ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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India and a Carbon Deal

There is now a growing consensus among governments that aggressive climate change mitigation is desirable, though they remain bitterly divided about how the associated burden should be shared. India's stand in climate negotiations, like that of most developing countries, has been largely negative. This paper examines the importance of a cap-and-trade mechanism as the keystone of a global mitigation agreement and estimates the cost of abating carbon in power generation in India, if and when carbon capture and sequestration technology becomes available for deployment. It concludes that India should be ready to reconsider its position and negotiate to join a mitigation treaty, say in 2020, if it can secure a fair deal.

This is a summary version of a longer paper entitled India and Climate Change Mitigation, which will appear in Dieter Helm and Cameron Hepburn (ed.), The Economics and Politics of Climate Change, Oxford University Press. The paper is in memory of Sudhir Mulji. We are grateful to Wilfred Beckerman, Simon Dietz, Cameron Hepburn, Benito Mueller, and Mattia Romani for useful discussions, and to Anjani Kumar, Hemendra Mankad, Arbind Modi, Claire Casey and Allison Carlson for their help. The paper has beneted from comments and suggestions of participants at the New Delhi conference. The views expressed here are personal and should not be attributed to the institutions to which the authors are afliated.

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