Govt clears energy efficiency mission

This is the first time that India,which has consistently opposed all attempts to specify a target for its emission cuts,has put a figure on the carbon emission reductions.

“The implementation of this mission will be a powerful signal to the international community that we are willing to contribute in a significant manner to meet the global challenge of climate change,” Prime Minister Manmohan Singh was quoted as having said at the meeting. “Our success in reducing the energy intensity of our growth will also reduce the carbon intensity of our growth. This will have a beneficial impact on our emissions trajectory,” he said.

At the heart of the energy efficiency mission is the ‘Perform,Achieve and Trade’ (PAT) mechanism which would assign energy efficiency improvement targets to the country’s most energy-intensive industrial units. These industries would be awarded energy savings certificates,called ESCerts,for the improvement achieved in excess of their targets. Then,in a sort of internal energy market,these industrial units would be allowed to buy and sell ESCerts to meet their targets,the statement said.

Other mission initiatives include the expanded use of the carbon market to help achieve transformation towards more energy-efficient equipment and appliances and the creation of two funds to help channel investment into energy-efficient projects,it said.