'India should accept emission cuts only by 2040'
"India should commit itself to legally binding emission cuts only by 2040 if it wants to keep its growth intact and protect its poorest people," said Arvind Panagariya, noted Indian American economist and former chief economist of Asian Development Bank in an interview with Express.
CHENNAI: "Any agreement will have to leave sufficient room for developing countries to conquer the challenges of climate, as they exist today. This means giving them space for sustained rapid growth for two to three decades. Under the 'special and differential treatment' principle, allow developing countries longer phase out, which would mean, for example, reprieve from mitigation to China until 2020, to India until 2030/2040 and to sub Saharan Africa for longer while developed nations should comply immediately," he said.
India's national action plan on climate change (NAPCC) would adversely impact the country's growth trajectory due to high cost of emission reduction technology. "Subsidies provided for Jawaharlal Nehru National Solar Mission and for cap and trade policy in pollutionintensive industries under the NAPCC will bear a heavy impact on the State exchequer," he said.
Speaking on the possible outcomes of climate change conference of parties (CoP16) to be held in Cancun in November, Panagariya said the event may turn out to be a dud due to the lack of political will from developed nations.
Source: expressbuzz.com