Experts discuss new climate economy from Indian and global perspective

The Indian Council for Research on International Economic Relations (ICRIER) hosted a two-day workshop on the theme New Climate Economy

The workshop brought together scholars and policy makers who reflected on whether and how climate policy can be made compatible with strong economic performance from both the Indian and global perspective.

Twenty-two distinguished speakers addressed participants during the two-day deliberations, including Lord Nicholas Stern, I.G. Patel Professor of Economics and Government in Suntory and Toyota International Centres for Economics and Related Disciplines, Professor B.N. Goldar of the Institute of Economic Growth, Professor Purnamita Dasgupta, Ford Foundation Chair in Environment and Resource Economics, Dr. Ajay Mathur, Director General of the Bureau of Energy Efficiency and Member of the Prime Minister's Council on Climate Change, Dr. Jyoti K. Parikh, Executive Director of Integrated Research and Action for Development (IRADe), who is also a Member of the Prime Minister's Council on Climate Change and a recipient of the Nobel Peace Prize to IPCC 2007 authors, Nicholas Bianco, head of the World Resource Institute, which is developing programs to reduce greenhouse gas emissions, besides Rajat Kathuria, Director and Chief Executive of ICRIER and others.

During the course of the deliberations, recommendations were made to world governments, business and finance leaders, and to the wider global public, on the actions and policies which could simultaneously deliver better economic growth and address climate-related risks.

A number of research studies and analyses were presented and discussed at the conference.

Apart from the inaugural session, which dwelled on how climate policy can be made more compatible with strong economic performance, besides improved public-private sector participation, there were five other sessions.

They included a discussion on macro models for climate change, which focussed on India facing the challenge of transiting to a low carbon economy, balancing developmental needs with concerns over dangers of climate change; a critical evaluation of the 12th Five-Year-Plan from climate point of view, with a focus on a draft approach paper that stresses on ' faster, more inclusive and sustainable growth, energy demand management and green growth strategies for India, which focussed on steps that needed to be taken to reduce the carbon footprint and actualise low carbon growth in India, low carbon strategies for India in the agriculture and forestry sectors and developing a strategic framework for cities, with a focus on economic and climate performance

The two-day session concluded with an overview of the New Climate Economy's (NCE) work and a vote of thanks by Ian de Cruz, Research Director of the Global Commission on the Economy and Climate and Dr. Rajat Kathuria, Director and Chief Executive of ICRIER.