Developed countries must tax coal for climate fund
April, 20th 2016
Ahead of signing the Paris climate agreement in New York later this week, Union Environment Minister Prakash Javadekar, said New Delhi would exhort developed countries to take a cue from India and impose a tax on coal production to the tune of $6 per tonne (approx. Rs 390/tonne). This would kick-start the annual $100 billion (approx. Rs 6.5 trillion) fund promised by developed nations to tackle climate change, he said.
“India has shown the way and we have imposed a tax on coal. If the West were to follow we would easily meet the $100 billion target,” said Mr Javadekar, who will join representatives from 130 countries including China, Brazil and South Africa — known as the BASIC — in signing the agreement, that was negotiated upon by 195 countries last December.
The countries had then committed to ensure the globe’s temperature was well below 2C higher than pre-industrial levels.
Highlighting the actions taken by India on climate change after the Paris Agreement, Mr Javadekar said 175 GigaWatt (GW) of renewable energy has been targeted by 2022, out of which 40 GW had been installed by March 2016. The government has decided to leapfrog from Bharat Stage IV (BS-IV) to Bharat Stage VI (BS-VI) emission norms by April 1, 2020, thereby skipping BS-V emission norms altogether.
Other steps included a decision to promote blending of ethanol with petrol and use it as an alternative fuel and a tax on sports utility- and-diesel vehicles, according to Mr Javadekar.
Nearly 93 million LED bulbs have been distributed till April 12, 2016, which saved nearly 33.3 million kWh every day.
130 countries are expected to sign the Paris agreement in New York later this week, which is a precursor to them ratifying — or implementing their declared plans — the agreement.