Tag: COP 27

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India needs to add shine to its future

In a setting where India wishes to multiply its capacity by five times in the next seven years, it is faced with a production possibilities curve where a choice has to be made between solar power generation versus solar power generation through made-in-India cells at the other, writes Ajay Agnihotri

In his opening remarks at COP27, Antonio Guterres, the U.N. Secretary General, gave a warning – “We are in the fight of our lives, and we are losing. “We are on a highway to climate hell with our foot on the accelerator.”

There is no gain saying that there is a strong case for an enhanced thrust to renewal energy for reduction of the carbon footprint and attempt to slowing down the climate change. For India, it will come with the multiple benefits – reduced dependence on imports of oil and coal, reduced pressure of forex reserves, earning tradeable carbon credits and global leadership in fighting climate change.

India is blessed with a huge potential for harnessing solar power. India added a record 10 Gigawatt (GW) of solar energy to its cumulative installed capacity in 2021. This has been the highest 12-month capacity addition, recording nearly a 200 per cent year-on-year growth. India has now a cumulative installed solar capacity of 59 GW as on August 31, 2022. This is a milestone in India’s journey towards meeting the renewable target set for by 2030 and generating 50 per cent of it from solar power.

Solar power generation capacity in India is now contributing nearly 6.5 per cent of the global cumulative capacity of slightly over 700 GW. India generated over 70 billion units in the first nine months of 2022, an increase of 36 per cent over the corresponding period last year. However, the total generation of power is now over 1600 billion units and far more needs to be done quickly to increase share of solar. India has also achieved a record low tariff for solar power generation of Rs 1.99 per unit.

Domestic manufacturing capacities of solar cells and modules are far short of targets for solar power generation in the country. According to research published by Mercom India, domestic module manufacturing capacity was around 18-20 GW. In 2021-22, India imported nearly $76.62 billion worth solar cells and modules from China, accounting for 78.6 per cent of India’s total imports in the year.

Moreover, backward integration in the solar value chain is absent as India has no capacity for manufacturing solar wafers and polysilicon. Other ancillary industries such as for tempered glass, EVA sheets, Aluminium frames and junction boxes are in nascent stages.

In order to simultaneously achieve the objective of augmenting solar power generation, through domestically manufactured solar cells and panels, the Government raised customs duties on solar cells to 25 per cent and modules to 40 per cent. This move is retrograde since sufficient capacities for manufacture of solar cells are not likely to come on stream in the next 10 years. If India is to achieve a generation of at least 200 billion units in next 2 years unrestricted, duty free imports of PVs are a must.

This was, in manner of speaking, a classic case of “Guns Vs Butter”. In a setting where India wishes to multiply its capacity by five times in the next seven years, it is faced with a production possibilities curve where a choice has to be made between solar power generation versus solar power generation through made-in-India cells at the other. Despite the high rate of duties, the module manufacturers are not exactly competitive. The high rates of duty on solar cells have made module assembly expensive, leaving little or no incentive to procure domestically manufactured modules, which are as it is in short supply.

Either way, modules are now dearer, which eventually impacts the viability of projects awarded earlier and under execution. Industry found novel ways to combat this issue by resorting to an import route available under “project imports”, entitling imports of solar power plants at 5 per cent duty. The Finance Ministry promptly raised the duty to 7.5 per cent without any provisions for grand-fathering. Some developers took a punt by setting up solar parks as customs bonded warehouses, which allows for duty deferment but not exemption. It is quite a big financial exposure since duties are merely deferred and not exempted. However, the Finance Ministry promptly closed that route through issue of instructions to its field formations.

Mirzapur (Uttar Peadesh): Prime Minister Narendra Modi and French President Emmanuel Macron at the inauguration of the Solar Power Plant in Mirzapur, Uttar Pradesh on March 12, 2018. (Photo: IANS/PIB)

China virtually controls the solar market, producing 86 per cent of solar cells and two-thirds of modules produced globally. Knowing that building capacities will take time, countries are using regulatory innovation to augment solar power capacity. Recently, Biden invoked the Defence Production Act to waive tariffs on solar panels from Cambodia, Malaysia, Thailand and Vietnam to serve as a “bridge” till US ramps up manufacturing, (Reuters report dated June 7, 2022).

Given the strategic importance for solar power, there is a room for MNRE and Tax officials to go back to the drawing board for building the right road map for the healthy growth of the industry. Priority must be given to generating renewable energy. Stronger incentives are required to nurture and build capacities for the solar module and solar panels industry, even if that means allowing import of solar cells on zero or concessional duties. More importantly solar cell manufacturing industry has to be assured of tariff protection at the appropriate time.

