Abha Nirula

*The fight against #ClimateChange is as much about power and priorities as it is about evidence and solutions* My piece on imfluence of geopolitics on climate finance negotiations during #COP29 in #The News today. #Geopolitics over science? https://lnkd.in/d676JqRS

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📅 Only 2 days to go until the Collaborative Pathways to Effective Climate Adaptation convening! If you haven't registered yet, this is your last chance: https://lnkd.in/gHHG7sMU Join us for an in-person, invite-only event in New Delhi (India), where we'll engage in impactful discussions on the key themes driving climate adaptation efforts. Our lineup of incredible #speakers will lead dynamic panels on critical topics such as: 🌎 The Role and Challenges of CSOs in Climate Adaptation, exploring the significant contributions of civil society organizations, the hurdles they face, and how to form impactful partnerships. 🌎 Capacity Building for Effective Adaptation, focusing on how CSOs can enhance their efforts through better resource management, securing sustainable funding, and building strategic collaborations. Don't miss this opportunity to connect, learn, and co-create pathways for transformative change! #ClimateAsia #ClimateAdaptation #Sustainability #CapacityBuilding #climatefinance Featuring: Deepak Dogra (Climate Asia ), Dhruvi Shah (Axis Bank Foundation), Nidhi Bhasin (Digital Green Trust), Sudipto Dey (Outlook india), Siddharth Chaturvedi (Bill & Melinda Gates Foundation), Sarat Kannepalli (Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH), Aniket Doegar (Haqdarshak), and Raisha Galib (Climate Asia).

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🌏 Bringing you the second installment of the three-part exploration of India's climate change policy and the latest global #climatenegotiations, authored by Montek Singh Ahluwalia and Utkarsh Patel. This paper, “Financing Climate Change Adaptation and Mitigation in Developing Countries," assesses the scale of financial assistance that may be needed to assist developing countries to meet their #NetZeroGoals. 📈 The authors argue that it is important for developing countries to recognise that they cannot expect the entire sum of the additional investment needed for #climateaction to be financed from external sources. At least half of the required investment, they suggest, would need to be mobilised domestically through increased public and private savings and redirection of domestic #investment, while the rest could come from external sources through a combination of private and official flows, including from #MDBs. Read the paper: https://lnkd.in/dG72JERQ

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This month, the Climate Capital Network launched its annual India Climate Finance Report, highlighting opportunities and white spaces in Indian climate finance. The report also reveals valuable insights into increasing capital flows and the diversification of climate funding in India. Tanya Kak (Climate & Environment Portfolio Lead, RNP) contributes to this report with a guest article on finding innovating funding models for philanthropy in conservation, climate adaptation and resilience. Read here: https://samaaj.io/4e8u5GA Green Artha Maya Chandrasekaran #climatefunding #climatefinance #philanthropy

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"Climate talks related to the #NCQG have not been as expected. Instead, there is increased discussion on creative accounting, which is problematic for #SIDS. We need access to climate financing to keep 1.5 Alive." SIDS need substantial climate finance to fight the #climatecrisis - not *creative accounting*❗ As talks crescendo at #COP29, #AOSIS Climate Finance Negotiator, Michai Robertson delivers a critical update on the state of NCQG negotiations. #StandUpForSIDS

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Adaptation to climate change in urban livelihoods is an essential and beneficial initiative. In Bihar, building a sustainable livelihood taking into account adaptability and local mitigation approaches to climate change has been projected as leading to long-term and significant changes in the lives of ultra-poor families through SHGs.

