Ministry of Environment, Forest and Climate Change stated in his key note address at an interactive session on COP 21, organized by FICCI that his Ministry will look into FICCI’s suggestion of constituting a Working Group to enable the government and private sector work closely in climate policy and planning. He further highlighted that “the INDCs (Intended Nationally Determined Contributions) of India contains a set of both opportunities and obligations for the Indian Industry”.
He noted that government’s involvement in the International Solar Alliance and Mission Innovation, forged on the sidelines of COP 21, will unlock private sector opportunities in clean energy. He encouraged the private sector to actively participate in the second phase of PAT scheme on energy efficiency, increase investments in solar manufacturing, and management of municipal solid waste). On the issue of clean coal technology, he alluded to Coal India Limited’s plans of setting up 20 coal washeries in the near future.
FICCI organised the Industry Interactive Session on ‘COP 21 Outcomes and Implications for India’ to highlight that Indian business and industry has to play a crucial role if India has to realise its ambitious climate change adaptation and mitigation goals as outlined in its Intended Nationally Determined Contributions (INDCs). Mr Ravi Shankar Prasad, Joint Secretary, Ministry of Environment, Forest and Climate Change, and Mr Tarun Kapoor, Joint Secretary, Ministry of New and Renewable Energy (MNRE) also made observations during the session. Mr Ravi Shankar Prasad, in his address highlighted that the INDCs will be impinging upon the industries post 2020 and that the government may soon roll out a roadmap for INDCs. He noted an important achievement by India in realising 12% reduction in GDP emissions intensity (2005-2010) of the targeted 25% reduction (by 2020 from 2005 levels) as per India’s voluntary pledges. Mr Tarun Kapoor announced that the RPO targets will be increased to 8% in the upcoming National Tariff Policy Amendment.
He emphasised that the International Solar Alliance will open up opportunities for Indian solar players to set up shop in other countries and that the Indian solar landscape will witness a surge in installed capacity after the end of FY 2015-2016. Dr. Didar Singh, Secretary General, FICCI in his opening address suggested five key areas which can be taken up by the MoEFCC to effectively engage the private sector in the climate action. This included, firstly, setting up a Working Group to look at industry’s role in INDCs’ implementation; secondly, defining inter-ministerial roles for INDC implementation; thirdly, capacity building of institutions and industry; fourthly, prioritising key climate friendly technologies; and fifthly, mobilizing private and public capital towards low carbon growth. Mr Kolluru Krishan, Chairman, CVC India Infrastructure Pvt. Ltd, noted that the Paris Agreement will unleash opportunities for private sector in smart cities; energy efficient irrigation pumpsets; clean cooking devices, engines running on high octane fuel, waste management and agroforestry.
He also called on government to facilitate credit risk guarantee facility, especially for small and medium scale enterprises (MSMEs) which can help them adopt climate friendly technologies. Mr Ardeshir Contractor, MD & CEO, Kiran Energy, expressed the importance to look into innovative financing instruments in countries like Brazil and China for replication in the Indian context. Referring to FICCI’s involvement in the Green Infrastructure Investment Coalition, he noted that it could find ways to channelize large pension funds to infrastructure projects. Mr L Rajasekar, President, Ultratech Cement, emphasised that government policies can go a long way in promoting use of waste as resource by the cement industry. He also added that capital will be crucial to scale up private sector participation in second phase of the PAT scheme.