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    CLIMATE MEETING

    India Inc. leverages ESG push to gain a competitive edge and attract investments: Jatinder Cheema

    India Inc. is embracing ESG principles following government initiatives for long-term sustainability. Advocate Jatinder Cheema highlights the need for companies to adapt to new reporting norms. The Indian government's focus on ESG aligns with global trends and promotes sustainable development. Climate policies impact business regulations, emphasizing the shift towards sustainability and renewable energy sources.

    Eating out could become more expensive as vegetable prices soar

    Vegetable prices are skyrocketing, leading restaurants to consider hiking menu prices and abandoning discounts, ultimately burdening diners with higher costs for dining out. The unprecedented price surge has impacted bottom lines of eateries, forcing some to adjust portions or even discontinue certain items. Larger establishments are extending support to vendors facing challenges due to rising costs, while smaller joints are exploring cost-saving measures like automation.

    72% financial institutions to invest in ESG tech: Survey by BCT Digital and Chartis Research

    About 48% of the respondents identified risk assessment and mapping relevant ESG whereas another 48% viewed integrating ESG into operational and financial workflows as significant challenges.

    Some 120 cr mobile phones in use in country, main priority to increase 4G network's scope: Jyotiraditya Scindia

    Union Communications Minister Jyotiraditya Scindia provided updates on mobile phone penetration in India, indicating 70-80% coverage with 120 crore devices in use. Efforts are underway to expand the 4G network to reach 100% coverage using indigenous technology. Scindia discussed strategies for the development of North Eastern states and highlighted the 'Ek Ped Maa Ke Naam' campaign aiming to plant 51 lakh trees in Indore. Stay informed about the ongoing initiatives and government focus on regional growth.

    Rich nations failed to meet USD 100 bn climate finance promise in 2022: Oxfam

    Oxfam reports rich nations claimed USD 116 billion in 2022 climate finance, but only USD 35 billion was actual aid. The 2009 pledge was USD 100 billion. OECD's figures include market loans; only USD 15 billion was for adaptation. UNEP estimates USD 215-387 billion needed. Baku conference to set new goals. Citing Article 9, aid should be grants.

    Delhi mulls vertical forests, solar-powered EV charging infra to fight air pollution, climate change

    Delhi's government is exploring innovative solutions to combat air pollution and climate change, including solar-powered EV charging infrastructure and vertical forests. They're repurposing lamp posts, parking spots, and petrol stations for charging sites and battery-swapping stations, and considering "smart poles" for fast-charging, public Wi-Fi, and IoT integration. Plans also include implementing vehicle-to-grid (V2G) technology and painting roofs with heat-reflective paint to combat extreme heat. They aim for a zero-emission bus fleet by 2035-2040, building on Delhi's current leadership with 1,650 electric buses and plans for over 8,000 by 2025.

    • Renewables growth rate insufficient to reach 2030 target, says IRENA

      A U.N. climate change conference in Dubai last year set a goal of tripling renewable energy capacity worldwide by 2030 to more than 11 terawatts (TW). Countries have to submit new or updated climate target commitments every five years after 2020 so next year they have to include revised ambitions for 2030.

      Budget 2024: Agriculture & FMCG sectors seek better infra & tech to help farmers tackle climate change, inflationary pressures

      Agriculture and FMCG sectors say that the budget must prioritise funding for climate-smart agriculture and creating better infrastructure facilities for farmers and other stakeholders.

      Green energy may power industries in-house demand: Eversource CEO Dhanpal Jhaveri

      India's captive industrial power consumption, currently around 90 gigawatts from fossil fuels, has significant potential for renewable energy replacement, said Dhanpal Jhaveri, chief executive at Eversource, a green energy investment platform. Eversource, a partnership between Everstone and Lightsource BP, sees global climate policies like the EU's carbon footprint taxes driving this shift. Industrial giants like ArcelorMittal, JSPL, JSW, and Vedanta are investing in renewable energy for captive use to align with global climate goals.

      Greek islands face water crisis as tourist season peaks

      Water shortages hit Naxos and Thasos amid tourism and drought. Months without rain and record winter temperatures worsen portable desalination unit scarcity. Naxos farmers face salty irrigation; Karpathos restricts pools. Mayor Dimitris Lianos points to Copernicus warnings. EU protects Naxos potatoes, but wildfires and climate change endanger Mediterranean agriculture and tourism.

      What to know about Hurricane Beryl as it barrels across Texas

      Hurricane Beryl, the earliest Category 5 hurricane on record in the Atlantic, made landfall near Matagorda, Texas, causing significant storm surges, strong winds, and heavy rain. The storm is expected to weaken quickly. Scientists link this severe hurricane season to record-breaking sea temperatures driven by climate change. Beryl's early formation and intensity highlight the increasing danger of hurricanes. Caribbean leaders call for better financing to combat climate impacts, while funds intended for climate aid are often redirected back to wealthy nations.

      New UK Prime Minister Starmer assembles Cabinet for the first meeting: 'Now we get to work'

      Prime Minister Keir Starmer and his new government are tasked with tackling a range of issues in the U.K., including boosting the economy, reforming healthcare, and addressing immigration challenges. Starmer's ambitious agenda aims to bring about significant change, but faces scrutiny and obstacles ahead.

      North India lost 450 cubic km of groundwater in 2 decades, climate change to worsen depletion: Study

      About 450 cubic kilometres of groundwater was lost in northern India during 2002-2021 and climate change will further accelerate its depletion in the years to come, according to a new study. This is about 37 times the quantity of water the Indira Sagar dam -- India's largest reservoir -- can hold at full capacity, lead author Vimal Mishra, Vikram Sarabhai Chair Professor of Civil Engineering and Earth Sciences at IIT Gandhinagar, said.