Closer consultations with power producers and panel manufacturers will help in correcting anomalies in current tariffs, while also following a nurturing approach towards solar cell and ancillary industries. For example, the sudden removal of anti-dumping duty on solar glass has exposed a nascent industry to the onslaught of imports from China.

Achieving full scale backward integration and with it an export capacity in a globally emerging industry, requires strategic thinking and deftness in policy making. There is a need for devising a more realistic phased manufacturing programme.

(The author is a retired Indian Revenue Service officer)

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Climate warriors act against unresponsive governments

Thrissur: An aerial view of flood hit Kerala's Thrissur district on Aug 11, 2019. (Photo: IANS)

It seems that Climate Change is now gaining real traction and importance for the common people more and more, but our politicians are not ready to take any notice of these changes, which are going to have immeasurable negative impact on the lives of billions of people across the globe, writes Asad Mirza

After successfully getting a Loss and Damage Fund established, the climate change warriors have also launched legal actions against unresponsive governments.

It seems that Climate Change is now gaining real traction and importance for the common people more and more, but our politicians are not ready to take any notice of these changes, which are going to have immeasurable negative impact on the lives of billions of people across the globe.

Besides calls for wealthier nations to provide compensation to underdeveloped countries to cover the costs of severe damage and losses, citizens of some countries have also initiated legal proceedings against their governments for inadequately addressing the climate change fallouts.

The month of November saw two environment-related incidents taking place. First, at the latest COP summit at Sharm El-Sheikh in Egypt, termed as ‘Africa’s COP’, the voice of the most-vulnerable and most-affected countries was heard with an agreement to establish a loss and damage facility.

However, progress is still snail-paced in terms of raising ambitions to curb greenhouse gas emissions. Leaders attempted to keep that goal alive at the Egypt conference, but did not increase calls to reduce carbon emissions.

November also saw hundreds of activists, including Greta Thunberg, marching through the streets of Stockholm to a court to file a lawsuit against the Swedish government for what they claim is insufficient climate action.

People visit the Green Zone of the 27th session of the Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change in Sharm El-Sheikh, Egypt, Nov. 10, 2022. (Xinhua/Ahmed Gomaa/IANS)


Lawsuit by Swedish citizens

Over 600 young activists signed an 87-page document, which would serve as the foundation for the lawsuit, which was filed in the Stockholm District Court.

They want the court to rule that the country’s climate policies violate the human rights of its citizens. According to Anton Foley, spokesman for the youth-led initiative Aurora, which prepared and filed the lawsuit, Sweden has never treated the climate crisis as a crisis. Sweden is failing to fulfil its responsibilities and is breaking the law.

Earlier, in one of the most high-profile cases, Germany’s highest court ruled last year that the government’s climate targets must be adjusted to avoid undue burden on the young.

The German government responded by pushing back its target for net zero emissions by five years to 2045 and laying out more ambitious near and medium-term steps to achieve that goal.

What emerges from this is that people all across the world are increasingly becoming aware of the damages wrought by the Climate Change, and also understanding that who is the main culprit for unleashing this catastrophe, in pursuance of greed and lucre.

CO2 emissions from buildings, construction hit new high: Report.(photo:twitter.com/UNEP)



What is loss and damage?

The Alliance of Small Island States at international climate negotiations in Geneva in 1991, first introduced the concept of loss and damage, but it was not seriously considered again until 2013 at the COP-19 climate conference in Warsaw, Poland.

The Warsaw International Mechanism for Loss and Damage was created with the aim of enhancing knowledge of the issue and finding ways to approach it. There has been little progress since then.

The Glasgow COP, last year rejected a proposal made by members of the G-77 group of over a hundred developing countries and China for a formal loss and damage financial facility. Instead, in a bureaucratic manner, the Glasgow Dialogue was established for further discussion on the issue and it’s funding.

Critics have described the dialogue as “an excuse to delay further action.” It seems as if the rich countries are dragging their feet on financing any such endeavour.

While historically, between 1751 and 2017, the US, the European countries and the UK were responsible for 47 per cent of cumulative carbon dioxide emissions, as compared to just 6 per cent from the entire African and South American continents. Yet, the culprits have been slow to make financial contributions to ease the impact on the most affected countries.

In 2010, Global North nations agreed to pledge $100 billion annually by 2020 to help developing countries adapt to the impacts of climate change.

