Green policies are being stopped in their tracks
With a global increase in environmental consciousness and pressures mounting on governments to boost green initiatives, more and more countries have pledged to pursue environment-friendly policies. However, rapid commitments to decarbonisation and even more rapid attempts to implement policies, could be problematic, especially to developing countries.
Sudden drives for decarbonisation with insufficient foresight have hurt businesses and investments. China’s ceiling on coal production ignored the profit motive, which triggered an energy crisis in September. Sri Lanka’s push for a complete switch to organic farming, which created food inflation, leading President Gotabaya Rajapaksa to impose an economic emergency, displays how insufficiently planned government-led green policies, particularly by disregarding private economic interests, could backfire.
Given mounting pressures on countries to decarbonise, it is tempting for countries to make token gestures to placate their opponents and establish their international reputation. However, many countries around the world have aimed for ambitious and rapid targets without laying the groundwork for it, or having the ability to put them into place. In 2015, India had promised a target of 175 gigawatts of renewable energy by 2022 but its current capacity is around 100 gigawatts. It is highly unlikely that it will meet this target in a few months. This brings into question whether all the targets and pledges made at COP26 will turn into actionable outcomes.
This is profoundly difficult, due to the long-drawn nature of environmental regulations and rapidly changing climate conditions. The next step ahead is for governments to introduce inclusive planned phased blueprints based on scientific measures. Without them, and without considerable financial and technical support, the developing world will find it difficult to achieve environment-friendly targets.