With India looking at a $1-trillion investment in the infrastructure sector during the Twelfth Plan period, the challenge of a low-carbon economy would become tougher, since the sector contributes 58 per cent to the country’s total greenhouse gas (GHG) emissions. Technology and finance are central to the interventions, which are needed to propel a low-carbon infrastructure growth.
While acknowledging the challenges, the India Infrastructure Report 2010, released today, pointed out that moving away from a high-carbon infrastructure to clean technologies had the co-benefits of improvement in cost competitiveness and productivity.
“With 85 per cent of the country’s infrastructure yet to be built, there is an opportunity to build and not commit the mistakes (of high emissions) made by the developed country,” said former power minister and member of Parliament Suresh P Prabhu, while unveiling the report prepared under the aegis of 3-i Network, a collaborative effort of IDFC, Indian Institute of Management, Ahmedabad, and Indian Institute of Technology, Kanpur.
Prabhu said it was the state’s responsibility to build infrastructure and the government needed to create conducive atmosphere to enable increased private investment in infrastructure building. He stressed on creating a global regime, supported by the developed world, for technologies which could be used in reducing emissions in any part of the world.
A large part of the government’s effort towards low-carbon growth is directed in the power sector, since electricity contributes 38 per cent to the gross emissions of 1.9 billion tonnes of carbon dioxide equivalent. This is being done through energy efficiency programmes and promotion of renewable energy use through the National Solar Mission and Central Electricity Regulatory Commission’s guidelines on renewable power obligation.
“Today, renewable energy accounts for five per cent of power generation, but the need to promote it is not really just climate change but also reduction in import dependence,” said CERC Chairman Pramod Deo.