Domestic action on climate change, India's strength: Ramesh

New Delhi, Mar. 15 (ANI): Minister of State for Environment and Forests, Jairam ramesh, on Tuesday said that India's strength lay in encouraging domestic action against climate change.

Addressing the inaugural session of a conclave on Business and Climate Change organised here by the Confederation of Indian Industry (CII) and the ITC Centre of Excellence for Sustainable Development, Ramesh said India's efforts to curb greenhouse gas [GHG] emissions are beset with two unique challenges: Legacy issues of ageing and inefficient plants, and the massive numbers of small and medium enterprises.

He said that these have prevented greater emission reduction targets from being achieved, and are high on the government's priorities.

He said that the government had last year released the status of GHG emissions inventory for 2007, and it was found that the top emitting sectors were power generation [38 percent], industry [23 percent], agriculture [17 percent], and transport and residential sectors [seven percent each].

Ramesh said that India has made a voluntary, unilateral commitment to reduce its emissions intensity by 20-25 percent by 2020 basis 2005, and is all set to exceed that target.

Coupled with the CDP effort by industry, the Government of India is all set to start the Perform-Achieve-Trade [PAT] scheme under the National Mission on Enhanced Energy Efficiency and the Expert group for the Low Carbon Economic Growth for the 12th and 13th Five Year Plans beginning in April 2012 envisages a high growth, with elements of being inclusive and low carbon, leading to a sustainable economy, added the Minister.

He re-emphasised the need to transform India from a buyer of green technologies to becoming a world leader and supplier in the fields of wind and solar energy, coal gasification, etc. besides being a big potential market for environmental goods and services.

He concluded by saying all these were in the self-interest of the country, and effective domestic actions lend the greatest strength to India's leadership in international negotiations.

Setting the context for the session, Arun Bharat Ram, Past President, CII and Chairman, SRF Ltd., remarked the twin issues of climate change and the financial crisis have made all economies struggle for stability and prosperity.

While the Minister has propounded the 3M approach - Measurement, Modelling and Monitoring - to curb GHG emissions, Indian industry has taken several adaptive and mitigative measures to strengthen the government's efforts.

Mark Kenber, CEO, The Climate Group, strongly pushed for creation of prosperous, low carbon economies simply because there is no other alternative.

Business would be interested since this also presents a great opportunity to add to their bottom lines apart from the moral responsibility.

The Indian market for environmental goods and services has a potential for 137 billion dollars in the next seven to eight years; in comparison the world market is potentially 2.2 trillion dollars.

The energy market alone in India has the potential to be worth 25 billion dollars.

The conclave was attended by over 150 top industry leaders from various sectors, and also representatives from government organisations, research institutions and civil society.

It was organised by CII in partnership with WWF-India and CDP, with the support of the British High Commission in India. (ANI)