Greening Growth

Context:

In developing countries, the government face challenges between economic development and environmental protection, particularly in light of recent amendments to environmental regulations in India.

Environmental Regulations and Development Dilemma:

• Economy vs Environment: Developing countries grapple with the challenge of balancing economic development with environmental protection, particularly evident in the need for regulation amidst climate change concerns.
• Tilted interest: Environmental Clearance (EC) under the Environment Impact Assessment (EIA) rules, aimed at striking this balance, has faced criticism for leaning too heavily towards industry interests.
• Loopholes: Loopholes introduced in EIA regulations, such as the indefinite moratorium on compliance and ex post facto clearances, have raised concerns about the dilution of environmental safeguards.

Friction in Environmental Governance:

• Contentious clearance rules: Environmental clearances for business and infrastructure projects have long been contentious, with shifting perceptions of government policies on environment and development.
• Declining ranking at global level: The weakening of environmental regulations, including the EIA and the National Green Tribunal, poses significant challenges and has led to India's low ranking in global environmental indices.
• Required attention: Urgent attention is needed to address the erosion of environmental safeguards and the need for a balanced approach that integrates environmental concerns into development agendas.

Moving Towards Sustainable Development:

• Addressing the need: Embracing environmentalism as integral to development and vice versa is essential for sustainable progress.
• Opportunity: India has the opportunity to lead in integrating climate change and sustainability into the business landscape.
• Framework: Achieving this requires a robust policy framework that fosters business growth while ensuring rigorous assessment of project impacts and closing regulatory loopholes.