This paper deals with the present levels of CO, emissions from coal fired power stations of the Gangetic region which potentially enhance the impact of climatic change globally. The paper also focuses on the prospects for reduction of these CO, emissions. The discussion is based on the information gathered from two selected thermal power producers in India - the National Thermal Power Corporation (Government sector) and the Calcutta Electric Supply Corporation (Private sector), The paper also discusses the usage of renewable energy and coal cleaning policies to sequester greenhouse gas emission from the power plants along with the existing government energy policies of the country. The paper concludes that further assistance with energy conservation and renewable energy development is essential if India is to move towards a sustainable energy future.