Climate change is no longer a theoretical concern; rather, it is a harsh reality that businesses everywhere are having to deal with.

Climate change no longer a distant threat, it's a stark reality

In a world grappling with the climate crisis, the call to integrate climate education all around the corporate world and also into school curriculum is reaching a fever pitch. It's not just about learning, protecting our children's well-being and future generations. Seeing the climate crisis unfold before their eyes can have a major impact on their mental and physical health.

No action, not an option: Need for addressing issues around climate literacy

In recent years, it was discovered that billions of snow crabs disappeared from the ocean around Alaska, and now the scientists have claimed that they know the reason behind it. As per the scientists, the snow crabs have starved to death because of the warmer ocean temperatures. 
 
The findings were released just days after the cancellation of the crab harvest season was announced by the Alaska Department of Fish and Game for the second time in a row, citing the increasing number of missing crabs from the frigid waters of the Bering Sea. 
 
The study, which was published by scientists at the National Oceanic and Atmospheric Administration (NOAA) on Thursday (Oct 19), found a significant connection between the missing snow crabs, which started disappearing in 2021 as per the surveys, and recent marine heat waves in the eastern Bering Sea. 
 
“When I received the 2021 data from the survey for the first time, my mind was just blown,” stated Cody Szuwalski, lead author of the study and fishery biologist at NOAA. “Everybody was just kind of hoping and praying that that was an error in the survey and that next year you would see more crabs,” she added.

ALSO READ |&nbsp;<a href="https://www.wionews.com/science/weakening-of-gulf-stream-99-per-cent-ramifications-to-be-global-study-648008">Weakening of Gulf Stream 99 per cent certain, ramifications to be global: Study</a>

“And then in 2022, it was more of a resignation that this is going to be a long road,” said Szuwalski, while speaking to CNN.

<h2>Is overfishing a reason behind the disappearance of snow crabs?</h2>

In 2022, for the first time, the US snow crab fishery was closed in Alaska. As per the catchers, overfishing has led to the population decline of snow crabs, however, “overfished” is a technical definition that fails to explain the collapse, as per the experts. 
 
“The big take home for me from the paper, and just the whole experience in general, is that historically, fishery scientists had been very worried about overfishing — this has been our white whale, and in a lot of places we really solved that with management,” said Szuwalski. “But climate change is really throwing a wrench into our plans, our models and our management systems,” she added.

Watch |&nbsp;G20 host India proposes 'global biofuel alliance' | WION Climate Tracker

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For the study, the scientists looked into what could have led to the disappearance of the snow crabs in 2020 and ended it with two categories: the snow crabs have either moved or died. 
 
Szuwalski said they searched north of the Bering Sea, in deeper levels of the oceans and west toward Russian waters, and “ultimately concluded that it was unlikely that the crabs moved, and that the mortality event is probably a big driver.” 
 
In the research, it was found that population density and warmer temperatures were significantly related to higher mortality rates among grown crabs.

(With inputs from agencies)

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In recent years, it was discovered that billions of snow crabs disappeared from the ocean around Alaska, and now the scientists have claimed that they know the reason behind it.

