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According to a new analysis, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> contributed $1.28 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> through <keyword id="20401772" type="General" weightage="20" keywordseo="multilateral-development-banks" source="keywords">multilateral development banks</keyword> (MDBs) in 2022, surpassing the contributions of many developed countries. The study, conducted by the UK-based think tank ODI and the <keyword id="23038658" type="General" weightage="20" keywordseo="Zurich-Climate-Resilience-Alliance" source="Orion">Zurich Climate Resilience Alliance</keyword>, comes amid a renewed push by some developed countries to broaden the donor base for climate finance to include developing countries like China and <keyword id="50996" type="General" weightage="20" keywordseo="Saudi-Arabia" source="Orion">Saudi Arabia</keyword>. The report reveals that only 12 developed countries provided their fair share of international climate finance in 2022. These countries are -- Norway, France, Luxembourg, Germany, Sweden, Denmark, Switzerland, Japan, the Netherlands, Austria, Belgium and Finland. Researchers noted that the significant gap in climate finance is largely due to the United States failing to contribute its fair share. Australia, Spain, Canada and the United Kingdom also performed relatively poorly in this regard. The analysis has identified the top 30 non-Annex II countries that provided substantial climate finance to developing countries in 2022 through multilateral contributions to development banks and climate funds. This group includes former economies in transition like Poland and Russia, countries that have achieved high-income status since 1992, such as Chile, Kuwait, Saudi Arabia and South Korea, and middle-income countries with large populations, including Brazil, China, India, Indonesia, Mexico, Nigeria, the Philippines and Pakistan. India provided $1.287 billion in climate finance to other developing countries through MDBs in 2022, a sum larger than what was contributed by some developed countries like Greece ($0.23 billion), Portugal ($0.23 billion), Ireland ($0.3 billion) and New Zealand ($0.27 billion). China provided $ 2.52 billion in climate finance through MDBs in 2022, Brazil gave $ 1.135 billion, South Korea gave $1.13 billion and Argentina gave $1.01 billion. According to the United Nations Framework Convention on Climate Change (<keyword id="21931277" type="General" weightage="20" keywordseo="UNFCCC" source="keywords">UNFCCC</keyword>), adopted in 1992, high-income, industrialised countries (referred to as Annex-II countries) are responsible for providing finance and technology to help developing countries combat and adapt to climate change. These countries, including the US, Canada, Japan, Australia, New Zealand and European Union (EU) member states, such as Germany, France and the UK, have historically benefitted from industrialisation and contributed the most to greenhouse gas emissions. At COP15 in Copenhagen in 2009, these developed countries pledged to jointly provide $100 billion each year by 2020 to help developing countries mitigate and adapt to climate change. However, this target has not been fully met, leading to a significant finance gap. This shortfall has eroded trust and hindered climate action in developing countries. In May, the Organisation for Economic Cooperation and Development (<keyword id="19916574" type="General" weightage="20" keywordseo="OECD" source="keywords">OECD</keyword>) claimed that developed countries had met the long-standing $ 100 billion-a-year promise by providing nearly $ 116 billion in climate finance to developing countries in 2022, with nearly 70 % of the money given in the form of loans. The ODI researchers pointed out that many developed countries, despite performing well in terms of climate-finance contributions, would make "markedly less progress towards meeting their fair share if the finance provided was accounted for on grant-equivalence terms" -- in other words, if it reflected their real fiscal effort. The report calls for the inclusion of a "burden-sharing mechanism" in the New Collective Quantified Goal (NCQG) to provide clarity on each country's obligations and hold countries accountable. The NCQG refers to the new, larger amount that developed nations must mobilise annually, starting 2025, to support climate action in developing countries. Countries are expected to finalise the NCQG at this year's UN climate conference -- <keyword id="20082972" type="General" weightage="20" keywordseo="COP29" source="keywords">COP29</keyword> -- in Baku, Azerbaijan in November. The current $100 billion annual climate-finance goal is a collective commitment by developed countries. Its collective nature has meant that individual developed countries are not accountable for specific sums of money, potentially reducing the overall amount of climate finance provided due to the lack of individual scrutiny. The inclusion of a burden-sharing arrangement among developed countries could potentially strengthen the NCQG by fostering greater accountability and trust among parties, according to the ODI researchers. Many developing countries, including India, have recently advocated for such an arrangement to enhance accountability among developed countries.

India provided more climate finance in 2022 than many rich nations, noted recent report

