Published in Power Line, May 2010. When other developing countries were squabbling for equitable distribution of emission rights, India's announcement of a voluntary cut of 20-25 percent in emission intensity by 2020 compared to 2005 levels came as a surprise. India has been persistent in not accepting any emission reduction targets against the backdrop of not compromising its economic development. Even if the declaration is not binding, additional cost impacts to achieve this cannot be sidelined. ICF International’s Yasir Altaf and Pramod Kumar Singh examine the emerging opportunities in renewable energy certificate (REC) mechanism to facilitate capacity addition.
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