What does the 2016 U.S. presidential election mean for climate change, and how do the candidates stack up? Most of the GOP candidates’ positions boil down to: well-I-am-not-a-scientist-so-I-don’t-know-if-the-earth-is-warming-or-cooling. A republican senator from Oklahoma, Jim Inhofe, brought snowballs to the senate floor to prove that global warming was a myth. As Colbert pointed out, that’s like saying world hunger is over because you ate today.
Indian policymakers have long used India’s poverty as an excuse to not take concrete action on climate change. Limiting carbon emissions is a costly proposition, they argue, and these costs will impede development and push the common man further into poverty. So as we ring in the New Year 2015, in the lofty spirit of resolution-making, goal-setting and ideating, here are the top three revenue-neutral policy suggestions that India can implement to measure and mitigate emissions, and minimize the effects of climate change.
Fossil fuel companies use capital from lenders and investors to discover and extract new reserves; however, if the international regulation limits how much coal and gas can be pulled out of the reserves, the investors’ money will not see the returns. At best, the market will see a strong downward correction as oil stocks plummet. At worst, the market will crash in its entirety.