Global Climate Deal

Wealthy countries back raising COP29 climate deal to $300 billion

The summit had been due to finish on Friday but ran into overtime as negotiators from nearly 200 countries

COP29: India asks rich nations to keep climate adaptation commitments

India has called on developed countries to step up their support for climate adaptation in developing countries, saying the growing frequency and intensity of extreme weather events is putting the survival of people, especially in poor nations, at risk. Speaking at a high-level ministerial dialogue on adaptation on Tuesday, India highlighted that the developing world is disproportionately suffering from the impacts of climate change, which are largely the result of historical emissions by developed countries. The increasing frequency and intensity of extreme weather events are adversely affecting the lives and livelihood of those in the developing world, putting their very survival at risk, Indian negotiator Rajasree Ray said. India recalled that the UAE framework for global climate resilience adopted at COP28 last year emphasises the urgent need for enhanced support from developed countries. This mobilisation should go beyond the previous efforts, supporting the country driven ...

India highlights 4 important aspects of global climate action at COP29

India emphasised that this ambitious, action-oriented approach depends on bold commitments from parties responsible for leading economy-wide emission reductions

COP29: United Nations calls for urgent climate action, financial commitment

Soaring rhetoric, urgent pleas and pledges of cooperation contrasted with a backdrop of seismic political changes, global wars and economic hardships as United Nations annual climate talks began Monday and got right to the hard part: money. In Baku, Azerbaijan, where the world's first oil well was drilled and the smell of the fuel was noticeable outdoors, the two-week session, called COP29, got right to the major focus of striking a new deal on how many hundreds of billions or even trillions of dollars a year will flow from rich nations to poor to try to curb and adapt to climate change. The money is to help the developing world transition their energy systems away from planet-warming fossil fuels and toward clean energy, compensate for climate disasters mostly triggered by carbon pollution from rich nations and adapt to future extreme weather. These numbers may sound big but they are nothing compared to the cost of inaction, the new COP29 president, Mukhtar Babayev, said as he to

Global South must raise voice for ambitious new climate finance goal: India

India on Saturday said the Global South should collectively raise its voice for an ambitious new climate finance goal at the UN climate change conference in Azerbaijan's Baku. Addressing a session of the third Voice of Global South Summit, Union environment ministry secretary Leela Nandan said COP29 must deliver concrete commitments to halt global warming and ensure climate justice. "We must collectively raise our voices in Baku for a transparent, grant-based, concessional and ambitious new collective quantified goal," she said. Financial support to help middle-income and poor countries fight climate change will be at the centre of the UN climate conference in Baku, where world leaders will reach the deadline to agree on the New Collective Quantified Goal -- the new amount developed nations must mobilise every year from 2025 to support climate action in developing countries. Achieving a consensus will not be easy, given the disappointing progress made on the issue at the mid-year U

India exceeds G20 climate goals; PM Modi reaffirms net-zero future on I-Day

Speaking from the Red Fort on India's 78th Independence Day, PM Modi reaffirmed India's commitment to achieving 500 GW of non-fossil-based energy capacity by 2030

COP29 only chance to bridge climate action, finance gap: Commonwealth chief

The COP29 climate talks in Azerbaijan's Baku is the world's only chance to bridge the gaps in climate action and finance which is crucial to "rebuild trust" among countries and protect lives and livelihoods, Commonwealth Secretary-General Patricia Scotland has said. In an interview with PTI via Zoom, Scotland said it is important to have the fossil-fuel producers as allies in the fight against climate change. Azerbaijan, the host of this year's UN climate talks, is a small petrostate on the Caspian Sea. Nearly all of its exports are oil and gas. "We are nearing the cliff, the critical 1.5 degrees Celsius limit. In fact, some of our scientists say that we are there now. Our home, our planet, is literally on fire. Instead of action, we see the gaps in emissions, finance, and justice widening. It is our duty to bridge those gaps, and COP is our only chance. It comes at a moment of immeasurable urgency," Scotland said. She said rich countries promised to provide USD 100 billion (one ..

