NEW DELHI, APR 28: Indian companies today expressed their inability to take part in the massive "green revolution" in the world which aims at reducing carbon emissions. According to the Indian companies, nearly 80 per cent of the emissions polluting the global environment were a result of pollutants discharged by developed countries. Only the remaining 20 per cent came from developing countries and hence the onus for improving the situation lies squarely with the developed world.According to R V Shahi of the Bombay Sub-urban Electricity Supply (BSES) said, "developed countries have been responsible for the bulk of emissions of green house gases". He however added that "given the large potential for economic growth in developing countries, bulk of future emissions will be accounted for by developing countries as they move towards higher standards of living".Hemant Joshi, executive director of Crisil said that to modernise all the coal-based plants in the country to the less polluting gas-based powerplants, would require $ 20 billion over the next 10 years. Only modernising coastal power plants would require $ 3 billion. To improve the losses on transmission and distribution of power which in turn would reduce the burning of coal would require investment of $ 7 billion.To generate power from non-conventional energy sources, would require another $ 8 billion. Further, all the coal based power plants supply power to cement, steel and paper plants which are energy guzzlers. These plants should also be modernised in order to reduce coal burning requiring another $ 20 billion.Thus the total investments required for all these would be to the tune of $ 60 billion, funds for which would have to come from developed countries. The UN sponsored Clean Development Mechanism (CDM) offers the Indian industry the potential for mutually beneficial co-operation with developed countries. Under the CDM, developed countries with a commitment to reduce emission of greenhouse gas emissions will invest in developingcountries using their resources, particularly advanced technologies. Shahi said the developed countries will thus be able to meet part of their carbon reduction commitments at relatively low cost while developing nations will benefit economically by having access to efficient technologies with innovative financing arrangements.However, Shahi said that the working of the CDM has not been made clear yet and to ensure that the mechanism proves a fair bargain, all its features should be made transparent.K Roy Paul, additional secretary, at the environment ministry, said that the greenhouse problem has been projected as a battle of wits between the developed and developing nations. One has to look beyond that to arrive at a practical solution, Paul said.
