Page 5 - Climate Change

Increasing costs: The impact of climate change on output will be large

Over 90 per cent of solar projects in the country achieved investment-grade ratings by 2020, a significant improvement from 2012, when all solar projects were rated "non-investment grade"

Understanding the deadly floods that have taken over 200 lives in Spain

In a matter of minutes, flash floods caused by heavy downpours in eastern Spain swept away everything in their path. With no time to react, people were trapped in vehicles, homes and businesses. Many died and thousands saw livelihoods shattered. Four days later, authorities have recovered 205 bodies 202 of them in the eastern Valencia region, two in Castilla La Mancha and one in Andalusia. They continued to search for an unknown number of missing people on Friday. Thousands of volunteers were helping to clear away the thick layers of mud and debris that still covered houses, streets and roads, all while facing power and water cuts and shortages of some basic goods. Inside some of the vehicles that the water washed into piles or crashed into buildings, there were still bodies waiting to be identified. Here are a few things to know about Spain's deadliest storm in living memory: What happened? The storms concentrated over the Magro and Turia river basins and, in the Poyo riverbed,

India commits to 30% protected areas in updated biodiversity plan

India has launched its updated biodiversity action plan with a goal to protect at least 30 percent of its terrestrial, inland water, and coastal and marine areas by 2030, in line with global biodiversity targets. The updated National Biodiversity Strategy and Action Plan (NBSAP), unveiled at the 16th UN Biodiversity Conference in Cali, Colombia, outlines 23 national targets aligned with the 23 global goals set under the Kunming-Montreal Global Biodiversity Framework (KM-GBF), which was adopted at the 15th UN Biodiversity Conference in Canada in 2022. A key goal of the KM-GBF is to protect at least 30 percent of the world's land and ocean areas by 2030. It also aims to restore degraded ecosystems, such as forests, wetlands, and rivers, to ensure they continue providing essential resources like clean water and air. India, recognised as one of the 17 megadiverse countries, became a party to the UN Convention on Biological Diversity (CBD) in 1994. It harbours 7-8 percent of the world's

Global climate finance reached $1.5 trn in 2022, must rise fivefold: Report

Global investment in combating and adapting to climate change reached nearly USD 1.5 trillion, doubling between 2018 and 2022, but it must increase at least fivefold by 2030 to limit warming to 1.5 degrees Celsius, according to a new study. The "Global Landscape of Climate Finance 2024: Insights for COP29" report, published by global think tank Climate Policy Initiative (CPI), said climate finance currently represents only 1 per cent of global GDP, far short of the required level. Emerging markets and developing economies (EMDEs) may need around 6.5 per cent of their GDP by 2030 to meet climate goals. "While global climate finance has made some strides, a much more ambitious, cohesive, and effective approach is essential to address the vast funding gap," said Barbara Buchner, CPI''s Global Managing Director. "The data from CPI's Global Landscape report leaves no doubt that investment needs to scale across all fronts -- domestically, internationally, and across sectors -- to reach o

Climate change to put APAC GDP on thin ice with 41% melt by 2100

India alone could face 24.7% loss in GDP by 2070

Climate may keep changing long after humanity hits net-zero emissions

Global greenhouse gas emissions hit record highs in 2023. At the same time, Earth experienced its hottest year

Asia needs to spend more to adapt to climate change, limit damage: Study

Countries in Asia will suffer worse damage from the climate crisis than other regions and are falling far behind in spending on improvements to limit the damage and adapt to changing weather patterns and natural disasters, the Asian Development Bank said in a report released Thursday. The report said financing needs in developing Asian countries to cope with climate change range from USD 102 billion to USD 431 billion a year. That far exceeds the USD 34 billion committed to those purposes in 2021-2022, the Manila, Philippines-based regional development bank said. Developing Asia accounted for nearly half of all global emissions in 2021, the latest year for comprehensive data, with China accounting for two-thirds of that and South Asia nearly 20 per cent, the report said. That's because even though emissions per person remain far lower than in Europe, Japan and North America, it is the world's most populous region, home to about 70 per cent of all human kind. Most countries in the ..