<keyword id="3820" type="General" weightage="100" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director, Reliance Industries, has been appointed as the member of <keyword id="223206" type="General" weightage="80" keywordseo="advisory-committee" source="Orion">Advisory Committee</keyword> to the President of the 28th Session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC). Mukesh Ambani joined other important global leaders on the COP28 Advisory Council such as Larry Fink, Chairman and CEO of BlackRock, Olafur Grimsson, Chairman of Arctic Circle (Former President of Iceland), Laurent Fabius, President of COP21 / Paris Agreement, Former Prime Minister of France, Francesco La Camera, Director General, International Renewable Energy Agency (IRENA), Bob Dudley, Chair of the Oil &amp; Gas Climate Initiative (OGCI), former CEO of BP. Mukesh Ambani is the only Indian, other than <keyword id="111359" type="General" weightage="50" keywordseo="sunita-narain" source="Orion">Sunita Narain</keyword>, Director General, Centre for Science and Environment, on the Advisory <keyword id="47865" type="General" weightage="80" keywordseo="committee" source="Orion">Committee</keyword> to the President of COP28. The COP28 UAE Advisory Committee brings together the climate expertise of thought leaders from countries across six continents. Representing policy, industry, energy, finance, civil society, youth, and humanitarian action, the 31 members of the Committee, of which 65 per cent are from the Global South, will provide guidance and counsel to the COP Presidency in the run up to COP28 and beyond. The UNFCCC Secretariat announced in January 2023 appointed <keyword id="2021753" type="General" weightage="50" keywordseo="sultan-ahmed-al-jaber" source="Orion">Sultan Ahmed Al Jaber</keyword>, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, as COP 28 President-Designate. UAE has been chosen to host the 28th session of the Conference of Parties (COP 28) to the UNFCCC (United Nations Framework Convention on Climate Change) from November 30, 2023 to December 12, 2023. It will be held at Dubai Expo City. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lic-shares-surge-over-3-after-it-posts-a-five-fold-jump-in-q4-net-profit/articleshow/100495712.cms">LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-titan-eicher-motors-tata-motors-reliance-and-other-big-companies-performance-in-nifty-50/articleshow/100474408.cms">Big boys drive Nifty50’s revenue and profit growth in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/gqg-partners-rajiv-jain-doubles-down-on-his-adani-bet/articleshow/100450041.cms">GQG Partners’ Rajiv Jain doubles down on his Adani bet</a>

Mukesh Ambani joins COP28 Advisory Committee

New Delhi, Dec 7 () India is participating with a constructive outlook at the Madrid climate talks and will work to protect its long-term development interests, Union Environment Prakash Javadekar said on Saturday.
Before leaving for the UN-hosted climate negotiations in the Spanish city, Javadekar enumerated India's efforts in mitigating the effects of climate change and said the country "is leading from the front in climate action".
"PM was the first to propose Solar Alliance and Coalition for Disaster Resilient Infrastructure," he said. "India's ambitious renewable energy programme of 450 GW has attracted world attention as it is the largest renewable programme in the world."
Javadekar said India has reduced its emission intensity by 22 per cent over 2005 and it is one of the few countries which had increased tree cover in and outside the forest.
On Nov 27, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved India's negotiating stand at the 25th Conference of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) in Madrid, Spain.
COP-25, which started on Dec 2 and concludes on Dec 13, is an important conference on climate change as countries prepare to move from pre-2020 period under the Kyoto Protocol to post-2020 period under the Paris Agreement.
Officials say India's approach will be guided by principles and provisions of UNFCCC and Paris Agreement, particularly the principles of Equity and Common But Differentiated Responsibilities and Respective Capability (CBDR-RC).
In Sep, during the Climate Action Summit convened by the UN secretary-general, Prime Minister Modi had announced India's plan on scaling up of renewable energy target to 450 GW and called for responsible action by all on the principles of equity and CBDR-RC.
India has been leading the world in pursuit of solar energy capacity. It has also emphasized that developed countries should take lead in taking ambitious actions and fulfil their climate finance commitments of mobilizing USD 100 billion per annum by 2020.
At the climate talks, India will stress on the need to fulfil pre-2020 commitments by developed countries and that pre-2020 implementation gaps should not present an additional burden to developing countries in the post-2020 period. AG ABH
ABH

Climate talks: Javadekar says India will work to protect its long-term development interests

<ul><li><keyword id="6355629" type="COMPANY" weightage="20" keywordseo="google">Google</keyword> has collaborated with scientific agencies and artists to come up with a unique initiative. </li><li>The Heartbeat of the Earth experiment shows challenges our climate faces through creative data visualizations.</li><li>Do check out the amazing work of these artists to understand the project better.</li></ul>After releasing the <a href="https://www.businessinsider.in/tech/news/google-earth-timelapse-shows-climate-change-impact-over-years/articleshow/82097634.cms">3D Timelapse feature</a> to track <keyword id="6361617" type="UNKNOWN" weightage="20" keywordseo="climate-change">climate change</keyword> impact on Google Earth, the search giant has now shared <a href="http://g.co/heartbeatoftheearth">a set of climate experiments</a> under the “Heartbeat of the Earth” initiative -- a series of online artworks depicting scientific climate data. The project is a collaboration between Google <keyword id="6435122" type="UNKNOWN" weightage="20" keywordseo="arts">Arts</keyword> &amp; Culture Lab, the <a href="https://newsroom.unfccc.int/about-us/about-the-secretariat">United Nations Framework Convention on Climate Change (UNFCCC)</a>, and a bunch of artists. It was first introduced last year during world environment day. These artists used key findings from a UN report and data from scientific institutions like the US-based National Oceanic and Atmospheric Administration (NOAA) and the World Meteorological Organisation, to create interactive pieces of art concerning our climate. The eight pieces of art address topics like air pollution, rising sea levels, melting glaciers, the impact of microplastics, declining biodiversity and other climate change-related issues. Google has published a blog post a couple of days before <keyword id="6453991" type="UNKNOWN" weightage="20" keywordseo="Earth-Day">Earth day</keyword> -- April 22 -- to share <a href="http://g.co/heartbeatoftheearth">the new climate experiments</a> created by artists Giorgia Lupi, Felicity Hammond, Cristina Tarquini and Sey Min. These interactive art pieces let you learn about the climate challenges using creative data visualisations, which is a simpler medium to convey complex subjects instead of complicated graphs and charts. Using art and culture to build a sustainable future <div type="Youtube" id="PcMbRWWBV9k" title="Heartbeat of the Earth: the latest artistic exploration of climate data" thumbUrl="https://i.ytimg.com/vi/PcMbRWWBV9k/mqdefault.jpg"></div> Artists bring the answer to the most complex scientific questions through art. Answers to questions like where do the disposed plastic go, or what can jellyfish teach us about climate change, or simply what species will be lost due to temperature rise? The first creative experience is called the '<a href="https://artsexperiments.withgoogle.com/plasticair/">Plastic Air</a>' that depicts how plastic is degraded into minute pieces (microplastics) which are mixed with the air we breathe. Made by data artist Giorgia Lupi and team, the art gives you a lens to virtually explore the plastic particles that are present around us. It is a breathtaking and eye-opening interactive that you must see. Then there is an intriguing art by Cristina Tarquini called '<a href="https://artsexperiments.withgoogle.com/medusae/">Medusae</a>' that uses point cloud visualisation that lets you take a virtual dive into the Mediterranian Ocean to find out what jellyfish can teach us about the changing climate as they are the master of adaptation to the most uninhabitable conditions, proven over 670 million years of change. It tells us that the increase in the number of jellyfishes is a clue to climate change as it affects them differently than other fish species. Rising temperature, a decline in predator species, acidifying water and lack of oxygen has made them thrive. This interactive art takes you through the journey to show how jellyfish are key indicators of the change. The next art is called the '<a href="https://artsexperiments.withgoogle.com/impactfilter/">Impact Filter</a>', created by artist Sey Min. It is also an interactive tool that lets you see what we might lose due to temperature rise. The artist has used a machine learning model on thousands of images of 62 different types of species sorted by animal type. There's a bar to change the temperature to see what happens to different species and reveal the new Anthropocene species we leave behind. Similarly, there are a bunch of other interactive art pieces from different artists. You can <a href="https://experiments.withgoogle.com/collection/heartbeat-earth">visit this link</a> to find all of them in one place and take a look at the art pieces by yourself.