In recent years, it was discovered that billions of snow crabs disappeared from the ocean around Alaska, and now the scientists have claimed that they know the reason behind it. As per the scientists, the snow crabs have starved to death because of the warmer ocean temperatures. The findings were released just days after the cancellation of the crab harvest season was announced by the Alaska Department of Fish and Game for the second time in a row, citing the increasing number of missing crabs from the frigid waters of the Bering Sea. The study, which was published by scientists at the National Oceanic and Atmospheric Administration (NOAA) on Thursday (Oct 19), found a significant connection between the missing snow crabs, which started disappearing in 2021 as per the surveys, and recent marine heat waves in the eastern Bering Sea. “When I received the 2021 data from the survey for the first time, my mind was just blown,” stated Cody Szuwalski, lead author of the study and fishery biologist at NOAA. “Everybody was just kind of hoping and praying that that was an error in the survey and that next year you would see more crabs,” she added. ALSO READ | Weakening of Gulf Stream 99 per cent certain, ramifications to be global: Study “And then in 2022, it was more of a resignation that this is going to be a long road,” said Szuwalski, while speaking to CNN. Is overfishing a reason behind the disappearance of snow crabs? In 2022, for the first time, the US snow crab fishery was closed in Alaska. As per the catchers, overfishing has led to the population decline of snow crabs, however, “overfished” is a technical definition that fails to explain the collapse, as per the experts. “The big take home for me from the paper, and just the whole experience in general, is that historically, fishery scientists had been very worried about overfishing — this has been our white whale, and in a lot of places we really solved that with management,” said Szuwalski. “But climate change is really throwing a wrench into our plans, our models and our management systems,” she added. Watch | G20 host India proposes 'global biofuel alliance' | WION Climate Tracker For the study, the scientists looked into what could have led to the disappearance of the snow crabs in 2020 and ended it with two categories: the snow crabs have either moved or died. Szuwalski said they searched north of the Bering Sea, in deeper levels of the oceans and west toward Russian waters, and “ultimately concluded that it was unlikely that the crabs moved, and that the mortality event is probably a big driver.” In the research, it was found that population density and warmer temperatures were significantly related to higher mortality rates among grown crabs. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Here's why billions of crabs disappeared from ocean around Alaska

A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world.&nbsp;

The ocean current begins near Florida and a stream of warm water flows along the U.S. East Coast and Canada before it crosses the Atlantic to Europe. The heat that the stream is transporting is important for regulating sea levels and maintaining temperate conditions.&nbsp;

However, this stream has slowed down, wrote the researchers in a study which was published in the journal Geophysical Research Letters on September 25.

"This is the strongest, most definitive evidence we have of the weakening of this climatically-relevant ocean current," stated lead author Christopher Piecuch, a physical oceanographer at the Woods Hole Oceanographic Institution in Massachusetts, in a statement.

ALSO READ |&nbsp;<a href="https://www.wionews.com/trending/study-reveals-latest-suvs-emit-more-climate-damaging-gases-than-older-ones-647487">Study reveals latest SUV models emit more climate damaging gases than older ones</a>

The Gulf Stream is only a small component of the thermohaline circulation which is a global conveyor belt of ocean currents that has been moving carbon, heat, nutrients and oxygen around the globe, while also contributing to controlling hurricane activity and sea levels.&nbsp;

<h2>Gulf Stream maintaining&nbsp;temperatures across US East Coast</h2>

The Gulf Stream, which begins in the Caribbean before it flows out into the Atlantic via the Florida Straits, brings warmer southerly waters (which are saltier and denser) northward for cooling and sinking in the North Atlantic. After it drops deep inside the ocean and releases its heat into the atmosphere, the water drifts southward slowly, where it again heats up and the cycle repeats.

This process is important for maintaining sea levels and temperatures across the US East Coast - whose waters were kept to 5 feet (1.5 metres) lower than the water further offshore by the current's sweeping motion.

WATCH |&nbsp;Nations voice their concerns about climate change | WION Climate Tracker

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As the climate of the Earth warms, a huge influx of cold, fresh water from melting ice sheets spills into oceans, possibly leading to the Gulf Stream to slow or even move towards outright collapse, as per the scientists. However, it is hard to prove because of the complexity and scale of the system.&nbsp;

In search for definitive evidence that the stream has been slowing, the scientists looked into data which spanned 40 years and was collected from three separate sources — observations made on site, undersea cables and satellite altimetry &nbsp;— to look into the motions of the current around the Florida Straits.

(With inputs from agencies)

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A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world.

