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<ul class="summary-list"><li>President-elect Donald Trump has questioned the reality of the climate crisis.</li><li>He's expected to withdraw the US from the Paris Agreement, which he also did in his first term.</li></ul><p>President-elect Donald Trump has long questioned the reality of the climate crisis, describing it as a "scam" and accusing policies to tackle the crisis of destroying US jobs.</p><p>Many expect him to withdraw the US from the Paris Agreement to limit emissions upon taking power in January, as he did in his first term.</p><p>But his hostility to green policies conflicts with another of his priorities — challenging the rise of China.</p><p>"A second US withdrawal from the Paris Agreement would present a significant opportunity for China to expand its leadership role in multilateral climate issues," Herbert Crowther, an analyst with the Eurasia Group in New York told Business Insider.</p><p>Trump's victory is overshadowing this week's UN climate summit in Baku, Azerbaijan, where pledges from Biden administration officials are tempered by the fact they won't be around for long.</p><p>And China is already positioning itself to fill the power vacuum and build its global influence.</p><p>"In the week since the election, we're already seeing China try to claim the mantle of global climate leadership and portray itself as the more "responsible" actor in this space," Lily McElwee, fellow in the Freeman Chair in China Studies at the Center for Strategic and International Studies in Washington, DC, told Business Insider.</p><p>"Beijing is out in force at COP29 calling for the United States under Trump to engage in 'constructive dialogue' and highlighting China's contributions to decarbonization through major investments in electric vehicles and other greentech industries."</p><div type="image" title="Chinese solar power station" height="576" width="1024" msid="115335201" hostid="261" sizebytes="137800"></div><h2 id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d"><strong>The green tech superpower</strong></h2><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">China has a curious position as both the world's largest polluter, and a powerhouse of green technology.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">It tops the <a target="_blank" class="" href="https://interactive.carbonbrief.org/the-carbon-brief-profile-china/index.html#">rankings for greenhouse emissions</a>, which helped power its huge economic growth in recent decades. </p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">In 2020, President Xi Jinping pledged that China would become <a target="_blank" class="" href="https://chinaeucn.com/carbon-neutrality-china/#:~:text=In%20September%202020%2C%20president%20Xi,carbon%20neutrality%20to%20the%20world.">carbon neutral by 2060,</a> and it's on track this year to record its first drop in greenhouse <a target="_blank" class="" href="https://www.businessinsider.com/china-meeting-us-climate-solar-panels-coal-power-energy-security-2024-5">emissions since 2016.</a></p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">At the same time, China has pushed harder to produce its own green technology — and sell it to the rest of the world.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">It is the world's largest producer of electric vehicles and solar panels, and the percentage of its energy coming from renewable sources <a target="_blank" class="" href="https://www.iea.org/reports/renewables-2023/executive-summary#">is rapidly growing.</a></p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">That work brings practical and economic benefits. Analysts also point to other motives for Beijing's green push: influence and power.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">"Where the Trump administration sees renewable energy as a threat to jobs, China is leveraging clean energy as part of a long-term strategic gambit," wrote <a target="_blank" class="" href="https://www.brookings.edu/articles/chinas-belt-and-road-initiative-is-poised-to-transform-the-clean-energy-industry/">Daniel Araya of the Brookings Institute in Washington, DC, in 2018.</a></p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">China, as part of its "Belt and Road" initiative to grow its global influence, has provided developing countries with renewable energy technologies, including wind farms.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">"Green tech plays a critical role in Xi's economic vision. While China has spent a decade trying to catch up to the United States and other advanced economies in existing tech (like semiconductors), it is increasingly focused on securing leadership in emerging industries like cleantech," said McElwee.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">The strategy is paying off, with global demand for renewable energy production technologies predicted to surge, and China set to account for 60% of installed global renewable energy capacity by 2030, according to an <a target="_blank" class="" href="https://www.iea.org/news/massive-global-growth-of-renewables-to-2030-is-set-to-match-entire-power-capacity-of-major-economies-today-moving-world-closer-to-tripling-goal">October report by the International Energy Agency.</a></p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">The US lags China as a clean tech economic power.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">Trump has been explicit about his plans to repeal and otherwise roll back climate policies from the Biden administration.