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Not politics, not interest rates: India’s surging economy at risk from water
The shortages are affecting rural and urban Indians alike,...
Climate change can no longer be ignored: CJI
D.Y. Chandrachud,Chief Justice of India The CJI said he was...
Pollution likely to cut 9 years of life expectancy of 40% of Indians
More than 480 million people living in the vast swathes of central, eastern and northern India, including the capital, New Delhi, endure significantly high pollution levels, said the report prepared by the Energy Policy Institute at the University of Chicago (EPIC).
“Alarmingly, India’s high levels of air pollution have expanded geographically over time,” the EPIC report said.
Weather disasters becoming more frequent and costly, UN agency says
“Thanks to our early warning service improvement we have been able to have a decrease of the casualties at these kind of events, but the bad news is that the economic losses have been growing very rapidly and this growth is supposed to continue,” WMO Secretary-General Petteri Taalas told a press conference.
“We are going to see more climatic extreme because of climate change and this negative trend in climate will continue for the coming decades,” he said.
Axis Bank raises $600 mn through ESG-compliant AT1 bonds sale overseas
Merchant bankers also said this was only the third environment, social and governance (ESG)-themed bond issue by any lender globally and the first one in India.
UN hails end of poisonous leaded gas use in cars worldwide
Petroleum containing tetraethyllead, a form of lead, was first sold almost 100 years ago to increase engine performance. It was widely used for decades until researchers discovered that it could cause heart disease, strokes and brain damage.
UNEP said studies showed leaded gas caused measurable intellectual impairment in children and millions of premature deaths.
“The cost of environmental degradation is real,” said UNEP’s executive director, Inger Andersen, citing what she described as a “very, very ballpark number” of USD2.45 trillion in damage to the global economy prevented by the ban.
30 kph max: Paris shrinks speed limit to protect climate
It’s the latest initiative by a city trying to burnish its climate credentials and transform people’s relationship to their vehicles. City officials say it’s also aimed at reducing accidents and making Paris more pedestrian-friendly.
Resting on climate action a $11 trillion opportunity for India: Deloitte Report
Over the next 50 years, the top five most impacted industries in terms of economic activity are expected to incur a significant share of climate-related loss.
These industries — services (government and private), manufacturing, retail and tourism, construction, and transport — currently account for more than 80 per cent of India’s GDP. Together, they form the basis of the country’s contemporary economic engine, it added.
Deloitte estimates that by 2070, these five industries alone would experience an annual loss in the value added to GDP of more than USD 1.5 trillion per year.
Climate Change: Insurers can afford to drop Oil and Gas—but many won’t
To date, just one insurer has promised to take “significant action” in this regard, according to analysts at Societe Generale SA.
Australia’s Suncorp was the first to announce it would no longer provide coverage for all new oil and gas production projects.While insurers (23 in all) have moved to end their underwriting of coal-related activities, they have been slow to act on oil and gas. That’s mainly because the insurance market for those fossil fuels is considerably larger, with estimated premiums of more than $17 billion in 2018, compared with $6 billion for coal power, said Peter Bosshard, program director at the Sunrise Project and global coordinator of Insure Our Future (IOF).
Climate Change: 80% of South Mumbai will be under water by 2050, Mumbai municipal commissioner
Mumbai municipal commissioner Iqbal Singh Chahal said that Mumbai is the first city in South Asia that is preparing its climate action plan and acting on it.
“Earlier, we used to hear about climate change events like melting glaciers, but not directly affecting us. But now it has come to our doorstep,” he added.
Chahal said that last year for the first time in 129 years, a cyclone (Nisarga) hit Mumbai and thereafter in the last 15 months, there have been three cyclones. After that, on August 5, 2020, about 5 to 5.5 feet water was accumulated at Nariman point.
China’s BRI project causing environmental degradation in South Asia, says report
South Asia is amongst the main regions likely to be hit severely by the negative environmental impact of climate change. BRI announced by Beijing in 2013, will exacerbate these trends, reported European Foundation for South Asian Studies (EFSAS).
The Environmental Kuznets Curve (EKC) report said the environmental trends in South Asia generally correspond to the development trajectory, that causes pollution through growing industrialisation, which has become one of the key environmental characteristics of South Asia, says EFSAS.
ESG bonds likely to top USD 10 bn this year: JP Morgan
Globally, the environmental, social and governance (ESG) has become a key board-room topic since 2013-14 and soon investors have also been asking on the ESG principles of their investee companies.
The ESG idea has caught the attention of domestic corporates, investors and analysts as well and since 2015, 41 companies have raised over USD 17.2 billion in such funds of which USD 6.24 billion this year alone.
Green bonds will continue to be led by renewable energy players, according to Agarwal, who sees green bond issuances gaining traction even outside the renewable energy space, such as the ones by Ultratech Cement and Delhi Airport. Also, more green debt will be raised to cut carbon emissions by sectors like steel and cement.