they differ from each other in how they are designed, their purpose, and manner of function. This paper seeks to provide insight into these innovative experiments in India.



Copyright: © Lexxion Verlagsgesellschaft mbH
Quelle: Issue 4/2012 (Dezember 2012)
Seiten: 12
Preis: € 41,65
Autor: Anjum Rosha
David Freestone

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