Carbon Finance in Ecological Hot Spots of India Retrospect and Prospects: Through the CSR lense
The global warming phenomena, have led nations across the world, strategize low carbon emission (CE) to meet sustainability goals. Developed nations could not change the inertia of CE in short time span, a balancing act of reducing an equivalent of excess CE, by developing nations could heal the earth. Investments by developed nations in developing countries in low CE technology contributes to the economic status of the latter. Proportionate CE by agriculture and allied activities are observed to be significantly high. Demography of a developing nation is characterized by significant proportion of rural population with agriculture as backbone of its economic activity. Pro-active participation of corporate sector witnessed remarkable initiatives for CE reduction (CER) by the energy sector and other secondary sector activities. Investment for CER in agriculture and allied activities is observed to be less profitable in developing countries, this warrants considerable attention. The construct of this article is based on the positivist approach on need for carbon finance in Indian agriculture , followed by the realism based on secondary data drawn from institutional sources. Based on the observations a model is suggested demanding Corporate Social Responsibility (CSR) intervention. Conclusion is drawn on scope for penetration of carbon funds in agriculture and allied activities in India.
The first section of the article offers a global overview later it narrows down to Indian scenario in retrospect. In the backdrop of the retrospect and present status prospects specific to North-East India are discussed followed by the mitigation measures and conclusion