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<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> requires an investment support of USD 1.4 trillion — an average of USD 28 billion per year — to become a net-zero economy by 2070 and raising <keyword id="20260327" type="General" weightage="20" keywordseo="financial-resources" source="keywords">financial resources</keyword> for adaptation and mitigation action of this scale is an "unprecedented challenge", according to the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Reaching net zero means achieving a balance between greenhouse gas emissions and the amount of these gases removed from the atmosphere by either natural processes, such as photosynthesis, or by other methods of carbon capture and storage. The consolidated report on the state of the economy in the previous year said India's climate action has been largely financed through domestic resources and the flow of international finance has been "very limited". Citing the Reserve Bank of India's (RBI) data, the report said bridging the "substantial funding gap" necessitates allocating 2.5 per cent of India's annual Gross Domestic Product (GDP) to <keyword id="20018880" type="General" weightage="20" keywordseo="green-finance" source="keywords">green finance</keyword>. "Preliminary estimates indicate that the aggregate investment support required by India to achieve its 2070 net-zero target will be USD 1.4 trillion at an average of USD 28 billion per year. Raising financial resources for <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> adaptation and mitigation actions of this scale is an unprecedented challenge," the document read. A 2022 report by the Climate Policy Initiative found that domestic sources accounted for the majority of green finance in India, at 87 per cent and 83 per cent in financial years 2019 and 2020 respectively. While international sources are increasing (from 13 per cent in FY 2019 to 17 per cent in FY 2020), the economic survey said they are still insufficient to meet India's net-zero target. "Mobilising substantial capital from traditional sources presents multifaceted challenges in emerging economies like India. The perceived sovereign risks associated with emerging market and developing economies (EMDEs) and the capital-intensive nature of such projects, coupled with lengthy gestation periods and evolving regulatory frameworks, can create misalignment between investor expectations and project timelines," the government said. The economic survey also noted that the flows of global capital to <keyword id="20200084" type="General" weightage="20" keywordseo="developing-countries" source="keywords">developing countries</keyword> have been impeded by high costs of capital. Despite securing a good rating on its green-bond framework, Indian sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword> have hardly received any "greenium" from private investors. It is more a "wall of capital" than a "flood of capital" that is waiting to fund energy transition in EMDEs. It is just not mobile. All of these together have severely hampered the flow of finance for green-transition projects, the survey said. "Greenium" or green premium refers to the savings an issuer of a green bond realises on the associated coupon payment because the bond is green. Financial support to help middle-income and poor countries fight climate change will be at the centre of this year's UN climate conference in Baku, Azerbaijan, where the world will reach the deadline to agree on the New Collective Quantified Goal (NCQG) -- the new amount developed nations must mobilise every year starting 2025 to support climate action in developing countries. But achieving consensus will not be easy, given the disappointing progress made on major conflict points at the mid-year UN climate talks in Bonn, Germany. At the 2009 UN climate conference in Copenhagen, rich nations pledged to provide USD 100 billion annually from 2020 to help developing countries mitigate and adapt to climate change. However, delays in achieving this goal have eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations. In May, the Organisation for Economic Cooperation and Development (OECD) claimed that developed countries had met the long-standing USD 100 billion-a-year promise by providing nearly USD 116 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> to developing countries in 2022, with nearly 70 per cent of the money given in the form of loans. However, international non-profit organisation Oxfam last week said climate finance provided by rich countries in 2022 totalled no more than USD 35 billion. Developing nations argue that they cannot be expected to reduce carbon dioxide (CO2) emissions faster if developed countries -- historically responsible for climate change -- do not provide enhanced financial support. Rich countries are now expected to raise more than USD 100 billion, with developing countries, including India, demanding trillions of dollars to tackle climate change.