A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world. The ocean current begins near Florida and a stream of warm water flows along the U.S. East Coast and Canada before it crosses the Atlantic to Europe. The heat that the stream is transporting is important for regulating sea levels and maintaining temperate conditions. However, this stream has slowed down, wrote the researchers in a study which was published in the journal Geophysical Research Letters on September 25. "This is the strongest, most definitive evidence we have of the weakening of this climatically-relevant ocean current," stated lead author Christopher Piecuch, a physical oceanographer at the Woods Hole Oceanographic Institution in Massachusetts, in a statement. ALSO READ | Study reveals latest SUV models emit more climate damaging gases than older ones The Gulf Stream is only a small component of the thermohaline circulation which is a global conveyor belt of ocean currents that has been moving carbon, heat, nutrients and oxygen around the globe, while also contributing to controlling hurricane activity and sea levels. Gulf Stream maintaining temperatures across US East Coast The Gulf Stream, which begins in the Caribbean before it flows out into the Atlantic via the Florida Straits, brings warmer southerly waters (which are saltier and denser) northward for cooling and sinking in the North Atlantic. After it drops deep inside the ocean and releases its heat into the atmosphere, the water drifts southward slowly, where it again heats up and the cycle repeats. This process is important for maintaining sea levels and temperatures across the US East Coast - whose waters were kept to 5 feet (1.5 metres) lower than the water further offshore by the current's sweeping motion. WATCH | Nations voice their concerns about climate change | WION Climate Tracker As the climate of the Earth warms, a huge influx of cold, fresh water from melting ice sheets spills into oceans, possibly leading to the Gulf Stream to slow or even move towards outright collapse, as per the scientists. However, it is hard to prove because of the complexity and scale of the system. In search for definitive evidence that the stream has been slowing, the scientists looked into data which spanned 40 years and was collected from three separate sources — observations made on site, undersea cables and satellite altimetry — to look into the motions of the current around the Florida Straits. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Weakening of Gulf Stream 99 per cent certain, ramifications to be global: Study

A sudden wave of scorching heat in central South America towards the end of the winter season was made 100 times more likely by climate change, according to a new study published on Tuesday (Oct 10).

"While many people have pointed to El Nino to explain the South America heat wave, this analysis has shown that climate change is the primary driver of the heat," said Lincoln Muniz Alves, a researcher at the Brazil National Institute for Space Research who participated in the study conducted by the World Weather Attribution (WWA) group.

The temperatures in the southern hemisphere shot up to above 25 degrees Celsius (77 Fahrenheit)&nbsp;at the peak of the winter season in August and September, breaking records.

The research conducted by WWA found that while the naturally occurring El Nino warming phenomenon was partly to be blamed, climate change was mainly behind driving temperatures up between 1.4 and 4.3 degrees.

A team of 12 researchers examined 10 hottest winter days over a region encompassing Paraguay, central Brazil and regions of Bolivia and Argentina in order to study the connection between extreme weather and climate change.

Also read:&nbsp;<a href="https://www.wionews.com/science/humanitys-next-big-catastrophe-could-lie-in-the-sun-predict-scientists-644862">Humanity's next big 'catastrophe' could lie in the Sun, predict scientists</a>

"The scientists found that these extreme heat episodes in South America outside the summer months would have been extremely unlikely without human-caused climate change," read a statement on the study.

"Heat episodes like these will become even more frequent and extreme if greenhouse gas emissions are not rapidly reduced to net zero."

In Sao Paulo, which is the biggest city in Latin America, the heatwave claimed the lives of four people.

"Heat kills, particularly in spring, before people are acclimatized to it," said Julie Arrighi, a director at the Red Cross Red Crescent Climate Centre.

"Temperatures above 40 degrees Celsius in early spring are incredibly extreme and while we are aware of just four heat-related fatalities, it's likely the true number is much higher."

(With inputs from agencies)

&nbsp;

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A sudden wave of scorching heat in central South America towards the end of the winter season was made 100 times more likely by climate change, according to a new study published on Tuesday (Oct 10).