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">That included <a target="_blank" class="" href="https://www.politico.com/news/2024/09/05/trump-inflation-reduction-act-00177493">a pledge</a> just before the election to "rescind all unspent funds" from President Joe Biden's Inflation Reduction Act, which provided billions in funding for clean tech.</p><h2 id="d064aeb1-2497-4d9c-b893-7e2c1b98241d"><strong>Will China step up? </strong></h2><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">There are also doubts over how much China is willing to take an international leadership role on climate issues.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">It's been wary of international agreements to tackle climate change in the past, and last year was accused by European officials of <a target="_blank" class="" href="https://www.reuters.com/business/environment/china-denies-reports-it-obstructed-g20-climate-discussions-2023-08-02/#:~:text=China%20denies%20reports%20it%20obstructed%20G20%20climate%20discussions%20%7C%20Reuters">obstructing G20 efforts </a>to tackle the climate crisis, Reuters reported. </p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">Assuming a leadership role would likely require China to send money to other countries, said Crowther. </p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">"The key question for officials in Beijing will now turn to whether China wants to deepen its financial commitments to helping other countries—particularly emerging markets—accelerate their own energy transitions," he said.</p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">Crowther said the run up to next year's COP30 summit in Brazil would provide clues of China's intentions. </p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">Ultimately, Xi may be more interested in cementing China's economic advantages than in concrete diplomatic pledges. </p><p id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">"Although Beijing will try to boost its image as a global leader on climate change, I don't know how much substance will follow," said McElwee.</p>

Trump called the climate crisis a scam. It could prove a gift to China.

Climate Action 15: 2024's top global innovators powering green solutions

As the global urgency to combat <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> intensifies, all eyes are on India's <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword>, as there’s no better way to walk the talk than allocating funds. Speculation is rife about the potential measures the government may introduce to accelerate the transition to a sustainable energy future — a move that is supremely necessary after the slew of deadly climate catastrophes that we saw last year.<br /><br />India’s Union Budget 2024 will be presented by Finance Minister Nirmala Sitharaman in a couple of days, and is expected to reflect the nation’s commitment to achieving <keyword id="21280854" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net-zero carbon emissions</keyword> by 2070. Here are some of the key initiatives from the interim budget that was presented in February earlier this year, along with their anticipated impacts!<br /><h2>Rooftop Solarisation</h2>One of the most talked-about initiatives is the ambitious rooftop solar programme, which aims to provide free electricity up to 300 units per month to one crore households. If implemented, this move will help in not only cutting down energy bills — a godsend for the middle- and lower-income folks — but will also give households a chance to generate and even sell their surplus power.<br /><h2>Electric Vehicle (EV) Ecosystem</h2>Charging up the electric vehicle movement, the interim budget included measures to expand EV manufacturing and infrastructure in the country. The move aimed to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword>, reducing emissions from the transport sector and making your commute cleaner and greener. Additionally, the government seemed keen on encouraging the adoption of electric buses to make urban travel more eco-friendly.<br /><div type="Article" hostid="261" msid="111855546" title="Budget 2024: How will budget affect India’s position in the global space race?" mstype="2" mssubtype="0"></div><br /><h2><keyword id="20495045" type="General" weightage="20" keywordseo="offshore-wind-energy" source="keywords">Offshore Wind Energy</keyword></h2>Riding the winds of change, the interim budget introduced a viability gap funding for 1 GW of offshore wind energy. As per the Finance Ministry, this initiative aims to harness the power of India’s vast coastline, pushing the envelope on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> and reducing our fossil fuel dependency.<br /><h2><keyword id="22499996" type="General" weightage="20" keywordseo="national-green-hydrogen" source="keywords">National Green Hydrogen</keyword> Mission</h2>The interim budget also supercharged the National Green Hydrogen Mission with a massive boost to Rs 600 crore from last year’s Rs 297 crore. The government has continually insisted that Green Hydrogen is set to become the fuel of the future, and this announcement supports its development and adoption, paving the way for cleaner industrial processes.<br /><h2>Coal Gasification and Liquefaction</h2>Switching up the coal game, the interim budget plans to set up coal gasification and liquefaction projects that will be able to process 100 metric tonnes by 2030. These projects aim to make the most out of coal in a cleaner way, especially by reducing our reliance on imported natural gas and slashing emissions.