Lack of financial commitments from rich countries poses threat to Paris meet
Speaking at the UN Climate Conference, Co-Chair of the Green Climate Fund board, Manfred Konukiewitz on Wednesday said that the Fund is on target and will soon be ready to help developing countries foster climate-friendly development.
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
India will publish its revised Nationally Determined Contribution (NDC) for the 2035 period by December, Environment Minister Bhupender Yadav said on Monday, while urging developed nations to achieve net zero targets ahead of their current timelines.
'At COP30, the emphasis will be on unlocking climate finance, reinforcing the principle of common but differentiated responsibilities, and building resilience through inclusive transitions and the mainstreaming of adaptation.'
The recent correction suggests that while precious metals hedge geopolitical tension and inflation, they are not immune to sharp short-term corrections and profit-booking.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The Maharashtra municipal elections showed a troubling shift, where votes were traded for cash, convictions no longer mattered, and ideology became an afterthought, observes Ramesh Menon.
Developed nations have refused financial support for climate change to India, China and Brazil.
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
Shiv Sena (UBT) chief Uddhav Thackeray criticized the BJP over the arrest of climate activist Sonam Wangchuk and accused the party of corruption and divisive politics during his Dussehra rally.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
The minister echoed the consistent message of the Indian delegation as well as other developing countries that the Intended Nationally Determined Contributions of all countries should include elements of adaptation, finance, technology and capacity building.
After securing a euro 150 million Credit line for solar energy finance from a German financial institution, State Bank of India is in talks with european Investment Bank for about euro 200 million to fund climate finance. Recently the country's largest lender obtained euro 150 million in green funding from German government-owned KFW on soft terms and a long repayment period. SBI will use funds to finance solar energy projects.
The Supreme Court of India has dismissed a petition filed by an NGO challenging the construction of a renewable energy project at the Jayakwadi Dam in Maharashtra. The court criticized the NGO for opposing the project, stating that it would be detrimental to the country's progress if every project was resisted. The court also raised questions about the NGO's bona fides and funding, suggesting that it may have been influenced by a company that lost the tender for the project. The project, a floating solar power plant, was approved by the National Green Tribunal (NGT) and the Ministry of Environment, Forests and Climate Change. The NGT had previously dismissed the NGO's plea, stating that it could not find any law prohibiting such activities in the eco-sensitive zone. The Supreme Court upheld the NGT's decision, finding no grounds to interfere.
A group of 91 retired bureaucrats has appealed to the Centre to withdraw the Green Credits programme, which they claimed may facilitate diversion of forest land to private entities. "Quick, smooth and easy diversion of our forest lands in favour of user agencies is apparently the sole intention of this set of Green Credits rules. "We urge the MOEFCC to recognise this danger and withdraw the Green Credits notification expeditiously," the group of former civil servants wrote in an open letter to the Ministry of Environment, Forest and Climate Change (MoEFCC).
The report was presented at the UN Climate Convention Summit in Peru on Thursday by the UN Framework Convention on Climate Change's Standing Committee on Finance.
During his three-day UK visit until Tuesday, Modi is listed to address the COP26 summit with a national statement about India's climate action plan in the afternoon session on Monday, ahead of Australian Prime Minister Scott Morrison and Pakistan Prime Minister Imran Khan.
Adopted after nearly two weeks of hectic negotiations, the first Global Stocktake deal, being termed the UAE consensus, urges countries to accelerate efforts toward the phase-down of unabated coal power, which is a climb down after India and China strongly resisted the singling out of coal.
India tried to block the project at the fund's board meeting in South Korea, but later agreed to approve it with new condition, reports Nitin Sethi.
Politics of climate negotiation is expected to reach a crescendo tomorrow when the Durban talks enter the last leg of deliberations. With only one day to go and no major decision surfacing from almost two-week long parleys, uncertainty is looming large over the outcome of the talks.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
Data from the ministry of environment, forest and climate change reveals that 30 cities recorded an increase in PM10 levels compared to 2017-18 (FY18), indicating deteriorating air quality.
For India, the talks will work as another opportunity to sharpen its positions ahead of the formal UN negotiations.
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China is the top greenhouse gas emitter, ahead of the United States, the European Union and India.
US wants differentiation between developed and developing countries scrapped
PM Manmohan Singh is keen on addressing the issues of global warming in India and has promised a Venture Capital Fund to promote green technologies.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
Prime Minister Manmohan Singh made the announcement at the 16th South Asian Association for Regional Cooperation Summit that began in Thimphu with an apt theme -- Towards a Green and Happy South Asia.
vIn its effort to tackle the impacts of climate change in Kerala, the Communist Party of India-Marxist-led government has launched an ambitious project to improve the green cover of over 3,000 temples being managed by five devaswom boards under its control.
Heads of state and big-name billionaires opened the Paris climate summit with a bang on Monday.
'Expect India to keep doing well irrespective of geopolitics.'
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
India on Wednesday announced setting up of a fund that would help South Asia effectively meet urgent adaptation and capacity building needs posed by climate change and also proposed establishment of innovation centres in the region to develop sustainable energy technologies.
Delhi's crime rate against women stood at 144.4 in 2022 -- the highest among all states and Union Territories.
India on Sunday hailed the outcome of the climate summit, saying the deal reached has addressed the concerns of the developing countries and given them enough space to grow and take appropriate nationally determined steps to combat global warming.
"As president, I can put no other consideration before the well being of American citizens," said Trump as he announced his decision to withdraw from the Paris agreement.
With the weaker-than-expected agreement at the recent Climate Change Conference at Lima, there is an urgent need to highlight endeavours in civil society and business for a sustainable global economy with grassroots empowerment, say Rajni Bakshi.
Prime Minister Narendra Modi on Tuesday met Microsoft co-founder and billionaire philanthropist Bill Gates on the sidelines of the climate summit here and discussed ways to further sustainable development, steps to mitigate climate change and vaccine research. The meeting between Modi and the American business magnate, whose foundation is focusing on fighting the COVID-19 pandemic, took place after the former launched the Initiative for the Resilient Island States (IRIS) for developing infrastructure of small island nations. Prime Minister Modi expressed appreciation for the work being done by the Bill and Melinda Gates Foundation in India, the Ministry of External Affairs (MEA) said in a statement.
PM Modi cautioned against any unilateral steps that will lead to an economic barrier in the battle against climate change as he hoped that the developed countries would mobilise aid.
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