Page 20 - Climate Change

Netherlands Tata Steel plant forces choice between public health or economy

Locals have voiced concerns about the factory's pollution for decades. However, it was only in September that the Dutch national public health agency first established a direct link

Sustainable debt management on agenda for NITI's global green push

Report on G20 deliberations says credit rating agencies should be regulated for fair assessments of emerging countries

Lessons from 2023 and pointers for 2024

In an era of AI and geopolitical transformation, we may find ourselves feeling nostalgic about 2023 as the new year unfolds

1.5 degrees Celsius climate goal: Relevance, current warming scenario

Here's a lowdown on origin, measurement, and current status of the global temperature rise target in the aftermath of COP28

How to assess the outcome of COP28

This year's UN Climate Conference, hosted by a petrostate and led by a fossil-fuel CEO, defied expectations with new commitments

Ports shipping lines may charge more for fighting climate change

The global shipping industry that is responsible for about 3 per cent of the global GHG emissions and carries nearly 90 per cent of international cargo is one such

'Avoid unilateral barriers' call a win for India at COP28 climate summit

Another senior negotiator revealed that the target of this crucial inclusion in the global stocktake text was not just the CBAM, but also the Inflation Reduction Act of the US

BluPine Energy ties up Rs 511 crore green loan for Gujarat solar project

Renewable energy services firm BluPine Energy has tied up a Rs 511 crore green loan for its 120 MW solar project in Gujarat. The green loan financing for the project has been secured through leading global banking institution Standard Chartered, a company statement said. "With a green loan valued at Rs 511 crore (USD 62 million), this visionary project not only contributes to India's ambitious clean energy goals but also highlights our unwavering dedication to innovation and environmental responsibility," Sanjeev Bhatia, CFO of BluPine Energy, said in the statement. "We are happy to announce the successful financial closure of our first 120 MW solar project in Gujarat," he added. The company stated that the total investment for this project is valued at Rs 665 crore (USD 80 million). Upon completion, the solar plant is expected to generate about 3.23 lakh MWH of solar energy annually, offsetting an estimated 2.96 lakh tons of CO2 and providing power to approximately 2.7 lakh ...

Developed India would have to solve pollution, climate change challenge

India's attempt to reduce poverty with high economic growth will be compromised if it is unable to provide better living spaces, writes Amarjeet Sinha

LIVE: US Fed keeps key rates steady at 5.25-5.50%, signals 3 cuts in 2024

Catch all the latest updates from across the globe here

Making history, COP28 nations agree to 'transition away' from fossil fuels

Coal singled out for phasedown; India calls for climate equity and justice

Saudi registrants for COP28 included undeclared oil company employees

At least 15 people who registered for Saudi Arabia's delegation to the COP28 climate conference in Dubai appear to be undeclared employees of the Saudi state oil company, according to research by an environmental nonprofit. Saudi Arabia, the world's second-biggest oil producer, was one of the main countries opposing an aggressive commitment to phase out fossil fuels at the United Nations-led summit. Saudi Arabia and other large oil-producing nations have traditionally held sway in nixing potential agreements on reducing oil, gas and coal, which when burned cause climate change. This year, however, negotiators went into extra time before approving an agreement that calls for a transition away from fossil fuels for the first time, though critics say it is filled with loopholes. New rules for this year's talks required registrants to disclose their affiliation, a move aimed at improving transparency. Activists have long questioned the presence of fossil fuel producers at the talks, ..

2024: A gloomier world?

As economic woes and geopolitical tensions loom, brace for impact on climate, politics and beyond

UN COP28: Delegates sign deal to 'transition away' from fossil fuels

Negotiators at United Nations COP28 climate talks agreed on Wednesday that the world must transition away from planet-warming fossil fuels, a significant step toward shifting how the world is powered but one filled with questions about how soon and who will pay for the transition. COP28 President Sultan al-Jaber gaveled through the text at a plenary session in Dubai after more than two weeks of discussions that saw nations try and figure out a way for the world to stay in line with limiting warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) since pre-industrial times. Countries were split between those wanting strong language on a phase-out of fossil fuels and others who wanted some way to continue burning oil, gas and coal. The new compromise had been floated early Wednesday after a global rallying cry stronger than proposed days earlier, but with loopholes that upset critics. The new proposal doesn't go so far as to seek a phase-out of fossil fuels, which more than 100 natio

