'tech-transfer', possible hope for greener future

A fortnight later, the green future of the world is going to be decided during the United Nations Framework Convention on Climate Change (UNFCCC) scheduled to take place in Poland. Running in Poznan, Poland, from December 1-12, the talks are a stepping stone towards a treaty to brake emissions from fossil fuels beyond 2012 and support developing countries in climate change’s firing line.

Negotiations of funding for developing countries on account of adaptation against climate change and transfer to cleaner technologies and low carbon investment is the emphasis criteria laid down by India and other developing countries. President Obama is out to become the global leader on climate change but the Poland Meeting is going to be attended by Ex-president George Bush’s negotiation team which was not very keen in GHG emission cuts during last years meeting in Bali.

President Obama, vows to create a new chapter in climate change by establishing strong targets to reduce emissions to 1990 levels by 2020. His statement, "Let me also say a special word to the delegates from around the world who will gather at Poland next month: Your work is vital to the planet.” add in optimism while he promises to re-engage in the negotiations once he takes over the office subsequent to Bush administration.

“Now is the time to confront this challenge once and for all. Delay is no longer an option. Denial is no longer an acceptable response. The stakes are too high. The consequences, too serious!!” States Obama as he opens the green chapter for US. Yet with the economic downfall and tighter budgets, restrain could cause apathetic maneuvering room at the upcoming UN talks.

While India is getting geared up for the forthcoming meeting, recent discussions among stakeholders at World Economic Forum (WEF) India, brings in hope to all eco-concerned citizens as well as the green entrepreneurs of the country. The immense opportunity of boost in clean energy technology and India’s role in carbon exchanges hold a lot of promise for the economic as well as ecologically sustained future of the country.

India is now the 4th largest wind power producer in the world. A recent report by Ernst and Young noted India as the 3rd most attractive country in the world for clean energy investments. Out of the potential 430,000 MW of energy India needs by 2030, up to 50% could be provided by solar power. It is anticipated that Renewable energies are going to create an enormous business opportunities, employment and market as well as decentralized energy options.

Dominic Waughray, senior director at the Forum in charge of Environmental Initiatives said “The business discussions on climate change at this years India summit were very interesting and very positive. The Indian investor and business community clearly sees the massive opportunity to deploy domestic finance and technologies to create ‘leap frog’ clean energy products and services for the population, including the rural poor. With its unique combination of large manufacturers, green tech start ups, venture capitalists, social entrepreneurs and strong rural financing networks, India could emerge as the Asian hub of innovation in the low carbon growth space. We look forward as a next step to bring Indian Government representatives into this discussion.”

This gives hope of intensification and opportunities of green business development and increase in investment on renewable energies.