Google's Arts & Culture experiment uses jellyfish, bumblebees, flying cigarette butts and more to teach us about climate change

<ul class="summary-list"><li>The United Nations <keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">Climate Change</keyword> Conference, known as <keyword id="12037021" type="UNKNOWN" weightage="60" keywordseo="cop26" source="Orion">COP26</keyword>, is convening in November in <keyword id="12216950" type="UNKNOWN" weightage="60" keywordseo="glasgow" source="Orion">Glasgow</keyword>, Scotland.</li><li>The summit is where countries around the world will put forward new climate change commitments.</li><li>Key talking points will include carbon markets regulation and net-zero financial responsibilities.</li></ul>Dubbed a "turning point for humanity," COP26 is the upcoming climate summit set to pave the way for our path to net-zero.From November 1-12 in Glasgow, Scotland, world leaders - and famous faces from David Attenborough to Pope Francis - will come together to negotiate how countries around the globe can tackle the challenges posed by global warming. <h2>What is COP26?</h2>COP stands for Conference of the Parties, and this year marks the 26th global gathering - hence, COP26. Since 1995, national governments from across the globe have come together at COP to negotiate deals that will provide a worldwide strategy for combatting climate change.<h2>What makes COP different from other climate summits? </h2>"Unlike other environmental summits, COP is both global and inclusive," explains Chris Venables, head of politics at environmental think-tank <a href="https://green-alliance.org.uk/index.php">Green Alliance.</a> The system is "one country, one vote," meaning everyone has their say, creating space for an equitable conversation.Overseen by the <a href="https://unfccc.int/">United Nations Framework Convention on Climate Change</a> (UNFCCC), it brings together delegates from around the world, including heads of state, policymakers, and climate scientists. COP also engages with the public via businesses, youth and faith groups, academics, and civil society. <h2>Who else will be there?</h2>Some 20,000 accredited delegates will visit Glasgow, as well as leaders of all signatories, including US President Joe Biden. Though the UK government has pledged vaccines for all delegates, it is unclear exactly who is going to make it there in November. "Making the event accessible is crucial as it ensures delegates from developing countries, and especially climate-vulnerable countries, will have their voices heard," says Venables. Because of vaccine inequality between wealthy and poor nations, some people, <a href="https://www.businessinsider.com/greta-thunberg-not-attending-cop26-citing-countries-vaccine-inequality-2021-4">such as Greta Thunberg</a>, are considering boycotting.<h2>What does COP aim to do?</h2>Put simply, reduce carbon emissions. The world aligns at COP to determine goals for combating climate change in a timeframe that allows ecosystems to adapt naturally."The aim is to stabilize greenhouse gas concentrations in the atmosphere to prevent dangerous levels of global average temperature rise," says Venables. "COP is a critical opportunity to take stock of global progress and finalize rules that haven't yet been agreed by governments," adds Shyla Raghav, vice president of climate change at Conservation International, who has been following the proceedings closely. She says reaching a consensus is crucial if we want to combat climate change. <h2>Why is this year's COP so important?</h2>The Paris Agreement was signed at COP in 2015. As a result of that agreement, each country attending this year will put forward a Nationally Determined Contribution (NDC) outlining their commitment to reducing emissions. "At COP26, countries have to upgrade their national climate plans for the first time since presenting them in Paris," explains Venables.These NDCs may prove contentious as different countries push for targets that suit their own agendas, and could make or break our chances of limiting global warming to between 1.5 to 2 degrees Celsius above pre-industrial levels (the number agreed upon in Paris).We're coming up against a global stock take, explains Raghav. "We will add up these contributions and assess their fairness." In 2023, a subsequent report will indicate whether we are on track to reduce emissions in time.<h2>What should I look out for at COP26?</h2>From nature-based solutions to COVID-related setbacks and how to mitigate our way to net-zero, there's a lot on the COP26 agenda.Article 6, the last section of the Paris Agreement to be finalized, will be a big one to watch. It includes a common framework for regulating international carbon markets that could bring additional public and private finance to emission reduction efforts. This would make mitigating the effects of climate change more cost effective.Coal will also make a big appearance in negotiations. But global commitments on phasing it out will prove contentious to countries dependent on it, such as China, India, and Russia, according to Venables.Countries will also discuss who should bear the greater financial burden in future efforts.Not only may developing countries, economically overburdened by the pandemic, ask for help financing their NDC requirements, but many countries feel the cost of addressing climate change should weigh heaviest on industrialized countries who are historically most responsible."Developing nations will ask for a flow of financing and tech to help meet their commitments," explains Raghav.With 36 days until the event kicks off, activists say the best- and worst-case scenarios hinge upon two things: delivering $100 billion in climate finance for developing countries and securing meaningful upgrades to countries' national emissions reductions plans. Without that, the prospects look bleak.

