Climate Change Tracker: 50 biggest economies give green covid recovery a miss
3 years, 9 months ago

Climate Change Tracker: 50 biggest economies give green covid recovery a miss

Live Mint  

In the immediate aftermath of the easing of global lockdowns last year, the United Nations had urged the world’s governments to re-build economies shattered by the covid-19 pandemic on the back of renewable energy. A new report published on 10 March by the Oxford University Economic Recovery Project and the United Nations Environment Programme, states that only 18% of recovery spending announced in 2020 by the world’s fifty biggest economies can be considered green. Evidence From 2020 And Pathways For Inclusive Green Recovery Spending analysed the covid-19-related fiscal recovery efforts announced by the leading economies, including India. According to the Global Recovery Observatory, of India’s $16 billion recovery spending policies, only 5% is in the form of green recovery.

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History of this topic

Coal to have significant place in India’s diversified energy basket: Eco Survey
5 months ago

Coal to have significant place in India’s diversified energy basket: Eco Survey

Hindustan Times  

India will target a diversified set of sources for energy security with a significant place for thermal power, including coal to provide base load, to minimise risks associated with systems while pursuing low-emission pathways in line with national commitments, said the 2023-24 Economic Survey Union finance minister Nirmala Sitharaman tabled in Parliament on Monday. “This will also include a significant …

Oil & Gas Companies Spend Only 4-8 pc of Capex on Greening Efforts
8 months, 4 weeks ago

Oil & Gas Companies Spend Only 4-8 pc of Capex on Greening Efforts

Deccan Chronicle  

Chennai: Indian oil and gas companies spent 4 – 8 per cent of their total capex on greening efforts in FY22 and FY23 against 20 -25 per cent spent by global companies. Indian oil and gas companies spent 4-8 per cent of their total capex on greening efforts such as carbon capture utilisation and storage, green hydrogen, battery and storage …

Business Matters | Why is the rising cost of coal-fired power plants good news for India?
1 year, 7 months ago

Business Matters | Why is the rising cost of coal-fired power plants good news for India?

The Hindu  

Why is the rising cost of coal-fired power plants good news for India? It said that achieving net zero – which India aims to reach by 2070 – will require adjustments to how people live, work, and move around—and some of these changes will be costly. First, India expects to increase investments in coal-fired power plants to help power economic …

Cost of India quitting coal is $900 billion, think tank says
1 year, 9 months ago

Cost of India quitting coal is $900 billion, think tank says

Associated Press  

BENGALURU, India — If India stopped burning coal tomorrow, over five million people would lose their jobs. But for a price tag of around $900 billion over the next 30 years, the country can make sure nobody is left behind in the huge move to clean energy to curb human-caused climate change, according to figures released by New Delhi-based think …

Cost of India quitting coal is $900 billion, think tank says
1 year, 9 months ago

Cost of India quitting coal is $900 billion, think tank says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. But for a price tag …

Going green: The Hindu Editorial on Budget 2023’s and India’s net-zero commitment
1 year, 10 months ago

Going green: The Hindu Editorial on Budget 2023’s and India’s net-zero commitment

The Hindu  

Finance Minister Nirmala Sitharaman’s latest Budget is noteworthy for the emphasis she has laid on the government’s commitment to move towards net-zero carbon emission by 2070. As an article presented at the World Economic Forum’s Annual Meeting in Davos last month notes, India holds the key to hitting global climate change targets given its sizeable and growing energy needs. Energy …

Govt allocate ₹35,000 crore for energy transition, achieve net-zero by 2070
1 year, 10 months ago

Govt allocate ₹35,000 crore for energy transition, achieve net-zero by 2070

Live Mint  

The issue of climate change is slowly coming into mainstream policies of the government. Union Finance Minister Nirmala Sitharaman on Wednesday announced the allocation of ₹35,000 crore in the Union Budget 2023 as a priority capital investment toward energy transition. “Green Growth” is a separate category in this year's budget that talks about India's vision for energy transition and sustainable …

Budget 2023 | What are the Centre’s initiatives for ‘Green Growth’ and energy transition?
1 year, 10 months ago

Budget 2023 | What are the Centre’s initiatives for ‘Green Growth’ and energy transition?

