CARBON CREDITS, INDC AND INDIA

BYSAKTHI SRI A

CARBON CREDITS• A permit which allows a country or

organization to produce a certain amount of carbon emissions and which can be traded if the full allowance is not used.

IMPORTANCE OF CARBON CREDIT• One challenge facing the human race is

that of GLOBAL WARMING.• Carbon credits are a part of international

attempts to mitigate the growth in concentrations of greenhouse gases (GHGs).

• The goal is to drive industrial processes in the direction of low emissions approaches than those used when there is no cost to emitting carbon dioxide into the atmosphere.

WHAT IS INDC• Countries across the globe

committed to create a new international climate agreement by the conclusion of the U.N. Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP21) in Paris in December 2015.

• 196 Countries publicly outline post-2020 climate actions they intend to take under international agreement, i.e. Intended Nationally Determined Contributions (INDCs).

• INDCs will determine whether world achieves an ambitious 2015 agreement and is put on path toward low-carbon, climate-resilient future.

“By next year’s Climate Week NYC we can all look back with pride on what this extraordinary year has set in motion” John A. Kufuor, former President of Ghana and Special Envoy on Climate Change

How does the process work?

• The process for INDCs pairs national policy-setting with a global framework that drives collective action toward a low-carbon, climate-resilient future.

• The INDCs will create a constructive feedback loop between national and international decision-making on climate change.

• INDCs will reflect each country’s ambition for reducing emissions, taking into account its domestic circumstances and capabilities.

• Some countries may also address how they’ll adapt to climate change impacts, and what support they need from, or will provide to, other countries to adopt low-carbon pathways and to build climate resilience.

When will we see them?• All INDCs submitted to the

Secretariat by October 1st will be included in a synthesis report by the UNFCCC Secretariat that will be released by November 1st. The report will reflect the aggregate emissions impact of available INDCs ahead of COP21.

What makes a good INDC?

A good INDC • Ambitious • Transparent• Equitable• Clearly Communicated

INDC INCLUDES• A reference point (for instance, the base

year from which emissions will be reduced)• Time frame• Scope and coverage• Methodological approach towards

calculating emissions• How the contribution is fair and ambitious• How it contributes towards achieving the

objective of the UN's climate convention

“This is the first time you can measure a political promise, and hold the officials accountable”NYC Mayor Michael Bloomberg

INDIA’S INDC• Submitted on Oct 2nd, India’s INDC, 38 paged

document is balanced and comprehensive. • India is keen to work towards a low carbon

emission pathway, while endeavouring to meet all the developmental challenges that the country faces today.

• India has decided to anchor a global solar alliance, INSPA of all countries located in between Tropic of Cancer and Tropic of Capricorn.

“Unto Heaven be Peace, Unto the Sky and the Earth be Peace, Peace be unto the Water, Unto the Herbs and Trees be Peace “YAJUR VEDA

SALIENT FEATURES OF INDIA’S INDC• To propagate healthy and sustainable

way of living based on traditions and values of conservation and moderation. 

• To adopt climate-friendly, cleaner path than one followed by others at corresponding level of economic development. 

• To reduce the emissions intensity of GDP by 33 to 35 % by 2030 from 2005 level.

• To create additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional forest and tree cover by 2030.

• To adapt to climate change by enhancing investment in sectors vulnerable to climate change, agriculture, water resources, Himalayan region, coastal region, health, disaster management. 

• To achieve 40 per cent cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030 .

• To mobilize domestic, new and additional funds from developed countries to implement above mitigation and adaptation actions in view of the resource required and the resource gap. 

• To build capacities, create domestic framework and international architecture for quick diffusion of cutting edge climate technology in India