On a sustainable growth curve

It is said that objects in the rear-view mirror are much closer than they appear. This analogy can be aptly used to describe the impending doom that climate change poses to our environment and the life forms it supports. The world is aware that very large and rapid reductions in carbon emissions are essential to reverse runaway climate change and avert resulting severe weather events, inundation of coastal areas, spread of diseases, failure of agriculture and water supply, infrastructure destruction, forced migrations, political upheavals and international conflict. India, as with the rest of the world, faces the twin challenges of energy security and climate change, and the act of balancing the two. The need of the hour is to draft policies that will address these issues and develop sustainable practices for development.

One of the approaches that is being considered is the introduction of carbon-tax. The rationale for a carbon tax is simple: the levels of CO₂ already in the Earth’s atmosphere and being added daily are destabilizing established climate patterns and threatening the ecosystems on which we and other living beings depend. Carbon forms the backbone for all fossil fuels without exception. It is therefore only logical to have a tax system which taxes people based on the amount of carbon content in the energy sources they use. Very little taxation of carbon is presently in place in the world. Nevertheless, stiff carbon taxes are being regarded as essential for combating the climate crisis that gravely threatens humankind and other living things.

The impacts of carbon taxes can be ameliorated by reducing other indirect taxes and in providing tax breaks and shelters/tax holidays for prioritised socio-environmental priorities listed below:

1. Alternate energy sources – Solar energy

Solar energy is destined to be the future of our power requirements. However, a major problem associated with solar technology is its energy efficiency (or rather its inefficiency). But newly developed thin-film modules have been shown to have a conversion rate of nearly 20% of total radiation absorbed. Therefore, photovoltaic-based solar energy is definitely on the high-priority list for further exploitation. India enjoys a high annual solar power yield of 1800 Kwh/ Kw(peak), hence cost of power will be reasonably low (Rs. 6/Kwh-daytime). A further advantage that solar energy has over conventional sources is that it can follow a decentralised path i.e. conventional energy production like refinery-scale production, though more cost-effective when centralised, carries the burden of additional transport/transmission costs, which can be avoided in the case of solar energy production, which can be easily decentralised.

2. Carbon sequestration through reforestation

Carbon sequestration through reforestation of wastelands is one way to mitigate the effects of climate change. One such programme is already in the planning stages. One million hectares of reforestation is to take place on a per year basis over the next decade, the idea being that greater the area of land under forest cover, higher the carbon sequestration, and lesser the rain water run-off. If the reforestation is carried out as planned, land under forest cover could be increased by 4% over the next 15 years. According to calculations, this could mean a 11% sequestration of carbon emissions in 15 years. Given the federal nature of India, states which achieve larger carbon sequestration could be rewarded. In addition, forests could be a source for timber and could also be opened for controlled grazing of cattle. Obviously, pursuing reforestation efforts is a win-win policy for the government.

3. Population growth stabilization

All of the above approaches were to reduce dependency on fossil based fuels and controlling of emissions. However, there is one problem that developing nations like India and China face more than other nations – a high growth rate of population. As long as our population growth is high, the demand for energy is going to increase. Population growth can be reduced through positive measures, such as accelerated education, female literacy growth, increase in basic health services, reduction in neonatal mortality coupled with economic incentives for a one-child policy.

If all of the above-mentioned policies are implemented, India will definitely become a cleaner, greener and sustainable economy in the future.