Global

The Copenhagen climate conference ended on 19 December by taking note of the 'Copenhagen Accord', which was supported by a large majority of Parties, including the European Union, but opposed by a small number. The Copenhagen Accord marks first step towards legally binding global climate agreement.

The conference also mandated the two ad hoc working groups on long-term cooperative action under the UN Framework Convention on Climate Change (UNFCCC) and on further commitments for developed countries under the Kyoto Protocol to complete their work at the next annual climate conference, to be held in Mexico City in November 2010.

The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change, which sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.

A market-based mechanism has been devised in the Kyoto Protocol as means of achieving the targets for all the participating countries. The mechanism includes Emissions trading – known as "the carbon market", Clean development mechanism (CDM) and Joint implementation (JI). These mechanisms help stimulate green investment and help parties meet their emission targets in a cost-effective way.

The features of the Kyoto Protocol are now in place:

1. It sets legally binding targets for emissions of 6 major greenhouse gases in industrialised countries and defines a specific time period for reaching those targets
2. It creates a new commodity (carbon) that can be traded through new international market-based mechanisms
3. It will facilitate the initials of sustainable development while providing additional support to developing nations to achieve this goal

The objective is the "stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.

1. Clean Development: This mechanism allows developed (or Annex 1) nations to receive emission credits towards their own emission targets by participating in certain projects in developing (or Non-annex 1) countries. These Clean Development projects must be approved by members of the Protocol and must contribute to sustainable development and greenhouse gas emission reductions in the host developing country.
2. Joint Implementation: This mechanism allows Annex 1 nations to receive emission credits towards their own emission targets by participating in certain projects with other Annex 1 nations. These Joint Implementation projects must be approved by all nations participating in the project, and must either reduce greenhouse gas emissions or contribute to enhanced greenhouse gas removal through emission sinks (i.e. reforestation).
3. Emissions Trading: This mechanism allows Annex 1 nations to purchase emission 'credits' from other Annex 1 countries. Some countries will be below the emission targets assigned to them under the Protocol and, as such, will have spare emission credits. Under the emissions trading system, other nations may purchase these spare credits and use them towards their own emission targets.

India:

India has undertaken numerous response measures that are contributing to the objectives of the United Nations Framework Convention on Climate Change (UNFCCC). India's development plans balance economic development and environmental concerns. The planning process is guided by the principles of sustainable development. Reforms in the energy and power sector have accelerated economic growth and enhance the efficiency of energy use. These have been complemented by notable initiatives taken by the private sector.

In the last few years several measures relating to environmental issues have been introduced. They have targeted increasing significantly, the capacity of renewable energy installations; improving the air quality in major cities (the world's largest fleet of vehicles fuelled by compressed natural gas has been introduced in New Delhi); and enhancing afforestation. Other similar measures have been implemented by committing additional resources and realigning new investments, thus putting economic development on a climate-friendly path.

The various Government Policies emission reductions & carbon on Climate Change and their salient credits features are:

1. India: Addressing Energy Security and Climate Change:

1. It discusses climate change mitigation & adaptation options for the nation
2. Mitigation options - energy conservation, renewable energy, CDM measures etc
3. Adaptation measures - crop improvement , drought proofing, health care, risk financing etc which take over 2 percent of the GDP

2. India's National Environment Policy:

1. Absolves India of any 'significant responsibility' on issue of climate change
2. Express concerns on trans-boundary pollution issues endorses polluter pays rationale for distorting trade and investment

3. India's Integrated Energy Policy:

1. Focuses on sale of GHG emission reductions & carbon credits

4. Apart from the specific policy documents, various Plan Documents of the Indian Government has observed to:

1. Concentrate on economic opportunities of CDM projects
2. Supports India's position against voluntary GHG emission reduction targets
3. No effort of addressing the trade and climate change linkages

India's insistence on 'common but differentiated responsibilities' across developing and developed nations ignores that the low capita emissions are a result of the fact the majority of the population does not have access to energy. Domestic policies should address the existence of widespread climate injustice in the country existing in the form of a small section of people enjoying and exploiting the resources and a vast majority having no access to it.

India has completed four nationally coordinated assessments of climate change projections, impacts and mitigation; the first being the climate change studies supported by the Asian Development Bank, the second being the ALGAS (Asian Least-Cost Greenhouse Gas Abatement Study) supported by the Global Environment Facility (GEF), the third being climate impact assessment study conducted under the Indo-UK collaborative project and the latest being the National Communications supported by the GEF. Interestingly, the Ministry of Environment and Forests coordinated all the collaborative efforts.

India also has a major stake in the Copenhagen. As Prime Minister Manmohan Singh pointed out it would like to see a "balanced, equitable and ambitious" outcome. This requires a fair burden-sharing and focus on mitigation of emissions, adaptation to climate change and provision of finance and technology to the developing countries to let these actions be implemented.

Dr. Singh made it more than clear that India is interested to see a successful conference on climate change and that it has already initiated unilateral measures to reduce the emissions, under the National Action Plan. He also said that solar energy was being tapped to the maximum extent and several proposals received from different countries were being processed. India's Environment Minister Shri Jairam Ramesh too has made a voluntary offer of reducing the emission levels by 20 percent.