Raising massive financial resources for net-zero goal unprecedented challenge: Economic Survey

<keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">Climate change</keyword> could become the main driver of <keyword id="21446697" type="General" weightage="20" keywordseo="biodiversity-decline" source="keywords">biodiversity decline</keyword> by the mid-century, a new research has found. Studying changes in land-use patterns and their impacts on biodiversity, an international team of researchers found that biodiversity around the world could have declined by 2-11 per cent. "By including all world regions in our model, we were able to fill many blind spots and address criticism of other approaches working with fragmented and potentially biased data," said Henrique Pereira, research group head at the German Centre for Integrative Biodiversity Research (iDiv), and the first author of the study published in the journal 'Science'. Examining how biodiversity and ecosystems might evolve in the future, the researchers found that the combined effects of land-use change and climate change lead to biodiversity loss across all global regions, regardless of emissions scenario. "We found that climate change poses an imminent threat to biodiversity and ecosystem services. While land-use change has historically been a significant factor, our findings indicate that climate change could overtake it as the primary driver of biodiversity loss by mid-century," explained study co-author, David Leclere, researcher at the International Institute for Applied Systems Analysis (IIASA), Austria. The researchers called for a "truly integrated approach" considering varied <keyword id="21447217" type="General" weightage="20" keywordseo="sustainability-aspects" source="keywords">sustainability aspects</keyword> to reduce conflicts between policies and safeguard biodiversity in the coming decades. "For instance, while <keyword id="21447218" type="General" weightage="20" keywordseo="bio-energy-deployment" source="keywords">bio-energy deployment</keyword> is still a critical element of the majority of climate stabilisation scenarios, it also poses a threat to species habitats," said IIASA Biodiversity and Natural Resources Program Director Petr Havlik, one of the study co-authors. The findings suggested that conservation and restoration efforts should be prioritised globally as necessary natural climate solutions, the authors said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

Climate change could become main driver of biodiversity decline by mid-century: Study

Billionaire Gautam Adani's group is building the world's largest <keyword id="864915" type="General" weightage="20" keywordseo="renewable-energy-park" source="Orion">renewable energy park</keyword> in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from <keyword id="6357019" type="General" weightage="20" keywordseo="solar-energy" source="Orion">solar energy</keyword>. Speaking at the opening of '<keyword id="694229" type="General" weightage="20" keywordseo="energy-revolution" source="Orion">Energy Revolution</keyword>: The <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. "In Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 2030, said Adani, the chairman of the apples-to-airport conglomerate. "This will be like providing clean energy to almost every house in England," he said. It currently has an operating renewable portfolio of over 9.5 GW and locked-in projects of up to 21.8 Gigawatt (GW). The Gallery explores how the world can generate and use energy more sustainably to urgently decarbonise and to limit dangerous climate change. "Through striking displays of contemporary and historic objects from the UK and abroad, interactive digital exhibits, and specially commissioned models, the gallery shows how the past, present