A sudden wave of scorching heat in central South America towards the end of the winter season was made 100 times more likely by climate change, according to a new study published on Tuesday (Oct 10). "While many people have pointed to El Nino to explain the South America heat wave, this analysis has shown that climate change is the primary driver of the heat," said Lincoln Muniz Alves, a researcher at the Brazil National Institute for Space Research who participated in the study conducted by the World Weather Attribution (WWA) group. The temperatures in the southern hemisphere shot up to above 25 degrees Celsius (77 Fahrenheit) at the peak of the winter season in August and September, breaking records. The research conducted by WWA found that while the naturally occurring El Nino warming phenomenon was partly to be blamed, climate change was mainly behind driving temperatures up between 1.4 and 4.3 degrees. A team of 12 researchers examined 10 hottest winter days over a region encompassing Paraguay, central Brazil and regions of Bolivia and Argentina in order to study the connection between extreme weather and climate change. Also read: Humanity's next big 'catastrophe' could lie in the Sun, predict scientists "The scientists found that these extreme heat episodes in South America outside the summer months would have been extremely unlikely without human-caused climate change," read a statement on the study. "Heat episodes like these will become even more frequent and extreme if greenhouse gas emissions are not rapidly reduced to net zero." In Sao Paulo, which is the biggest city in Latin America, the heatwave claimed the lives of four people. "Heat kills, particularly in spring, before people are acclimatized to it," said Julie Arrighi, a director at the Red Cross Red Crescent Climate Centre. "Temperatures above 40 degrees Celsius in early spring are incredibly extreme and while we are aware of just four heat-related fatalities, it's likely the true number is much higher." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Climate crisis behind extreme heat during winters in South America, says study

From record-breaking temperatures to extreme downpours to deadly tremors, 2023 has been the year of natural disasters. Why have these disasters become so frequent? Are we heading towards a mega natural calamity? Here's what Priyanka Sharma has to say on Gravitas Plus.

Gravitas Plus: Is a mega natural calamity waiting to happen?

The world witnessed its hottest month by an “extraordinary” margin in September this year, the European Union climate monitor said on Thursday (Oct 5).

Copernicus Climate Change Service said that September’s average temperature was 0.93 degree Celsius, above the 1991-2020 average and 0.5 degree Celsius above the previous 2020 record.

“It’s just mind-blowing really. Never seen anything like that in any month in our records,” said Copernicus Director Carlo Buontempo.

The report further said that the figure was “the most anomalous warm month” in its data going back to 1940.

There is a reason why it is considered an anomaly.

While July and August, too, recorded higher temperatures because they are warmer months on the calendar, September’s temperature was unique considering that the peak of summer had already subsided.

<h2>High September temperature an anomaly&nbsp;</h2>

Temperature anomalies are key pieces of data in a warming world.

The European Union monitor calculated September’s average temperature to be 16.38 degrees Celsius, which was higher than the old record of 0.5 degree Celsius set in September 2020.

This margin is considered huge in climate records.

“The unprecedented temperatures for the time of year observed in September — following a record summer — have broken records by an extraordinary amount,” Samantha Burgess, deputy director of Copernicus, said in a statement.

Also read |&nbsp;<a href="https://www.wionews.com/trending/zombie-apocalypse-didnt-happen-as-us-emergency-alert-goes-off-2-mins-early-check-out-some-hilarious-memes-642736">US emergency alert goes off 2 mins early, and there were no signs of zombies. Check out hilarious memes</a>

She said that the “extreme month” has likely pushed 2023 into the “dubious honour of first place” as the hottest year ever, with temperatures about 1.4ºC above pre-industrial average temperatures.

<h2>2023 on track to become another record-breaking year</h2>

The study further noted that 2023 is on track to become the hottest year on record, with the global mean temperature to be 0.52 degrees Celsius higher than average.

Also read |&nbsp;<a href="https://www.wionews.com/world/ai-of-the-tiger-tiny-camera-protects-predator-and-people-642751">AI of the tiger: Tiny camera 'protects' predator and people</a>

The global temperature for January-September is also 1.4ºC higher than the preindustrial average (from the years 1850 to 1900), the institute added.

The previous record belonged to 2016 and 2020 when temperatures were an average of 1.25 degrees C higher.

The scientists further warned that the El Niño weather phenomenon, which involves the warming of the Pacific Ocean, is also expected to drive global temperatures higher over the remainder of this year.

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The world witnessed its hottest month by an “extraordinary” margin in September this year, the European Union climate monitor said on Thursday (Oct 5). Copernicus Climate Change Service said that September’s average temperature was 0.