COP28: Nations inch closer to historic deal on fossil fuel transition

After nearly two weeks of hectic negotiations, countries on Wednesday were on the verge of reaching a historic deal on a 'transition away from fossil fuels' while emerging economies like India and China strongly opposed the targeting of coal. This marks a step back from the earlier proposal of a 'phase-out of fossil fuels' that drew sharp criticism from many countries in the Global South and oil-reliant economies like Saudi Arabia. A draft cover decision of the Dubai climate talks released early in the morning called for a "deep, rapid, and sustained" reduction in planet-warming greenhouse gas emissions in line with 1.5 degree Celsius pathways in a "nationally determined" manner, taking into account the Paris Agreement and their different national circumstances, pathways, and approaches. It lays an eight-point plan to achieve this, including a "transition away from fossil fuels" in energy systems in a "just, orderly and equitable manner", accelerating action in this decade, to achie

COP28: Nations strain for consensus as climate talks stretch into overtime

Hectic negotiations continued behind closed doors at the Dubai Expo City Centre long after the 11 am deadline, with officials trying to find common ground on key sticking points, including finance and fossil fuels. Around 10 pm, a COP28 spokesperson updated the media that consultations will continue until 3 am (Dubai time), which effectively means a plenary session to adopt a deal could be held in the morning. "Overnight and throughout today, the COP28 President and his team have been engaging in extensive consultations with a wide representation of negotiating groups and Parties. This is to ensure everyone is heard, and all views are considered. He is determined to deliver a version of the text that has the support of all Parties," the spokesperson said. Released after 11 days of intense negotiations, Monday's draft deal exposed stark disparities in the expectations of both developed and developing nations. Rich countries, such as the US, Australia, New Zealand, Japan, and the ...

Adani Group to invest $100 billion in the next decade for energy transition

The company said Adani portfolio businesses have an active strategy to decarbonise, pledge to plant 100 million trees by 2030, and undertake innovative pilot projects

Climate talks enter last day with no agreement in sight on fossil fuels

Hopes for finishing a critical climate summit on time were fading early on Tuesday as countries were still far apart on key issues, including an agreement on what to do about the fossil fuels that are causing dangerous global warming. The United Nations-led summit known as COP28 was scheduled to end around midday after nearly two weeks of speeches, demonstrations and negotiations. But the climate talks often run long, and Monday's release of a draft agreement angered countries that insist on a commitment for rapid phase-out of coal, oil and gas. Instead, the draft called for countries to reduce consumption and production of fossil fuels, in a just, orderly and equitable manner. Tina Stege, climate envoy for the Marshall Islands, ridiculed the document as a meaningless wish list that questions the science" and said it doesn't address the Paris agreement goal of limiting warming to 1.5 degrees Celsius (2.7 Fahrenheit) to stave off the worst effects of climate change. Earth is on its w

Best of BS Opinion: After 370, The safe bet of underground mining & more

Here is the best of Business Standard's opinion pieces for today

UAE trying nearly 90 detainees on terror charges during COP28: Report

The United Arab Emirates is conducting a mass trial of nearly 90 prisoners on terrorism charges as it hosts the United Nations' COP28 climate summit, including one man whose case was highlighted by demonstrators at the negotiations, an activist organization reported Monday. Emirati authorities did not immediately respond to questions over the report by the Emirates Detainees Advocacy Center, a group run by Emirati Hamad al-Shamsi, who lives in exile in Istanbul after being named on a terrorism list by the UAE himself. The state-run WAM news agency also has not run a report on the trial. Al-Shamsi gathered the information from multiple individuals with direct knowledge of the trial. Those on trial face charges of establishing a terrorist organization, supporting and financing it, the center said in a statement. The center is highly troubled by the UAE's apparent fabrication of new charges to extend the sentences of those already released, reflecting the Emirati authorities' ongoing .