Green bonds should come to India, will improve sustainability: Ex-Karnataka IAS officer K Jairaj
BENGALURU : Former Additional Chief Secretary K Jairaj on Wednesday said that green bonds, popular in foreign countries, should be introduced in India. This is important for sustainable development.
He said that these bonds are like debentures and help improve the sustainability score of companies and achieve environmental goals, which are now mandatory under corporate social responsibility activities. They are in vogue abroad but are yet to come into India, he added.
He was speaking on the sidelines of the release of the maiden Sustainable Development Report, 2021, by Karnataka Governor Thaawarchand Gehlot. The report was prepared by OP Jindal Global University in the city. Jairaj said that the money obtained under green bonds will be used for environmental, social and governance factors in companies.
Jairaj also pointed to the recent sustainable developmental goals report, for the state government’s energy department. He said while the aim of the government is to reduce fossil fuels and increase usage of renewable energy, the implications are difficult as there is a policy dilemma.
To increase renewable energy, fossil fuel usage will have to be cut down, and to achieve this, the existing power stations will have to be shut and grid capacity enhanced and changed. But Karnataka has a resource crunch. The government will need Rs 30,000 crore for renewable energy generation and management of 5000 MW. So annually, around Rs 3,000 crore will be needed.
Former MP M V Rajeev Gowda, who was present, said it is not difficult for organisations and educational institutions to conduct similar studies and set goals. The resources need to be harnessed. In the US, there are environmental audit sessions.
Environmental education, interdisciplinary, practical education and cross-cutting expertise would also be a part of the upcoming National Educational Policy (NEP). But its implementation will take time because changes in the existing academic curriculum are yet to be done, he added.
Governor Gehlot said that sustainable development is the aim of the Union government and Karnataka is doing a good job on this front. To ensure that goals set by the central government are to be achieved by 2030 in the COP-26 summit, universities must also play their role.
Rising carbon emissions, global warming and extinction of species is a matter of concern. The shortage of oxygen during the pandemic has shown the need for environmental protection, so every one should work towards it.
Source: newindianexpress
