Page 5 - Climate Finance

G20: India looks to forge alliance on fuels of future & climate finance

Among the fuels of the future are biofuels and hydrogen. India has already announced the creation of a Global Biofuel Alliance (GBA), of which the US would be the founding member

World Bank chief unveils plans to boost lending to tackle climate change

The new steps, still being discussed with shareholder countries, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade

Reimagining climate finance

To effectively facilitate a transition to climate-friendly development, global transfers must be tailored to each nation's specific needs

India, UAE ask developed nations to fulfill climate finance commitment

Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan on Saturday said there was an urgent need for developed countries to fulfil the USD 100 billion delivery plan to mitigate and adapt to the effects of climate change. In a joint statement on climate change issued after talks between the two leaders, India and the UAE highlighted the importance of the global stocktake (GST) of collective action to achieve the goals of the Paris Agreement and its successful conclusion at COP28 scheduled to be held in Dubai later this year. Modi congratulated the UAE for being selected as the host country of COP28 in 2023 and extended his full support to its incoming presidency of the climate conference. The Prime Minister thanked Sheikh Mohamed for the invitation to attend the COP-28. "I am thankful for your invitation and I always look for the chance to come here. I have decided to attend the COP-28 Summit in the UAE In the joint statement, both leaders urgently called

Bumpy ride ahead for green deposits with questions raised about workability

The RBI's framework for green deposits is well meant but raises many questions on its workability

G20 must prioritise climate finance

Funding is also needed for the International Monetary Fund, the Asian Development Bank, even the private sector, to preserve biodiversity

MDB reforms to facilitate climate financing: FM Nirmala Sitharaman

She emphasised the country's belief that the recommendations of the expert panel on the MDB's capital adequacy frameworks can significantly unlock development financing

G20 members stressed on raising climate finance to help farmers: Agri secy

The G-20 members stressed on the need to increase climate finance to help farmers take up adaptation measures in order to mitigate the climate change impact on the farm sector, agriculture secretary Manoj Ahuja said on Wednesday. Addressing media on the concluding day of the G20 first Agriculture Deputies' Meeting here, Ahuja said: "Climate finance was one of the issues which was discussed. The members felt that there was a need for an environment for increasing climate financing in terms of financing farmers for adaptation measures." The member countries also suggested that farmers can be incentivised if they are adopting climate friendly farming or green agriculture. One of the ways was carbon credit, he said. The G20 nations also shared their experience on the impact of climate change in agriculture, he added. Climate smart agriculture was one of the four priority areas discussed in the first Agriculture Deputies Meeting. The secretary said: "There was also discussion on the im

Bill Gates upbeat on climate innovation even if 1.5 deg C goal out of reach

Given "the overall scale of our industrial economy, we're going to have to do mind-blowing work to stay below 2 degrees," he said

COP15 adopts biodiversity reversal plan to save 30% of land, water by 2030

Montreal deal also aims to provide critical financing to developing world; draft calls for raising $200 billion by 2030 for biodiversity, with a plan that could provide another $500 billion

Top Headlines: Climate tariff walls, coffee diplomacy at G20 and more

Business Standard brings you the top headlines at this hour

G20 under India can make progress in debt relief, crypto: Gita Gopinath

Throwing light on the recent crypto meltdown, she said it was clear that internationally agreed standards of regulations had become necessary

G7 nations establish international climate club to fight global warming

The Group of Seven leading economies have created an open, international climate club for countries that want to cooperate in the fight against global warming, German Chancellor Olaf Scholz said Monday after a video conference with other G-7 leaders. Germany holds the presidency of the G-7 until the end of the year and then passes it on to Japan. Scholz said the new forum group is not intended to be a G-7 initiative; rather, it is to be a global undertaking. "With the climate club and the socially just transition of our industries toward climate neutrality, we are making an important contribution to achieving global climate targets," the chancellor said. The climate club aims to support the rapid and ambitious implementation of the Paris Agreement, which seeks to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), according to the German government. Monday was the seventh anniversary of accord's adoption. The club will work to help accelerate the industrial ...

Tamil Nadu to achieve carbon neutrality before India's 2070 target: Stalin

State govt has set up the Tamil Nadu Governing Council on Climate Change, the first such to be headed by a CM

How world's oldest digital currency could solve climate change crisis

But what if there was an overlooked digital currency that could help to solve the climate crisis, rather than just doing less to exacerbate it?

Dovetail climate finance with sustainable development goals: India at G20

At the first meeting of the G20 Sherpas, India on Monday proposed dovetailing climate action with sustainable development, making a clear bid to bring issues facing the emerging economies and the global south in sharp focus on the world stage. The discussions on Monday focussed on technological transformation in the digital economy, health and education, green development and India's Lifestyle for Environment (LiFE) initiative. Initiating the discussions, India's G20 Sherpa Amitabh Kant made a strong pitch for working together through hope, harmony and healing to deal with the global challenges, with a focus on developing countries and the global south whose voice is often unheard. At least two officials said the meetings were held in a cordial atmosphere with no direct reference to the ongoing Ukraine conflict. "References to Ukraine were mostly in the context of its impact on global supply chains, high energy costs, and food security," a senior official said. On Sunday, Kant fla

Rooting for mangroves: Many reasons to expand these carbon sinks in India

The mangrove ecosystem offers economic benefits besides safeguarding the country's vast coastline

India's G20 Presidency will be positive, forward-looking, says Amitabh Kant

Talking about yesterday's event on sustainable development goals in the era of multiple crises, the G20 Sherpa added the session focused on women's leadership and climate finance

Green pathways present a $1.6-trn investment window: World Bank report

The report also suggests adopting climate-responsive cooling techniques in both private- and government-funded constructions

What is climate finance?

Every year, leaders from over 200 nations come under one roof and debate to find out how much the developed nations will contribute towards the climate fund. But what exactly is this fund?