Mumbai: Emission Commitments pose medium risk to BRICS (Brazil, Russia, India, China & South Africa) nations and can cause energy shortages, technology gaps and thus pose a risk to medium-term growth and inflation, Deputy Governor Michael Patra said.
Comments come when India is under pressure globally to reduce dependence on coal power plants and cut emissions.
Patra said this in his main address at the conference on the ‘growth and development in the economic field of BRICS held by Delhi Economic School (DSE) and Indian Statistics Institute (ISI), released by RBI on Monday.
“Medium-term challenges for BRICS emerge in the context of climate risk and emissions commitment, which can cause energy shortages, technology gaps and hence pose risk to medium-term growth and inflation, especially for countries with total big emissions,” said Patra.
” increased inflation risk, “said Patra.