INDIA CLIMATE ACTION
Can new RBI Governor balance economic growth & climate crisis challenges?
The new RBI governor must balance economic growth and inflation control while addressing climate risks. This involves integrating climate considerations into financial policies, promoting green finance, and ensuring financial system stability. The RBI should also encourage more green loans and investments to support India's transition to a low-carbon economy.
Could climate change unleash chaos in Bengaluru? Narayana Murthy¡¯s warning raises eyebrows
Infosys co-founder Narayana Murthy has raised alarms about the potential impacts of climate change in India, specifically warning that rising temperatures could make rural areas uninhabitable, leading to mass migration to cities like Bengaluru, Pune, and Hyderabad. Speaking at an event in Pune, Murthy called for urgent collaboration between the corporate sector, politicians, and bureaucrats to address these challenges and prevent urban areas from becoming overburdened. He also stressed the need for greater environmental responsibility, particularly among India¡¯s youth.
India leading fight against climate change: Bhupender Yadav
Addressing a conclave on "Future Earth: People's Participation in Climate Resilience" here, Yadav said Prime Minister Narendra Modi has made people's participation the essence of India's climate action through initiatives such as "Mission LiFE" and "Ek Ped Maa Ke Naam".
IIT Guwahati, IIT Mandi, and CSTEP Bengaluru release district-level climate risk assessment report for India
A new report reveals 51 Indian districts face "Very High" flood risk and 91 face "Very High" drought risk. Alarmingly, 11 districts are highly vulnerable to both. The report, a collaboration between IITs and CSTEP, urges targeted adaptation strategies and capacity building for a climate-resilient India.
India slams developed countries for climate crisis at ICJ hearing
India argued that developed countries exploited the global carbon budget while hindering developing nations' resource use.
India warns UN top court not to add to climate laws
India on Thursday warned the top UN court not to create new international laws on tackling climate change, as judges aim to craft a fresh global legal framework. Joining other top emitters the United States and China, India told the International Court of Justice that the existing UN framework was sufficient -- angering smaller vulnerable states that want to see the court go further.
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Build capabilities to ensure correct assessment of climate change risks: RBI Dy Guv Rao
RBI Deputy Governor M. Rajeshwar Rao emphasized the urgent need to assess and mitigate climate-related financial risks at an international conference. He warned of systemic risks posed by climate change, highlighting recent catastrophic events as stark reminders. Rao stressed the importance of transparency and capacity building for sustainable growth and a secure future, noting 2024's record-breaking temperatures.
Semantics, not solutions: Indian official slams COP29 as missed opportunity for climate finance mobilization
India's officials criticize COP29 for failing to secure meaningful climate finance and addressing adaptation needs in developing nations. They highlight the gap between promised and actual funding, inadequate climate finance definitions, and inequities in global climate policies. India's leadership in advocating for developing countries' concerns remained strong.
No big deal, but still a deal to work on
The COP29 climate finance deal, finalized in Baku, triples funding to developing nations to $300 billion annually by 2035. However, it relies heavily on loans rather than grants and shifts responsibility to multilateral development banks.
COP29: India says climate deal falls short
India voiced strong opposition to the climate finance agreement reached at COP29 in Baku, deeming the proposed increase to $300 billion by 2035 as "too little, too distant" to meet the needs of developing countries. India criticized the adoption process as stage-managed, highlighting the insufficient financial commitment to enable effective climate action.
World agrees on $300 billion climate aid for developing nations; India rejects the offer
COP29 concluded with a contentious agreement for wealthy nations to provide $300 billion annually by 2035 to help developing countries address the climate crisis. While hailed as progress, the deal was criticized by many vulnerable nations as inadequate.
Prime Minister Modi & Australian PM Albanese reaffirm focus on defence cooperation
Prime Minister Narendra Modi and Australian PM Anthony Albanese met in Rio De Janeiro to launch a Renewable Energy Partnership and strengthen their defense ties. They reaffirmed their commitment to advancing their Comprehensive Strategic Partnership and enhancing collective strength in the Indo-Pacific region.
How developing is your country?
At COP29, many nations are questioning the fairness of grouping China and India as 'developing countries'. This label, while granting certain benefits, implies a perpetual state of 'catching up' for nations like South Africa and Bhutan. While this categorization can be advantageous when it comes to climate action responsibilities, it fails to acknowledge the economic diversity within the 'Global South'.
India calls for unrestricted green tech, climate finance; criticises unilateral measures by developed nations at COP29
At the COP29 climate summit, India criticized developed nations for imposing unilateral climate measures that hinder climate action in developing countries. India emphasized the need for freely available green technology and climate finance based on climate justice principles to support developing nations in raising their climate ambitions.