<br /><div type="Article" hostid="261" msid="111827903" title="Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure" mstype="2" mssubtype="0"></div><br /><h2>Bioenergy and Biomass Aggregation</h2>Turning waste into wealth, the interim budget has also promised additional financial assistance for biomass aggregation. This, they explain, will help in creating a sustainable model for managing agricultural waste, promoting bioenergy production and giving farmers a new revenue stream.<br /><h2>Research and Development (R&amp;D)</h2>In a nod to innovation, the interim budget allocated a whopping Rs 1 lakh crore for interest-free financing in “sunrise” R&amp;D for emerging <keyword id="19931192" type="General" weightage="20" keywordseo="green-technologies" source="keywords">green technologies</keyword>. If the government follows through on this promise, the funding could catapult a wave of innovation, supporting the transition to a sustainable energy future.<br /><br />By focusing on renewable energy, reducing carbon emissions, and supporting green technologies, India’s initial budget allocations seem to be taking significant strides towards its net-zero goal. Whether this will ultimately pan out to become a greener and more resilient future for its citizens remains to be seen.<br />

Budget 2024: Key sustainability and energy initiatives that Indian government plans to implement this year

In a massive move for the country’s growing climate woes, India is aiming to control weather phenomena like rainfall, lightning, and hail within five years. Dubbed "<keyword id="23131560" type="General" weightage="20" keywordseo="Mission-Mausam" source="keywords">Mission Mausam</keyword>," this government-backed initiative includes the development of <keyword id="23148975" type="General" weightage="20" keywordseo="Mausam-GPT" source="keywords">Mausam GPT</keyword>, a weather AI model designed to enhance prediction accuracy and even manipulate the weather. This would make India one of the first countries to experiment with <keyword id="21369368" type="General" weightage="100" keywordseo="weather-modification" source="keywords">weather modification</keyword> on a significant scale.<br /><h2>Mission Mausam</h2>India’s "Mission Mausam" aims to reshape the future of weather management by using technology to control rain. Over the next 18 months, the government will start with lab simulations to either enhance or suppress rainfall. The ultimate goal, as outlined by Earth Sciences Secretary M. Ravichandran, is to roll out full-scale weather modification within five years. He stated that the initiative could even target events like Independence Day, where “one can think about suppressing rain.”<br /><br />By deploying <keyword id="20644540" type="General" weightage="20" keywordseo="cloud-seeding" source="keywords">cloud seeding</keyword> techniques alongside AI-driven weather prediction tools like "Mausam GPT," the mission seeks to significantly improve India’s ability to manage extreme weather conditions. A key aspect of the plan involves building a robust system of advanced radars, supercomputers, satellites with high-performance sensors, and GIS-based decision support systems. This cutting-edge tech is expected to boost India’s short- and medium-range weather forecasting accuracy by 5-10%, ensuring no event — such as cloudbursts — goes undetected.<br /><div type="Article" hostid="261" msid="113251187" title="India braces for an intensely harsh winter as La Niña takes hold" mstype="2" mssubtype="0"></div>India is not new to weather manipulation efforts. The government has been running pilot projects, such as the Cloud Aerosol Interaction and Precipitation Enhancement Experiment (CAIPEEX) in Maharashtra, to study cloud properties and enhance rainfall.<br /><h2>Why is weather manipulation necessary and is it safe?</h2>Extreme weather events in India, like deadly floods, droughts, and hailstorms, have noticeably increased in frequency due to <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword>. Mission Mausam could potentially give India an edge in combating these disasters. For example, imagine preventing a flood by suppressing rain or creating artificial rain during a drought. India’s investment of Rs 2,000 crore over two years certainly reflects the seriousness of the mission, which is expected to expand further as research progresses.<br /><br />However, weather modification, including cloud seeding, is not without controversy. Globally, cloud seeding has had limited success, with countries like the US, Russia, and China also experimenting with these methods but facing inconsistent results. Even former MoES Secretary Madhavan Rajeevan has noted that “the technology is complex” and still in its developmental stages.<br /><div type="Article" hostid="261" msid="112825937" title="Shivaji Maharaj Statue collapse: Identifying 5 reasons behind the accident" mstype="2" mssubtype="0"></div>Further, the potential downsides can't be ignored. While controlling the weather could save lives, meddling with natural processes is risky. Weather manipulation might have unintended ecological consequences, like shifting rainfall patterns that could harm ecosystems and agriculture. It may also pose geopolitical risks, as neighbouring countries could accuse India of altering weather systems that affect their own climates.<br /><br />Ultimately, while the idea of managing the weather may seem appealing, it opens up a Pandora’s box of environmental and ethical challenges that need careful consideration.<br />

The Indian government is taking steps to control rainfall and weather within five years — is it too risky of a move?