But according to the Organisation for Economic Cooperation and Development (OECD), which tracks funding, in 2020 wealthy countries pledged just over $83 billion. That was a 4 per cent increase on the previous year, but it still falls short of the agreed amount.

New Africa carbon markets initiative inaugurated at COP27.(photo: twitter.com/EnergyAlliance)


What’s the impediment?

Though in principle, developed nations acknowledge the need to address loss and damage, some amongst them argue for financing through existing climate funds, insurance schemes and humanitarian aid. Their reluctance is reflected in the European Union’s briefing, for example, which said that it was “open to discussing L&D (loss and damage) as a topic but hesitant about creating a dedicated L&D fund”.

Former British Prime Minister and WHO ambassador for global health financing, Gordon Brown has realistically opined that the announcement of the new initiative — the global loss and damage fund — to right historical wrongs by compensating climate-hit developing countries, might be a good feel factor but the real question is whether the developed world will really loosen its purse strings?

This breakthrough, he says, brought back memories of another initiative, the 100 billion pounds a year agreed at the 2009 Copenhagen climate summit to help poor countries mitigate the effects of the climate crisis.

Brown says further that that money has never fully materialised. If 13 years’ experience of the 100 billion pounds fund that never was is anything to go by, eulogies of praise will soon turn into allegations of betrayal. Far from the loss and damage fund narrowing the credibility gap on climate action, it is likely to bridge nothing if money fails to flow from rich to poor.

What is needed, however, is not less but more aid to help developing countries tackle the dramatic consequences of an unprecedented series of crises. Indeed, developing countries, unlike advanced economies, had no fiscal, monetary, or social space at the onset of these crises, to raise the issue.

One key priority for the global community should be not only to increase aid but also to make it much greener to help developing countries tackle the challenge of climate adaptation in an effective manner. Green aid encompasses financial and technical assistance to governments and direct investments in projects in both mitigation and adaptation to climate change.

(Asad Mirza is a political commentator based in New Delhi)

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COP27: India hails ‘loss and damage fund’

Minister stated that India welcomes efforts to address climate change. Addressing the Egyptian Presidency, Bhupender Yadav called it a “historic COP”…reports Asian Lite News

Union Minister for Environment, Forest and Climate Change Bhupender Yadav called COP27 a “historic COP” adding that “the world has waited far too long for the ‘loss and damage fund’ agreement.”

The minister was speaking at the closing plenary of the United Nations Climate Change Conference (COP 27) held today at Sharm El-Sheikh. In his remarks at the closing session of the COP27, Yadav welcomed the transition to a Sustainable Lifestyle and sustainable patterns of consumption.

He stated that India welcomes efforts to address climate change. Addressing the Egyptian Presidency, Bhupender Yadav called it a “historic COP” where an agreement was made for a “loss and damage funding” arrangement. He noted that the world has waited “far too” long for the loss and damage funding agreement.

“You are presiding over a historic COP where agreement has been secured for loss and damage funding arrangement including setting up a loss and damage fund. The world has waited far too long for this,” Bhupender Yadav said in his remarks at the closing session of the COP27.

“We congratulate you on your untiring efforts to evolve consensus,” he added.

Explainer: What India can expect at COP27 climate summit in Egypt?( https://www.facebook.com/COP27Egypt/)

Bhupender Yadav said, “We also welcome the transition to Sustainable Lifestyle and sustainable patterns of consumption and production in our efforts to address climate change in the cover address.”

He further said, “We note that we are establishing a four-year work programme on climate action, agriculture and food security. Agriculture, the mainstay of livelihood for millions of smallholders of farmers will be hard hit by climate change. So, we should not burden them with mitigation responsibilities.”

Yadav noted that India has kept agriculture”>mitigation in agriculture out of its NDCs. He announced that India is creating a work programme on just transition. Highlighting the importance of just transition, Union Minister for Agriculture said, “For most developing countries, just transition cannot be equated with decarbonisation but with low carbon development.”

In his remarks at the closing session of the COP27, Bhupender Yadav said, “Developing countries need independence in their choice of the energy mix and in achieving the SDGs. Developed countries taking the lead in climate action is, therefore, a very important aspect of the global just transition.”

Earlier, United Nations Secretary-General Antonio Guterres welcomed the decision to establish a “loss and damage fund.” In a video message to the 27th Meeting of the Conference of Parties to the UN Framework Convention on Climate Change, Guterres called the creation of a “loss and damage fund” an “important step” towards justice.

