Page 8 - Climate Change

Scaling RE beyond 1,500 GW to face significant challenges, says study

India needs to install around 7,000 gigawatts (GW) of renewable energy capacity to achieve net-zero emissions by 2070 but deployment beyond 1,500 GW could face critical challenges, including climate risks, high land prices, land conflicts, and population density, according to a new study. The study by independent think tank Council on Energy, Environment and Water (CEEW) is the first of its kind to map India's renewable energy and green hydrogen potential by analysing the entire country's landmass and applying real-world constraints. India has a renewable energy (RE) potential of over 24,000 GW and around 7,000 GW of installed capacity is required to achieve net-zero emissions by 2070. The fast-developing South Asian nation currently has an installed RE capacity of 150 GW, and the study says that the constraints are relatively manageable up to 1,500 GW. Arunabha Ghosh, the CEO of CEEW, said, While our RE potential is vast, the road to net zero is fraught with challenges. From land

Union Bank of India becomes 1st major bank to become signatory of PCAF

Union Bank of India on Monday announced its decision to become a signatory to the Partnership for Carbon Accounting Financials (PCAF). This step aligns with the growing global emphasis on climate risk management and the recent draft guidelines issued by the Reserve Bank of India (RBI) on climate risk disclosures. PCAF is a global partnership of financial institutions working to develop and implement a harmonized approach to assess and disclose greenhouse gas emissions associated with loans and investments, Union Bank said in a statement. By joining PCAF, Union Bank of India demonstrates its commitment to measuring and managing its financed emissions, a crucial aspect of climate risk management for banks, it said. "Financed emissions, often referred to as Scope 3 emissions, represent the indirect emissions that result from a Bank's lending and investment activities. These emissions can significantly outweigh a Bank's operational emissions and pose substantial risks to its portfolio

Govt plans to use LNG for third of truck fleet, in blow to diesel

India, one of the biggest emitters of greenhouse gases, has set a 2070 net zero goal and wants to raise the share of natural gas in its energy mix to 15 per cent by 2030

Azure Power to prepay green bonds worth $310 mn maturing in December

Sustainable energy solutions provider Azure Power on Monday said it has issued a notice to prepay green bonds worth USD 310 million maturing in December 2024. The bonds (RG II) are backed by seven utility projects, originally commissioned between 2016 and 2019, a company statement said. The refinancing, valued at approximately Rs 24 billion, is structured as an INR Term Loan underwritten solely by REC Limited. The projects, with a total capacity of 615 MW, are spread across Punjab, Maharashtra, Uttar Pradesh, Andhra Pradesh, Gujarat, Karnataka, and Rajasthan. The green bonds were issued in 2019 for USD 350 million and are listed in Singapore. Azure Power Global Limited, a leading sustainable energy solutions provider and renewable power producer in India, issued a notice to prepay green bonds maturing in December 2024. "This refinancing reaffirms Azure Power's strong market position and our capability to raise funding at attractive terms," Sunil Gupta, CEO at Azure Power, said in

Nabard to tap global agencies to set up carbon fund: Chairman Shaji K V

According to a recent study by the Coalition for Disaster Resilient Infrastructure (CDRI), globally, assets worth nearly $800 billion are getting affected on an annual basis due to climate change

Majority of India need to calibrate infra to mitigate climate impact: ESRI

Over 85 per cent of Indian districts are prone to at least one major climate event like flood, drought, cyclone or heat wave, and they need to calibrate existing infrastructure to mitigate the losses and handle threats arising out of climatic changes, a report by GIS software firm ESRI India and IPE-Global said on Friday. IPE Global, along with GIS software company ESRI India, launched a tool to help local authorities take appropriate action in mitigating the impact of natural calamities, especially floods. "85 per cent of Indian districts are prone to at least one of the major extreme weather patterns, which are floods, flood, drought, cyclone and heat waves. Cities will have to look at ways to manage changes that are happening in climate. Their infrastructure has to go through a revamp so that urban flooding can be minimised," ESRI India Managing Director Agendra Kumar said during the report launch. More than 60 per cent of districts in Bihar, Andhra Pradesh, Odisha Gujarat, ...