<ul class="summary-list"><li>Scientists predicted how climate hazards will worsen in nearly 1,000 major cities by 2100.</li><li>Heat waves, energy demand, and mosquito-borne diseases will spike as global temperatures rise.</li></ul><p><span>Monthlong heat waves. Skyrocketing energy demand. Greater risks of </span><a target="_blank" href="https://www.businessinsider.com/west-nile-triple-e-mosquito-virus-diseases-us-2024-9"><u><span>mosquito-borne diseases</span></u></a><span>.</span></p><p><span>These are the climate hazards that people living in nearly 1,000 of the world's largest cities will continue to face as global average temperatures rise through the end of the century, a new analysis by the World Resources Institute, an environmental-research group, found. And the impacts won't be felt equally. People living in low-income cities in sub-Saharan Africa, Latin America, and Indonesia face the greatest threats.</span></p><p><span>The findings come as </span><a target="_blank" rel="noopener" href="https://climate.copernicus.eu/copernicus-summer-2024-hottest-record-globally-and-europe"><u><span>2024 is on track to be the hottest year on record</span></u></a><span>, and billions of people are expected to move into urban areas in the coming decades. More than half the world's population, or 4.4 billion people, lives in cities. By 2050, city dwellers are forecast to make up two-thirds of humanity, with the vast majority of that growth in Africa and Asia. Some 2 billion people currently live in the cities that WRI studied, from Seattle and Rio de Janeiro to Johannesburg and Bengaluru, India.</span></p><p><span>"Most climate modeling looks at hazards, exposure, and risks at a national scale because that's where a lot of policymaking and international agreements are focused," Eric Mackres, the senior manager of data and tools at the WRI Ross Center for Sustainable Cities and a coauthor of the study, said. "But that's disconnected from where people live. We wanted to put more localized information in the hands of those decision-makers so they're informed about the risks that they are likely to experience."</span></p><h2 id="c108ac2f-66b9-4462-bb7a-b51785a2b482"><span>Local climate hazards</span></h2><p><span>To make predictions at a city level, Mackres said WRI built on global climate modeling done by hundreds of other researchers. These models contain daily information — both historical data and projections through 2100 — on air temperature, humidity, and precipitation. WRI used that data to make its own projections about the length and frequency of heat waves, how often people will need to cool their homes and workplaces, and the number of days with optimal temperatures for mosquitoes in cities with at least half a million people. WRI compared how those local hazards are expected to change as global average temperatures rise from 1.5 degrees Celsius to 3 degrees Celsius above preindustrial levels — a threshold scientists say the world is likely to cross by 2100.</span></p><p><span>The world has warmed by about 1.2 degrees so far compared with mid-1800s levels, and the consequences are playing out around the world.</span></p><div type="image" title="A graph shows how long heat waves will last in seven regions around the world under 1.5 degrees of global warming compared to preindustrial levels." height="1080" width="1080" msid="113493288" hostid="261" sizebytes="66672"></div><p><span>In Bengaluru, India's fifth-most-populous city, extreme heat has caused severe water shortages and surging energy demand. Under 1.5 degrees of warming, heat waves could last about 13 days on average and stretch to nearly 38 days as global temperatures rise, WRI found. Bengaluru last year </span><a target="_blank" href="https://wri-india.org/news/release-bengalurus-first-ever-climate-action-plan-launched"><u><span>launched its first climate-action plan</span></u></a><span>, which includes planting trees and expanding green spaces to help cool down urban centers.</span></p><p><span>An enormous outbreak of dengue fever is underway in Brazil. In Rio de Janeiro, peak days for transmission of mosquito-borne illnesses could increase from 69 to 118 a year, WRI found. The city is investing in vaccines, and community health workers are hunting down places that help mosquitoes breed, including standing water, to reduce risks.