Pope Francis is attending, but Greta Thunberg might boycott. Here's everything you need to know about COP26 - the most important global event this fall

<ul><li>The non-profit led <keyword id="11533780" type="UNKNOWN" weightage="20" keywordseo="crypto-climate-accord">Crypto Climate Accord</keyword> (CCA) seeks to eliminate carbon emissions from the <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword> industry by 2030.</li><li>Over 45 companies and individuals have joined the accord so far.</li><li>Countries and large businesses have cited crypto’s energy needs as a major concern in bringing <keyword id="2420795" type="PERSON" weightage="20" keywordseo="cryptocurrencies">cryptocurrencies</keyword> into the mainstream.</li></ul>Bitcoin propagators argue that cryptocurrencies’ carbon emissions are nothing compared to the value they provide. However, their impact on climate change — big or small — is being used as the rationale by different countries, economics, <a href="https://www.businessinsider.in/cryptocurrency/news/el-salvador-asks-world-bank-for-help-implementing-bitcoin-but-quickly-gets-rejected-over-minings-climate-impact/articleshow/83600569.cms">the World Bank</a> and others to dissuade people from the use of digital money. And, the Climate Change Accord (CCA) wants to head off the negative press at the pass. <div type="image" title="bitcoin emissions" msid="83946282" hostid="261" caption="&amp;lt;p&amp;gt;Bitcoin&amp;#8217;s annual greenhouse gas emissions compared to other sources&amp;lt;/p&amp;gt;"></div> The CCA, announced in April this year, aims to limit the pages of history that will talk about the harmful environmental impact of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a>. Led by the private sector players, the consortium wants to transition all blockchains to renewable energy by 2030 if not sooner. And, by 2040, it wants the crypto industry to reach ‘net zero’ emissions — or carbon neutral. This means that greenhouse gases still going into the atmosphere will be balanced out with technology that removes those gases as well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 451.276pt;"></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;">Cryptocurrency </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;">Annualised total carbon footprint </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;">Compared to annual carbon footprint of the countries </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;">Bitcoin </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;">62.94 million tons of carbon dioxide </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;">Serbia and Montenegro </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;">Ethereum </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;">25.32 million of carbon dioxide </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;">Bosnia and Herzegovina </td></tr></tbody></table>Source: <a href="https://digiconomist.net/ethereum-energy-consumption">Diginomist</a> If achieved, these moon-shot goals could solve a very real problem that may inspire other industries to put their foot to the pedal as well. <div type="ExtQuote" text="“The Accord, inspired by the Paris Climate Agreement, is a private sector-led initiative for the entire crypto community focused on decarbonizing the cryptocurrency industry in record time.”" auname="Definition of the Climate Change Accords according to its creators — the Rocky Mountain Institute, the Energy Web Foundation and the Alliance for Innovative Regulation"></div> <cmsannotation type="cmsannotation" annotationid="What is the Crypto Climate Accord?" comment="subhead" text="What is the Crypto Climate Accord?"><keyword id="11533781" type="UNKNOWN" weightage="20" keywordseo="what-is-the-crypto-climate-accord">What is the Crypto Climate Accord</keyword>?</cmsannotation> Inspired by the <a href="https://www.businessinsider.in/here-are-all-the-countries-that-signed-on-to-the-paris-climate-agreement/articleshow/58936031.cms">Paris Agreement of 2015</a>, the CCA aims to decarbonise the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">crypto</a> industry. The initiative is led by three non-profit companies — the Rocky Mountain Institute, the Energy Web Foundation, and the Alliance for Innovative Regulation. The first two are non-profits focused on sustainability and transition to low-carbon footprints, while the Alliance for Innovative Regulation is an international advocacy group that speaks for the implementation of fair financial systems. <cmsannotation type="cmsannotation" annotationid="Why do we need the CCA?" comment="subhead" text="Why do we need the CCA?">Why do we need the CCA?