Push sustainability goals through regulatory interventions: Montek

 Rules governing energy sustainability should be applied uniformly across firms, as otherwise, it would put some firms at a competitive disadvantage, said Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday.

Addressing a session on ‘Effective Pathways for Partnerships for Sustainable Growth’ at the three-day CII Partnership Summit in Bangalore, Ahluwalia said that the government should take a two-pronged approach to driving sustainability goals through regulatory restrictions placed on firms, and by offering pricing incentives to those adhering to sustainability norms.

Referring to the global issue of carbon emissions, Ahluwalia underlined the need for a global carbon emissions budget allocated in a way that does not unduly increase the burden on developing and emerging economies.

He said that while many nations have desisted from adopting a national sustainability strategy in the absence of a global sustainable strategy, India has been working towards a national strategy for sustainability. The key challenges are to reduce energy intensity per unit of GDP produced and reduce emission intensity per unit of energy produced, he said. To achieve these goals, Ahluwalia advocated both regulatory and pricing interventions by the government.