A Framework for Climate Change Mitigation in India

Jean Chateau, Geetika Dang, Margaux MacDonald, John Spray and Sneha Thube

No 2023/218, IMF Working Papers from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 49
Date: 2023-10-20
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
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