and future are shaped by human imagination and innovation and explores how we all have a role to play in deciding our energy future," a company statement said. The Gallery, which is open to the public for free, examines this century's defining challenge through the lens of imagination across three sections. In Future Planet, visitors can explore how scientists use complex computer-based models to understand our planet, and what these tell us about the range of climate futures that might lie ahead. In Future Energy, technologies and the people behind them that are reimagining how energy is supplied and used are highlighted alongside historic artefacts which provide a longer view of the transition away from fossil fuels. Adani said museums are very important because they teach and inspire. "This new gallery is about more than just clean air - or about moving away from oil and gas. It is about the energy transition we need - this world needs - and it is about the revolution that is taking place in the world of energy." The gallery, he said, was special because it makes us think, dream and wish for change. At the centre of the gallery is Only Breath, a moving sculpture that signifies the power of nature to inspire technological change. Radiating outward from the centre are plinths which display vital low-carbon renewable energy technologies for the transition, from nuclear, hydrogen and solar to wind and tidal power, alongside remarkable historic innovations that remind us how major change is possible and that many of the technologies needed to make the low-carbon energy transition already exist. Objects in this section include a 7m long tidal turbine blade made by Scottish renewable energy company Orbital Marine Power and the first electric taxi, the Bersey cab, hailed by Londoners in 1897. The challenges of electrification, energy storage, and supply and demand are also explored, with visitors invited to play interactive games and use models that show how energy can be generated and distributed. Possible routes to low-carbon transport are featured, as well the decarbonisation of our buildings and construction industries, and visitors can learn about climate modelling and see instruments used to measure climate. Energy Revolution was designed by award-winning architects, Unknown Works. A key element of sustainable design was the reuse of redundant shelves from the Science Museum's former object store. The gallery's carbon footprint has been monitored, and recyclable aluminium was used where possible. The gallery's Title Funder is Adani Green Energy. Sagar Adani, Executive Director, AGEL, said, "The Science Museum has put together the world's best curated gallery on energy transition. As one of the world's largest renewable energy companies, we are committed to making progress towards net zero - and there is no greater resource in the fight against climate change than education. "Through the sponsorship of the gallery, we aim to inspire young minds, scientists and innovators to imagine a future powered by clean energy and build a carbon-free world. It is an initiative to stimulate their interest, curiosity and awareness, and encourage their active participation in creating clean technologies. The gallery brings together the global community to enable the shift towards energy efficiency, clean energy adoption and carbon emissions reduction." Sir Ian Blatchford, Director and Chief Executive of the Science Museum Group, said, "In a week when we're celebrating a record 2.25 million visits by UK residents to the museum, including a million children, this stunning gallery offers even more to ignite curiosity among those who will visit in the year ahead - provoking important conversations about the urgent need for the world to generate and use energy more sustainably."