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Volume 2 of the Weekly Climate in India Roundup is here. It includes the full newsworthy and almost news, important reports, and upcoming events. Some of this week's news: ✅ Greenwashing norms likely to spark class action suits On Oct 15th, the Consumer Protection Authority issued new guidelines to guard against greenwashing by companies. The new guidelines specifically ban vague terms like “eco friendly” and “sustainable” unless supported by reliable scientific evidence or third party certifications (link in blog). ✅ India commits to 30% protected areas in updated biodiversity plan India has launched its updated biodiversity action plan to protect at least 30 percent of its terrestrial, inland water, and coastal and marine areas by 2030. The updated National Biodiversity Strategy and Action Plan (NBSAP) outlines 23 national targets aligned with the 23 global goals set under the Kunming-Montreal Global Biodiversity Framework (KM-GBF) (link in blog). ✅ AM Green places India’s largest electrolyzer order to produce green hydrogen and ammonia AM Green has placed its largest advanced pressurised electrolyzer order to produce green hydrogen, and subsequently green ammonia, for its plant in Kakinada, Andhra Pradesh. The plant is scheduled to start production in the first half of 2026 (link in blog). ✅ Gvt plans pollution penalty of up to 15 lakh ahead of Diwali The government has decided to decriminalise stubble burning and other environmental offenses, but to make the legislation have “teeth”, replacing it with a financial penalty. Instead of sending people to jail, and having cases stalled or have no action, the idea is to replace with penalties that range from 10K INR to 15 lakh INR (link in blog). ✅ Toyota’s first EV launch from it’s Suzuki-India Alliance Suzuki motors Indian unit is scheduled to deliver its first EV to Toyota Motor by spring 2025. The SUV style EV will be exclusively manufactured in India, in its Gujarat facility (link in blog). ✅ More than 6 lakh 2 and 3 wheeler EVs sold under government subsidy scheme More than 6 lakh electric two- and three-wheeler vehicles have been sold under the EV subsidy scheme PM E-Drive in this current financial year. Electric four-wheelers were interestingly not a part of this scheme, since all previous EV subsidy schemes included electric cars. India is targeting 30% of new vehicle sales to be electric by 2030 (link in blog). ✅ JSW and Posco enter into agreement for clean energy, EV batteries, and steel JSW Group and South Korea’s POSCO have signed an agreement to collaborate in steelmaking, electric vehicle (EV) batteries, and renewable energy projects. The partnership also aims to support the development of an EV ecosystem in India (link in blog) For full news, reads and events find the blog post here:

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While negotiations at #COP29 move to the final hours, we hear that transparency and strengthened accountability is under question around the implementation of #Article6.2 - carbon credits mechanism - if that was ever in a good place. In case anyone had any doubt why #accountability was ever so necessary in the #carbonmarket just take a look the #Okhla incinerator plant plant and the really critical exposé by The New York Times: ❌ Once upon a time in 2011, #Delhi decided to invest in an incinerator, burning #waste to create "#greenenergy". 🤑 The business model includes the revenues from #carboncredits, traded as compensation for the avoided #methane landfill emissions. ☠ The plant generates tones of #toxic ash, makes everyone severely sick, violates endless counts of #pollution standards. The lesson is clear: failing to maintain #environmentaljustice standards will effectively undermine the Paris Agreement and jeopardise the 1'5o goal. #Methane reduction needs to build on decarbonising efforts with real climate action, swapping methane for CO2 and toxic pollution is simply unacceptable. https://lnkd.in/eUcsiRgA

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Climate-Focused Non-Profits Make an Impact Hisham Mundol is the Chief Advisor of India, Environmental Defense Fund. He writes about the impact EDF is making for #climateaction Read at https://lnkd.in/gNqDBVQD #climatechange #climateaction

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Climate finance include all financial resources and instruments from public or private sources that aid climate action and adaptation. Hidden in this grid are five commonly-used climate finance terms. Can you spot them? Comment the words you find! To learn more about climate finance, follow Rishika Madan, WCC 2024 leader, who has sourced and evaluated 200+ early-stage climate-tech startups. Learn more on our website https://lnkd.in/gR4FSpjA #ClimateFinance #ClimateTech #WomenClimateCollective #WCC2024 #WomenEmpoweringWomen #ClimateAction #WomenInClimate

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Carbon Markets: To tackle South Asian Climate Crises. To understand the changing nature of climate and rising average global temperature. To understand the changing nature of climate and rising average global temperature. We need to look at the factors which have contributed to aggravating the atmosphere of planet earth. The rising magnitude of CO2 (Carbon Dioxide) has been detected as a primary supplement for the growing ferocious nature of global weather. Fast pace industrial development all across the globe has multiplied carbon emissions. Read the rest of this Article at https://lnkd.in/duSEYnAJ #ClimateChange #sustainability #writers #environment #speakup

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Enhancing India’s Climate Resilience: A Call for New Strategies: The Wire examines that India’s climate strategy needs urgent reassessment to address increasing environmental challenges. It advocates for stronger policies and innovative solutions to enhance resilience and sustainability. Read more at: https://lnkd.in/gCT_zNPR The Wire, Jatin Singh, Yogesh Patil, Vivek Singh, AVM GP Sharma, Mahesh Palawat, Arun Kumar Yadav, Council on Energy, Environment and Water (CEEW), TERI - The Energy and Resources Institute, Ministry of Earth Sciences , Ministry of Environment, Forests & Climate Change, Government of India , Indian Centre for Climate & Societal Impacts Research (ICCSIR), WWF-India #ClimateStrategy #IndiaClimate #EnvironmentalPolicy #ClimateAction #Sustainability #ClimateChange #GreenPolicy #ClimateResilience #PolicyReform #ClimateMitigation #ClimateAdaptation #IndiaEnvironment #ClimateCrisis #EcoInnovation #ClimateEmergency

