Sustainability Outlook Headlines

Rich nations make empty pledges in contributing to fast-track climate fund

 A fast-track fund of $30 billion from the developed world to the poorest countries was one key trade-off against emerging economies like India accepting international scrutiny of their climate actions at Copenhagen. But two years on, the rich countries have contributed only 1% of the amount ($320 million) against that. 

A study by International Institute for Environment and Development (IIED) has pointed out that though the rich countries have pledged $25 billion on the face of it, but $320 million have been routed through the UN. 

India has consistently demanded that the... Read more..

State’s first solar-powered campus coming up in Thiruvalla

 State’s first solar-powered campus, perhaps the first one of its kind in the whole country, is coming up in Thiruvalla.

Mar Athanasios College For Advanced Studies Thiruvalla (Macfast), the first private self-financing college in the State that had carved a special niche for becoming first on many fronts over the past one decade, is soon to add yet another feather on its cap of achievements by becoming the State’s first solar-powered campus.

Thanks to its visionary founder principal, Fr Abraham Mulamoottil and his successor, Fr Pradeep Vazhatharamalayil, for this... Read more..

Blackstone eyes $500-$720 million deals a year in India

 U.S. private-equity giant Blackstone Group (BX.N) expects to invest roughly $500 million to $720 million a year in India over the next few years, a top official said on Tuesday.

Weak markets are prompting capital-hungry entrepreneurs to knock on the doors of private-equity investors, and valuations are coming down, Akhil Gupta, chairman and managing director of Blackstone India, told the Reuters India Investment Summit.

"Not just ourselves, but the entire fraternity is extremely busy right now," he said.

The firm expects to do five or six deals a year in India of... Read more..

'Carbon' becomes dirty word for climate investors

In a sign of the tough times facing the carbon sector, the Carbon Markets and Investors' Association last month dropped the word "carbon" from its name.

The group, which represents more than 50 firms that finance and invest in emissions reduction, is now the Climate Markets and Investors' Association (CMIA).

"The new name reflects both the need and potential for the diversification of the role of the private sector in combating climate change," said Miles Austin, director of the CMIA.

"We need to explore supplementary routes to drive investments."

The VCS... Read more..

Get ready for extreme weather, warns UN report

A United Nations body has warned of increase in extreme heat waves, drought and intensity of drought because of climate change and had asked countries to invest more to adapt to new spree of global warming linked disasters.

The Intergovernmental Panel on Climate Change (IPCC) headed by RK  Pachauri on Saturday said extreme weather events had increased since 1950, particularly daily temperature extreme and heat waves.

“It is likely that the frequency of heavy precipitation will increase and intensity of cyclones would be more,” the report on climate mitigation released a week... Read more..

ICT proposed as a tool to combat climate change

Experts have called for increased use of information and communication technology (ICT) in the formulation of a strategy for monitoring, mitigation and adaptation with respect to climate change in the State.

A consultation on the topic ICTs and Climate Change was held at Technopark here the other day. At the event it was observed that Kerala is particularly vulnerable to long-term effects of climate change.

Delegates at the event proposed steps for an action plan towards using ICT as a policy instrument in macro-planning and technology policy formulation for dealing with... Read more..

Inclusive, sustainable growth need of the hour

 A fundamental problem facing the world is rising inequality, joblessness and ultimately a lack of demand, causing deep recession. This is not a cyclical problem that will be addressed by stimulus packages but a more structural problem, inherent in the current growth process. Some argue why worry if inequality is rising as long as poverty is declining and Asia catches up with the West.

In the long run, inequality will come down, while in the short run, poverty will be addressed. But such a model, especially in south Asia where poverty still remains deep and where exclusion could be... Read more..

India, Canada to extend co-operation in renewable energy

 India and Canada have agreed to extend co-operation in the field of renewable energy. An official statement issued here said that the matter was discussed when Ms Christy Clark, Premier of British Columbia, Canada met Dr. Farooq Abdullah, Minister of New and Renewable Energy.

India already has an umbrella Memorandum of Understanding (MoU) with Canada in the field of energy, including renewable energy. It was agreed that the two sides would further explore co-operation between institutions of repute of India and British Columbia in identified fields, the statement said. Fuel cells,... Read more..

India earmarks least funds to save environment

 Despite the buzz word 'going green' catching up globally, India appears to have the dubious distinction of earmarking the least funds for protecting the environment. 

The country is spending only 0.012 per cent of its GDP for addressing its primary green concerns including climate change, conservation of lakes and rivers, biodiversity, forests and wildlife, ensuring the welfare of animals and prevention and abatement of pollution. 

"Currently, the percentage of GDP spent on environment in India is 0.012, whereas it is 1.0 in Japan, 0.4 in USA and 0.3 in Netherlands. The... Read more..

Maybank Starts $500 Million Private Equity Fund for Renewables

 Malayan Banking Bhd. (MAY) agreed with Maybank MEACP Pte of Singapore to start a $500 million private equity fund for renewable energy in Asia, according to a statement from Maybank.

The 10-year fund will have a first tranche of $87.5 million, of which Maybank will contribute $50 million. It will invest in wind, solar, geothermal, small hydroelectric, biomass, biofuels and energy efficiency projects in the Asia-Pacific region with a focus on China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos, said Zafrul Tengku Aziz, CEO of Maybank Investment... Read more..

DJB on path to recycle resources

The Delhi Jal Board (DJB) is aiming at exploring more advanced technologies to harness and reuse its resources like sewage and biogas.

The city’s water utility will sign an MoU with Indraprastha Gas Limited (IGL) on Tuesday for a pilot project regarding the conversion of biogas produced at its sewage plants to compressed natural gas (CNG). The IGL has received soft loan to utilise the technology developed by a Swedish firm for converting sewage to natural gas.

“The DJB will provide the land required by them,” said a senior DJB official. The natural gas thus produced would be... Read more..

World Bank plans $ 1.5-bn investment in Indian energy sector

The World Bank expects to invest about USD 1.5 billion in the country's fast growing energy sector over the next two years, according to a top official. 

 
The multilateral lender, which has a long association with the Indian energy sector, has already put USD 4 billion in the segment.

"Our investment in energy sector is around USD 4 billion and another USD 1.5 billion is under preparation -- means projects that are not finalised but are under the process of finalisation," World Bank's India Energy Team Leader (South Asia Sustainable Development) Ashish Khanna told PTI... Read more..