The warning coincides with mounting pressure from Germany and...
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India has received USD 1.16 billion in climate finance so far: Govt
Several measures, including the National Mission for Sustainable...
India ranks 3rd globally for LEED green building certification in 2024
Gopalakrishnan Padmanabhan, Managing Director – Southeast Asia...
Climate risk-related downgrade may affect 20% of global corporates by 2035
London: Almost 20% of global corporates could face rating downgrades by 2035 due to climate vulnerabilities if such risks are not mitigated, Fitch Ratings says. ``This represents the proportion of corporates that we estimate to have Climate Vulnerability Scores...
EU’s climate stress now to include insurers
The inclusion of insurers marks an expansion of the region’s preparations for the transition of the financial sector. Insured losses from climate change hit about $120 billion in 2022, according to data compiled by Munich Re, and the industry is generally seen as at...
Civil aviation ministry’s consultative committee discusses sustainable development initiatives
Jyotiraditya Scindia,Union minister, Ministry of Covil Aviation The ministry has taken initiatives to make airports carbon neutral and reach the target of net zero carbon emissions. It has also advised all operational brownfield airports and upcoming greenfield...
Finance firms with $136 trln urge boards for more environmental data
For the first time, the questionnaire will also ask companies about plastics-related business risks, for example around packaging, and how they are addressing them The increase in demand for more information from companies comes as regulators across the world begin to...
Unprecedented increase in global ocean plastic pollution
The ocean supplies half the planet’s oxygen, absorbs more than a third of carbon dioxide emissions from the burning of fossil fuels and feeds billions of people. But it is in trouble from overfishing, plastic dumping and acidification The report comes just days after...
Canada’s financial industry regulator issues norms for banks, insurers to disclose climate risks
The principles come into effect at the end of fiscal 2024 for larger banks and insurers and in 2025 for smaller firms, the regulator said in a statement. The Canadian regulator is going ahead with its first climate framework as global financial bodies raise pressure...
Climate change to cost Germany up to 900 billion euros by 2050 – study
Germany’s economy and environment ministries cited the study as showing that extreme heat, drought and floods could cost between 280 billion euros ($297.81 billion) and 900 billion euros between 2022 and 2050, depending on the extent of global warming The costs...
Why is Indonesia moving its capital from Jakarta to Borneo
Indonesian officials say the new metropolis will be a sustainable forest city" that puts the environment at the heart of the development and aims to be carbon-neutral by 2045 But environmentalists warn that the capital will cause massive deforestation, threaten the...
Sebi extends timeline until March 15 for comments on ESG rating norms
This came in the wake of growing recognition of the significant economic and financial impact of climate change and environmental, social and governance (ESG) risks In addition, the regulator suggested ESG parameters that could be relevant to Indian context that may...
Yellen warns climate change could trigger asset value losses, harming US economy
"As climate change intensifies, natural disasters and warming temperatures can lead to declines in asset values that could cascade through the financial system. And a delayed and disorderly transition to a net-zero economy can lead to shocks to the financial system as...