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India Advocates for Climate Finance Reform at CoP29 At CoP29 in Baku, Azerbaijan, India highlighted the disproportionate burden of climate change on developing nations. Stressing the importance of accessible and credible climate finance, India called out slow disbursements, rigid criteria, and complex approvals that hinder support for adaptation efforts. India advocated for an ambitious New Collective Quantified Goal post-2025, focused on grants and concessional financing tailored to the needs of developing nations. Domestically, India is preparing its National Adaptation Plan and estimates its adaptation financing needs at USD 854.16 billion, currently met through domestic resources. India urged developed nations to fulfil their financial commitments, crucial for advancing global adaptation goals and ensuring a sustainable, equitable future for all. India’s call at CoP29 for developed nations to fulfil their financial commitments reflects Prime Minister Narendra Modi’s dedication to global climate equity. This bold leadership is not only shaping India’s environmental future but also ensuring the nation stands as a leader for a sustainable and equitable world.

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#COP29 concludes with a $300 billion annual #NCQG target by 2035 and an overarching goal of mobilizing $1.3 trillion from a mix of public and private sources. These targets fall short of the proposals put forth by several developing nations, including India. For #India, the path forward lies in a dual approach:  1. Continuing to advocate for equitable, low-cost concessional finance flows from developed to developing nations and  2. Strengthening its domestic banking sector to drive climate action within the country. Akshima Ghate and I explore how Indian banks can prepare themselves to play a pivotal role in mobilising climate finance. #climatefinance #concessionalfinance #banking Mint https://lnkd.in/g73_rJ6J 

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“Nearly 70% of climate finance is in the form of debt or loans, which undermines the original idea of climate finance as reparations for developing countries.” Avantika Goswami, Centre for Science and Environment, New Delhi, at our webinar on #COP29 and the New Collective Quantified Goal (NCQG). Our issue brief has more on what to watch in climate finance discussions: https://bit.ly/40KlyqB

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The OECD 2024 report `Climate Finance Provided and Mobilised by Developed Countries in 2013-2022’ has created both, jubilation as well as frustration, among different segments of the climate community. So, going beyond the headline “Developed countries exceeded the USD 100 billion annual goal for the first time in 2022” three years before the 2025 deadline; let us delve in to the key messages from this report: (1) In 2022 developed countries’ public climate finance provided bilaterally and through multilateral channels mainly took the form of loans (69% or USD 63.6 billion) and, to a lesser extent, grants (28% or USD 25.6 billion); (2) Over the period 2016-2022, close to 90% of financing provided by MDBs took the form of loans; (3) The mix was comparatively more balanced for multilateral climate funds with 39% loans and 54% grants; (4) Financing provided by the bilaterals was 57% loans and 39% grants; (5) The relative shares of mitigation and adaptation in the aforementioned climate finance mobilization were 60% and 28% respectively in 2022; (6) Over 2016-2022, while 38% of public finance for the adaptation was provided through grants, only 15% was grant-funded for mitigation; and (7) Between 2016 and 2022, the energy and transport sectors accounted for 62% of the total mitigation finance provided and mobilized.. It may be safe to conclude, therefore, that the bulk of public climate finance, through multilateral and bilateral channels (such as the World Bank and ADB etc.) has come in the form of loans with grants forming a miniscule share. The multilateral climate funds e.g. GCF, GEF, Adaptation Fund, and IFAD etc.) fared better in terms of grant-based financing. How does it square off with the first Global Stock Take at COP28, Dubai, which noted that “new and additional grant-based, highly concessional finance, and non-debt instruments remains critical to supporting developing countries, particularly as they transition in a just and equitable manner…”?   The vast difference in quantum of financing between mitigation and adaptation is indicative of preference being accorded to `commercially viable’ mitigation projects (e.g., energy and transport sectors) as opposed to adaptation and climate resilience where benefits are largely intangible, that too accruing over long gestation periods. Moreover, with loans outstripping grants by a wide margin and the additionality of `pure' climate finance being in a doubtful zone, it speaks volumes about the quality of said climate finance.    #climatefinance #climateaction #mitigation #adaptation #climateresilience #justtransition #developingeconomies  

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