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Gadkari vows to eliminate petrol, diesel vehicles; tax cut for hybrid cars
Union minister Nitin Gadkari Gadkari did not give any timeline to...
LS polls: Over 60 environmental groups demand ban on mega infrastructure projects in Himalayas
Climate activist Sonam Wangchuk said, "While industries exploit the...
‘India facing high fossil fuel consumption challenge’
India is a signatory to the Paris Agreement. Under the agreement signed in 2015, India has committed to cut GHG (Green House Gas) emissions intensity of its GDP by 33-35 per cent, increase non-fossil fuel power capacity to 40 per cent from 28 per cent in 2015, add carbon sink of 2.5-3 billion tonnes CO2 per annum by increasing the forest cover, all by 2030.
Natural disasters occurring three times more often than 50 years ago: new FAO report
The least developed and low to middle income countries have fared worst of all. From 2008 to 2018, natural disasters have cost the agricultural sectors of developing economies more than $108 billion in damaged crop and livestock production.
Over the same period, Asia was the most hard-hit region, with overall economic losses of $49 billion, followed by Africa at $30 billion, and Latin America and the Caribbean at $29 billion.
63 nations to see ratings downgrades by 2030 for ignoring climate change
The U.S. is projected to lose 20 per cent of its per-capita gross domestic product by 2050 in a worst-case scenario, with nations closer to the equator or with high-carbon economies even more vulnerable, according to the FTSE Russell report.
Malaysia could see the worst economic hit at 31 per cent. The projections, based on trends of greenhouse-gas emissions and countries’ mitigation efforts, show the risk for investors of long-term bets on sovereign bonds.
Climate-change linked downgrades could cost countries $270 billion-a-year
The estimates comes amid warnings by policy makers from around the world that financial markets are underpricing the risk of climate change on asset prices, with potentially costly future corrections.
Buffett’s Berkshire opposes shareholders’ climate change, diversity proposals
Berkshire also said Buffett’s compensation in 2020 totaled $380,328, comprising his usual $100,000 salary plus $280,328 for personal and home security.
Though Buffett’s salary is low for a chief executive of a major company, his 16.2% stake in Berkshire was worth about $98.2 billion as of Friday.
Citing its decentralized model, Berkshire said the climate proposal from the California Public Employees’ Retirement System, Federated Hermes and Caisse de Dépôt et Placement du Québec was unnecessary, and that many businesses’ climate decisions already made “great sense” for the environment.
India considers net zero goal around 2050, a decade before China
Once the US adopts a widely anticipated net-zero goal, nine of the 10 largest economies will have made pledges to neutralise emissions.
If India does so, too, it would mark a significant step toward the Paris Agreement aspiration of keeping average temperatures from rising more than 1.5 deg C above the pre-industrial period.
AIA to end all its coal exposure by 2028
AIA will not permit any new investments within businesses involved directly in either mining coal or generating electricity from coal.
‘Green’ funds shown to herd less, cutting climate shock risk: EU watchdog
ESMA published what it described as a first attempt to assess vulnerabilities to climate-related financial risks using data from 23,965 EU-based funds worth 10.7 trillion euros ($12.7 trillion).
“Within the European financial sector, investment funds are more exposed to climate-sensitive economic sectors than banks, insurers and pension funds. However, few investment fund climate-related financial risk assessments have been conducted,” ESMA said in its latest summary of market risks.
Swiss Re announces ambitious climate targets; accelerates race to net zero
Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “Climate change remains the biggest challenge we face as a society. The stakes are high and require immediate attention. Signing up to net-zero emissions by 2050 and setting concrete climate targets are important first steps. What needs to follow now is action. We are moving ahead in all areas of our business to accelerate the transition towards net zero.“
Lethal pollution high in 2020 despite lockdowns: report
Concentrations of the life-shortening particles — cast off by traffic pollution and burning fossil fuels — dropped 11 percent in Beijing, 13 percent in Chicago, 15 percent in New Delhi, 16 percent in London, and 16 percent in Seoul.
At least 60 percent of India’s cities were more breathable last year than in 2019, and all of them had cleaner air than in 2018.