21 July 2009

More from India -- Ten Times GDP

The head of the IPCC, Rajendra Pachauri says in the interview above that:
India is in no position to accept caps.
Is this just part of a well-coordinated bargaining position in advance of the Copenhagen talks later this year? No. Research conducted by Dr. Pachauri's group at The Energy and Resources Institute (TERI) concludes that India needs as much as $11.9 trillion to transition to a "low-carbon economy" over the next 25 years. To put this number into context, it is 10 times India's current GDP.

If policy makers believe Pachauri's TERI analysis, then of course India is not going to commit to reducing emissions, unless the developed countries show up with a multi-trillion-dollar+ blank check. These numbers also help to explain Indian skepticism over Hillary Clinton's claim that following a low carbon growth path can help grow the Indian economy.

(Thanks S. M.)