Climate change policy for India
While the global environment waits for the world to reach some form of agreement on climate policy, developing countries such as India are entering a phase of higher economic growth. The decisions on investment in energy systems that will be made in India in coming years will have an important impact on global climate change over the coming century.
This paper explores how action could be undertaken in India today, in a way that commits India to longer run goals for greenhouse emissions but does not raise the short run cost to the development process in India.
The approach proposed is a modification of the McKibbin-Wilcoxen Blueprint for climate policy, which relies on establishing property rights and markets in both short term and long term emission permits.