The world witnessed its hottest month by an “extraordinary” margin in September this year, the European Union climate monitor said on Thursday (Oct 5). Copernicus Climate Change Service said that September’s average temperature was 0.93 degree Celsius, above the 1991-2020 average and 0.5 degree Celsius above the previous 2020 record. “It’s just mind-blowing really. Never seen anything like that in any month in our records,” said Copernicus Director Carlo Buontempo. The report further said that the figure was “the most anomalous warm month” in its data going back to 1940. There is a reason why it is considered an anomaly. While July and August, too, recorded higher temperatures because they are warmer months on the calendar, September’s temperature was unique considering that the peak of summer had already subsided. High September temperature an anomaly Temperature anomalies are key pieces of data in a warming world. The European Union monitor calculated September’s average temperature to be 16.38 degrees Celsius, which was higher than the old record of 0.5 degree Celsius set in September 2020. This margin is considered huge in climate records. “The unprecedented temperatures for the time of year observed in September — following a record summer — have broken records by an extraordinary amount,” Samantha Burgess, deputy director of Copernicus, said in a statement. Also read | US emergency alert goes off 2 mins early, and there were no signs of zombies. Check out hilarious memes She said that the “extreme month” has likely pushed 2023 into the “dubious honour of first place” as the hottest year ever, with temperatures about 1.4ºC above pre-industrial average temperatures. 2023 on track to become another record-breaking year The study further noted that 2023 is on track to become the hottest year on record, with the global mean temperature to be 0.52 degrees Celsius higher than average. Also read | AI of the tiger: Tiny camera 'protects' predator and people The global temperature for January-September is also 1.4ºC higher than the preindustrial average (from the years 1850 to 1900), the institute added. The previous record belonged to 2016 and 2020 when temperatures were an average of 1.25 degrees C higher. The scientists further warned that the El Niño weather phenomenon, which involves the warming of the Pacific Ocean, is also expected to drive global temperatures higher over the remainder of this year. WATCH WION LIVE HERE

September hottest month on record by ‘extraordinary’ margin, says EU climate monitor

Taiwan is bracing for typhoon Koinu, which has brought heavy rains and winds. Work and schools have been suspended in urban areas of the territory's southern region, and some 70 domestic flights have been cancelled.

Typhoon Koinu expected to make landfall in Taitung city

From east to west, Canada experienced an unprecedented wildfire season that has left scientists struggling to find the right words to describe its magnitude. The scale, duration, and long-term consequences of these fires have been truly exceptional. The records have been shattered, with over 44 million acres burned and over 200,000 people evacuated.

Wildfires affect almost all Canadians this year

The ADIPEC summit is an annual meeting of ministers and corporate leaders that has traditionally focused on oil investment, production, and markets. This time, however, the focus of the summit has shifted to climate concerns and decarbonisation.

Climate takes center stage at ADIPEC summit

Southeast Australia is sweltering in a heat wave. Sydney has endured its hottest-ever start to October. The scorching heat has raised the risk of bushfires in the week ahead and prompted authorities to issue fire bans.

Scorching heat raises risk of bushfires in Australia

A new global framework has been adopted to reduce environmental risks from chemicals and waste. At a UN conference, countries set concrete targets to prevent exposure to hazardous chemicals and phase out the most harmful ones. The new framework was agreed upon at the fifth international conference on chemicals management in Bonn, Germany.

Global framework for chemicals and waste

Researchers in Japan have made a mind-blowing discovery. A study published in environmental chemistry letters has revealed that microplastics are present in clouds, and that is expected to have a significant impact on climate.

Study shed light on concerning reality of microplastics

Swiss glaciers are melting at an alarming rate this year. The monitoring body Glamos said that their overall volume has shrunk by 10 per cent in the last two years. The combination of a warm early summer and a recent heatwave has accelerated the melting process beyond expectations.

Swiss glaciers are melting at an alarming rate this yea

Authorities in England have arrested a 16-year-old boy after the famous Sycamore Gap, a historical sycamore tree featured in 1991's Robin Hood: Prince of Thieves was cut down on Thursday.