ADB to devote half of its annual lending to climate finance by 2030

The new strategy comes nearly a year after ADB approved reforms to unlock $100 billion in new financing capacity over a decade, meeting a mandate from U.S. Treasury Secretary Janet Yellen

Research for climate-resilient milch cattle takes a vast step forward

In a bid to keep milk flowing amid severe heatwaves, NDRI develops genetically edited embryo of buffalo

India provided more climate finance than many rich nations in 2022: Report

India contributed USD 1.28 billion in climate finance through multilateral development banks (MDBs) in 2022, surpassing the contributions of many developed countries, according to a new analysis. The analysis, conducted by the UK-based think tank ODI and the Zurich Climate Resilience Alliance, comes amid a renewed push by some developed countries to broaden the donor base for climate finance to include developing countries like China and Saudi Arabia. The report reveals that only 12 developed countries provided their fair share of international climate finance in 2022. These countries are -- Norway, France, Luxembourg, Germany, Sweden, Denmark, Switzerland, Japan, the Netherlands, Austria, Belgium and Finland. Researchers noted that the significant gap in climate finance is largely due to the United States failing to contribute its fair share. Australia, Spain, Canada and the United Kingdom also performed relatively poorly in this regard. The analysis has identified the top 30 ...

Climate change, natural disasters put voting rights at risk: Nepal PM Oli

Nepal Prime Minister K P Sharma Oli on Wednesday emphasised that unpredictable weather patterns and natural disasters, exacerbated by climate change, can pose a significant threat to citizens' ability to exercise their right to vote, as he underscored the need for election officials to adapt and ensure the integrity of democratic processes. "Issues like climate change, migration and the rise of social media and the role of artificial intelligence are crucial for our democracies," Oli said at the inauguration of the 12th conference of the Forum of Election Management Bodies of South Asia (FEMBOSA) here. "Unpredictable weather patterns and natural disasters due to climate change threaten our ability to ensure that every citizen can exercise their right to vote...Climate change is not only an issue related to the environment, it touches every facet of our society," he said. "The movement of people across borders and within, and within our countries have profound implications for ...

FinMin to develop climate finance taxonomy in 6-10 months: DEA secy

Climate finance taxonomy is a set of guidelines that will help investors and institutions direct funds towards investments that will aid in tackling climate change

Toyo-India to do FEED for industrial carbon capture project for EET Fuels

EET Fuels, which owns and operates UK's Stanlow oil refinery, on Tuesday said it has appointed Toyo Engineering India Pvt Ltd to carry out the front-end engineering design (FEED) study for its industrial carbon capture project. EET Fuels is investing USD 1.2 billion over the next five years to decarbonise its Stanlow oil refinery in the UK. It is targeting a 95 per cent in emissions by 2030 through energy efficiency, carbon capture and fuel switching. "The company has appointed Toyo Engineering India Pvt Ltd (Toyo-India) (100 per cent subsidiary of Toyo Engineering Corporation, Japan) a leading engineering, procurement and construction company, to carry out the FEED phase - an integral part of the project management process," it said in a statement. Toyo-India will oversee design completion, project de-risking, detailed costing analysis and other vital work. Completion of FEED will enable the company to take final investment decision (FID) on the ICC project. Upon completion (expe

Kerala to develop local early warning systems for disasters: CM Vijayan

The Kerala government has decided to focus on scientific use of land and deployment of localised early warning systems as part of its efforts to tackle Wayanad-like landslides and other disasters in the future, Chief Minister Pinarayi Vijayan has said. He said the landslide forecasting systems were in the "infancy" stage and his government now wants to "strengthen" Kerala's institutes and departments meant for studying climate change by providing them enhanced manpower and modern equipments. More than 230 people lost their lives even as an equal number of body parts were found from under the debris and from the Chaliyar river after the worst-ever disaster of the state destroyed large tracts of three Wayanad villages-- Punchirimattom, Chooralmala and Mundakkai apart from some in Attamala when the disaster struck on July 30. Speaking to PTI during an interview over the weekend, Vijayan said, "In an era of climate change, fragility is a matter that needs to be balanced with respect to

Cabinet approves India's agreement with 14-member IPEF economic bloc

The Union Cabinet has approved the commerce ministry's proposal to sign the 14-member IPEF (Indo-Pacific Economic Framework for Prosperity) bloc's agreements on a clean and fair economy, an official said on Monday. In June in Singapore, 13 IPEF bloc members signed these agreements, while India said it would ink the deals after getting domestic approval. The official, who does not wish to be named, said that the proposal to sign these agreements has been approved by the cabinet in its meeting here on Monday. Agreement on a clean economy intends to accelerate efforts of IPEF partners towards energy security and transition, climate resilience and adaptation, GHG (greenhouse gas) emissions mitigation, finding/developing innovative ways of reducing dependence on fossil fuel energy, promoting technical cooperation, workforce development, capacity building, and research collaborations, and collaborate to facilitate development, access, and deployment of clean energy and climate-friendly ..

