PM Narendra Modi, India - Replace carbon credit with green credit

Exhorting the Group of 20 (G-20) nations to shift from a system of carbon credit to “green credit”, Prime Minister Narendra Modi on Sunday said the group of economic powerhouses should ensure that finance and technology is available for countries to meet the universal global aspiration for clean energy in their efforts to tackle climate change.

“We in India don’t see development and climate change as competing objectives. This is centred on the belief in the unity of humanity and nature. We have ambitious plans for addressing the challenges of climate change,” Modi told G-20 leaders at the working lunch on development and climate change. “We must meet the target of $100 billion goal per year by 2020. The G-20 countries should increase the share of traffic on public transportation in cities by 30% by 2030. We should shift from carbon credit towards green credit,” he added.

Modi said important moves taken by India to tackle change include: aiming to achieve 175 GW of renewable energy by 2022, cutting subsidies on fossil fuel, a tax on coal and a $3 billion national clean energy fund to promote clean technologies.

Ahead of the global climate change meeting in Paris next month, the prime minister said that with its highly ambitious Intended Nationally Determined Contributions (INDCs), India would remain in step with the world. “We look forward to a concrete outcome in Paris within the framework of the UN Convention on Climate Change. The framework has an appropriate balance of collective action—Equity and Common—but differentiated responsibility and respective capabilities,” he said.

The global climate change negotiations at the Conference of Parties, under UN Framework Convention on Climate Change (UNFCCC), starts in Paris on 30 November where over 190 countries will negotiate a new global climate regime.

The negotiations would be based on INDCs which are voluntary pledges by nations to cut carbon emissions.

Modi said that the G-20 can play an effective role in supporting multilateral goals of increasing research and development to develop affordable renewable energy and stressed that they should ensure that finance and technology is available to meet the universal global aspiration for clean energy. He suggested G-20 countries strive not only to cut the use of fossil fuels but also to change lifestyles.

“Development in harmony with nature is the goal of my proposal to launch, along with the French President Hollande, an alliance of solar-rich countries at the time of COP-21 (2015 Paris Climate Conference) meeting,” he added. The prime minister highlighted that the G20 is still falling short in its efforts to fulfil its last year’s commitment, “to raise our collective GDP (gross domestic product) by an additional 2% by 2018”.

He proposed the G-20 considers building support systems that focus on countries with maximum growth potential, help address specific bottlenecks there and facilitate implementation of country strategies.

“G-20 must continue to focus on infrastructure, as we did in Brisbane in 2014. Clean energy and environment-friendly infrastructure will address both development and climate change. Bridging the current gap in infrastructure finance in the developing countries should remain our key priority. I’m happy with the focus on small holders and food losses in the G-20 Action Plan on Agriculture,” Modi said.

Source : http://www.livemint.com/Politics/V7FI8fMqpRVywH5RS2pl6M/Replace-carbon-credit-with-green-credit-Narendra-Modi.html

SMART GRID Bulletin August 2017


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