Though multilateral efforts on sustainable development and climate change have led to several positive outcomes, says the Economic Survey for 2012-2013 but not without warning that more resources were required to meet targets under the National Action Plan on Climate Change (NAPCC).
Sustainable development and climate change was introduced as a chapter in the Economic Survey last year for the first time.
A sum of Rs 230,000 crore would be required to meet the targets under the NAPCC, the Economic Survey for 2012-13 has noted, adding that additional steps suggested under the 12th Five Year Plan and other environmental initiatives would require yet more resources.
“The challenge for India is to make the key drivers and enablers of growth; be it infrastructure, the transportation sector, housing, or sustainable agriculture,” it read.
The report warns that though the government will need to deploy public funds to meet the needs of the eight missions under the NAPCC, the global community – the developed countries especially – have failed to so far cough up or commit adequate finances to meet the challenge for the world to fight off climate change and help developing countries achieve sustainable development.
“This leads us to the most vital issue of raising additional resources for meeting the need of economic growth with greater environmental sustainability. India could do much more if new and additional finance and technology were made available through the multilateral processes. There is a case for greater cooperation, action, and innovation, provision of finance and technology for developing countries and institutions and mechanism for capacity building,” it read.
The survey report also critiques the discussions on financing ‘inclusive green growth’ at the G20 forum indirectly. “At the group meetings India has too often found rich countries pushing for private financing of the war against climate change instead of securing public finance. It notes that the group has ‘stark disparities in terms of incomes, stages of development as well as respective per capita emissions of carbon dioxide,” it read.
The chapter warns that countries would find private investments would only be attracted to the market for lucrative green technologies but would be missing from critical areas like adaptation to climate change, which are a priority for poor countries.
The report says, “Considering the large resource requirement arguments in favour of setting up a National Green Fund to finance public and private sector projects aimed at protecting environment in the 12th Five Year Plan objectives have found support.” The survey says the fund could also become the medium to route international finance through.
The survey read, there are also programmes for non-timber forest produce-based livelihood, promotion of organic and low-chemical agriculture, and increased soil health and fertility to sustain agriculture-based livelihoods. These schemes help mobilize and develop capacities of community institutions to utilize natural resources in a sustainable manner and their potential can be further developed.