India's Climate Strategy and Global Engagement

India’s Climate Change Policies and Global Positioning

International Treaties and Agreements

• Key Treaties: India has engaged in pivotal climate agreements:
  • 1972: Stockholm Declaration - foundational on environment and development.
  • 1985: Vienna Convention - ozone layer protection.
  • 1987: Montreal Protocol - specific substances for ozone layer.
  • 1992: UNFCCC - framework for climate change negotiations.
  • 1994: UNCCD - combat desertification.
  • 1997: Kyoto Protocol - binding targets primarily for developed countries.
  • 2015: Paris Agreement - global climate action with NDC commitments.
  • 2021: Glasgow Pact - introduction of net-zero commitments.
  • 2022: Sharm el-Sheikh Plan - establishment of a Loss and Damage Fund.

Nationally Determined Contributions (NDCs)

1. Emission Reduction: 33-35% reduction in emissions intensity by 2030 from 2005 levels.
2. Renewable Energy: 40% of power from non-fossil fuel sources by 2030 (dependent on international financial assistance).
3. Carbon Sink: Creation of an additional 2.5-3 billion tonnes of CO2 equivalent by expanding forest cover by 2030.
4. Long-term Goal: Announced net-zero target by 2070 at COP26.

Climate Finance Context

• Developed countries pledged $100 billion/year for climate finance by 2020 to aid developing nations, not fully met until 2022.
• India's Financial Needs: Estimated to be over $100 billion/year, highlighting the disparity in climate finance availability.
• Support for the Loss and Damage Fund initiated at COP27 emphasizing the need for financial mechanisms to address the impacts of climate change.

Domestic Climate Actions

• Government Policies:
  • FAME Scheme: Facilitates subsidies for electric vehicles (EVs).
  • Perform, Achieve and Trade Scheme: Incentivizes energy efficiency in industries.
  • Nuclear Energy Mission: Aims for 100 GW nuclear power capacity by 2047.
• Carbon Market: Implementation of a national compliance carbon market to meet sectoral emissions targets.

Financial Innovations

• Introduction of sovereign green bonds and blended finance funds to route investments towards sustainable activities.
• Cess on Coal: Established a National Clean Energy Fund funded by coal cess for clean initiatives, raised to ₹400/tonne before GST absorption.

Challenges in Climate Strategy

• Reliance on international finance is uncertain; the U.S. withdrawal from the Paris Agreement exemplifies volatile political climate.
• Technological transfer difficulties hinder the realization of NDCs.
• The Green Credit Programme incentivizes afforestation and water conservation.

Research and Development

• Advances in climate-economy scholarship aim to better link climate impacts with economic losses, crucial for deriving monetary compensations.

Conclusion

India is navigating the intersection of climate vulnerability and economic opportunity through proactive policies, international engagement, and innovative financing methods. The strategic focus on both domestic needs and advocating for global climate justice reflects its commitment to sustainable development while fostering its role in the global climate governance landscape. This underscores a need for coherent domestic policies to align with international negotiations that favor the Global South.