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More than 13.5 million deaths due to air pollution could be avoided by 2050 under climate action that limits global warming to 2 degrees Celsius, mostly in low and middle-income countries, according to a new study. Researchers, including those from The University of Texas at Austin, US, said that the amount of health benefits and how they are distributed across the countries would depend on how climate mitigation is shared globally. The analysis, published in The Lancet Global Health journal, shows that under a least-cost approach -- where emissions are cut wherever cheapest to do so -- LMICs shoulder a significant share of the mitigation effort but also reap the largest air quality benefits. However, wealthier nations bearing more of the climate mitigation effort under an 'equity-based approach' could result in LMICs paying less, but may avert nearly four million fewer premature deaths, because less fossil fuel reduction occurs where air pollution is the worst, the researchers ...
India faces global challenges in climate finance and relying solely on domestic resources will not be sufficient, the Economic Survey on Thursday warned, suggesting mobilising private sector finance. Critical areas, including adaptation, financing for micro, small, and medium enterprises (MSMEs), urban infrastructure, and hard-to-abate industries, remain "underfunded". Currently, about 83 per cent of India's finance for mitigation and 98 per cent of finance for adaptation is sourced domestically. "However, the gaps in available finance and the needs persist, relying solely on domestic resources will not be sufficient," the Survey warned. Although the country has successfully reduced its emissions intensity by 36 per cent since 2005 and achieved 50 per cent non-fossil power capacity ahead of schedule, climate finance remains skewed towards mature sectors such as solar, wind energy and energy efficiency, it said. International public sector climate finance at an affordable cost, is,
The EU has not provided any concessions to India on its carbon regulations in the trade pact, but has agreed that any relaxations granted by the 27-nation bloc to other countries under the CBAM provisions will automatically extend to Indian exporters, an official said on Tuesday. The free trade agreement also provides for a rebalancing of rights in case the EU's measures under this regulation impair pact benefits to Indian firms or if it fails to establish the grounds for the same. Carbon Border Adjustment Mechanism (CBAM) or the carbon tax, which came into effect on January 1, was one of the contentious issues of the trade pact between India and the European Union (EU). Under the mechanism, the EU will impose a carbon tax on goods such as steel, aluminium, fertiliser and cement as they emit carbon beyond a specified threshold during manufacturing. Presently, the tax applies to steel and aluminium products. "CBAM is a difficult issue. It is a horizontal regulation without any ...