According to reports, Confederation of Indian Industry (CII) along with the West Bengal Pollution Control Board Wednesday organized an interactive session with power producers of the state on Wednesday to get their views on the shortlisted fiscal instruments under the project “Fiscal Instruments for Climate Friendly Industrial Development in West Bengal, Odisha and Tamil Nadu”.
“The thrust of the project is to reduce the carbon dioxide emission by providing several incentives which are the ‘Fiscal Instruments’ to improve the efficiency reduction of carbon dioxide per unit per generation for the identified sectors,” said Chairman, West Bengal Pollution Control Board, Binay Kumar Dutta.
The Chairman informed that these fiscal instruments will be used to attract the industries to adopt betters means of development and to create an environment of competition.
As a part of the project activity, CII completed review of state, national and international policies thereby shortlisting the target sectors which are Power, Industry, Buildings (an attempt to make green buildings), Waste, Renewable Energy, Waste Heat Recovery and developing the total green fund.
Cost benefit analysis for these fiscal instruments have been undertaken by the EUNOMIA, which is also involved in developing the models and all the stakeholders will stand a chance in providing inputs for developing the implementation strategy after the recommendations are finally drafted which is now in its constructive stage.
The project has been undertaken by the West Bengal Pollution Control Board along with CII, Jadavpur University (offering research inputs in Bengal) and Madras School of Economics (offering research inputs in Tamil Nadu).
While West Bengal is aiming for aggressive growth, it intends to achieve the same in “green manner”, added the Chairman.
Following the objectives of the national strategy set by the government to reduce 25% of carbon emission from 2005 to 2020, keeping 75 kg of carbon consumption, CII and West Bengal Pollution Control Board plan to provide these incentives to sector specific industries such as to encourage in modernizing or replacing old and dilapidated plants.
As power is important and at the same time a potential sector for growth and development, “fiscal incentives are meant for reducing carbon dioxide footprint per unit of power consumption,” apprised a CII official.
The West Bengal Pollution Control Board acknowledges the significance of this project and has decided to provide necessary help and support for analyzing the potential of the proposed incentives in order to encourage implementation by industries for ‘green development’ in the State.