Indian envoy on climate change Shyam Saran has said India, for the first time, is working on a trade mechanism which would oblige a producer to buy credit if he was producing his product in an inefficient way. He was speaking at a CII seminar on climate change on Monday.
The current negotiations on climate change focus on trade and security negotiations. In such an atmosphere, it is unlikely that any deal will come through. The mood is I give as little as possible, and extract as much as possible. This is an adversarial form of negotiation. What will come out then as a result will be the least common denominator. What we need is a collaborative effort with technology and financial resources transfers, he said.
India is working on setting up a trading mechanism directly related to the climate change issue. Currently, we have the Bureau of Energy Effeciency prescribing standards of efficiency for electronic products through the star-rating system. We are now also working on setting up trade mechanisms which will lead a producer to buy credit if he has less energy efficiency in the production process. We are also attempting a similar thing with setting up mileage ratings for automobiles in India, he said.
The Copenhagen summit is expected to be a turning point in climate deals, as the US is likely to announce caps on emission and be part of a global negotiation under the Kyoto Protocol.
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