The Hindu  

In the bid to reduce the carbon intensity of the Indian economy, meet clean energy targets, and provide large-scale green job opportunities, Finance Minister Nirmala Sitharaman announced a slew of measures for “Green Growth” while presenting the Union Budget on Wednesday, including initiatives related to green fuel, green farming, green mobility, green buildings, and green equipment. The Minister listed “Green …

Economic Survey 2022-23 | India needs global finance to achieve climate goals
1 year, 10 months ago

Economic Survey 2022-23 | India needs global finance to achieve climate goals

The Hindu  

For India to meet its international “obligations” on curtailing greenhouse gas emissions, it must have access to “on-time” climate finance, technology, and access to critical minerals. Advanced economies ought to set examples of policy and “behavioural changes” that work in their countries and only then could they be emulated in developing countries, the Economic Survey said on Tuesday in a …

India’s energy future is looking green, report says
2 years, 2 months ago

India’s energy future is looking green, report says

Associated Press  

BENGALURU, India — India’s renewables sector is booming, with the country projected to add 35 to 40 gigawatts of renewable energy annually until 2030, enough to power up to 30 million more homes each year, a report said Thursday. The Institute for Energy Economics and Financial Analysis and Climate Energy Finance estimated that India, the third largest energy-consuming country in …

A squeeze on climate goals
2 years, 6 months ago

A squeeze on climate goals

Hindustan Times  

At the United Nations climate summit in Glasgow in November 2021, member countries reaffirmed the Paris Agreement’s goal of limiting the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5 °C. This, says an International Energy Agency report, could impact the profitability of the renewable energy industry and …

For India to Become Coal-free, Start with More Foreign Capital Flow to Green Sectors
3 years, 1 month ago

For India to Become Coal-free, Start with More Foreign Capital Flow to Green Sectors

News 18  

Progress, as the world has designed and defined it, requires material production which, in turn, requires energy. Those cities, the researchers wrote, “located 49 km from the nearest coalfield grew 21.1 percent faster after 1750 than cities located 85 km further away.” It is no wonder then, that in March this year, International Energy Agency chief Fatih Birol said it …

Developed Nations Must Finance Green Projects in Low-Income Countries: PM Modi
3 years, 1 month ago

Developed Nations Must Finance Green Projects in Low-Income Countries: PM Modi

The Quint  

Putting pressure on developing countries without providing them adequate financial assistance is an injustice itself, he added. More than a decade ago, at the Copenhagen Summit, it was agreed upon that by the year 2020, developed countries shall provide $100 billion dollars of aid to developing and underdeveloped countries to assist their climate projects. On the issue of climate finance, …

Developed nations must spend 1% of GDP to finance green projects in developing countries, says Narendra Modi
3 years, 1 month ago

Developed nations must spend 1% of GDP to finance green projects in developing countries, says Narendra Modi

Firstpost  

The Summit however ended with no time-bound agreements. Leaders recommitted to providing $100 billion a year to counter climate change, and pushing for greater vaccine equality to fight COVID-19 Asserting that India cannot ignore the neglect of climate finance, Prime Minister Narendra Modi said without concrete progress on it, pressuring the developing nations on climate action was “not justice”, as …

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow
3 years, 2 months ago

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow

Firstpost  

Global economic recovery means coal demand is likely to surpass its 2019 level and retain its crown of being the leading source of greenhouse gas emissions. While the Covid-19 pandemic initially caused a drop in greenhouse gas emissions as economic activity dropped, the pandemic may not have accelerated the shift to renewables: Renewables boom Renewables are now the number two …

Covid19 Recovery to Push Emissions to All-time High: International Energy Agency
3 years, 5 months ago

Covid19 Recovery to Push Emissions to All-time High: International Energy Agency

News 18  

The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday. “We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels in 2023, continuing …

Budget 2021 puts green recovery at the centre of policy framework
3 years, 10 months ago

Budget 2021 puts green recovery at the centre of policy framework

Deccan Chronicle  

The Union Budget 2021-22 presents a structured approach to put our country on the path of green recovery post the Covid-19 pandemic. It is marked by wisely planned investments in the control of air pollution, providing potable water, deep-sea biodiversity conservation and promoting renewable energy. The pillar on “Health and Wellness” has integrated air pollution management, waste and control of …

Indian green energy firms tasking deal advisors to call out China connection early
4 years, 2 months ago

Indian green energy firms tasking deal advisors to call out China connection early

Live Mint  

Even as they eagerly court investors, Indian green energy promoters now have a new task cut out for their deal advisors, to ensure no direct or indirect China connection in relation to these inbound funds, according to several developers currently in the process of raising funds. There is a growing premium on it at the start of the sale process …

UN chief urges India to quickly move to clean solar power
4 years, 3 months ago

UN chief urges India to quickly move to clean solar power

Associated Press  

NEW DELHI — India should commit to carbon neutrality by ending fossil fuel subsidies and investing in clean solar power as it mobilizes trillion of dollars to recover from the coronavirus pandemic, the U.N. chief said Friday. Secretary-General António Guterres said India is at a crossroads and should speed up its shift from fossil fuels to renewable energy by committing …

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