Japan's Mount Fuji snowless in late October, breaking 130-year record

Typically, Mount Fuji sees its first snowfall by early October, with the last record set for October 26 in 1955 and 2016

Climate change drives sleep loss as temperatures increase at night

Eighth annual Lancet Countdown on health and climate change report, authored by 122 global experts, found that high temperatures, drought and heavy rainfall are increasingly impacting people's health

Infants, adults in India exposed to more heatwave days in last decade: Rpt

In India, over the last decade, infants and adults aged 65 or above were exposed to about eight heatwave days each year on average, increases of 47 per cent for infants and 58 per cent for older adults, compared to 1990-1999, according to a new report of The Lancet Countdown on Health and Climate Change. In 2023 alone, people in India were found to be exposed to a moderate or higher risk of heat stress for about 2,400 hours or 100 days, while performing light outdoor activities such as walking, the eighth annual report, reflecting the work of 122 experts from 57 academic institutions and UN agencies globally, including the World Health Organization (WHO) and the World Meteorological Organization (WMO), found. Published ahead of the 29th UN Conference of the Parties, or 'COP29', the report revealed a country-wise assessment of how climate change is affecting people's health. It showed that 10 of the 15 indicators that help track health threats to people around the world due to global

COP-16: World's 1st global ecosystem atlas unveiled; how will it help biz

The new initiative aims to help governments, businesses, financial institutions, and local communities to make informed decisions, support sustainability and manage risks

World may warm up to 3.1 degrees celsius on lack of climate action: UN

Continuing with current policies means world will be on course for temperature rise of 3.1C before the end of the century, while implementing promised reforms would at best lead to an increase of 2.6C

Avaana raises $135 mn for climate fund to fuel climate-tech startups

Avaana Capital, India's climate-focused venture capital firm, has managed to infuse Avaana Climate and Sustainability Fund with USD 135 million, thanks to support from renowned institutional investors, including the Green Climate Fund (GCF), said a senior official from the company on Wednesday. In a press statement, Anjali Bansal, partner at Avaana Capital, said, "The support we've received from leading global and domestic institutional investors underscores the importance of innovation in driving climate action and delivering long-term impact. The Avaana Climate & Sustainability Fund will help build the next generation of climate-first companies to transform key sectors and make meaningful progress toward a sustainable future." According to her, the fund focuses on three core sectors that account for 90 per cent of India's carbon emissions: Energy and Resource Management, Mobility and Supply Chains, and Sustainable Agriculture and Food Systems. Bansal said India is one of the ...

'Apolitical' Bill Gates donates $50 mn 'dark money' to NGO backing Kamala

Bill Gates has not publicly expressed his support for Kamala Harris, making this contribution a notable departure from his previously cautious approach to political donations

Differential exposure: How climate change hits the poor the hardest

Among Indian firms, the paper finds smaller non-agricultural firms are more exposed to flooding and heat than larger firms

What's on agenda at COP16 nature summit in Colombia: All you need to know

COP16 host country Colombia has put the inclusion of Indigenous and traditional communities at the center of its agenda in Cali

UN climate secy gives call to 'step up' climate finance ahead of COP29

At COP29 in Baku, all governments must agree on a new goal for international climate finance

Climate change affects the most marginalised, need to learn from past: CJI

The effect of climate change can be seen everywhere and it is affecting the most marginalised sections of society, including fisherfolk and farmers, Chief Justice of India DY Chandrachud said here on Saturday. Speaking at the release function of Goa Governor PS Sreedharan Pillai's book 'Traditional Trees of Bharat', the CJI also said the State as well as citizens will have to work together to protect, conserve and improve environment. "I was told it rained even yesterday in Goa. As children, we were told rain would fade away on Nariyal Poornima, when fisherfolk offer coconuts to the sea. But now, it rains in October and even in December. Climate change is not necessarily our doing," he said, adding it was inherited from previous societies who pursued industrial revolution leading to greenhouse gas emissions. "Climate change is not affecting just the affluent, it is affecting the most marginalised sections of society, like fishing communities and farmers. Our response to climate ...

Google to power AI data centres via nuclear power amid climate change woes

Google anticipates using 500 megawatts of nuclear power to run its operations, as global concerns over climate change intensify amid rising electricity consumption from AI and crypto technologies

IMF urges Pakistan to invest Rs 1.2 trillion a year for climate resilience

The International Monetary Fund (IMF) has urged Pakistan to invest one per cent of its GDP annually equivalent to over Rs 1.24 trillion based on current estimates in climate resilience and adaptation reforms to prepare for recurring extreme weather events, particularly floods, a media report said on Thursday. In a special policy advisory, the IMF noted that ongoing reforms under the Extended Fund Facility (EFF) including fiscal, labour market, trade, and state-owned enterprise (SOE) reforms could boost Pakistan's growth by 2 per cent over five years while significantly reducing inequality, Dawn newspaper reported. The Fund also highlighted that proactive investment in climate-adaptive infrastructure could reduce the negative growth impact of a natural disaster shock by one-third while ensuring a quicker and more complete recovery. The lender noted that about 1 per cent of GDP investment in adaptation infrastructure would increase Pakistan's climate resilience and buffer climate