India must institute a robust framework for climate governance
1 month, 1 week ago

India must institute a robust framework for climate governance

Live Mint  

Winters in Delhi crystallize India’s clamour for moving on its climate-action goals: achieving net-zero carbon emissions by 2070, acquiring 500GW of renewable energy capacity and reducing the economy’s emission intensity by 45% by 2030. Use intergovernmental councils: Permanent mechanisms, like a restructured Prime Minister’s Council on Climate Change or an independent Climate Commission, could align efforts across ministries, states and sectors. Use carbon pricing: Borrowing from the EU’s emission trading system, India could adopt absolute pricing mechanisms to send consistent market signals while channelling revenues toward state-level adaptation projects. To become a central player in climate policy implementation and bridge gaps between policy and funding, India’s Finance Commission could expand its mandate to integrate environmental considerations into fiscal policy more comprehensively. In particular, the commission could align fiscal incentives with performance-based metrics, thus helping drive climate action across states and local governments.

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