Guterres stressed that the decision will not be enough but noted that it is a “much-needed political signal to rebuild broken trust.” In his remarks, he expressed gratitude to the Egyptian government and COP27 President Sameh Shoukry for their hospitality. He appreciated the delegates and members of civil society who came to Sharm el-Sheikh to push leaders for climate action.

“The conference has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period,” Antonio Guterres said in the video message. “Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust,” he added.

On Sunday, the delegates at the COP27 agreed for establishing the “Loss and Damage Fund.” The “Loss and Damage Fund” will help to make up for the losses suffered by developing nations that are vulnerable to climate change. (ANI)

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Historic compensation deal approved at COP27

People visit the Green Zone of the 27th session of the Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change in Sharm El-Sheikh, Egypt, Nov. 10, 2022. (Xinhua/Ahmed Gomaa/IANS)

The plenary session approved the document’s provision to establish a “loss and damage” fund to help developing countries bear the immediate costs of climate-fuelled events such as storms and floods…reports Asian Lite News

Countries at the United Nations COP27 climate summit in Egypt have adopted a final agreement that establishes a fund to help poor nations cope with the extreme weather events caused by global warming.

Following tense negotiations that ran through the night, the summit’s Egyptian presidency released a draft text of the overall agreement early on Sunday and also called a plenary session to push the document through as the final, overarching agreement for the UN summit.

The plenary session approved the document’s provision to establish a “loss and damage” fund to help developing countries bear the immediate costs of climate-fuelled events such as storms and floods.

However, many of the more contentious issues regarding the fund were pushed into talks to be held next year, when a “transitional committee” will make recommendations for countries to then adopt at the COP28 climate summit in November 2023.

The recommendations will cover “identifying and expanding sources of funding”, which refers to the vexed question of which countries should pay into the new “loss and damage” fund.

Still, the adoption of the fund is a big win for poorer nations which have long called for financial compensation because they are often the victims of climate change – such as worsened floods, droughts, heat waves, famines and storms – despite having contributed little to the pollution that is heating up the planet.

“This loss and damage fund will be a lifeline for poor families whose houses are destroyed, farmers whose fields are ruined, and islanders forced from their ancestral homes,” said Ani Dasgupta, president of the environmental think-tank World Resources Institute, minutes after the early morning approval was announced.

Calls by developing countries for such a fund have dominated the two-week summit, pushing the talks past their scheduled finish on Friday.

“This is how a 30-year-old journey of ours has finally, we hope, found fruition today,” Pakistan Climate Minister Sherry Rehman said.

One-third of her nation was submerged this summer by a devastating flood and she and other officials used the motto: “What went on in Pakistan will not stay in Pakistan.”

Collins Nzovu, Zambia’s minister of green economy and environment, said he was “excited, very, very excited”.

“Very exciting because for us, success in Egypt was going to be based on what we get from loss and damage,” he said.

“This positive outcome from COP27 is an important step toward rebuilding trust with vulnerable countries.”

According to the agreement, the fund would initially draw on contributions from developed countries and other private and public sources such as international financial institutions.

While major emerging economies such as China would not initially be required to contribute, that option remains on the table and will be negotiated over the coming years.

This is a key demand by the European Union and the United States, who argue that China and other large polluters currently classified as developing countries have the financial clout and responsibility to pay their share.

The fund would be largely aimed at the most vulnerable nations, though there would be room for middle-income countries that are severely battered by climate disasters to get aid.

Experts said the adoption of the fund was a reflection of what can be done when the poorest nations remain unified.

“I think this is huge to have governments coming together to actually work out at least the first step of … how to deal with the issue of loss and damage,” said Alex Scott, a climate diplomacy expert at the think-tank E3G.

But, like all climate financials, it is one thing to create a fund and another to get money flowing in and out, she said.

The developed world still has not kept its 2009 pledge to spend $100bn a year in other climate aid – designed to help poor nations develop green energy and adapt to future warming.

“In many ways, we’re talking about reparations,” said University of Maryland environmental health and justice professor Sacoby Wilson.

“It’s an appropriate term to use,” he said, because rich northern countries had received the benefits of fossil fuels, while the poorer global south nations were suffering the effects of climate change.

Some delegates meanwhile said the approved deal does not do enough to boost efforts to tackle the emissions that cause global warming.

It did not contain a reference requested by India and some other delegations to the phasing down use of “all fossil fuels”.

It instead called on countries to take steps toward “the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies,” as agreed at the COP26 Glasgow summit.

The draft also included a reference to “low-emissions energy”, raising concern among some that it opened the door to the growing use of natural gas – a fossil fuel that leads to both carbon dioxide and methane emissions.

Norway’s Climate Minister Espen Barth Eide told reporters his team had hoped for a stronger agreement. “It does not break with Glasgow completely, but it doesn’t raise ambition at all,” he said.

ALSO READ-COP27: UN climate talks head into overtime

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Over 200 stakeholders to accelerate zero-emission transportation

People visit the Green Zone of the 27th session of the Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change in Sharm El-Sheikh, Egypt, Nov. 10, 2022. (Xinhua/Ahmed Gomaa/IANS)

Automakers with 2035 ICE phase-out targets account for 23 per cent of the market, up slightly from 19 per cent a year ago…reports Asian Lite News

The Accelerating to Zero (A2Z) Coalition was launched on Thursday, the next step in securing more ambitious commitments to a zero-emission vehicles transition aligned with the Paris Agreement.

Announced on Solutions Day at COP27, more than 200 stakeholders are signalling their commitment to a rapid transition to zero-emission transportation.

The A2Z Coalition connects the world’s leading organisations on zero-emission transportation, creating a platform to support in understanding, developing, and implementing ambitious zero-emission transportation policies and plans, and showcase leadership.

With transportation accounting for approximately 20 per cent of global greenhouse gas emissions, shifting the sector is crucial to meet the goals set by the Paris Agreement.

Over 200 organisations from governments, industry and civil society are joining together with support from the A2Z Coalition to accelerate the transition to zero emission transport.

The A2Z Coalition is a partnership of the UK government’s COP26 Presidency, The Climate Change High-Level Champions, the International Council on Clean Transportation, Climate Group, and the Drive Electric Campaign working towards all sales of new cars and vans being zero emission no later than 2035 in leading markets and 2040 globally.

A2Z Coalition’s partners also work on the acceleration of zero-emission medium and heavy duty vehicles.

The A2Z Coalition builds off the momentous foundation of the “Zero Emission Vehicles Declaration” (ZEV Declaration) generated at COP26 and hosted by the UK COP Presidency in collaboration with the High Level UN Climate Champions and the Climate Group.

Originally launched at COP26, at COP27, it brings together over 200 signatories from national and sub-national governments, vehicle manufacturers, NGOs, businesses, fleet owners, and others all committed to all new car and van sales being zero emission by 2035 in leading markets, and by 2040 globally.

Since COP26 there has been a global growth of 95 per cent across the electric vehicles market, yet climate experts say the world must accelerate the transition and the share of sales of electric vehicles will need to accelerate five times faster for passenger vehicles, 10 times faster for electric buses, and even more rapidly for freight.

BloombergNEF’s ZEV Factbook, published on Thursday, sounds a note of caution as progress on new commitments to zero-emission vehicles from both automakers and governments has slowed over the last year.

National ZEV targets and internal combustion engine (ICE) phase-out targets now cover nearly 41 per cent of the global passenger vehicle market by 2035, similar to a year ago.

Automakers with 2035 ICE phase-out targets account for 23 per cent of the market, up slightly from 19 per cent a year ago.

Nigel Topping, UN Climate Change High-Level Champion for the UK, COP26, said: “Accelerating the transition to a sustainable and clean transport sector should be a top priority for governments and businesses. We’re glad to launch the A2Z Coalition as a platform that builds on the positive momentum achieved by the ZEV Declaration to increase commitments and support the declaration signatories.

“We call on more non-state actors to come forward next year and make and implement ambitious commitments to transition to zero-emission vehicles and reap the benefits of cleaner air, jobs, economic growth, and keeping our Paris Agreement goals within reach.”

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COP27: Action plan launched to speed up decarbonisation

A man walks past a board showing the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) in Sharm El-Sheikh, Egypt, Nov. 5, 2022. (Xinhua/Sui Xiankai/IANS)

These measures are designed to cut energy costs, rapidly reduce emissions and boost food security for billions of people worldwide….reports Asian Lite News

Countries, including India, on Friday launched a package of 25 new collaborative actions to be delivered by COP27 to speed up the decarbonisation under five key breakthroughs of power, road transport, steel, hydrogen and agriculture.

Under the Breakthrough Agenda, countries representing more than 50 per cent of global GDP, set out sector-specific aPriority Actions’ to decarbonise power, transport and steel, scale up low-emission hydrogen production and accelerate the shift to sustainable agriculture by COP28.

These measures are designed to cut energy costs, rapidly reduce emissions and boost food security for billions of people worldwide.

The actions under each breakthrough will be delivered through coalitions of committed countries — from the G7, European Commission, India, Egypt, Morocco and others, supported by leading international organizations and initiatives, and spearheaded by a core group of leading governments.

These efforts will be reinforced with private finance and leading industry initiatives and further countries are encouraged to join.

The Priority Actions include agreements to: Develop common definitions for low-emission and near-zero emission steel, hydrogen and sustainable batteries to help direct billions of pounds in investment, procurement and trade to ensure credibility and transparency.

Ramp up the deployment of essential infrastructure projects, including at least 50 large scale net-zero emission industrial plants, at least 100 hydrogen valleys and a package of major cross-border power grid infrastructure projects.

Set a common target date to phase out polluting cars and vehicles, consistent with the Paris Agreement. Significant backing for the dates of 2040 globally and 2035 in leading markets will be announced by countries, businesses and cities on Solutions Day.

A man walks past a board showing the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) in Sharm El-Sheikh, Egypt, Nov. 5, 2022. (Xinhua/Sui Xiankai/IANS)

Use billions of pounds of private and public procurement and infrastructure spend to stimulate global demand for green industrial goods.

Systematically strengthen financial and technological assistance to developing countries and emerging markets to support their transitions backed up by a range of new financial measures, including the world’s first major dedicated industry transition programme under the Climate Investment Funds.

And drive investment in agriculture research, development and demonstration (RD&D) to generate solutions to address the challenges of food insecurity, climate change and environmental degradation.

ALSO READ: Loss & damage funding on COP27 agenda for first time

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COP27: UAE, Indonesia unveil Mangrove Alliance for Climate

MAC seeks to raise awareness about the role of mangroves as a nature-based climate change solution, and, through its members…reports Asian Lite News

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, on Tuesday announced the launch of the Mangrove Alliance for Climate (MAC). Led by the UAE and Indonesia, the initiative seeks to scale up and accelerate the conservation and restoration of mangrove ecosystems for the benefit of communities worldwide.

The announcement took place at the 27th UN Climate Change Conference (COP27), running in Egypt from 6th to 18th November. Five other countries – India, Sri Lanka, Australia, Japan, and Spain – have joined the Alliance.

MAC seeks to raise awareness about the role of mangroves as a nature-based climate change solution, and, through its members, will work towards expanding and rehabilitating mangrove forests globally.

Mangrove forests are among the most productive and ecologically important ecosystems on earth. They offer significant climate change mitigation and adaptation co-benefits, as they store carbon up to 400 percent faster than land-based tropical rainforests, protect coasts from rising sea levels, erosion, and storm surges, and provide breeding grounds for marine biodiversity. Around 80 percent of the global fish population depend on healthy mangrove ecosystems.

Mariam Almheiri said, “Increasing reliance on nature-based solutions is an integral element of the UAE’s climate action on the domestic as well as international level, therefore we seek to expand our mangrove cover. At COP26, we presented our ambitious target of planting 100 million mangroves by 2030.”

A man walks past a board showing the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) in Sharm El-Sheikh, Egypt, Nov. 5, 2022. (Xinhua/Sui Xiankai/IANS)

“We are pleased to launch MAC jointly with Indonesia, and believe it will go a long way in driving collective climate action and rehabilitating blue carbon ecosystems,” she added.

The Minister noted that the UAE intends to plant three million mangroves within the next two months.

At the MAC launch ceremony, the website https://mangrovealliance4climate.org, which features the alliance’s goals, work mechanisms, and a pledge form for members, went live.

MAC will follow a voluntary approach. Members can determine their own commitments towards planting and restoring mangrove forests, promoting multilateral cooperation, and sharing knowledge, while the Alliance will support their projects in the areas of mangrove research, management and protection of coastal areas, and educating the public about climate change mitigation and adaptation.

Collectively, members will demonstrate their dedication to maximising the potential of nature-based solutions through mangrove planting and conservation campaigns, enhance mangroves’ climate change mitigation capabilities through research and innovation, contribute to mangrove conservation worldwide through scientific and socio-economic studies, engage the community and the private sector in mangrove planting to expand blue carbon ecosystems, and step up concerted efforts to advance the global climate agenda.

MAC will feature multiple interactive platforms, including annual meetings to track progress in implementing its goals, drive cooperation between members, and approve annual reports.

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‘India is committed towards green and clean energy’

Yadav praised Saudi Arabia and Egypt for hosting the Middle East Green Initiative Summit 2022, an event that aims to bring countries from all over the world under one roof …reports Asian Lite News

India is committed towards clean and green energy sources, Union Minister for Environment, Climate Change and Forests Bhupender Yadav said on Monday.

Speaking at the Middle East Green Initiative Summit 2022, which is taking place in Egypt’s Sharm El-Sheikh on the sidelines of COP27, he stated that the National Hydrogen Mission is a leap in that direction.

Yadav praised Saudi Arabia and Egypt for hosting the Middle East Green Initiative Summit 2022, an event that aims to bring countries from all over the world under one roof to build the infrastructure necessary to cut emissions and safeguard the environment.

He commended them for the initiative, which aims to plant 50 billion trees across the region and will increase employment prospects and national resilience. He also appreciated Egypt’s efforts to achieve net-zero shipping through the generation of green fuels.

A man walks past a board showing the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) in Sharm El-Sheikh, Egypt, Nov. 5, 2022. (Xinhua/Sui Xiankai/IANS)

During his address, Yadav also said that India has come to COP27 with hopes and expectations that nations will implement their “enhanced commitments” speedily. This would make “tangible differences in the lives of the most vulnerable people,” he added.

He pointed out that India has highlighted the role of people on this planet to achieve the goals of combating climate change.

He continued by saying that as part of the UN’s Decade of Action for the SDGs, India had started a number of initiatives to promote resource efficiency and the circular economy, including waste management and prevention.

Union Minister Yadav also mentioned the International Solar Alliance, describing it as a testament to India’s goal of supplying cheap and clean energy.

He extended an invitation to other nations to join India-led initiatives like the Coalition for Disaster Resilient Infrastructure, which focuses on the easy and quick mobilisation of technology, finance, and necessary information for small island developing states, and the Leadership Group in Industry Transition (Lead IT) track, which includes Sweden and focuses on difficult-to-abate industrial sectors. (India News Network)

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COP27: New Africa carbon markets initiative inaugurated

New Africa carbon markets initiative inaugurated at COP27.(photo: twitter.com/EnergyAlliance)

ACMI announced a bold ambition for the continent, to reach 300 million credits produced annually by 2030. This level of production would unlock six billion in income and support 30 million jobs….reports Asian Lite News

Carbon markets offer an incredible opportunity to unlock billions for the climate finance needs of African economies while expanding energy access, creating jobs, protecting biodiversity, and driving climate action.

However, Africa currently produces only a tiny percentage of its carbon credit potential.

Led by a 13-member steering committee of African leaders, CEOs, and carbon credit experts, the Africa Carbon Markets Initiative (ACMI) was launched on Tuesday with the aim of dramatically expanding Africa’s participation in voluntary carbon markets.

The initiative was inaugurated at COP 27 in collaboration with The Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL), and the UN Economic Commission for Africa, with the support of the UN Climate Change High Level Champions — Mahmoud Mohieldin and Nigel Topping.

ACMI announced a bold ambition for the continent, to reach 300 million credits produced annually by 2030. This level of production would unlock six billion in income and support 30 million jobs.

By 2050, ACMI is targeting over 1.5 billion credits produced annually in Africa, leveraging over $120 billion and supporting over 110 million jobs.

Commenting on ACMI’s ambition, Damilola Ogunbiyi, the CEO of SEforALL and a member of the ACMI’s steering committee, said: “The current scale of financing available for Africa’s energy transition is nowhere close to what is required. Achieving the Africa Carbon Markets Initiative targets will provide much-needed financing that will be transformative for the continent.”

Crucially, ACMI is committed to supporting high-integrity credits where an equitable and transparent distribution of revenue goes to communities.

ACMI steering committee member and USAID Chief Climate Officer Gillian Caldwell noted: “The African voluntary carbon market will only succeed if people trust that African credits are driving real climate action and having a positive human impact. As the VCM scales in Africa, USAID and ACMI will ensure that it does so with integrity as a core pillar.”

To stimulate the production of high-integrity credits, the ACMI is collaborating with global integrity initiatives like the Integrity Council for the Voluntary Carbon Market (IC-VCM) and the Voluntary Carbon Markets Integrity Initiative (VCMI), as well as other regional carbon market platforms.

ACMI released Africa Carbon Markets Initiative, Roadmap report: Harnessing carbon markets for Africa at the initiative’s COP 27 launch event.

