Explore Business Standard
COP27
Lignite-to-power producer NLC India Ltd (NLCIL) will invest around Rs 50,000 crore to ramp up its renewable energy capacity from 1.43 GW to 10.11 GW. NLC India Green Energy Limited (NIGEL), a wholly-owned subsidiary of NLCIL, is established with special focus on renewable energy generation, an official statement said on Friday. "NLCIL aims to achieve a renewable energy (RE) portfolio mix of 50 per cent of its total planned capacity, increasing its RE capacity from 1.43 GW to 10.11 GW. "The above plan entails an investment of Rs 50,000 crore (approx) in renewable portfolio, which will support India's RE target and contribute to the broader aim of achieving 'net zero' emissions by 2070," the statement said. India is committed to a low-carbon emission path while pursuing its development goals, as pledged at COP 26. NIGEL aims to expand its portfolio by participating in competitive bidding and exploring emerging opportunities in the green energy sector. Currently, 2 GW of renewable en
What did India gain from COP28? Why has IT hiring slowed down? What does the Fed pivot mean for Indian markets? How is phase-out of fossil fuels different from phase-down? All answers here
India on Wednesday urged world leaders at the global climate talks COP28 to implement the Paris Agreement in letter and spirit through the Global Stocktake process while maintaining the focus on the principles of equity and climate justice. Speaking at the closing plenary of the COP28, where a historic climate deal that called for a transition away from fossil fuels was reached, Environment Minister Bhupendra Yadav said the collective efforts here have sent positive signals to the world in reinforcing commitment to maintaining the temperature goals set in Paris. The way ahead must be based on equity and climate justice, let us implement the Paris Agreement in letter and spirit through the Global Stocktake process, he said. Adopted after nearly two weeks of hectic negotiations, the first Global Stocktake deal, being termed the UAE consensus, urges countries to accelerate efforts toward the phase down of unabated coal power, which is a climb down after India and China strongly resiste
It's the killer detail in international climate talks: Consensus. With nearly 200 nations of different sizes, economies, political systems, resources and needs, they all have to find common ground if they are going to save the one common ground they share planet Earth. Consensus is frequently used to weaken efforts to curb climate change and experts say that's by design, dating back to oil interests and the first United Nations climate negotiations. Some veteran politicians would like to change it, while others embrace it as the only fair way to get things done. Whatever decision is taken can only be as strong as what the least ambitious (nations) are prepared to accept, said climate talks historian Joanna Depledge of Cambridge University. And we've seen that over the years. US Sen. Sheldon Whitehouse, a Democrat from Rhode Island, said the practise of requiring near-unanimity could be fatal: A small, self-interested minority of states cannot be allowed to block the progress ...
The first week of the COP28 global climate talks concluded with a significant milestone with the operationalisation of the Loss and Damage Fund, pledges of over USD 83 billion and the draft text for Global Stocktake mentioning phasing out of all fossil fuels for the first time in years. However, even as over USD 83 billion was mobilised in pledges questions persist about the voluntary nature of these commitments and the actual fulfilment by the participating nations. Amidst the discussions, the issue of fossil fuels emerged as a focal point, with a new draft text of the Global Stocktake proposing options for the phase-out of unabated coal and an orderly and just transition away from fossil fuels which might be a contentious point for India. India has repeatedly stressed that phasing out or phasing down coal language is something that it can't support. India even skipped signing the pledge to commit to tripling the global renewable energy capacity by 2030 over this. Over the reducti
As world leaders dwell on the language of the final outcome of climate talks, billionaire Gautam Adani on Tuesday made a pitch for adopting a balanced approach that takes into account energy costs and availability while continuing to accelerate on green ambitions. At the 28th UN Climate Change Conference in Dubai, called COP28, 118 governments pledged to triple the world's renewable energy capacity by 2030 but have not been able to arrive at the language to be used in the outcome document for cutting the share of fossil fuels in the world's energy production. "In the midst of initial encouraging signs from COP 28, it is relevant to remember that while in sum total (given our 1.4 billion population) we are the world's third largest primary energy consumer, our per capita electricity consumption @ 1250 kWh is still less than one-third of the global average and less than one-seventh of the developed world," Adani said in a post on X. India, he said, is also the only large nation ahead
Former US Secretary of State Hillary Clinton highlighted the critical need for gender-responsive climate policies, with a particular emphasis on the challenges faced by women in India. Addressing a session on Empowering Communities: Women at the Heart of Climate Resilience at global climate talks COP28 on Sunday, Clinton pointed out that extreme heat, largely driven by climate change, is a powerful and accelerating threat to livelihoods, human health, and our social fabric, and its impacts are disproportionately harmful and costly to women. She highlighted the critical need for gender-responsive climate policies, with a particular emphasis on the challenges faced by women in India. "So extreme heat has to be viewed as one of the most dangerous results of changing climate, especially in India. It is happening, and we know it's happening. And while we race to find big changes and transitions, we have to worry about what's happening on the ground with so many millions of people, ...
India on Sunday refrained from signing the COP28 Declaration on Climate and Health, with sources pointing out that curbing greenhouse gas use for cooling in the health sector, which is one of the points in the document, may not be practical or achievable within the country's healthcare infrastructure in the short term. The declaration calls for climate action to achieve benefits for health from deep, rapid, and sustained reductions in greenhouse gas emissions, including from just transitions, lower air pollution, active mobility, and shifts to sustainable healthy diets. On the occasion of the first Health Day at the 28th UN Climate Change Conference (COP28) on Sunday, the declaration expressed grave concern about the negative impacts of climate change on health. The declaration is signed by 124 countries till now with the US and India, which are among the top greenhouse gas emitters, absent from the list of signatories. The declaration, aimed at addressing the critical intersection
Prime Minister Narendra Modi on Friday proposed to host the UN climate conference in 2028 or COP33 in India and launched the Green Credit Initiative focused on creating carbon sinks through people's participation. Addressing the high-level segment for heads of states and governments during the UN climate conference in Dubai, he said India has presented a great example to the world of striking balance between development and environment conservation. India is one among only few countries in the world on track to achieve its Nationally Determined Contributions or national plans to limit global warming to 1.5 degrees Celsius, the guardrail to avoid worsening of climate change impacts. Modi was the only leader to join the opening plenary along with COP28 President Sultan Al Jaber and UN Climate Change President Simon Steill. The prime minister called for maintaining a balance between mitigation and adaptation and said that energy transition across the world must be "just and ...