Senior advocate Gopal Sankaranarayanan, appearing for Vanashakti,...
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No one wants used EVs, making new ones a tougher sell too
The problems are expected to intensify in 2024, when many of the...
IFSCA forms panel to formulate framework for green finance
The committee is chaired by Dhruba Purkayastha India Director for...
A fifth of countries worldwide at risk from ecosystem collapse as biodiversity declines, reveals pioneering Swiss Re index
39 countries have ecosystems in a fragile state on more than a
third of their land – Malta, Israel, Cyprus, Bahrain and Kazakhstan
have the lowest Biodiversity and Ecosystems Services (BES) ranking
• 55% of global GDP depends on high-functioning BES
• Major economies in Southeast Asia, Europe and the US exposed to
BES decline
Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer, said: “There is a clear need to assess the state of ecosystems so that the global community can minimise further negative impact on economies across the world. This important piece of work provides a data-driven foundation for understanding the economic risks of deteriorating biodiversity and ecosystems. In turn, we can inform governmental decision-making to help improve ecosystem restoration and preservation. We can also support corporations and investors as they fortify themselves against environmental shocks. Armed with this information, we can also ensure the provision of stronger sustainable insurance services.“
California to ban sale of new gasoline-powered passenger vehicles starting in 2035
The move is the most significant yet by a U.S. state aimed at ending the use of fossil fuel-burning internal combustion engines, and clashes with the pro-fossil fuel policies of President Donald Trump’s White House.
The California Air Resources Board (CARB) will turn Newsom’s goal into a legally binding requirement by writing regulations to mandate that 100% of in-state sales of new passenger cars and trucks are zero-emission by 2035. The board also plans to mandate by 2045 that all operations of medium- and heavy-duty vehicles be zero-emission where feasible.
Environmental groups praised the governor’s action on clean vehicles, but automakers were skeptical.
California said it was joining 15 countries that have made similar pledges, including Britain.
Tel Aviv to become first city with electric roads that charge public buses
“Energy is transferred from the electricity grid to the road infrastructure and manages communication with the approaching vehicles,” according to the company’s website.
The electric roads are part of a pilot program led by the Tel Aviv-Yafo Municipality in collaboration with ElectReon, a company developing a system that can charge electric vehicles while they are moving, and Dan Bus Company. The project is being funded by a combination of government and private funds, according to a spokesperson for ElectReon, though a full budget has not been released.
Renewable sector in India attracts $10-20 bn of investment:IEEFA
“Domestic and global investors are sitting up and taking notice of declining renewable prices plus the clear government policy alignment and ambition, and this is reflected in the very positive results of these recent auctions.”
AIR Worldwide Releases updated Multiple Peril Crop Insurance Model for China
An outbreak of African swine fever—a highly infectious and deadly disease—started impacting pigs in China in 2018, resulting in a loss of half of China’s 400 million pigs, or 40% of the world’s total agricultural pig population, as of the first half of 2020.
“China is a leading global producer of wood and paper products; the country’s forests can be insured under the national crop insurance scheme and incur large losses not only from extreme weather but also fire, pests, and disease,In addition, livestock (including poultry) policies now make up about a quarter of agricultural premiums in the country and have a large potential for losses. To get a comprehensive view of agricultural risk in China, companies must consider the risk to crops, forests, and livestock,”said Yizhong Qu, assistant vice president, AIR Worldwide China.
Carbon emissions of richest 1% more than double the emissions of the poorest half of humanity:Oxfam
The report assesses the consumption emissions of different income groups between 1990 and 2015 – 25 years when humanity doubled the amount of carbon dioxide in the atmosphere. It found:
The richest 10 percent accounted for over half (52 percent) of the emissions added to the atmosphere between 1990 and 2015. The richest one percent were responsible for 15 percent of emissions during this time – more than all the citizens of the EU and more than twice that of the poorest half of humanity (7 percent).
Airbus unveils concepts for hydrogen-powered plane
Airbus AIR.PA has set itself a deadline of 2035 to put a carbon-free commercial aircraft into service, a target engine makers like Safran SAF.PA have described as ambitious.
DCGI approves commercial launch of low cost Covid-19 test ‘Feluda’
The Tata CRISPR test is the world’s first diagnostic test to deploy a specially adapted Cas9 protein to successfully detect the virus causing COVID-19, it said.Moreover, CRISPR is a futuristic technology that can also be configured for detection of multiple other pathogens in the future.
Commenting on the development, Girish Krishnamurthy, CEO, TATA Medical and Diagnostics Ltd said, “The approval for the Tata CRISPR test for COVID-19 will give a boost to the country’s efforts in fighting the global pandemic.
World’s top companies urge action on nature loss ahead of U.N. talks
“Healthy societies, resilient economies and thriving businesses rely on nature. Governments must adopt policies now to reverse nature loss in this decade,” the companies said in a statement.
Others to sign included IKEA, Unilever and AXA .
Business for Nature, the coalition which organised the statement, said it was the first time so many companies had issued a joint call emphasising the crucial role healthy ecosystems play in human well-being.
Businesses call on U.S. insurers to ditch fossil fuel underwriting
“The insurance industry is underwriting and investing in fossil fuels which we now know are the key drivers of climate change,” they said.”As insurance customers, we are therefore expressing our desire for insurance coverage in the U.S. market that isn’t tied to supporting fossil fuels and actively supports renewable energy.”
U.S. insurers reported almost $7 trillion in cash and invested assets, according to the National Association of Insurance Commissioners.