COP29 week one ends in deadlock as divisions stall climate action progress
The G-77/China bloc reiterated the call for $1.3 trillion annually in climate finance, with an emphasis on grants and concessional funding to avoid burdening vulnerable economies already grappling with the impacts of climate change.
No progress at COP29 in matters critical to developing countries: India
At COP29, India criticized developed nations for delaying climate action and not providing adequate financial support to developing countries. India emphasized the need for financial aid, technology transfer, and capacity building to enable developing countries to address climate change effectively.
G20 role in climate finance critical: UN body chief
Ahead of the G20 summit in Rio de Janeiro, UN climate chief Simon Stiell urged world leaders to prioritize climate action and increase financial support for developing countries. Stiell emphasized the urgency of the situation as negotiators in Baku work towards finalizing post-2025 climate finance goals.
Unilateral trade measures in name of climate action 'discriminatory, harm global cooperation': India
Other groups of developing countries, including the G77, the largest bloc representing over 130 nations at the UN climate talks, and Like-Minded Developing Countries also registered their strong opposition on the issue.
A big climate goal is getting further out of reach
The report by Climate Action Tracker, a research group, estimates that the climate and energy policies pursued by governments around the world would cause global temperatures to rise roughly 2.7 degrees Celsius, or 4.9 degrees Fahrenheit, above preindustrial levels by 2100.
India heads to COP29 with red lines tied to Paris Pact
India is gearing up for COP29 with a firm stance on climate finance, urging developed nations to fulfill their commitments. The nation is set to advocate for new, grant-based funding mechanisms and resist pressure to restrict investments in coal-based projects. India's position on post-2026 climate targets will depend on the outcomes of COP29 and the stances taken by other countries.
A quieter but determined India heads to Baku climate talks
Prime Minister Narendra Modi and Minister for Environment, Forest and Climate Change Bhupender Yadav will not be at this year¡¯s annual UN climate summit (COP29) in Baku, Azerbaijan. However, the India delegation to COP29 will be in full strength to negotiate on key issues such as climate finance, carbon markets, and mitigation. Minister of State for Environment, Forests and Climate Change Kirti Vardhan is expected to participate in the High-level Segment at COP29 on November 18-19.
India could lose a quarter of its economy by 2070 ¨C here¡¯s why
India faces significant risks from climate change, including sea-level rise, extreme heat, and severe flooding, which is set to have a disastrous impact on its GDP and worker productivity.
A 4.7-degree rise in temperature will make Indian economy sweat, ADB report reveals
A recent ADB report predicts that India could face a 24.7% GDP loss by 2070 due to climate change, with overall regional losses reaching 16.9%. Labor productivity, energy demands, and flooding are key factors contributing to these losses. The report underscores the urgent need for significant investment in climate adaptation, estimating annual costs of $102 billion to $431 billion across Asia-Pacific. Immediate action is critical to mitigate these impacts and achieve net-zero emissions by 2070.
Harness existing digital infrastructure to tackle climate issues: Nandan Nilekani
Nandan Nilekani, at Beckn Node Zero 2024, emphasized leveraging India's Direct Benefit Transfer infrastructure for climate action payments. Highlighting the urgency of climate issues, he discussed the potential of decentralized financial systems and open networks to revolutionize climate challenges. The event united industry leaders to explore these solutions.
Building trust and inclusivity in AI-Driven climate action
With rising awareness about the impacts of AI on people and the planet, AI solutions for climate action must be grounded in the needs of communities affected by climate change and driven by inclusive, participatory processes.
FM Nirmala Sitharaman bats for new collective climate action goal
The minister underscored the need for an effective collaboration between developed and developing countries on the UN Framework Convention on Climate Change and the Paris Agreement, adhering to "the principles of equity and common but differentiated responsibilities", according to a finance ministry post on microblogging platform X.
India's emissions rose by 6.1% in 2023, but historical contribution stands at only 3%: UN study
India's greenhouse gas emissions rose by 6.1 per cent in 2023, making up 8 per cent of the global total, according to a UN report. However, India historically contributed only 3 per cent to global CO2 emissions. The report calls for urgent global action to close the gap between climate pledges and actual results.
Rich nations must provide finance and tech to fight climate change: Bhupender Yadav
Union Environment Minister Bhupender Yadav emphasized that developed countries should lead in climate action, providing financial and technological support to developing nations. He highlighted India's contributions under Prime Minister Modi and stressed the importance of fulfilling the USD 100 billion annual climate finance pledge made by developed countries, which remains unmet.
Pakistan secures USD 10 million in funds for climate solutions
Islamabad secures USD 10 million climate finance to enhance water resource management in the Indus River using nature-based solutions. The SAFER project, targeting women, children, and youth, is set to roll out across Gilgit-Baltistan, Khyber Pakhtunkhwa, and Sindh over the next three-and-a-half years.
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