      Green bonds - Municipal bodies think change, climate change

      Brihanmumbai's ₹10,224 crore FY25 climate budget signifies Indian municipal bodies' shift to sustainability. With Solapur, Vadodara, Bhopal, Indore, and Pimpri-Chinchwad leading green initiatives, CEO Masood Mallick highlights Swachh Bharat Mission, regulatory evolution, and public-private partnerships. NGT's environmental compensation emphasizes compliance, increasing the need for green financing.

      2024 Budget: Transforming India's agriculture for climate resilience and food security

      Budget: The 2024 budget presents a chance to sow the seeds of a transformed agricultural sector - resilient, sustainable, empowered. By embracing innovation, investing in the future and placing the farmer at the heart of the equation, India can cultivate a productive agricultural landscape that supports its people and the world's.

      Carbon removal industry reckons with a new problem — too many startups

      Countering climate change requires reducing planet-warming emissions first. However, inadequate sufficient action means the world would have to draw down CO2 in the atmosphere.

      COP29 will be litmus test for Paris agreement: Yalchin Rafiyev

      Azerbaijan, the host of the annual UN climate conference COP29, has the duty to lead nations in agreeing on measures to combat climate change at the necessary speed and scale to keep global warming within 1.5°C above pre-industrial levels. Baku will be a moment of truth for the entire climate community, said Yalchin Rafiyev, Azerbaijan's Deputy Foreign Minister and lead negotiator for COP29

      Must accelerate action for sustainable development goals: UN Secy General

      The Sustainable Development Goals face challenges due to the COVID-19 pandemic, conflicts, and climate change. Urgent global cooperation is needed to address rising poverty, conflict casualties, and displacement. Despite progress in renewable energy, more action is crucial for a just energy transition to achieve the SDGs by 2030.

      Economic benefits of investing in WASH for corporates

      A noteworthy fact in the CSR spends of the past 5 years is the growing emphasis on healthcare, WASH and environment sustainability (JICA Report). This bodes well for achieving India’s net zero goals by 2070.

      Budget expectation of farm sector: Spotlight on agri research, fertiliser subsidy, climate fight in meeting with FM

      Budget 2024 expectations: Experts at the meeting advocated for the consolidation of all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and proposed a hike in the retail price of urea, unchanged since 2018. They also emphasized promoting bio-fertilisers and foliar fertilisers through subsidies.

      Record $1.8 trillion investment in renewables made in 2023 not enough to meet COP28 goals, says EY report

      More than 100 countries at the COP28 climate summit in Dubai last year had agreed to triple renewable energy capacity by 2030 and cut down the use of fossil fuel and emissions, a move seen as vital to avert the worst effects of climate change. The pledge made at COP28 is one of the several energy-related announcements that include new measures and funding to combat methane emissions, agreements to cut coal use and nuclear energy promotion.

      Bonn climate talks: Countries leave much to do at COP29

      Countries made little progress in finding common ground on the crucial issue of climate finance at the mid-year UN climate talks in Bonn, Germany, even as floods, extreme rains, and brutal heatwaves upended lives and livelihoods in several nations.

      Azerbaijan proposes COP truce to unite countries on climate change

      Azerbaijan, the host of this year's United Nations Climate Change Conference (COP 29), is aiming to shield the annual talks from geopolitical tensions by proposing a two-week COP truce. This initiative, inspired by the Olympic truce, is intended to unite countries in a collaborative effort to address the pressing issue of climate change. Hikmet Hajiyev, foreign policy adviser to Azerbaijan President Ilham Aliyev, highlighted the current global geopolitical polarization as reminiscent of the Cold War era, making consensus-building on climate action challenging.

      India, US, 12 others likely to ink pact today to meet climate financing goal

      India, the US, and a dozen other nations are poised to sign a Clean Economy Agreement under the Indo-Pacific Economic Framework, aimed at meeting climate objectives through collaborative financing. The agreement, to be signed at a Singapore meet, focuses on improving market conditions and reducing barriers for low-carbon projects. While the pact is in its final stages of approval, experts caution against allowing imports of genetically modified seeds and foods under the guise of food security.

      Carbon removal needs to quadruple to meet climate goals, researchers say

      New policies are required to drive up demand for CDR, the authors said, with funding for new technologies falling since 2020. The $856 million invested in new startups last year accounted for around 1% of total climate tech spending.

      US, Indo-Pacific partners holding talks in Singapore on clean energy

      The U.S.-led Indo-Pacific Economic Framework ministerial meeting in Singapore includes major firms joining a 'Clean Economy' investor forum to boost infrastructure and climate investments.

      Experts warn of heat risks as India's temperatures climb again

      India is facing a severe heatwave, with temperatures in several cities exceeding 45 degrees Celsius. The city of New Delhi has seen temperatures rise into the high 40s Celsius, with power usage in the city reaching a record high. Experts warn that cities are more vulnerable to the compounding effects of urbanization and climate change, leading to a greater number of hotter days, prolonged dry spells, and less rainy days.

      Bad news for hybrid car buyers, good for EV sector: GST Council may not give tax relief for hybrid cars in next meeting

      The govt may not discuss tax concessions for hybrid cars in the next GST Council meeting, affecting companies like Maruti Suzuki and benefiting electric car makers like Mahindra and Mahindra. Transport minister Nitin Gadkari had requested a GST reduction on hybrid cars to 12%.

      Sluggish progress on climate finance at World Bank, IMF meetings
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