Famous Sycamore Gap tree cut down, teen arrested in England

In a first, 6 young adults have taken 32 European governments to court over their alleged failure to act on climate change. The petitioners aged between 11- and 24-years hail from Portugal. The group filed the case in September 2020, after Portugal was ravaged by wildfires and heatwaves in 2017.

Preliminary hearing begins on climate case filed in 2020

India is presently taking steps towards environmental sustainability by introducing carbon emission reduction targets for four pivotal industries,&nbsp;government sources told Reuters on Tuesday.&nbsp;&nbsp;&nbsp;&nbsp;

Reuters cited two anonymous government sources, who revealed that petrochemicals, iron and steel, cement, and pulp and paper industries will have carbon emission intensity benchmarks and reduction goals spanning three years. These targets align with India's commitment to the United Nations for greenhouse gas reduction, forming a crucial component of its climate change strategy.&nbsp;

Government insiders have disclosed to Reuters that these four sectors will help India enter the carbon trading market in April 2025. This initiative empowers companies to buy and sell carbon credits, helping them meet their emission reduction targets.&nbsp;

Reuters quoted the senior government official as saying, "The mandates will be applicable from 2024-25, and the (carbon) trade will start in 2025-26."&nbsp;

India's climate commitments are robust, aiming to reduce greenhouse emissions relative to gross domestic product (GDP) by 45 per cent compared to 2005 levels by 2030. Furthermore, the nation has set an ambitious goal of achieving net-zero emissions by 2070. These emission reduction mandates represent a significant step toward realising these climate ambitions.&nbsp;

Companies exceeding their emission reduction targets will earn carbon credits, which can be traded to companies falling short of their emission reduction objectives. This market-driven approach encourages environmental responsibility and sustainability.&nbsp;

The framework for trading carbon credits is being established following a legislation passed by the Indian Parliament in December of the previous year. Rules and targets for these industries are expected to be announced before December.&nbsp;

Presently, India has already implemented a market for trading certificates, rewarding entities in 13 sectors for surpassing energy savings targets. This prior experience provides a solid foundation for the upcoming carbon trading initiative.&nbsp;

(With inputs from Reuters)&nbsp;

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India is presently taking steps towards environmental sustainability by introducing carbon emission reduction targets for four pivotal industries, government sources told Reuters on Tuesday.

India is presently taking steps towards environmental sustainability by introducing carbon emission reduction targets for four pivotal industries, government sources told Reuters on Tuesday. Reuters cited two anonymous government sources, who revealed that petrochemicals, iron and steel, cement, and pulp and paper industries will have carbon emission intensity benchmarks and reduction goals spanning three years. These targets align with India's commitment to the United Nations for greenhouse gas reduction, forming a crucial component of its climate change strategy. Government insiders have disclosed to Reuters that these four sectors will help India enter the carbon trading market in April 2025. This initiative empowers companies to buy and sell carbon credits, helping them meet their emission reduction targets. Reuters quoted the senior government official as saying, "The mandates will be applicable from 2024-25, and the (carbon) trade will start in 2025-26." India's climate commitments are robust, aiming to reduce greenhouse emissions relative to gross domestic product (GDP) by 45 per cent compared to 2005 levels by 2030. Furthermore, the nation has set an ambitious goal of achieving net-zero emissions by 2070. These emission reduction mandates represent a significant step toward realising these climate ambitions. Companies exceeding their emission reduction targets will earn carbon credits, which can be traded to companies falling short of their emission reduction objectives. This market-driven approach encourages environmental responsibility and sustainability. The framework for trading carbon credits is being established following a legislation passed by the Indian Parliament in December of the previous year. Rules and targets for these industries are expected to be announced before December. Presently, India has already implemented a market for trading certificates, rewarding entities in 13 sectors for surpassing energy savings targets. This prior experience provides a solid foundation for the upcoming carbon trading initiative. (With inputs from Reuters) WATCH WION LIVE HERE

Indian government to enforce emission reduction targets for key industries: Report