</cmsannotation> Climate concerns haven’t just been cited by countries, they have also been cited by crypto enthusiasts and billionaires who want to fund the industry. Tesla’s <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms">Elon Musk</a>, for instance, has flip flopped on his company’s plans to deal in crypto owing to climate change concerns. He recently joined hands with Twitter’s Jack Dorsey to sponsor a report which wanted to show how Bitcoin can be part of renewable energy projects. On the other hand, countries like China have cited environmental concerns as one of the chief reasons for their crackdown on the industry. A <a href="https://www.cnbc.com/2021/05/26/major-china-bitcoin-mining-hub-lays-out-harsher-crackdown-measures.html">project</a> by the Cambridge University reported that Bitcoin mining alone can consume about 112.57 terawatt-hours of energy per year, more than the total power requirement of some countries. Even countries like El Salvador, which became the first nation state to legalise Bitcoin earlier this month, has said it’s looking to find clean energy sources for Bitcoin mining within its borders — with <a href="https://www.businessinsider.in/cryptocurrency/news/el-salvadors-bitcoin-experiment-is-gaining-momentum-even-if-the-world-bank-doesnt-want-to-lend-its-support/slidelist/83634654.cms#slideid=83634851">volcanoes</a>. <cmsannotation type="cmsannotation" annotationid="What could go wrong?" comment="subhead" text="What could go wrong?">What could go wrong?</cmsannotation> While the CCA will definitely be a boon for the crypto industry, critics wonder whether mining for digital tokes would be the best use of renewable energy. At the end of the day, the same energy could be used to power homes, schools and hospitals. <div type="image" title="world energy demand 2050" msid="83946371" hostid="261" caption="&amp;lt;p&amp;gt;The US Energy Information Administration (EIA) projects an almost 50% in world energy usage by 2050, led by growth in Asia&amp;lt;/p&amp;gt;"></div> There’s also a risk. Right now, Bitcoin’s hash rate is dropping and it is expected that ‘mining difficulty’ will get easier resulting in lower energy consumption. However, if cryptocurrencies see a boom due the use of renewables and more people invest in mining, the underlying difficulty will increase again. An increase would mean more energy consumption. And, that would lead everyone back to square one — using fossil fuels to meet the burgeoning demand. <div type="image" title="world energy generation 2050" msid="83946429" hostid="261" caption="&amp;lt;p&amp;gt;Expected net electricity generation by 2050 barely matches the expected increase in energy demand&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="The crypto industry has no choice but to support the CCA" comment="subhead" text="The crypto industry has no choice but to support the CCA">The crypto industry has no choice but to support the CCA</cmsannotation> No one who is remotely engaged with the technology industry can afford to ignore climate change today. According to <a href="https://www.datacenterknowledge.com/energy/study-data-centers-responsible-1-percent-all-electricity-consumed-worldwide">research</a> published in scientific journal Science this month, data centers accounted for 1% of the world’s electricity consumption last year, and it more than quintupled between 2010 and 2018. Crypto mines are, in essence, single-minded data centers. “We recognise that crypto does use a lot of energy, so let’s make it 100% green,” Jesse Morris, chief commercial officer at Energy Web, <a href="https://www.aljazeera.com/economy/2021/4/27/crypto-climate-accord-bitcoin-greenwashing-or-game-changer">told</a> Al Jazeera. To that end, Energy Web has launched an open-source software solution called <a href="https://cryptoclimacc.medium.com/open-source-green-hashrate-software-solution-will-track-and-verify-green-bitcoin-mining-6b4e9cabe8b">Green Hashrate</a> that will track and verify green Bitcoin mining. But, non-profits aren’t the only ones who recognise the CCA’s benefit, and need. For instance, UK-based global crypto mining firm Argo Blockchain as well as crypto and blockchain company DMG Solutions <a href="https://www.businesswire.com/news/home/20210514005229/en/Argo-Blockchain-and-DMG-Blockchain-Solutions-Sign-Crypto-Climate-Accord">announced</a> their partnership with the CCA last month. Zumo, a company that makes B2B products for crypto firms has also signed up for the accords. “I’m proud to support the Crypto Climate Accord and to collaborate with other like-minded players that believe this technology can lead to a renewable energy revolution through collective action,” Meltem Demirors, CSO of digital asset investing firm CoinShares, <a href="https://www.nsenergybusiness.com/features/crypto-climate-accord/">told</a> NSR Energy earlier. According to the CCA’s website, over 45 companies and individuals from the crypto and related industries have joined the accord as supporters. It is also supported by the United Nations Framework Convention on Climate Change (UNFCCC). <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/the-worlds-largest-crypto-exchange-is-having-a-hard-time-convincing-regulators-with-multiple-bans-piling-up/articleshow/83941711.cms">The world's largest crypto exchange is having a hard time convincing regulators with multiple bans piling up</a> <a href="https://www.businessinsider.in/cryptocurrency/news/google-facebook-and-tesla-crypto-tokens-are-launching-on-crypto-exchange-ftx/articleshow/83885349.cms">Google, Facebook, and Tesla crypto tokens are launching on crypto exchange FTX</a> <a href="https://www.businessinsider.in/cryptocurrency/news/biggest-crypto-heist-of-all-time-free-money-and-tax-on-crypto-transactions-weekly-crypto-round-up/slidelist/83922055.cms">The biggest crypto heist of all time, free money and tax on crypto transactions — here’s what happened in the world of crypto this past week</a>

Here’s everything you need to know about the Crypto Climate Accord — the push to make cryptocurrencies 100% green

