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Keeping tabs on carbon with an accounting system

  • Published
    5th Oct, 2023

Context:

The "climate polycrisis" is interconnected to climate challenges, advocating for National Carbon Accounting (NCA) as a transformative solution.

Understanding the Climate Polycrisis

  • Definition of Polycrisis: The climate polycrisis encompasses interconnected climate change challenges affecting various sectors and domains.
  • Complex Interconnections: Climate change impacts sectors like energy, infrastructure, health, migration, and food production in India.
  • Importance of Holistic Approach: Addressing the climate polycrisis requires holistic, stakeholder-inclusive approaches focusing on resilience, equity, and justice.

 Need for Carbon Infrastructure and Measurement

  • Importance of Measurement: To address the climate crisis, comprehensive measurement of carbon emissions, from individuals to the nation, is essential.
  • National Carbon Accounting (NCA): Implementing NCA, akin to financial accounting, can revolutionize tracking carbon inflows and outflows.
  • Benefits of NCA: NCA will make carbon visible, enable progressive carbon taxation, and drive predictions and progress tracking towards emission reduction goals.

Carbon Accounting's Potential Impact

  • Reshaping the Economy: NCA can lead to a new economy focused on carbon reduction, with a parallel goal of reducing carbon GDP.
  • Creating New Livelihoods: Adoption of NCA can help India achieve net-zero emissions by 2070 and align development with ecological sustainability.
  • Polysolution to Polycrisis: NCA offers a multifaceted solution to address the complex challenges posed by the climate polycrisis.
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