Adani eyes 45 GW renewable energy capacity by 2030

<ul><li>The upcoming <keyword id="6358021" type="General" weightage="20" keywordseo="budget" source="Orion">budget</keyword> may set aside big bucks to support new capacity in solar, wind and hydropower.</li><li>However, experts say, Prime Minister Modi needs the support of state governments to execute these projects and build up India’s capacity to meet the emission targets by 2030.</li><li>The reluctance at the level of states may not even be political. Even some of the BJP-ruled states have not performed as well as they should have in backing the party’s plan to curb emissions.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>Indian Prime Minister Narendra Modi’s <a href="https://economictimes.indiatimes.com/industry/renewables/modis-cop26-goals-could-mean-a-massive-energy-overhaul-in-india/articleshow/87494861.cms">speech </a>in Glasgow, at the COP26 Summit in October 2021, had set some steep targets for the country’s renewable energy sector. Based on that, expectations are rife that there may be big bucks allocated in the budget to promote the construction of new capacity in solar, wind and hydropower projects. <div type="image" title="2 (2)" height="900" width="1200" msid="89000322" hostid="261"></div>However, the government has been wanting to build up renewables capacity in a big way for a while now. But even for the current year, India is well short of the targets. <div type="image" title="renewable kotak" height="900" width="1200" msid="89000432" hostid="261"></div>The lack of support at the level of state governments is the reason for the shortfall, according to one expert. “The problem is to make those things happen (meet renewable energy commitments) the central government actually has very little tools and resources. These decisions are actually dealt at the state level and frankly states aren't always bought in for these commitments that the central government puts out there,” said Richard Rossow, the Wadhwani Chair in US India Policy Studies at the influential think-tank CSIS. Rossow points out that the states’ reluctance may not even be political. Even states ruled by Bharatiya Janata Party (BJP) ⁠— which is also ruling at the Centre ⁠— have not backed the Prime Minister’s agenda wholeheartedly. “Sometimes of the BJP states are some of the worst laggards. And sometimes states that oppose Modi’s agenda are the fastest to jump on board,” added Rossow. Among the top 10 states that have made the best progress in building up renewable energy ⁠— solar, wind and hydropower projects ⁠— sources, only three of them are ruled by, or aligned with, the BJP. <div type="image" title="renewable-states" msid="89000399" hostid="261"></div>Karnataka is the top state because of several reasons like offering incentives and subsidies to promote green buildings, electric vehicle (EV) charging infrastructure deployment, and energy-efficient technology adoption in industries. Recently, <a href="https://economictimes.indiatimes.com/industry/renewables/karnataka-invites-elon-musk-to-set-up-tesla-plant/articleshow/88973765.cms">Karnataka also invited Elon Musk </a>to set up a Tesla unit in the state. However, efforts are underway to boost India’s ability to curb emissions and combat climate change. On January 19, the Cabinet cleared ₹1,500 crore for the Indian Renewable Energy Development Agency (IREDA). This will enable IREDA to lend ₹12,000 crores to the renewable energy sector. State-owned lenders like the Power Finance Corporation and Rural Electrification Corporation have cut interest rates for long term loans to renewable energy projects to 7.85%. The market is excited too. Some of the best performing stocks in January 2022 are from the green energy space. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2022 change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BEML </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.72% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HAL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr></tbody></table>Meeting targets is important because just having installed capacity doesn’t mean that energy production will be of the same scale as coal-powered plants. “You know, a wind farm or a solar farm doesn't generate 80% of the installed capacity. That that is not even targeted because it cannot happen, given the nature of the energy that's coming in. So, that often people don't make that adjustment. It's like not that you know 1000 megawatts of coal is the same as 1000 MW,” Devina Mehra, Founder, Chairperson &amp; Managing Director at First Global, explained on Business Insider, adding that only a small part of her investments are in the sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jiofiber-adds-0-2-million-subscribers-overtakes-bsnl-to-become-largest-fixed-broadband-provider/articleshow/88993140.cms">JioFiber adds 0.2 million subscribers, overtakes BSNL to become largest fixed broadband provider</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ashneer-gover-takes-leave-from-bharatpe-amidst-a-legal-battle-with-kotak-mahindra-bank/articleshow/88994415.cms">Ashneer Gover takes ‘voluntary’ leave from BharatPe amidst a legal battle with Kotak Mahindra Bank</a>

