The World Council for Corporate Governance is organising the Global Convention on Climate Security from June 12 to 14 at Palampur. Experts from across the globe would ponder on why the climate crunch is more catastrophic than credit crunch.

The other major topic would be as to how climate change can prove an as opportunity for creating employment.

Madhav Mehra, president for the corporate governance, said developing technologies to cap the emissions was an opportunity for the Indian industry to fight the global recession and generating employment. “For instance, our agriculture waste of 600 million tonnes can produce 80000 MW of electricity, that is, over 60 per cent of our installed capacity. But we need technology to turn it into cellulosic ethanol,” he said.

“India has a crippling energy deficit. As studies by IPCC show coal-fired power generation is most inefficient besides being harmful to environment and climate change. There is no way India can meet its energy requirement through conventional sources. Our only sensible and viable alternative is to go aggressively for solar technology and subsidise each youth willing to harvest it,” he said.

Colossal advances are being made in R&D in solar energy worldwide. Despite the cash constipation, huge funds are available for renewable energy resources. India despite its specific advantage in solar energy figures nowhere in the big league of solar power players. China is far ahead. Our installed generation capacity is 130,000 MW. China’s capacity is more than five times 800,000 MW. Solar energy is our only hope to bridge this yawning gap, he said.

Chief Minister Prem Kumar Dhumal is scheduled to inaugurate the convention. The Golden Peacock awards would also be given on the occasion for environment management, eco innovation, occupational health and safety and combating climate change.