Dip in rain, sunshine hours in U'khand's Terai region over 40 yrs: Research

The Terai region of Uttarakhand has recorded a significant reduction in rainfall and a noticeable shift in temperature patterns over a 40-year period starting from 1981 and this might negatively impact crop production in the area, according to a new research. The research conducted by scientists at the G B Pant University of Agriculture and Technology in Uttarakhand found out that the minimum temperature in the region has risen noticeably, while the maximum temperature has not changed significantly, indicating a narrowing range of temperatures. This shift could cause crops to mature prematurely, leading to reduced crop yields, according to the study published in the "Mausam Journal" of the India Meteorological Department (IMD) last week. "The actual decrease in rainfall, sunshine hours and evaporation over 40 years in the Terai region of Uttarakhand is about 58.621 mm, 1.673 hour and 1.1 mm," the study said. The decrease in these climate factors could be attributed to reasons such

International Mountain Day 2023: History, theme, importance, quotes

International Mountain Day is a yearly celebration designated by the Unified Nations General Assembly. Since 2003, it has been observed annually to emphasise the importance of mountains in our lives

World religious leaders, scientists inaugurate 1st Faith Pavilion at COP28

World religious leaders, scientists and global political officials came together on the fourth day of the COP28 on Sunday for the inauguration of the first-ever Faith Pavilion to discuss the role of faith communities and religious institutions in addressing the climate crisis. Held under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, the inauguration was attended by Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence and Cardinal Pietro Parolin, Vatican Secretary of State, representing Pope Francis. The Grand Imam of Al-Azhar and Pope Francis addressed the audience virtually and highlighted the urgency for urgent action against climate change. The first-of-its-kind Faith Pavilion, which is co-hosted by the COP28 Presidency, the UAE Ministry of Tolerance and Coexistence, the Holy See, the United Nations Environment Programme (UNEP), the Muslim Council of Elders, and a coalition of faith partners, is dedicated to the engagement of

UN climate meetings structured to benefits richer, larger countries: Study

The UN COP climate meetings are organised in a way that benefits richer and larger countries at the expense of smaller and poorer ones, according to a study. The research by a team from the University of Leeds in the UK and Lund University in Sweden also labels the participating countries as either Radicals, Opportunists, Hypocrites or Evaders. Every year, the UN organises its global climate change Conference of the Parties, "COP," with the aim to create action to halt climate change and support those vulnerable to the effects of climate change. "Our analysis clearly shows that some groups are not heard or represented. The very structure of the COPs makes it almost impossible for smaller countries to voice their interests since they are not able to be present in all the parallel negotiations," says Lina Lefstad, a PhD student at Lund University and lead author of the study. The study, published in the journal Critical Policy Studies, is based on an analysis of fifteen previous ...

Consensus at Gastech conference on developing solutions to cut carbon

Senior ministers, business leaders, and global climate specialists have reached a consensus on developing new solutions to reduce carbon emissions and accelerate climate technologies at an ongoing conference and exhibition here. The Gastech 2023 conference featured a line-up of more than 600 speakers during the four-day event from September 5-8 in the city-state. It is the largest meeting place for the global natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies industries and saw 40,000 registered visitors, according to Gastech's website. Recognising that climate technology is a critical component of the world's decarbonisation efforts, Gastech's latest edition was expanded to include a dedicated Climatetech exhibition and conference programme. It brought together established energy players, policy analysts, investors, and Big Tech. "On the third day of Gastech 2023, senior ministers, business leaders, and global climate specialists reached a consensus on the

COP27 fails to turn off the oil tap as global production hits all-time high

The latest global climate summit has failed to even mention the reduction of fossil fuel usage, a key demand from India, in the final agreement text at Egypt

Draft COP27 climate deal shows inaction on loss and damage funding

A formal draft of an UN summit's climate deal that came out on Friday makes no mention of India's call for phase down of all fossil fuels. The draft showed little progress on key issues like loss and damage funding, adaptation fund replenishment and a new collective quantified goal on climate finance. It also omits references to the need for rich nations to attain "net-negative carbon emissions by 2030" and their disproportionate consumption of the global carbon budget, something that India and other poor and developing countries have stressed during the summit in Egypt. The 10-page draft document is a refined version of the 20-page "non-paper" or an informal draft published by the UN Framework Convention on Climate Change (UNFCCC) at the climate change conference COP27 on Thursday. The "draft text on COP 27's overarching decision" reaffirmed that limiting global warming to 1.5 degrees Celsius requires rapid and deep emission cuts. It puts a "placeholder" for funding arrangements

Best of BS Opinion: A healthy debate, trending declines, and more

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

Climate aid to developing nations to take a hit amid global headwinds

India had proposed a loss and damage fund last year, but the COP26 final text steered clear of it

Working to implement common KYC for financial transactions: FM Sitharaman

Says developed nations haven't done their bit on climate change

Global climate goal could be in peril without carbon price reform

A report by the High-Level Commission on Carbon Prices found carbon prices needed to be in the $50-$100 tonne range by 2030 to keep global heating below 2 degrees Celsius

Latest IPCC report calls for urgent climate adaptation measures: Experts

It also reconfirms for various stakeholders, including governments and the private sector, that 'the time to act is now'

Glasgow COP26: Climate deal sealed after late drama over coal

New draft retains call for reduced fossil fuel subsidies; poor nations seek funds to tackle climate change