SETTING clear regulations on pollution and resource-use encourages businesses to adopt cleaner practices, leading to a healthier environment and potentially lower long-term healthcare costs. In India we need to revisit our Water Act of 1974, Air Act of 1981, last amended in 1987 and Hazardous Waste Act of 1986. We also need a new and effective e-waste Act to prepare India to take the monumental challenge of ewaste management. All these Acts are to be redrafted in line with the current and future requirements of regulating air and water quality.
Providing tax breaks or subsidies for businesses that develop or use eco-friendly technologies can accelerate their adoption and make them more competitive. We need to realise that investment in green incentives is for securing a green future and thus incentives to usher a new Green Revolution 4.0 – this time beyond agriculture – shall prepare Bharat to move forward along the green highways of sustainable development.
Empowering people
Investing in education and training programmes focused on clean technologies and sustainable practices equips the workforce for green economy and fosters innovation. Together, green technologies, green incentives and people propel green businesses and create green and bright future. .
Providing social safety nets like unemployment benefits or training programmes during transition to a green economy can ease the burden on workers and ensure inclusive growth. Many countries in Europe have successfully grown their economies on green highways of growth by reducing emissions through policies, incentives and innovations. California’s cap-andtrade programme has shown how environmental regulations can incentivise clean technologies and economic growth. The European Union has decided to ban production of petrol and diesel cars from 2035.
Challenges remain
Transitioning to a sustainable economy requires upfront investment, and striking a balance between environmental protection and economic competitiveness. Path-breaking scientific research and mind-boggling technology innovations can make it possible. Effective solutions require international collaboration as environmental challenges, like climate change, are global in scope. Cohorts of scientists, cutting across national boundaries, need to be facilitated by policies and collaborative programmes and these need to be supported to achieve the global goals of growth with sustainability.
Overall, achieving all three goals requires a major shift in mindset and a firm commitment and resolve to move along the strategic plans drawn by innovative and enterprising minds and patronised by top leadership. By focusing on innovation, smart regulations, and empowering people, we can build a future where economic prosperity and environmental health go hand-in-hand, and everyone benefits from a rapidly growing economy that India, the Bharat, is.
