18 November 2016, Marrakesh:
As India progresses towards meeting its Nationally Determined Contributions (NDCs), various aspects related to upscaling of climate-friendly initiatives of the private sector, including Carbon Markets, need to be analysed. This session aimed to discuss the private sector initiatives on climate change and the role of carbon market. It also touched upon key challenges for moving towards a low-carbon economy. Ms Soma Banerjee, Principal - Energy & Infrastructure, Confederation of Indian Industry moderated the session and introduced the panelist while setting the context.
During the panel discussions, it was highlighted that India has sufficient experience in various carbon market mechanisms/instruments both nationally and domestically. On the domestic front, India has a trading mechanism called as Perform, Achieve and Trade (PAT) for all the energy intensive sectors and has delivered substantial results. On the part of discouraging carbon fuels, it has introduced Carbon cess on mining of every tonne of coal. This was introduced at the rate of Rs 50 per tonne with effect from 1 July 2010, through the Union Budget 2010-11, on coal produced in India or imported in India. This is in line with the principle of "polluter pays", which is the basic guiding criteria for pollution management. The cess was revised to Rs 100 per tonne in the Union Budget for FY15 and again doubled to Rs 200 in the subsequent year. In the last Budget for FY17, it was rechristened as Clean Environment Cess and again doubled to Rs 400 per tonne of Coal, Peat or Lignite.
Mr Karan Mangotra highlighted the need of a common platform so as to ensure that green credit value is seamlessly estimated through various processes adopted by different trading schemes. Whereas, Mr Mahendra Singhi mentioned that coal is bound to remain as a major source of energy in the overall energy basket of India but, we as a nation, are committed to continue our journey to become more carbon efficient. He mentioned that CII members can play an active role in adopting low carbon growth path. Strategies for next 5 to 10 years need to be designed in a proactive manner to reduce carbon intensity of Indian Industry.
Shri Ravi Shankar Prasad, Joint Secretary MoEFCC, said that this Pavilion represents the hopes and aspirations of 1.2 Billion People of India and it will showcase India’s India’s path to a sustainable and balanced future during the length of this pivotal COP meet.
1. Power evacuation. 2. Renewable purchase obligation: Regulatory system to impose RPOs need to be explored to reduce such risks. 3. An equal stress to all types of renewable need to be given.
Mr Mishra mentioned the efforts of Indian Industry in terms of R&D done in-&-for India, has been proving beneficial for the wind energy sector which has increased its plant load factor from 12 % in 90s to 35% as on today. The final note highlighted that the above has made the sector more financially viable.
8th November 2016
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20th November 2016
India’s INDC is prepared in a balanced and comprehensive manner to reflect all issues of:
Mitigation,Adaptation,ClimateFinance, Technology transfer and Capacity building while simultaneously endeavoring to meet all the developmental challenges that the country faces today.