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Taking a mid-year review on state of climate policy and carbon market with the India Carbon Market Conclave 2012

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Sustainability Outlook
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It is that time of the year when the heat on the Climate Change negotiations will set the ball rolling, as nations gear up towards taking a significant step forward in curbing emissions to tackle climate change. We now have a road map and an ambitious timetable, though the precise destination remains rather unclear. The Durban outcome must be commended as one that contributed to keeping the climate change negotiations process alive as the intense and long-drawn negotiations in Durban ended up in two major sets of outcomes. Firstly, the Durban negotiation was able to operationalise many of the Bali and Cancun decisions. Amongst these the most important ones were those relating to the Green Climate Fund (GCF) and Technology Mechanism. These decisions addressed to some measure the long pending issues of finance and technology that were agreed in the Bali Action Plan. Durban was able to restore trust as it established the second commitment period under the Kyoto Protocol because of the stand taken by the BASIC and other likeminded countries. As part of India’s commitment to the multilateral process, it was agreed in Durban to launch a process whose objective is to develop a protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all parties. This process was enshrined in the Adhoc Working Group on the Durban Platform for Enhanced Action, in short the “Durban Platform”. The significance of this decision lay in the fact that it ensured that the arrangements are established under the Convention, which implies that the arrangements are not only applicable to all parties, but that these should also be anchored in the principles of the Convention. The outcomes of Durban provided the much needed hope to the international community. In many ways the Durban deal is a snap-shot of the changing global climate politics and reflects the growing determination of countries to act collectively.

Taking stock of the negotiations, FICCI in its sixth annual India Carbon Market Conclave will deliberate on some very important themes that will gauge the direction of international climate dialogue and India’s domestic agenda. The Conclave will provide a peak into India’s National Action Plan on Climate Change with particular reference to the key missions. India believes that climate change represents manifold challenges that require extraordinary responses. India’s National Action Plan on Climate Change represents the nation’s vision for sustainable development and the steps it must take to realize it. The Conclave this year will also deliberate on nationally appropriate mitigation actions (NAMAs) that are based on the country’s own national circumstances and the priorities of developing countries themselves. Eminent speakers at the conclave will take stock of the international negotiations and deliberate on the state of play from Durban to Doha. The future outlook of the CDM and the new market mechanisms for offsetting the carbon emissions will be discussed. At Durban, the COP adopted the decision, in which Parties welcomed the report of the Transitional Committee for the design of the GCF and approved the governing instrument for it. The conclave will have a session deliberating on how this fund needs to be utilized for low carbon development in developing countries, considering all stakeholder benefits and how countries can gain from it.

Businesses today have an important role to play in addressing the challenge of climate change. Effective business strategies interwoven around well thought out engagement of technological, human and capital resources backed by strong government policies will result in sustainable solutions for climate change mitigation. It is imperative for businesses today to realise that investing in a clean and green economy in the long run would make good business sense. The Conclave will have a Business Leaders’ Session focusing on their outlook on Low Carbon Growth and how they see green growth and sustainability as an integral element of their business strategy in the decade ahead.

The India Carbon Market Conclave - the largest platform to engage with the Indian carbon market - will be held on September 12-13, 2012 at Hotel Shangri-La in New Delhi. The Conclave is India's flagship event in the carbon market space, organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with the Ministry of Environment & Forests (MoEF), Government of India, The World Bank and International Emissions Trading Association (IETA). This year FICCI has a new partner – The Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) of the Federal Republic of Germany, supported by GIZ India. Key experts – national and international, will be at the Conclave expressing their views, experiences and getting us up-to date on the global happenings in the sector.

Over the years, India Carbon Market Conclave has seen participation from over 30 countries, with representation from diverse stakeholders of the Carbon Market, including developers, validators and verifiers, consultants, financial institutions, the key Government Negotiators, state and central government ministries, Bilateral and Multilateral organizations, and research institutions. The Conclave with its quality participation and key stakeholder presence, acts as an important sounding board for industry and government.

Author: Sustainability Outlook
Calais Document Category: Technology
Country: India