The IPCC report indicates that the climate crisis will disrupt India’s developmental future, and undercut the prosperity of its people in the long run.
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A comprehensive climate law with a green vision can serve as the definitive mechanism whereby India’s future is secured in the decades to come.
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The recent IPCC report signals the urgent need for India, as others, to consider a climate law. However, an enabling law that cradles research and prompts investment in green technology might be far more effective in securing India’s long-term economic prosperity than a hastily enacted net-zero or carbon-capping law, which might prove ineffective, unenforceable, or debilitating.
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How can states be enabled to transition toward climate-resilient and low-carbon societies? How can they be empowered to experiment and learn from each other? Which mechanisms will enable slow-moving states to catch up with those taking climate consequences more seriously?
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In addition to targets and policies, India needs to deepen and enhance systems of governance for the climate crisis, which include dedicated organisations, policy frameworks, capacities, and financing mechanisms. In a new policy brief, we lay out an institutional architecture capable of crafting such low-carbon development pathways.
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In India, a focus on development pathways requires three steps: sectoral transition plans for key areas of the economy; strong institutions for climate governance; and economy-wide targets that emphasise near-term actions.
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States making net zero commitments throws open the possibility of new institutions that quickly funnel economies into low-carbon trajectories. So could these carbon regulators become the central banks of the future?
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To tackle climate change, not only does India need to pivot into a low-carbon future, it also needs to step up as a leader of climate-vulnerable countries.
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