Market economy's contribution to environment
Rather than focussing on reducing emissions, India can make a difference by liberalising its economy, improve efficiency, and thereby contribute to a cleaner and safer environment. On the eve of the Copenhagen climate conference, I look at the relationship between economic reforms and energy efficiency in this article, " Earth Story ", published in the Financial Chronicle, on 7 December 2009. With the opening of the climate conference in Copenhagen, India has an opportunity to change the climate of negotiations. Surprisingly, Jairam Ramesh, the minister for environment and forest, decided to play for a draw with his statement in Parliament last week proposing voluntary reduction in India’s carbon intensity. Despite his strong assertion that India will not accept any legally binding international commitment to reduce emission, he proposed to reduce the intensity of the economy by a modest 20 to 25 per cent. Just when the world of climate science was getting shaken by allegati...