"The country is grappling with climate change, where floods, heavy...
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Disaster Management (Amendment) Bill 2024 tabled in Lok Sabha
The bill is aimed to strengthen the efficient working of the...
India’s Carbon Market: Regulations expected in months
"Large Indian corporations are on to this carbon market development...
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.
Swiss Re and Climeworks sign world’s first 10-yr carbon removal purchase agreement
”To mitigate the risks of climate change, the world needs to scale-up carbon removal on top of, not instead of emission reductions. By partnering with Climeworks we can play to our strengths in this endeavour, as a risk taker, investor, and forward-looking buyer of climate solutions”, said Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer and Co-Chair of the World Economic Forum’s Alliance of CEO Climate Leaders.
Govt working on establishing charging infra for EVs across country: Pandey
”We are working in a way so that the EVs become a public movement. That’s how we are going ahead with this,” Union Heavy Industries Minister Mahendra Nath Pandey noted.
India’s first smog tower inaugurated in Delhi
”This is the first such smog tower in the country. It’s a new technology. We have imported it from the US. The structure will suck polluted air from above and release clean air from below. It will purify 1,000 cubic metres of air per second,” Chief Minister Arvind Kejriwal told reporters.
Experts, however, feel smog towers may provide immediate relief from air pollution in a small area but they are a costly quick-fix measure with no scientific evidence to back their efficacy in the long term.
Governments should instead address root causes and promote renewable energy to tackle air pollution and reduce emissions, they said.
“City of London supports 15% of global carbon emissions”
“We’ll be targeting the City of London because it’s time that people understand the real contribution of the UK to this crisis,” lawyer and XR activist Tim Crosland told reporters.
“The City of London is the arch financier of the carbon economy. It supports 15% of global carbon emissions. It hosts BP, Shell, Glencore, Anglo American, and Russian oil and gas companies such as Gazprom and Rosneft.”