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP</div></div></div>Throughout his presidential campaign, Donald Trump repeatedly promised to pull the US out of a landmark international accord to cut carbon emissions."Trump has made it clear he will withdraw from the Paris Agreement," Myron Ebell, the former head of Trump's EPA transition team, <a href="http://www.reuters.com/article/us-usa-trump-epa-idUSKBN15E1MM" target="_blank">told reporters in London</a> on January 30. "He could do it by executive order tomorrow or he could do it as part of a larger package."Although the formal process for removing the US from the agreement would actually take years, it appears the Trump administration has already started the process of scaling back US involvement in the accord.Since Trump took office, the reports that detailed the progress made on President Obama's Climate Action Plan have disappeared from the State Department's website, where they were once publicly accessible. Here's what the page with the most recent report looked like on January 20th:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshot/Internet Archive</div></div></div>And here it is now:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshot/Department of Energy</div></div></div>The three most recent reports, which were published in 2010, 2014 and 2016, are all gone from the website. Under the <a href="http://newsroom.unfccc.int/" target="_blank">United Nations Framework Convention on Climate Change</a> (UNFCCC), the US is committed to publish a report every four years that projects future greenhouse gas emissions based on existing policies. The 2010 report fulfills that requirement, while the ones published in 2014 and 2016 go a step further, describing the steps the US was taking to cut greenhouse gas pollution, prepare for the impacts of climate change, and engage with other nations about the climate problem.The disappearances were noticed by members of the <a href="https://envirodatagov.org/" target="_blank">Environmental Data and Governance Initiative</a> (EDGI), a group of scientists, archivists and other people working to monitor changes to government websites and download reports and data that they believe are at risk of being taken down by the Trump administration. During the Obama administration, the US pushed all countries to publish biennial reports analyzing how planned actions would reduce greenhouse gas emissions in the future (in addition to the reports with future projections based on current policies). The Obama administration's biennial reports assessed progress on his Climate Action Plan, charted the trends in US greenhouse gas emission, and outlined the progress made toward the reduction targets.PDFs of the <a href="https://unfccc.int/files/national_reports/annex_i_natcom/submitted_natcom/application/pdf/2014_u.s._climate_action_report[1]rev.pdf" target="_blank">2014</a> and <a href="https://unfccc.int/files/national_reports/biennial_reports_and_iar/submitted_biennial_reports/application/pdf/2016_second_biennial_report_of_the_united_states_.pdf">2016</a> reports are still viewable via the UNFCCC.The page about Obama's <a href="https://www.energy.gov/ia/initiatives/climate-action-plan" target="_blank">Climate Action Plan</a> itself, which lives on the Department of Energy's website, also disappeared temporarily after Trump's inauguration, but has since been put back up.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshots/EDGIA side-by-side comparison shows the Climate Action Plan page on Jan. 17 (left) and Jan. 26 (right)</div></div></div>If you want to see the<a href="https://obamawhitehouse.archives.gov/sites/default/files/image/president27sclimateactionplan.pdf" target="_blank"> full PDF of the plan</a>, however, you have to view it in the archive of Obama's websites.The framework of the <a href="http://www.businessinsider.com/paris-agreement-explained-2016-11/">Paris agreement</a>, which went into effect on November 4, means it would take the US three or four years to fully withdraw, even if Trump issues an executive order to pull out of it. But there are several things the president can do now to decrease participation.First, he could withdraw the country from the UNFCCC, which would only take a year, and would consequently remove the US from the Paris Agreement as well. Second, because the accord doesn't impose penalties on countries that do not meet the goals they set when they ratified the deal, Trump could just ignore the targets for the US (it's unlikely we would have reduced emissions enough to meet them anyway).It's not surprising that the Trump administration has taken the reports down, given its opposition to the <a href="http://www.businessinsider.com/american-sovereignty-restoration-act-us-withdraw-un-2017-1">US role in the UN</a> and <a href="http://www.businessinsider.com/epa-delays-30-environmental-regulations-created-under-obama-2017-1">Obama's environmental regulations</a>. But the removal is another clear indicator that the US is rapidly ceding its global leadership on climate action. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/neil-degrasse-tyson-climate-change-deniers-2017-1">Neil deGrasse Tyson explains the real problem with climate skeptics</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZiY2MyMTE6JWqcPELpqk9VJTNr6gtpdC" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Data on climate change progress is disappearing from the US State Department website