India is expected to make big budget allocation for renewable energy but Modi needs states on board to fight climate change

Globally, the rate at which people are installing solar panels and buying electric vehicles is "perfectly in line" with what experts have said is necessary to reach net zero emissions by 2050. That's according to <keyword id="293700" type="General" weightage="60" keywordseo="fatih-birol" source="Orion">Fatih Birol</keyword>, the economist who leads the world's energy watchdog, the International Energy Agency (<keyword id="66776" type="General" weightage="80" keywordseo="iea" source="Orion">IEA</keyword>). Thanks to a "staggering" rise in clean energy generation and investment over the last two years alone, the prospect of halting global heating at 1.5°C remains intact, he added. After a summer of unparalleled climate disasters in Libya, Greece and Canada, should dread turn to optimism? In a recent update on humanity's progress with cutting greenhouse gas emissions, the IEA concluded that by 2030: <keyword id="560717" type="General" weightage="50" keywordseo="fossil-fuel" source="Orion">fossil fuel</keyword> demand must fall 25% -the energy efficiency of homes, vehicles and other appliances must double -methane emissions from the oil and gas sector must fall 75% The report assumes that renewable energy capacity will need to triple and replace coal, oil and gas at a rapid pace by the end of this decade to guard against catastrophic levels of warming. But despite sources like solar consistently defying even the most bullish predictions, fossil fuels have hardly budged: they supplied 82% of the world's energy last year and 87% in 2000. Why? Fossil fuels linger, wind power stalls "Rapidly increasing renewable energy hasn't cut coal and gas consumption at the same rate because humankind is using a lot more electricity than we used to, especially in Asia," says Malte Jansen, a lecturer in energy and sustainability at the University of Sussex. "[In Europe and North America] renewable energy has slowly eaten into the proportion of energy generated by fossil fuels, while all other energy sources (nuclear, hydro, biomass) have remained about the same. In Asia, electricity demand has tripled since the 2000s, with the bulk of this energy coming from fossil fuels." And while the report was glowing in its assessment of solar power's performance, it noted that planned projects for generating wind energy this decade trail what the IEA says will be necessary by 2030. Jansen says wind is a particularly valuable energy source during winter, when energy demand peaks. Unfortunately, the wind industry has been buffeted by inflation. "For those involved in the construction of an offshore wind farm, this means the cost of both the physical parts (such as the turbines) and the debt (bank loans) has gone up," says Phil McNally, a research fellow in electricity markets at UCL. McNally does not believe this setback heralds the end of cheap offshore wind, as some have claimed. Instead, he argues, it means governments must produce strategic plans to grow the sector which include how much energy they wish to procure in auctions with developers. Net zero must come sooner According to the IEA, "almost all countries" will also need to move their net zero target dates forward by several years. Most developed countries, including the US and Australia, aim to fully decarbonise by 2050. Under the UN principle of common but differentiated responsibilities, developing countries have a bit longer: India plans for 2070, for example. A team of energy experts at Australian National University (with support from nearly 900 engineers) recently argued that Australia could hit net zero as early as 2035. But in the UK at least, government policies on net zero are moving in the opposite direction. Prime Minister Rishi Sunak recently scrapped requirements on landlords to raise the energy efficiency of their properties and delayed the phase-out of petrol and diesel car sales from 2030 to 2035. "As my own analysis has shown," says Tim Jackson, a professor of sustainable development at the University of Surrey, "the UK's fair share of the global carbon budget, taking into account the development needs of the poorest parts of the world, will be exhausted before 2030. Forget 2050. The science is clear. Delay is tantamount to capitulation." We've been here before What can earlier energy transitions teach us about what is happening today? According to energy historian Vaclav Smil, past energy transitions took on average 50-75 years to ripple through society. We no longer have that kind of time says Liz Conor, an ARC Future Fellow at La Trobe University. "To farm fields and build cities, we've gone from relying on human or animal muscle to wind and water to power sailboats and mill grain. Then we began switching to the energy dense hydrocarbons, coal, gas and oil. But this can't last." "We were first warned in 1859 that when burned, these fuels add to the Earth's warming blanket of greenhouse gases and threaten our liveable climate," she says. Environmental limits have spurred the shift to new energy sources before. Take England's transition from burning wood to coal. "England was once carpeted in forest. Endemic deforestation drove the change to coal in the 16th and 17th centuries. Most English coal pits opened between 1540 and 1640," Conor says. Later, dwindling whale populations saw the US abandon whaling as a source of fuel and lubricant for crude oil extraction. But the dominance of coal, oil and gas today was not inevitable. Conor points to 1850s New England, where steam generated from burning coal was three times more expensive than water for powering textile mills. Smil's research documents how waterwheels and turbines "competed successfully with steam engines for decades". "The energy of flowing water was free. Digging up coal was labour-intensive. Why did steam win?" asks Conor. The answer, she says, referring to work by human ecologist Andreas Malm at Lund University, is capital. "Locating steam engines in urban centres made it easier to concentrate and control workers, as well as overcoming worker walk-outs and machine breaking," Conor says. Today's energy transition requires another active intervention, she adds. "Once solar panels and wind turbines are built, sunlight and wind are free. It is the resistance of the old guard - fossil fuel corporations - that is holding us back." (The Conversation) NSA NSA

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Raising massive financial resources for net-zero goal unprecedented challenge: Economic Survey

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Climate change could become main driver of biodiversity decline by mid-century: Study

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Adani eyes 45 GW renewable energy capacity by 2030

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India is expected to make big budget allocation for renewable energy but Modi needs states on board to fight climate change

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Climate crisis: Net zero goal still alive, says IEA

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