The Union Budget 2022 is expected to present efficient financial incentives and provisions for the renewable sector
The Indian power ministry has proposed for a credit guarantee fund and a renewable energy bank to help countries transitioning from fossil fuel economy to more sustainable mode. Power minister Raj Kumar Singh and European Commission president Ursula von der Leyen at the headquarters of the International Solar Alliance in Gurugram stressed the importance of accelerating the transition to renewable energy.
A recent study has cast doubts on the nature of climate change contributions from corporations.
India has sent a 10 person delegation to Bonn, to participate in the ongoing climate conference to prepare for the COP27 in Egypt later this year. India emphasized the need of financial support for necessary climate action in developing and underdeveloped countries.
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India has committed to cut half its carbon emissions and generate about 500GW of renewable power by 2030. A study from BloombergNEF(BNEF) suggests that the country will need $223 billion to meet this target.
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The latest report published by Bloomberg reveals that India is planning to submit their official climate action targets emphasizing the net-zero goal to the United Nations. This was committed during the Paris Agreement and India will put forward the document in the coming September.
The Bonn climate conference has ended, without settling the demands of developing countries over climate change.
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United Nations Framework Convention on climate change (UNFCCC) defined climate finance as “local, national or translational financing- drawn from public, private and alternative source of financing – that seeks to support mitigation and adaptation actions that will address climate change.”
At the COP26, the Indian prime minister announced– somewhat surprisingly– that India will go carbon neutral by the year 2070. The deadline is about two decades longer than most countries’ 2050 deadline and China’s 2060 deadline. It was a surprising move, because India was reluctant to put a date on its carbon neutral journey, unlike other developed countries, primarily because the Indian economy is still growing and so is its carbon emission.
A new report released by the OECD Organization for Economic Co-operation and Development reveals that the developed countries have failed to fulfil their commitment to allocate $100 billion by 2020 to the developing nations for climate change mitigation and adaptation projects.
Sustainable financing is a term used for financing that takes into consideration the environmental impacts of the business that it is financing, also it is a tool used to promote sustainable businesses that have a positive impact on climate change and which reduce greenhouse emissions and carbon footprint. Sustainable financing may mandate the use of green methods of doing businesses or link the Interest payments to the achievement of sustainability outcomes.
Climate Finance is an umbrella term that encompasses different kinds of financial instruments used to support activities that help develop sustainable infrastructure. It includes establishment of renewable energy plants and storage systems, efforts of adapting to changing climate conditions, developing resilience to disasters that result from changing climate and extreme weather conditions. Another aspect of climate finance is issuing loans in exchange of a guarantee from a corporation or government that they will work in line with the sustainable development goals set by either the United Nations, or is a set of mutually agreed upon terms between the lender and the borrower based on climate goals.
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Germany has announced that it will provide Euro 1.2 billion (INR 10,025 crore) to support India to combat the climate crisis and to boost the cooperation between the two nations on clean energy.
You’re aware of climate change, of course. After all, you read and watch the news. And lately, there has been a lot of fuss about it in the media, ain’t it? Melting glaciers, scorching temperatures, the wildfires, the heatwaves, the flooding, the droughts – all fallouts of climate change, so the scientists claim.
You’re aware of climate change, of course. After all, you read and watch the news. And lately, there has been a lot of fuss about it in the media, ain’t it? Melting glaciers, scorching temperatures, the wildfires, the heatwaves, the flooding, the droughts – all fallouts of climate change, so the scientists claim.
The second edition of the Egypt – International Cooperation Forum and Meeting of the African Ministers of Finance and Environment was recently held between 7th and 9th September 2022 at St. Regis Almasa Convention Center, New Administrative Capital, Cairo, Egypt.
On the 24th of October 2022, the COP27 Presidency hosted in Cairo the Roundtable on discussing the draft report of “Independent High-level Expert Group on Scaling up Investment and Finance to Deliver on Climate Ambition and Development Goals”.
The 2022 United Nations Climate Change Conference, COP27 commenced on the 6th of November 2022 at Sharm El Sheikh, Egypt.
On 7th November 2022, the second day of the COP27 at Sharm-el-Sheikh, Egypt, India's Union Minister of Environment, Forest and Climate Change Bhupender Yadav spoke at two separate events – Middle Eastern Green Summit 2022 and the UN Secretary-General High-Level Round Table.
On 8th November 2022, the third day of the COP27 at Sharm-el-Sheikh, Egypt, the Prime Minister of island nation Antigua and Barbuda in the West Indies said that highly polluting emerging economies including China and India should pay into a climate compensation fund to aid nations in rebuilding after climatically induced calamities.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.