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A Framework for Climate Change Mitigation in India
Author: Jean Chateau, Geetika Dang, Ms. Margaux MacDonald, John A Spray, and Sneha D Thube
Series:
IMF Working Papers
Volume/Issue:
Volume 2023: Issue 218
Language:
English
Publication Date:
20 Oct 2023
DOI:
https://doi.org/10.5089/9798400247002.001
ISBN:
9798400247002
ISSN:
1018-5941
Pages:
49
Keywords:
Climate; IMF-ENV; India; net zero; climate policy landscape; research department; cost of climate change; emissions intensity; demand management; Greenhouse gas emissions; Renewable energy; Climate finance; Non-renewable resources; Electricity; Global; Asia and Pacific
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Climate change poses challenging policy tradeoffs for India. The country faces the challenge of raising living standards for a population of 1.4 billion while at the same time needing to be a critical contributor to reducing global GHG emissions. The government has implemented numerous policies to promote the manufacturing and use of renewable energy and shift away from coal, but much still needs to be done to reach India’s 2070 net zero goal. Reducing GHG emissions will almost certainly have a negative impact on growth in the short run and have important distributional consequences for individuals and communities who today rely on coal. But with the right policies, these costs—which are non-negligible but dwarfed by the cost of climate change over the next decade if no action is taken—can be significantly curtailed. This paper provides an in depth review of the current climate policy landscape in India and models emissions trajectories under different policy options to reduce GHG emissions.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund