TOKYO: Japan’s Sumitomo Mitsui Financial Group Inc (SMFG) said on Thursday it would no longer lend to new coal-fired power plants from May 1, a day after peer Mizuho Financial Group Inc said it would stop financing new coal power projects. The policy change comes as the sector faces pressure from activist investors and […]
Meeting Japan’s Paris Agreement targets—more opportunity than cost
Japan can meet its Paris Agreement targets in 2030 and 2050—but doing so will require carefully calibrating efforts across four sectors: power, industry, transport, and buildings. Signed in 2016, the Paris Agreement remains the most significant initiative to fight climate change. Participating governments around the world have committed to capping global temperature rise to below […]
Singapore’s climate change plan needs more ambition
The island nation is looking to update its climate pledge under the Paris Agreement. A bold pledge is necessary to reduce greenhouse gas emissions. Each person in Singapore produces more greenhouse gas emissions than their counterpart in Indonesia, China or the United Kingdom. The city-state may be responsible for just 0.11% of total global emissions, […]
India’s Investment in Renewable Resources Not Enough
India needs to make an annual investment of more than Rs 1.77 lakh crore ($25 billion) every year for 10 years to reach its target. India’s national climate action plans, known in UN parlance as nationally determined contributions (NDCs), under the Paris Agreement set three major goals – to increase the share of non-fossil fuels […]
India needs $500-700 billion in renewable energy: IEEFA
It reviewed India’s energy market and found some recent policy changes favourable for renewable energy investors. India will require $500-700 billion in renewable energy and supporting grid investment over the coming decade in order to meet its renewable energy targets, the US-based Institute for Energy Economics and Financial Analysis (IEEFA) said on Friday. In a […]
Investors with $34 trn demand action on climate change ahead of G20 summit
Almost 200 nations agreed in Paris in 2015 to limit the global average temperature rise to well below 2 degrees Celsius above pre-industrial times Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 […]
RK Singh Exudes Confidence of Meeting Paris Agreement Target at G20 Meet
Union minister RK Singh said that India is achieving one of the largest expansion of renewable energy in the world, and it has become a net exporter of power in past five years. New Delhi: Union Minister R K Singh on Saturday assured international community that India will achieve the target set under the Paris […]
India inching towards meeting Paris Agreement targets: RK Singh at G20 ministerial meet
India is implementing one of the largest renewable energy expansion and energy efficiency programmes and is moving towards achieving the target to fulfill the country’s commitments made in Paris Agreement, said Power and New and Renewable Energy Minister RK Singh on Saturday. The minister made these remarks at the G20 Ministerial Meeting on ‘Energy Transitions […]
Ex-aide reveals how Barack Obama won over PM Modi on Paris climate deal
Obama used race, personal chemistry, Jan 26 visit according to his former top personal and national security aide Benjamin Rhodes. WASHINGTON: Former US president Barack Obama made an exceptional use of his race, went out of his way to develop a personal chemistry with Indian Prime Minister Narendra Modi and moved the State of the […]
ADB’s Clean Agenda: CSOs call against fueling dirty energy and coal investments
This year’s 52nd Asian Development Bank (ADB) Annual Governors’ Meeting is being held in Nadi, Fiji. Similar to its neighboring countries in the Pacific, Fiji is on the brink of suffering from the severe impacts of climate change despite its low global carbon emissions. The location of the Annual Meeting intensifies the compelling clamor from […]