IIT Madras Research Paper Suggests Environmental Regulations for Energy Efficiency
Chennai, May 14 (IANS): Researchers from the Indian Institute of Technology (IIT) Madras have proposed environmental regulations to increase energy efficiency in manufacturing.
The suggestion came from research conducted in collaboration with international scientists using the data for 15 years from 2000 to 2015. The study report suggested the need for green domestic policy as well as foreign direct investment to improve energy efficiency in the manufacturing sector.
The study focused on the use of adopted technology, the link between taxation and energy efficiency to promote renewable energy, and credit or tax exemption for companies improving energy efficiency.
The researchers also estimated that participation in export and foreign direct investment will contribute to energy efficiency and improve the economic conditions of the country as such.
Assistant Professor in the Department of Humanities and Social Sciences at IIT Madras, Santosh Kumar Sahu led the research team at IIT Madras. Dr. Ajay Kumar from Emylon Business School, France, and Kim Hua Tan from Nottingham University Business School, UK were the foreign collaborators.
The research team said the study was primarily aimed at determining whether it was right to levy more taxes on businesses to reduce greenhouse gas emissions.