</span></p><p><span>Meanwhile, places that haven't had to consider cooling strategies are now being forced to, including the US Pacific Northwest. Seattle was once the least-air-conditioned city. Now it ranks second behind San Francisco after a series of deadly heat waves prompted residents to install AC. The trend is playing out in cities that are already hot, too, like Tehran, Iran, and Marrakech, Morocco, and spiking energy demand along the way. If that demand is met with fossil fuels like oil, gas, and coal, it could exacerbate the climate crisis, WRI said.</span></p><p><span>WRI noted that there are limitations to its research, in part because there are a lot of unknowns about the future. National governments and cities can slow the climate crisis and protect people from its impacts, including by shifting away from fossil fuels and investing in infrastructure that's more resilient to heat and storms.</span></p><p><span>"Our findings are not a foregone conclusion," Mackres said. "These are choices we have between 1.5 and 3 degrees of warming, and none are out of the realm of possibility. It's really important that national decision-makers understand the impacts on cities and the actions that cities can take to both reduce climate change and to adapt to what's coming."</span></p><p><a target="_blank" href="https://public.flourish.studio/visualisation/19141193/"><u><span>You can explore the data for your city here.</span></u></a></p>

A new tool shows what the climate crisis could feel like in your city

<ul class="summary-list"><li><keyword id="19906203" type="General" weightage="20" keywordseo="Trump" source="keywords">Trump</keyword> said at a rally on Saturday that he supports <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> because <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> endorsed him.</li><li>However, he also criticized <keyword id="20415012" type="General" weightage="20" keywordseo="EV-infrastructure" source="keywords">EV infrastructure</keyword> and <keyword id="22767001" type="General" weightage="20" keywordseo="Bidens-EV-mandates" source="keywords">Biden's EV mandates</keyword>.</li></ul>Former President <keyword id="19918985" type="General" weightage="20" keywordseo="donald-trump" source="keywords">Donald Trump</keyword> said he had "no choice" but to support electric vehicles after <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla CEO Elon Musk</a> "endorsed" him.<br /><br />Trump then went on to criticize the EV industry at length.<br /><br />Musk has long been a champion of the pivot to electric vehicles. His company, <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>, has largely led the way in developing the industry, which for a time made Musk a darling of the <keyword id="22767002" type="General" weightage="20" keywordseo="climate-conscious" source="keywords">climate-conscious</keyword> left.<br /><br />But Musk has more recently embraced conservative politics, especially the issue of free speech. Musk bought Twitter in 2022, rebranded it to X, and has dismantled many of the checks and balances meant to limit hateful speech and misinformation on the platform.<br /><br />Musk has publicly supported Trump since <a target="_blank" class="" href="https://www.businessinsider.com/trump-not-going-to-become-nice-shooting-didnt-change-him-2024-7">the assassination attempt</a> last month. Musk, however, has denied reports that he pledged <a target="_blank" class="" href="https://www.businessinsider.com/musk-trump-donation-campaign-finance-reform-2024-7">a $45 million donation</a> to a pro-Trump super PAC.<br /><br />At a rally in Georgia on Saturday, Trump told the crowd he supported electric cars but thought people should still have access to <keyword id="20758116" type="General" weightage="20" keywordseo="gas-vehicles" source="keywords">gas vehicles</keyword>.<br /><br />"I'm for electric cars. I have to be because, you know, Elon endorsed me very strongly," Trump told the crowd. "So, I have no choice."<br /><br />He then clarified that he only supports them as a "small slice" of the larger auto industry.<br /><br />"You want to have gas-propelled cars. You want to have hybrids. You want to have every kind of car," he said.<br /><br />Trump has repeatedly attacked the Biden administration's electric vehicle regulations, including its <a target="_blank" class="" href="https://www.businessinsider.com/biden-is-probably-going-to-ease-strict-ev-requirements-2024-2">plan to grow electric vehicle sales</a> to half of all new vehicle sales by 2030.