These countries are among the most vulnerable to climate change,...
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Adani Ports secures top position for climate actions
The company also secured the top rank in the marine ports sector on...
Climate change drives world to first 12-month spell over 1.5C
Already 2023 was the planet's hottest year in global records going...
India plans $4.6 billion in incentives for battery makers in electric vehicle push – document
Though keen to reduce its oil dependence and cut down on pollution, India’s efforts to promote electric vehicles have been stymied by a lack of investment in manufacturing and infrastructure such as charging stations. Just 3,400 electric cars were sold in the world’s second-most populous nation during the last business year, compared to sales of 1.7 million conventional passenger cars.
Global climate goals ‘virtually impossible’ without carbon capture – IEA
Up to $160 billion needs to be invested in the technology by 2030, a ten-fold increase from the previous decade, it added.
“Without it, our energy and climate goals will become virtually impossible to reach,” the IEA head Fatih Birol said in a statement.
Munich Re issues first-ever green bond
Munich Re will use the raised capital to finance or refinance sustainable projects in accordance with the company’s Green Bond Framework. Projects include investments of equity and debt in renewable energy, energy efficiency, clean transportation, green buildings, sustainable water and wastewater management, the eco-efficient and/or circular economy, and the environmentally sustainable management of living natural resources and land.
Climate risk need to be baked into company financial accounts:UN climate envoy
Specifically, the investor groups, which include the United Nations-backed Principles for Responsible Investment, said companies needed to explain the key assumptions made with regard to climate risk and make sure they are compatible with the goals of the Paris climate agreement
Steady rise in heavy rainfall events during 3 last years: Harsh Vardhan
Earth Sciences Minister Harsh Vardhan said studies show that the frequency of severe cyclones in the Arabian Sea has increased in recent years.
The data shows that there is a steady increase in the number of heavy rainfall events during the last three years, Vardhan said.
The frequency of cyclones too has seen a rise, he noted.
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.