The report identifies 13 action programs to support the growth of voluntary carbon markets (VCMs) on the continent.

Although voluntary carbon markets are already growing quickly, retirements of African credits have grown by an average of 36 per cent annually over the past five years, aggressive action will be required to maintain this level of growth over the coming decades.

Multiple African nations, including Kenya, Malawi, Gabon, Nigeria and Togo, shared their commitment to collaborating with ACMI to scale carbon credit production via voluntary carbon market activation plans.

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At COP27, Sunak vows to triple funding for adaptation

The Prime Minister reflected on the fact 90 per cent of countries are now signed up to net zero targets even as he admitted the pandemic “all but broke” the global economy…reports Asian Lite News

Prime Minister Rishi Sunak on Monday declared that it was time to act faster on climate change because it is the “right thing to do” as he committed 11.6 billion pounds as the country’s commitment to the climate fund during his address at the COP27 summit in Egypt.

In his first major address on the world stage since taking charge at 10 Downing Street, the Indian-origin leader pointed to green energy investment as a “fantastic source of new jobs and growth” as he pledged to build on the “room for hope” created during the UK’s presidency of COP26 in Scotland last November.

He also used his speech to pay tribute to COP26 President, Indian-origin former minister Alok Sharma, “for his inspiring work” to deliver on the Glasgow climate pact of last year.

“[Russian President] Putin’s abhorrent war in Ukraine and rising energy prices across the world are not a reason to go slow on climate change – they are a reason to go faster,” said Sunak, in his relatively short address at the summit being held in Sharm El Sheikh.

“Instead of developing countries being unfairly burdened with the carbon debt of richer nations and somehow expected to forgo that same path to growth, we are helping those countries deliver their own fast track to clean growth,” he said.

Sunak referenced a speech by the late Queen Elizabeth II to the COP26 summit last year, where she said there was “hope” for the climate if countries come together.

“She reflected how history has shown when nations come together in common cause, there is always room for hope. I believe we found room for hope in Glasgow with one last chance to create a plan that would limit global temperature rises to 1.5 degrees, we made the promises to keep that goal within reach. And the question today is this – can we summon the collective will to deliver them? I believe we can,” he said.

The Prime Minister reflected on the fact 90 per cent of countries are now signed up to net zero targets even as he admitted the pandemic “all but broke” the global economy.

“But I can tell you today the United Kingdom is delivering on our commitment of 11.6 billion pounds, and as part of this we will now triple our funding on adaptation to 1.5 billion pounds by 2025,” he said, adding that he “profoundly” believed it is the right thing to do.

“Listen to Prime Minister Motley of Barbados as she describes the existential threat posed by the ravages of climate change, or look at the devastating floods in Pakistan where the area underwater is the same size as the entire United Kingdom.

“When you see 33 million people displaced, with disease rife and spreading through the water, you know it is morally right to honour our promises. But it is also economically right too. Climate security goes hand-in-hand with energy security,” Sunak said.

UK Prime Minister Rishi Sunak meets with leaders from other members of Just Energy Transition Partnership on the first day of COP27. Picture by Simon Walker No 10 Downing Street
UK Prime Minister Rishi Sunak addresses the UK chaired ‘Forest and Climate Leaders Summit’ event on the first day of COP27. Picture by Simon Walker No 10 Downing Street
UK Prime Minister Rishi Sunak meets the Chancellor of Germany Olaf Scholz on the first day of COP27. Picture by Simon Walker No 10 Downing Street
UK Prime Minister Rishi Sunak meets with the President of Israel Isaac Herzog on the first day of COP27. Picture by Simon Walker No 10 Downing Street
UK Prime Minister Rishi Sunak chats to the Prime Minister of Sweden Ulf Kristersson on the first day of COP27. Picture by Simon Walker No 10 Downing Street
UK Prime Minister Rishi Sunak meets the President of the European Commission Ursula von der Leyen on the first day of COP27. Picture by Simon Walker No 10 Downing Street

Sunak called on nations to honour the promises made in Glasgow and direct public and private finance towards the protection of the planet, which would turn the struggle against climate change into a global mission for new jobs and clean growth.

“And we can bequeath our children a greener planet and a more prosperous future. That’s a legacy we could be proud of. So, as we come together once again in common cause today, there really is room for hope. Together, let us fulfil it,” he noted.

Earlier on Monday, he held a series of bilateral meetings on the sidelines of the summit in Egypt, including his first in-person interaction with French President Emmannuel Macron and European Commission President Urusula Von Der Leyen. 

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