INDIA PM WANTS NEW ENERGY

India must invest in green technology – PM Singh
Krittivas Mukherjee (w/Alistair Scrutton and Alex Richardson), August 18, 2009 (Reuters)

"India's prime minister said… the country must invest in its own environmentally friendly technologies, the latest in myriad pledges from one of the world's biggest polluters to fight climate change.

"Manmohan Singh's comments underlined how India was seeking to undercut demands by rich nations for it to do more to curb carbon emissions. New Delhi has constantly resisted emissions targets, saying it will take its own unilateral action to cut pollution."

Big plans. (click to enlarge

"Global negotiations for a new U.N. agreement on climate change are stuck on the question of how much cash or technology rich nations will provide the poorer countries.

"Singh's comments also signalled that India, the world's fourth-largest polluter, was willing to put in money to develop expensive clean technologies to supplement what it might get from rich countries…[because of their] decades of industrialisation that is blamed for climate change."

Big bucks. That's $104 billion. But whose $104 billion? (click to enlarge)

"He said India's energy use will rise sharply in the coming decades as it tries to lift a multitude out of poverty, but stressed a different development path must be walked…India has already announced several steps to fight global warming, such as ramping up solar power investment, expanding forest cover and bringing in domestic energy efficiency trading…

"With about 500 million people, or about half the population lacking access to electricity and relying on dirty coal to expand the power grid, India's booming economy has huge potential to leap-frog to a low-carbon future…But it says it needs a little hand-holding by rich countries to keep it on the right path."