In a move toward combating climate change, the UK government's development finance institution, British International Investment (BII), has set its sights on a $1 billion investment in Indian clean energy projects by 2026. This ambitious initiative is fuelled by India's burgeoning renewable energy capacity, with BII's CEO, Nick O'Donohoe, emphasising the pivotal role that India will play in achieving the 2030 climate goals agreed upon by both India and the UK. &nbsp;

Reuters quoted O'Donohoe as saying, "We are evaluating exciting businesses in sectors such as bio-fuels, circular economy ... as part of the vision for the 2030 roadmap agreed between India and the UK."&nbsp;

This substantial commitment follows BII's remarkable investment of over $300 million in climate finance within India last year. These investments spanned sectors ranging from renewable energy and electric mobility to sustainable agriculture. As of now, BII's portfolio in India is valued at an impressive $2.2 billion, spread across more than 290 businesses. It's worth noting that in 2022, BII pledged to invest up to $250 million in Mahindra and Mahindra Ltd's new electric vehicle unit, underlining its faith in the Indian market.&nbsp;

According to Reuters, O'Donohoe expressed his enthusiasm for investing in India, speaking of buoyant stock markets and stable political environment as significant factors in BII's decision-making. While he didn't delve into specific returns on Indian investments, he did affirm that India was experiencing a "good phase" compared to some African nations where challenges like high debt, inflation, and weakening currencies have impacted returns.&nbsp;

BII aims to support emerging entrepreneurs and companies struggling to secure funding for their emission-cutting projects. &nbsp;

According to a report by The Economic Times, O'Donohoe highlighted India’s and UK’s focus on green hydrogen, recognising its role in the transition to a net-zero future. "It'sclear that hydrogen will be a critical part of the (transition to) net zero... That's why development finance has an important role to play," The Economic Times quoted him as saying. &nbsp;

The report said that, in addition to green hydrogen, BII is exploring opportunities in sectors such as biofuels, the circular economy, micro-enterprises lending, agriculture, and agritech.&nbsp;

Nick O'Donohoe also weighed in on the reform of multilateral development banks (MDBs), a crucial topic endorsed by the Delhi Declaration of the G20 leaders. He anticipates progress in this area at the upcoming World Bank meeting in Marrakesh. O'Donohoe emphasised the potential for MDBs to leverage their balance sheets more aggressively for climate finance, a crucial step in meeting the financing needs outlined in the Delhi Declaration.&nbsp;

(With inputs from Reuters)&nbsp;

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In a move toward combating climate change, the UK government's development finance institution, British International Investment (BII), has set its sights on a $1 billion investment in Indian clean energy projects by 2026.

In a move toward combating climate change, the UK government's development finance institution, British International Investment (BII), has set its sights on a $1 billion investment in Indian clean energy projects by 2026. This ambitious initiative is fuelled by India's burgeoning renewable energy capacity, with BII's CEO, Nick O'Donohoe, emphasising the pivotal role that India will play in achieving the 2030 climate goals agreed upon by both India and the UK. Reuters quoted O'Donohoe as saying, "We are evaluating exciting businesses in sectors such as bio-fuels, circular economy ... as part of the vision for the 2030 roadmap agreed between India and the UK." This substantial commitment follows BII's remarkable investment of over $300 million in climate finance within India last year. These investments spanned sectors ranging from renewable energy and electric mobility to sustainable agriculture. As of now, BII's portfolio in India is valued at an impressive $2.2 billion, spread across more than 290 businesses. It's worth noting that in 2022, BII pledged to invest up to $250 million in Mahindra and Mahindra Ltd's new electric vehicle unit, underlining its faith in the Indian market. According to Reuters, O'Donohoe expressed his enthusiasm for investing in India, speaking of buoyant stock markets and stable political environment as significant factors in BII's decision-making. While he didn't delve into specific returns on Indian investments, he did affirm that India was experiencing a "good phase" compared to some African nations where challenges like high debt, inflation, and weakening currencies have impacted returns. BII aims to support emerging entrepreneurs and companies struggling to secure funding for their emission-cutting projects. According to a report by The Economic Times, O'Donohoe highlighted India’s and UK’s focus on green hydrogen, recognising its role in the transition to a net-zero future. "It'sclear that hydrogen will be a critical part of the (transition to) net zero... That's why development finance has an important role to play," The Economic Times quoted him as saying. The report said that, in addition to green hydrogen, BII is exploring opportunities in sectors such as biofuels, the circular economy, micro-enterprises lending, agriculture, and agritech. Nick O'Donohoe also weighed in on the reform of multilateral development banks (MDBs), a crucial topic endorsed by the Delhi Declaration of the G20 leaders. He anticipates progress in this area at the upcoming World Bank meeting in Marrakesh. O'Donohoe emphasised the potential for MDBs to leverage their balance sheets more aggressively for climate finance, a crucial step in meeting the financing needs outlined in the Delhi Declaration. (With inputs from Reuters) WATCH WION LIVE HERE

