This is the last time I’ll write about environmental regulations in this thread.
There have been structural changes that weaken the National Green Tribunal’s powers and have rendered state PCBs useless. A step forward for growth, a step back as sustainable citizens.
Here’s a new law enacted in March 2021:
Recent changes in the environment clearance process for India’s most polluting industries will allow them to expand their capacity and change their raw materials without seeking the central environment ministry’s approval.
As long as a company has prior environmental clearance, they can renew their clearance with significantly fewer hurdles.
In 2014, the Centre introduced the concept of third-party inspections and self-certification for consent renewal and compliance monitoring. In 2016, the Centre altered the industry categorisation and moved 84 industry types to less severe categories. Subsequently, in 2017, the Centre recommended that green category industries be exempted from inspections altogether and orange category ones be allowed to have audits by ‘third-parties’.
These third party inspections have been accused of falsifying their reports, covering up the extent of pollution, and green category industries self-certify compliance.
It’s sad watching different wings of the government cripple each other, but it looks like the odds are stacked against the NGT. Government inspections lack funding/technical knowledge, the empty boardroom at the MPCB, legal structures and the ability to influence third party inspections favour the Jubilant group. It’s likely that the Nira issue won’t even make it to the news, and they’ll get their clearance if they throw enough money at it. The government’s vocal targets of carbon neutrality / pollution control are just hollow words. Industries win, investors win, the villagers that depend on these resources, and ultimately our children lose.
Thanks @Tar for searching through the annual reports with me, and everyone else for your opinions on the regulatory risks. @sameernics, this answers your earlier question in full. Will only talk about the management, industry and outlook from now on.
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