New Delhi, Dec 3 () The government raised Rs 2,79,622 crore from the disinvesment of public sector undertakings (PSUs) during 2014-19 compared to Rs 1,07,833 crore during the 10-year UPA rule from 2004-14, Union minister Anurag Singh Thakur said on Tuesday.
 Speaking during the Question Hour in the Rajya Sabha, the Minister of State for Finance said, "In five years, we raised double the amount. This was done in an average 21 transactions each year, while it was four between 2004-2014."
 During 2014-19, a total amount of Rs 2,79,622 crore was realised from the disinvestment transaction using various modes, he said.
 "If you compared it with 2004-14, which was 10 years period, through 40 transactions, only Rs 1,07,833 crore could be raised," Thakur said in the Upper House.
 For the current year, the target is to raise Rs 1.05 lakh crore. "We are trying our best to achieve this."
 The Minister said that the government follows a policy of disinvestment through minority stake sale and strategic disinvestment. So far, the government has given 'in-principal' approval for strategic disinvestment of 33 central public sector undertakings (CPSEs).
 Think-tank Niti Aayog has been mandated to identify such PSUs based on the criteria of national security, sovereign functions at arm's length and market imperfections and public purpose.
 In reply to a separate query, Thakur said the Insurance Regulatory and Development Authority of India (IRDAI) has cancelled recruitment exercise initiated in February 2018 due to administrative reason and therefore, there is no need for any enquiry.
 The minister said the IRDAI had issued an advertisement for recruitment February 16, 2018.
 "During the recruitment process, it was found that the minimum experience criteria mentioned in the notification did not explicitly specify the sector or area of work in which work experience was required. This led to some candidates without useful experience being considered for further stages of recruitment process," he said.
 To maintain transparency and avoid possible future litigation, Thakur said the IRDAI cancelled the recruitment on May 20, 2019.
 "The expenditure incurred in the process, including advertisement, conducting of written examination and evaluation of answer scripts, was about Rs 22.47 lakh," he added.
 IRDAI had received some complaints related to experience criteria, lowering of maximum age, re-allocation of unfilled vacancies, pattern of questions in written examination, rejection of application due to late receipt, reservation of posts and rosters.
 "IRDAI has stated that the recruitment process was cancelled due to the reasons as stated above and as such no inquiry was necessitated," the minister said.
 On a question related to impact of climate change on lending and risk in financial sector, Thakur said the RBI and the IRDAI are aware of the issues.
 The RBI has informed that it is conscious of the role of banks in providing finance for sustainable development and has urged financial institutions to integrate it in their practices, the minister said.
 "RBI has apprised that banks have been sensitised to various international initiatives, including the Equator Principles, which are a set of voluntary environmental and social guidelines for ethical project financing, and that banks were asked to adopt lending strategies to keep abreast of developments in the field of sustainable development," he added.
 The RBI has further informed that the Indian Banks' Association has formulated the National Voluntary Guidelines for Responsible Financing, which are sector-specific and combine and adapt best practices on green banking, including international standards as well as national experiences.
 In addition, RBI has included lending to social infrastructure and small renewal energy projects within priority sector lending targets, giving a fillip to green financing.
 Moreover, he said the National Bank for Agriculture and Rural Development (NABARD), has informed that 38 climate change mitigating projects worth Rs 1,819 crore have been sanctioned under various funding mechanisms.
 These projects are related to water resource management, rainwater harvesting, spring shed development, improving water use efficiency through micro irrigation, climate-smart agriculture, crop residue management and integrated farming system, he added.
 NABARD has been designated as the national implementing entity by the government for the National Adaptation Fund for climate change and by the international funding entities under the United Nations Framework Convention on Climate Change.
 India is signatory to the United Nations Framework Convention on Climate Change (UNFCCC), and is committed to its principles of protecting the climate system against human-induced change.
 To address climate change concerns, Thakur said the government is implementing the national action plan on climate change, comprising of eight National Missions. LUX/MJH LUX MR
MR