<br /><br />While speaking at a bitcoin conference in July, Trump gave similar remarks when referencing Biden's regulations, which also make it more <a target="_blank" href="https://www.businessinsider.com/why-car-dealers-worried-about-biden-ev-mandate-letter-2023-11">difficult for gas-powered cars to meet EPA standards</a>.<br /><br />"Not everybody has to have an electric car. I told him that," Trump said, referencing Musk. "So we're going to get rid of that mandate if you don't mind. Some people want gasoline-propelled cars, some people want a hybrid, and some people like an electric car."<br /><br />Trump has also repeatedly criticized the cost of installing EV chargers nationwide. He erroneously claimed the government built eight chargers in the Midwest for $9 billion.<br /><br />He's given wildly inconsistent estimates for how much it would cost to install EV chargers nationwide. At the bitcoin conference, he said it would cost $12 trillion. At a North Carolina rally on July 24, he said it would cost $5 trillion. And at the Atlanta rally on Saturday, he said it would cost $9 trillion.<br /><br />The bipartisan Infrastructure Investment and Jobs Act of 2021 included $7.5 billion to help pay for thousands of electric vehicle chargers around the country, <a target="_blank" class="" href="https://www.eenews.net/articles/trump-targets-anemic-biden-effort-to-build-ev-chargers/">Politico reported</a>.<br /><br />The White House's infrastructure tracking website shows that only 15 charging stations have been installed so far. An analysis published by research firm Atlas Public Policy shows that each station received about $770,000 in federal funding, Politico reported.<br /><br /><em>Correction: August 5, 2024 — An earlier version of this story misstated when Trump's Atlanta and North Carolina rallies were. His Atlanta rally was on Saturday, not Sunday, and his North Carolina rally was on July 24, not Thursday. It also misstated when he gave different estimates for the cost of installing EV chargers nationwide. He said it would cost $5 trillion at the North Carolina rally and $9 trillion at the Atlanta rally, not the other way around.</em><br />

Trump says he has 'no choice' but to support electric vehicles because Elon Musk 'endorsed me very strongly'

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers.<br /><br />Here's a breakdown of the key initiatives announced:<br /><h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications.<br /><h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power.<br />  <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div><br /><h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>.<br /><br />Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time.<br /><h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials.<br /><h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current '<em>Perform, Achieve and Trade</em>' mode.<br /><h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase.<br /><br />As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally.<br />  <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div><br /><h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change.<br />  <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div><br /><h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies.<br /><h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. <br /><br />All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.<br />

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

<ul class="summary-list"><li>The climate crisis is affecting business across industries, and the art market is no exception.</li><li>Art investors, collectors, and curators can take steps to build more sustainable portfolios.</li></ul><p>In an era when the climate crisis is <a target="_blank" class="" href="https://www.businessinsider.com/extreme-weather-biggest-concern-business-leaders-politicians-world-economic-forum-2024-1">redefining</a> business across industries worldwide, the art market is also faced with the need to adapt to the effects of <a target="_blank" class="" href="https://www.businessinsider.com/worlds-largest-carbon-removal-plant-iceland-climeworks-2024-5">rising emissions</a>.