Global South cities have only 70% of cooling capacity as North ones: Study

Cities in the Global South are equipped with only about 70 per cent of the "cooling capacity" provided by urban greenery in cities in the Global North and are, therefore, are more vulnerable to extreme heat, a new research has found. As the planet warms, researchers said that rising temperatures, along with 'urban heat island' effects, make cities hotter than rural areas. As a result, heat-related illness and deaths in these areas are becoming more common. An international team, including researchers from the University of Exeter, UK, analysed satellite data on 500 of the world's largest cities to assess 'cooling capacity' -- how much do the urban green spaces cool down a city's surface temperatures? "Our analysis suggests green spaces can cool the surface temperature in the average city by about 3 degrees Celsius during warm seasons -- a vital difference during extreme heat," author Timothy M. Lenton, from the University of Exeter, said. "However, a concerning disparity is evident

Climate threat tops Pope Francis' Asia-Pacific foreign trip itinerary

Singapore has predicted its coastal waters could rise by more than a metre by the end of the century, piling pressure on its flood defences and threatening its low-lying land

Choco companies rely on developing cocoa substitutes other than cocoa beans

Climate change is stressing rainforests where the highly sensitive cocoa bean grows, but chocolate lovers need not despair, say companies that are researching other ways to grow cocoa or develop cocoa substitutes. Scientists and entrepreneurs are working on ways to make more cocoa that stretch well beyond the tropics, from Northern California to Israel. California Cultured, a plant cell culture company, is growing cocoa from cell cultures at a facility in West Sacramento, California, with plans to start selling its products next year. It puts cocoa bean cells in a vat with sugar water so they reproduce quickly and reach maturity in a week rather than the six to eight months a traditional harvest takes, said Alan Perlstein, the company's chief executive. The process also no longer requires as much water or arduous labour. We see just the demand of chocolate monstrously outstripping what is going to be available, Perlstein said. There's really no other way that we see that the world .

Developed economy should also be developed ecology: Environment minister

Union Minister for Environment, Forest and Climate Change Bhupender Yadav on Saturday said there is a need to balance economic development of the country with ecology, as both are interconnected. Human-centric approach to development is insufficient, he said, speaking at an event at the Indian Institute of Technology (IIT) Bombay -- Ideas4LiFE - Lifestyle for Environment' -- that aims to inspire innovative environmental solutions. "A developed economy should be a developed ecology too....there is interconnectedness between all life forms. Life extends beyond human needs, therefore, there should be harmonious coexistence of all living beings and the environment," the minister said. Ideas4LiFE - Lifestyle for Environment' has been organised in collaboration with the Maharashtra Environment Department to engage students, faculty and researchers nationwide in generating ideas promoting an eco-friendly lifestyle. The minister further urged students to embrace environmental consciousness

Sustainable development key to tackling climate threats: V-P Dhankhar

Sustainable development is the only way to deal with the challenges of climate change, biodiversity loss and resource depletion, Vice-President Jagdeep Dhankhar said on Saturday. Addressing scientists, faculty and students of CSIR-Indian Institute of Petroleum (IIP), Dhankhar said collaborative solutions were needed to address the challenges that threatened "our very existence". "The challenges of today demand bold action and an institution like CSIR-IIP can serve as an effective platform for researching effective technologies that can help grapple with the challenges," Dhankhar said. The vice-president criticised people who were at one time in positions of authority and governance for "subserving partisan interests and floating anti-national narratives". Dhankhar also condemned the observation that what was happening in the neighbouring country (Bangladesh) could happen in India as well. "How can anyone who has faith in the vibrant and robust democracy of the country subscribe to

Google-backed fund selects 4 Indian firms for AI-driven climate solutions

Four India-based organisations have been selected among 14 recipients across the Asia Pacific region for grants under the APAC Sustainability Seed Fund 2.0, supported by a USD 5-million grant from Google.org, the tech giant's philanthropic arm. The fund, managed by Asian Venture Philanthropy Network (AVPN), aims to foster technology- and AI-driven solutions addressing critical environmental and social challenges. The Indian recipients include INREM Foundation, CEPT Research and Development Foundation (CRDF), Institute for Financial Management and Research (WELL Labs), and Gujarat Mahila Housing Sewa Trust (MHT), Google.org said in a statement. INREM Foundation will develop AI-enabled open digital solutions for community access to water contamination data. CRDF plans to use machine learning and satellite imagery to protect lakes and their carbon sink function. WELL Labs will develop advanced models for village-level water security insights, while MHT will create an AI-powered model t