Economic Survey 2011-12 to devote a full chapter on climate change

Growing concern about climate change and environment will be a point of focus in the Economic Survey, likely to be presented in the middle of March.

With a balance between economic development and environment becoming a challenge for developing economies such as India, pre-budget Economic Survey for 2011-12 would devote a separate chapter on financing climate change.

“This year, we have decided to devote a special chapter on the topic of financing of climate change in the Economic Survey,” chief economic advisor Kaushik Basu said today while addressing a United Nations Development Programme (UNDP) event here.

Speaking at the event, economic affairs secretary R Gopalan said the climate change issue was posing a challenge for the world. “The challenges are both environmental and developmental. Addressing climate change is a challenge for all humanity and it is in our interest that the world community address the issue effectively,” he said.

He said the country will need not only enormous resources but changes in lifestyle, especially among the better-off and livelihood security for the less well-off. Earlier, environment and climate change used to be under the chapter Human Development, Equity and Environment.

In fact, a climate change finance unit was set up under the department of economic affairs of the finance ministry.

The department, in association with the UNDP organised the workshop on climate change financing to bring together policy makers, members of parliament (MPs), professionals and academicians to deliberate on a range of issues related to the subject.

The National Environment Policy, 2006, has attempted to mainstream environmental concerns in the country in all the developmental activities.

According to the 2010-11 survey, India's total carbon dioxide emissions were about four per cent of the global emissions. The survey also showed that it cost India 2.84 per cent of its gross domestic product (GDP) to adapt to climate change. India is a signatory of the Kyoto Protocol but is not obliged to make any cuts in greenhouse emissions.