</p><p><a target="_blank" class="" href="https://www.businessinsider.com/climate-change-migration-where-moved-escape-natural-disasters-extreme-weather">Extreme weather events</a>, <a target="_blank" class="" href="https://www.businessinsider.com/more-expensive-cool-home-this-summer-extreme-heat-energy-bills-2024-6">temperature fluctuations</a>, and pollution are no longer abstract concerns but tangible threats to the longevity of art collections. Pollutants such as sulfur dioxide and nitrogen oxides, produced from fossil fuel combustion, can <a target="_blank" href="https://www.jstor.org/stable/1506270">cause pigments to degrade more rapidly</a> than in controlled environments. This could reduce both the lifespan and the <a target="_blank" href="https://www.theeditgallery.com/blog/7-factors-that-determine-the-commercial-value-of-art/">value</a> of artworks.</p><p>As a result, some investors, collectors, and gallery curators in the art market are placing emphasis on environmental responsibility when assembling their portfolios — part of a practice called "<a target="_blank" class="" href="https://www.businessinsider.com/companies-still-doing-esg-work-despite-politics-criticism-2023-11">impact investing</a>."</p><p>Hauser &amp; Wirth, a gallery at the forefront of this movement, has set a new precedent for major galleries by <a target="_blank" href="https://www.hauserwirth.com/sustainability/">committing to reduce at least 50%</a> of its greenhouse-gas emissions by 2030 by adopting <a target="_blank" class="" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">renewable energy</a>, reducing freight travel, and <a target="_blank" href="https://www.hauserwirth.com/resources/36036-industry-collaboration/">collaborating</a> with climate-conscious artists who promote sustainable practices in the industry. The gallery's approach exemplifies how investors in the art world can adapt to and mitigate the effects of the climate crisis when curating their collections.</p><p>From investing in artists who also prioritize environmental awareness to adopting renewable energy in art facilities, here are four green strategies for building a low-carbon art portfolio.</p><h2 id="eb55b99a-543e-4bfe-98c5-a5aa201f34dd"><strong>Invest in artists who promote environmental awareness</strong></h2><p>Some artworks that tackle environmental themes have been <a target="_blank" href="https://www.christies.com/about-us/press-archive/details?PressReleaseID=10156">rising in market value</a>, as more collectors and galleries recognize the growing importance of backing artists whose work resonates with the <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-climate-jobs-skills-gap-linkedin-2024-6">climate priorities</a> of younger generations.</p><p>The value of art is often linked with its cultural relevance — aligning a portfolio with social-impact initiatives can elevate its worth by tackling current issues.</p><p>For instance, <a target="_blank" href="https://www.bohnettfoundation.org/david-bohnett-bio/">David Bohnett</a>, a philanthropist and tech entrepreneur, is known for his contemporary art collection focused on social justice and sustainable art. His collection features notable figures like <a target="_blank" href="https://www.haring.com">Keith Haring</a>, an artist who championed LGBTQ+ rights, and <a target="_blank" href="https://www.instagram.com/robbieconal/?hl=en">Robbie Conal</a>, known for his street art critiquing societal and environmental injustices. Bohnett's portfolio, estimated to be worth <a target="_blank" href="https://labusinessjournal.com/news/weekly-news/former-internet-executive-social-causes-technology/">$300 million,</a> reflects a broader trend in which a growing demand for civic art, especially in niche markets, can drive value appreciation.</p><h2 id="c0c53a51-5816-44cd-a0ba-94f9de2cf87b"><strong>Reduce carbon emissions in transportation</strong></h2><p>From public exhibits to private collections, the global transportation of art can significantly increase the carbon footprints of galleries, collectors, and investors — especially when air travel is involved.</p><p>Our World in Data found that air travel is one of the <a target="_blank" href="https://ourworldindata.org/global-aviation-emissions">most carbon-intensive shipping methods.</a> Exploring transportation alternatives offers collectors an opportunity to make a substantial impact.