Since the adoption of the Kyoto Protocol, and through the subsequent annual United Nations Framework Convention on Climate Change tamashas, the climate change debate among both environmentalists and skeptics had left a long trail. The Himalayan blunder churned out by the IPCC (Intergovernmental Panel on Climate Change) on the alleged melting of Himalayan glaciers warmed up the debate since last year much more than even the dreaded global warming. Against this background, Takshashila Academia of Economic Research (TAER) decided to enter the fray, and settled on bringing out a Special Report on Climate Change in its bi-monthly journal Commodity Vision.

This book—Debate Over Climate Change & Global Warming—is a compilation of various articles published from time to time in Commodity Vision, and presents unbiasedly the views of both environmentalists and skeptics. But whether the earth is warming, owing to anthropogenic reasons causing climate change, or not, one can scarcely deny the need to reduce greenhouse gas emissions and mitigate the possible adverse consequences from the suspected climate change and the ensuing supposed global warming.

The book does not seek to end the debate, however. It only aims at generating wider awareness on the issues arising out of the reported climate change, and provoking further fruitful discussion on the expected global warming that many believe, with either ingenious insight or blindly, will bring in soon the day of the last judgement.

Whether that day dawns or not, there is no denying that anthropogenic reasons are causing increasing pollution in cities and towns in developing economies like India. Since, it is indeed naïve to rely on rigorous regulations that hampers development and brings down labour and capital efficiency, and slash living standards, markets for climate change offer the best solution. Of course, markets too need some regulations to prescribe emission and pollution norms. But as Madhoo Pavaskar emphasizes in his Foreword to this book, such regulations will only support markets and assist them in bringing about the much-needed sustainable development of the Indian economy, and avoid the day of the Last Judgement.