Abstract

In the recent past, renewable and alternate energy technologies, policies and strategies have achieved an increasing momentum in most of the developing countries for mitigating global climate change due to the alarming rise in Green house gases. Energy, environment and sustainable development have become a major concern in the developing world due to its impact on climate change, economic growth and ecological conservation. In a few generations, mankind is in the process of exhausting fossil fuel reserves that were generated over several hundred million years. Sustainable development of the country is possible only through the balanced technological development, together with switching on to the renewable energy and the recycling techniques. The growth rate of Asian economy has outstripped the global growth rate. Asia, particularly India and China are achieving accelerated economic growth especially by exploring the new and renewable energy technologies. India has to achieve 15% of renewable energy potential by 2012 which will be only 12% according to the current growth rate in order to cope up with developing countries like China and other global economies. The theme of the paper is to formulate a global energy policy for finding new strategies for sensible utilization and conservation of depleting conventional energy resources, and exploring new possibilities and applications of renewable and alternative energy techniques. This paper analyses the energy policies of the leading Economies to form a global energy policy for catalyzing synergy between sustainable economic development and the enhanced demand for energy requirements and to maintain harmony with the nature by mitigating climate change.