</p><p>The art collector <a target="_blank" href="https://affiliate.insider.com?h=92e88559d49ece5eda2f8562277f4b94f913cc23f9e8a016a985b0ef95f48097&amp;postID=66e3163c78044123bec3af96&amp;postSlug=art-investors-collectors-gallery-curators-build-sustainable-climate-portfolio-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Farticles%2Feco-revolution">Sibylle Rochat</a> opts for consolidated land transport that combines multiple shipments into one vehicle and sea freights that use fuel-efficient ships for long distances, both of which can significantly <a target="_blank" href="https://www.freightos.com/freight-resources/air-sea-freight-co2-emissions-calculator/#:~:text=How%20Much%20CO%E2%82%82%20Does%20A,ton%20per%20kilometer%20of%20transportation.">reduce</a> carbon emissions.</p><h2 id="474b1606-7596-45e5-9875-3a6bdb4ce3e9"><strong>Transition to renewable energy for art facilities</strong></h2><p>Art storage facilities are designed to maintain optimal conditions for artworks, ensuring appropriate temperature, humidity, and lighting to prevent deterioration or damage.</p><p>These sites traditionally rely on energy-intensive climate-control systems powered by fossil fuels. By transitioning to renewable energy sources like <a target="_blank" class="" href="https://www.businessinsider.com/fastest-growing-career-wind-technicians-job-salary-us-2024-6">wind</a> and <a target="_blank" class="" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">solar</a>, upgrading climate-control systems for greater energy efficiency, and adopting LED lighting that can cut energy <a target="_blank" href="https://www.energy.gov/energysaver/led-lighting">consumption by up to 75%</a>, collectors and gallery curators can reduce the environmental impact of their art storage.</p><p>The art collector <a target="_blank" href="https://www.theartnewspaper.com/2020/05/29/the-green-debate-how-can-the-international-art-market-recover-sustainably">Patrizia Sandretto Re Rebaudengo</a> is known for her philanthropic work in the arts and sustainability. She plans to transform the small Italian island of San Giacomo into an art center with galleries, performances, and educational programming. The island is set to open to the public in 2026 and will be <a target="_blank" class="" href="https://affiliate.insider.com?h=2076c8cb19f6cc35f23092635f451d8381d45772c637e5fbd05ed2e083ce1cfd&amp;postID=66e3163c78044123bec3af96&amp;postSlug=art-investors-collectors-gallery-curators-build-sustainable-climate-portfolio-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Farticles%2Fgulls-gunpowder-and-avant-garde-art-patrizia-sandretto-re-rebaudengos-venetian-dream">fully powered by green energy</a>, Sandretto Re Rebaudengo said.</p><div type="image" title="Patrizia Sandretto Re Rebaudengo standing in front of a red tree sculpture with ornaments hanging from the branches." height="683" width="1024" msid="113607066" hostid="261" sizebytes="42906"></div><h2 id="974da666-4871-4b46-9045-bbd114022b5f"><strong>Go digital</strong></h2><p>The international art circuit consists of global <a target="_blank" class="" href="https://www.businessinsider.com/art-basel-unlimited-switzerland-curator-shares-how-exhibit-comes-together-2024-6">exhibitions</a>, events, and art auctions. It has long relied on extensive travel and foot traffic that can increase the industry's carbon footprint.</p><p>As digital platforms gain widespread adoption, online exhibits present a cost-effective way to diversify investments while reducing transportation and storage needs.</p><p>The COVID-19 pandemic prompted galleries like <a target="_blank" href="https://deitch.com/archive/deitch-projects">Deitch Projects</a> to adopt digital showcases and <a target="_blank" href="https://www.nytimes.com/2020/04/23/arts/design/los-angeles-galleries-coronavirus.html">online viewing rooms</a>, reducing international travel and reshaping art acquisition practices. The <a target="_blank" href="https://www.stephenfriedman.com/viewing-room/">Stephen Friedman Gallery</a> is hosting five online viewing room showcases throughout 2024, bringing in-person exhibitions directly to screens at home.</p><p>Collectors, gallery curators, and investors play a crucial role in shaping a sustainable future. The assembly of portfolios that prioritize environmental responsibility actively contributes to a greener legacy that will inspire future generations to take action and stand as a testament to art's power to shape a better world.</p><p>From supporting artists who promote environmental awareness to reducing carbon footprints in operations and embracing digital platforms, collectors, gallery curators, and investors are preserving art and its legacy in their fight to curb the climate crisis.</p>

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