India takes unique path to lower carbon emissions

With four times the population of the United States, an economy growing 8-9 percent a year and surging energy demand, India's race to become an economic power has propelled it to No. 3 in the list of top carbon polluters.

India's greenhouse gas emissions will keep rising as it tries to lift millions out of poverty and connect nearly half a billion people to electricity grids. But it is also trying to curb emissions growth in a unique way, fearing the impacts of climate change and spiralling energy costs.

The government is betting big on two market-based trading schemes to encourage energy efficiency and green power across the country of 1.2 billion people, sidestepping emissions trading schemes that have poisoned political debate in the United States and Australia.

Source: Reuters