Page 75 - Climate Change

India committed to COP27 under Egyptian presidency: Jaishankar to Prez Sisi

External Affairs Minister S Jaishankar on Sunday held discussions with Egyptian President Abdel Fattah El-Sisi and highlighted India's commitment to the success of COP27 under the Egyptian presidency

Plastic pollution in US could trigger $20 bn in payouts over next 8 yrs

Litigation could cost the plastics industry and its insurers $20 billion in the US over the next eight years, according to a report backed by the United Nations and an Australian billionaire

Climate protesters throw soup on Van Gogh's 'Sunflowers' in London

Climate protesters threw soup over Vincent van Gogh's "Sunflowers" in London's National Gallery to protest fossil fuel extraction, but caused no damage to the glass-covered painting. The group Just Stop Oil, which wants the British government to halt new oil and gas projects, said activists on Friday dumped two cans of tomato soup over the oil painting, one of the Dutch artist's most iconic works. The two protesters also glued themselves to the gallery wall. The soup splashed across the glass covering the painting and its gilded frame. The gallery said, "There is some minor damage to the frame but the painting is unharmed." It was cleaned and returned to its place in the gallery on Friday afternoon. The work is one of several versions of "Sunflowers" that Van Gogh painted in the late 1880s. London's Metropolitan Police said officers arrested two people on suspicion of criminal damage and aggravated trespass. "Specialist officers have now un-glued them and they have been taken into

Development banks pass climate 2019 goal, urged to help poor more

The world's top development banks provided more than $80 billion last year to help countries tackle climate change, passing a goal they set in 2019, according to a report published Friday. The European Investment Bank, or EIB, said it and seven other financial institutions committed almost $50.7 billion to low- and middle-income countries, and over $31 billion to rich nations in 2021. Multilateral development banks such as the EIB and the World Bank had pledged three years ago to collectively achieve those targets by 2025. Still, the banks have faced calls to step up their lending for climate projects even more, particularly to struggling economies which are unable to finance projects in other ways. United Nations Secretary-General Antonio Guterres said this week that development banks' current business models were painfully averse to risk. This causes projects such as renewable energy installation to be many times more expensive in poor countries than in rich nations, he said.

Climate activists throw soup on Van Gogh's 'Sunflowers' in National Gallery

The activists, who are a part of a group called "Just Stop Oil" wants the British government to halt new oil and gas projects

Poor nations to seek assistance for climate actions at COP27: LDC Chief

The chair of an influential negotiating bloc in the upcoming United Nations climate summit in Egypt has called for compensation for poorer countries suffering from climate change to be high up on the agenda. Madeleine Diouf Sarr, who chairs the Least Developed Countries group, told The Associated Press that the November conference known as COP27 should capture the voice and needs of the most climate-vulnerable nations and deliver climate justice. Sarr said the group would like to see an agreement to establish a dedicated financial facility that pays nations that are already facing the effects of climate change at the summit. The LDC group, comprised of 46 nations that make up just a small fraction of global emissions, negotiates as a bloc at the UN summit to champion the interests of developing countries. Issues such as who pays for poorer nations to transition to cleaner energy, making sure no communities get left behind in an energy transition and boosting how well vulnerable ..

Transition Bonds poised to hit $1.5 trillion: Climate Bonds Initiative

The market for these new securities is set to hit $1.5 trillion by the end of the decade, up from just $12 billion, according to the Climate Bonds Initiative, the world's No. 1 certifier of green debt

UN chief Guterres seeks early-warning coverage for global climate disasters

UN Secretary-General Antonio Guterres has said that he will soon launch a plan for universal early-warning coverage for climate disasters

Capital cost may rise as drivers of equities reverse: Report

Three decades have been benign for global equities, but that time is now changing

Half of world's coral reefs face climate change threat by 2035: Study

Under a worst-case scenario, half of the coral reef ecosystems worldwide will permanently face unsuitable conditions by 2035, if climate change continues unabated, according to a new study

Carbon credits imperative for climate positive plans: EKI Energy Services

EKI Energy Services on Monday welcomed the government's stance on carbon credits and said that carbon credits and its trade is an imperative for climate positive plans. Union Minister for New and Renewable Energy R K Singh on October 6, said that the government is taking measures to make India a market for carbon credit which will be utilised to meet the country's NDC goals. India has submitted its updated Nationally Determined Contribution (NDC) under the Paris Agreement to the UN Framework Convention on Climate Change, emphasising that it is a step forward towards its long-term goal of reaching net zero by 2070. "We are happy to hear that this matter finally has greater clarity by the Minister himself. Carbon credits and its trade is an imperative and integral part of any climate positive plans given its capabilities to control GHG (greenhouse gas) emissions," said Manish Dabkara, CMD & CEO of EKI Energy Services Ltd. This clarification will enable the entire industry ecosystem .

5th ISA Assembly to focus on energy access, security and transition

Meeting scheduled for October 17-20 in New Delhi under India's presidentship; ministers, missions and delegates from 109 member and signatory countries of ISA likely to participate

Graded Response Action Plan: Battling high air pollution in Delhi-NCR

As winter approaches, Delhi-NCR has been placed under the stage 1 measures of GRAP. Read more to find out what exactly is GRAP

Big emitters not acknowledging climate risks: Carbon Tracker Initiative

Of the 134 multinational companies responsible for up to 80 per cent of corporate industrial greenhouse gas emissions, 98 per cent did not provide sufficient evidence about climate-related matters

The high stakes of climate-risk accounting

Economists are lagging behind in quantifying the economic damages associated with rising seas and the many other interlinked risks accompanying climate change

Nestle to invest $1 billion towards sustainable coffee farming plan

The new plan builds on a previous coffee-sustainability effort that started 12 years ago involving around 100,000 farmers; the goal is to double that in the coming years

Greenwashing enters a $22 trillion debt market, derailing climate goals

Fashion giant Chanel, known for its iconic perfume and tweed suits, keeps up to date with changing tastes.

Google launches circular economy accelerator for Asia-Pacific start-ups

Applications for the program are open from October 4 to November 14 this year and the program will commence in February 2023

Trees becoming bulkier amid climate change, elevated CO2 levels: Study

The findings of new research have shown just how much the forests have been bulking up on that excess carbon

Climate change responsible for intensifying Hurricane Ian's rainfall by 10%

Climate change added at least 10% more rain to Hurricane Ian, a study prepared immediately after the storm shows. Thursday's research, which is not peer-reviewed, compared peak rainfall rates during the real storm to about 20 different computer scenarios of a model with Hurricane Ian's characteristics slamming into the Sunshine State in a world with no human-caused climate change. The real storm was 10% wetter than the storm that might have been," said Lawrence Berkeley National Lab climate scientist Michael Wehner, study co-author. Forecasters predicted Ian will have dropped up to two feet (61 cm) of rain in parts of Florida by the time it stopped. Wehner and Kevin Reed, an atmospheric scientist at Stony Brook University, published a study in Nature Communications earlier this year looking at the hurricanes of 2020 and found during their rainiest three-hour periods they were more than 10% wetter than in a world without greenhouse gases trapping heat. Wehner and Reed applied the sa