Govt raises Rs 2.79 lakh cr through divestment in last 5 years

<div class="KonaFilter image-container display-table"><div><div class="image on-image">SevereStudios.com via APDamage from Hurricane Michael at Mexico Beach, Florida in October 2018.</div></div></div><ul class="summary-list"><li>On Tuesday, 28 commissioners and 17 countries around the world banded together to form the Global Commission on Adaptation.</li><li>Their task for the next year will be to figure out the best ways to both fight and cope with the dramatic, disastrous effects of <a href="https://www.businessinsider.com/ipcc-climate-change-report-why-2-degree-warming-is-dangerous-2018-10">life on a hotter planet</a>.</li><li>The program is led by Bill Gates, Ban Ki-moon, and World Bank CEO Kristalina Georgieva.</li><li>The commission also includes 25 other leaders from around the globe, including the mayors of Miami and Paris, as well as China's environment minister.</li><li>The 17 countries on board include big players in the world's energy economy, like Canada, Mexico, China, India, Germany, and the UK. (The US is not on the list.)</li><li>Scroll down for a full list of who's involved.</li></ul>The bad <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> about our planet <a href="https://www.businessinsider.com/ipcc-climate-change-report-why-2-degree-warming-is-dangerous-2018-10">released last week</a> from the Intergovernmental Panel on Climate Change (IPCC) suggests that time is running very short to get serious about the threat of disastrous floods, storms, fires, droughts, and extreme poverty that could soon hit as a result of climate change.The news is so dire, it's prompted a new last-ditch effort to help the world better deal with these coming disasters.Dubbed the Global Commission on Adaptation, it will be led by philanthropist Bill Gates, former UN secretary general Ban Ki-moon, and World Bank CEO Kristalina Georgieva."We are at a moment of high risk and great promise," Gates said in a release, before the commission was announced Tuesday in The Hague."We need policies to help vulnerable populations adapt, and we need to ensure that governments and other stakeholders are supporting innovation and helping deliver those breakthroughs to the people and places that need them most."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Jemal Countess/Getty ImagesBill Gates and Melinda Gates with United Nations Secretary General Ban Ki-moon at the United Nations on September 25, 2015 in New York City.</div></div></div>To that end, his new commission is beginning a two year plan: first, they will spend approximately one year researching and developing the best ways to deal with life in a warmer world.Next September, they'll present their best ideas from that brainstorm at the 2019 United Nations Secretary General's Climate Summit.Then, begins the second "year of action," where those ideas are put into practice around the world. "If everyone does their part, we can reduce carbon emissions, increase access to affordable energy, and help farmers everywhere grow more productive crops," Gates said.In some of the hottest zones around the equator, that might mean adopting new farming techniques for crops, like growing corn or coffee designed to be more drought-resistant.Georgieva suggested some places might want to switch from consuming chickens to breeding and eating more ducks, because ducks can swim through a flood.Other coastal areas might plant more mangrove trees, to help <a href="https://www.businessinsider.com/r-mangroves-coral-reefs-could-cut-flood-insurance-premiums-lloyds-2017-6">reduce the impact of devastating floods, while saving cash on seawalls</a>.In cities, the commission may suggest ways to better regulate emissions through stricter building code rules."We are the last generation that can change the course of climate change," Georgieva said. "And we are the first generation that has to live with its consequences." <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.flickr.com/photos/40238275@N02/3979119182/in/photolist-74C2v9-hyEgxU-gdDifG-fHkuTT-fHkzdg-fHCkzy-fHkDi6-fHCaDY-fHC6VQ-eMNbmu-7y7Cjg-fHCec1-gdDwrm-gdDbJo-gdE2pD-dVQzmY">Steve Shattuck/Flickr</a>Natural adaptations like mangroves are around 30 times cheaper than manmade seawalls, according to a recent report from Lloyd's of London.</div></div></div>That means that we must both adapt to our rapidly warming world, and try to reduce emissions that will heat the planet up further, all at the same time.The commission assumes that it's probably too late to stop or reverse dangerous, damaging effects of climate change altogether, but their plan aims to both mitigate those effects, while also reducing pollution and saving money.Georgieva estimates that every one dollar spent on this kind of climate resilience, could save $4 to $7 in damages later. Humans have already heated things up more than one degree Celsius since preindustrial times, and recently <a href="https://www.businessinsider.com/hothouse-earth-climate-change-tipping-point-2018-8">scientists warned that we could be on track to hit a dangerous tipping point</a>, triggering an unprecedented temperature spike around the world.Already, <a href="https://www.businessinsider.com/hurricane-florence-how-climate-change-affects-rainfall-2018-9">we're getting a glimpse of</a> life on a warmer planet: <a href="https://www.businessinsider.com/hurricanes-and-rain-getting-stronger-2018-6">wetter rainstorms</a>, more intense heat waves, and rising seas.Currently, the commission argues there's a <a href="https://www.businessinsider.com/french-president-emmanuel-macron-global-finance-climate-business-2018-9">lack of decent incentives</a> to invest in new ideas about how to deal with these problems, and the ideas that are out there aren't getting shared quickly and efficiently enough.The commission is worried that if swift action isn't taken now, we could have problems finding enough food, water and energy to stay alive in the coming decades, especially in the developing world."Decisions are still being made with short-term risk, not long-term risk in mind," Moon said on the call. <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/pennymaycock/14333442687/">Flickr / babar141</a>Ducks may be a smarter food source than chickens in the near future, the commission suggests, because they can swim through a flood, if needed.</div></div></div>Ironically, those who will be at greatest risk of losing their homes, businesses, and lives to climate change are the ones who've contributed the least to warming the atmosphere by burning fossil fuels like coal and gas for energy."Our estimate is that most likely we would see some hundred million people falling back in <a href="https://www.businessinsider.com/gates-foundation-goalkeepers-2018-report-ceo-sue-desmond-hellman-2018-9">extreme poverty</a> by 2030 as a result of climate change," Georgieva said during a press call before the commission was announced. Moon said the commission will aim to help some of those "poorest and most vulnerable" living in some of the hottest zones of the world adapt to climate change with new kinds of climate-related insurance.Here's the full list of the countries and commissioners that have signed on to participate in the initiative so far.<h2>Countries:</h2><ul><li>Argentina</li><li>Bangladesh</li><li>Canada</li><li>China</li><li>Costa Rica</li><li>Denmark</li><li>Ethiopia</li><li>Germany</li><li>Grenada</li><li>India</li><li>Indonesia</li><li>Marshall Islands</li><li>Mexico</li><li>Netherlands</li><li>Senegal</li><li>South Africa</li><li>United Kingdom</li></ul><h2>Commissioners:</h2><ul><li>Ban Ki-moon, former Secretary-General of the United Nations </li><li>Bill Gates, co-chair of the Bill &amp; Melinda Gates Foundation </li><li>Kristalina Georgieva, CEO, World Bank </li><li>Hilda Heine, President, Marshall Islands </li><li>Keith Mitchell, Prime Minister, Grenada </li><li>Akinwumi Adesina, President, African Development Bank </li><li>Elhadj As Sy, Secretary General, IFRC (International Federation of Red Cross and Red Crescent Societies) </li><li>Michelle Bachelet, United Nations High Commissioner for Human Rights </li><li>Patricia Espinosa, Executive Secretary, UNFCCC (United Nations Framework Convention on Climate Change) </li><li>Christiana Figueres, Former Executive Secretary, UNFCCC </li><li>Li Ganjie, Minister of Ecology and Environment, China </li><li>Anne Hidalgo, Mayor, Paris </li><li>Emma Howard Boyd, Chair of the Environment Agency, UK </li><li>Naoko Ishii, CEO and Chairperson, Global Environment Facility </li><li>Peter Damgaard Jensen, CEO, PKA Ltd. </li><li>Agnes Kalibata, President, AGRA </li><li>Loren Legarda, Chair, Senate Finance Committee, Philippines </li><li>Strive Masiyiwa, Founder and Chairman, Econet Wireless </li><li>José Antonio Meade, Former Finance Minister, Mexico </li><li>Gerd Müller, Ministry of Economic Cooperation and Development, Germany </li><li>Muhammad Musa, Executive Director, BRAC </li><li>Cora van Nieuwenhuizen, Minister of Infrastructure and Water Management, Netherlands </li><li>Sheela Patel, Chair, Slum/Shack Dwellers International </li><li>Feike Sijbesma, CEO, Royal DSM </li><li>Francis Suarez, Mayor, Miami </li><li>Shemara Wikramanayake, CEO, Macquarie Group Ltd </li><li>Erik Solheim, Executive Director, UN Environment </li><li>Andrew Steer, President and CEO, World Resources Institute </li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/is-activated-charcoal-safe-for-eat-drink-teeth-whitening-2018-9">What activated charcoal actually does to your body</a></h3> <div> </div> </div>

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