British International Investment to invest $1 billion in India's clean energy projects

India will set carbon emission reduction targets for four fossil fuel-dependent sectors. The latest development comes at a time when the Asian country looks to align its industry with the country's greenhouse emissions reduction target. According to a Reuters report, India will fix carbon emission intensity benchmarks and reduction targets for three years for companies in petrochemicals, iron & steel, cement, and pulp & paper. The companies in the four sectors are also likely to be the first ones to trade on the country's carbon trading market from April 2025, which will enable them to buy and sell carbon credits to meet their goals.

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UK Interior Minister Suella Braverman, on Wednesday (September 20) said that Britain needed to take a practical approach to achieving net zero because it could not "save the planet by bankrupting the British people".

''The Prime Minister is taking an approach of pragmatism and proportionality when it comes to delivering our net zero commitments. It's right that he assesses the issue as a whole, taking into account people's bank balances, livelihoods, the way that they are living their lives and the cost of living challenges that many families around the country are facing. And ultimately, we're not going to save the country by bankrupting the British people," Braverman said.

''We remain committed to delivering net zero by 2050. That is my personal view. I agree with the government's position on this. What I also agree with is that we need to adopt an approach of pragmatism and balance and we need to ensure that we achieve that goal, but in a sustainable way, in a way that doesn't impose undue and disproportionate cost on families and householders on workers, and that we don't inhibit the daily way of lives that many of us are used to."

"For example, the way we get to work, the way we heat our homes, the way we run our lives. We are all committed to making our country greener cleaner and more sustainable. We all share that noble view, myself included. But we need to adopt an approach of pragmatism and proportion," she added.

Also read:&nbsp;<a href="https://www.wionews.com/world/zelensky-says-strip-russia-of-veto-power-during-unsc-speech-lavrov-responds-638022">Zelensky criticises UN, says strip Russia of UNSC veto power; Lavrov responds</a>

The United Kingdom was the first major economy to create a legally binding target aimed at bringing greenhouse gas emissions to net zero by 2050 and was also quick to build up its renewable energy capacity in earlier years.

But recently, PM Rishi Sunak's government has appeared to waver on some of the measures that are required to hit that target as the cost of decarbonising everything, from travel to the heating of homes, has crystalised during a prolonged cost-of-living crisis.

(With inputs from agencies)&nbsp; 
&nbsp;

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UK Interior Minister Suella Braverman, on Wednesday (September 20) said that Britain needed to take a practical approach to achieving net zero because it could not "save the planet by bankrupting the British people".

UK Interior Minister Suella Braverman, on Wednesday (September 20) said that Britain needed to take a practical approach to achieving net zero because it could not "save the planet by bankrupting the British people". ''The Prime Minister is taking an approach of pragmatism and proportionality when it comes to delivering our net zero commitments. It's right that he assesses the issue as a whole, taking into account people's bank balances, livelihoods, the way that they are living their lives and the cost of living challenges that many families around the country are facing. And ultimately, we're not going to save the country by bankrupting the British people," Braverman said. ''We remain committed to delivering net zero by 2050. That is my personal view. I agree with the government's position on this. What I also agree with is that we need to adopt an approach of pragmatism and balance and we need to ensure that we achieve that goal, but in a sustainable way, in a way that doesn't impose undue and disproportionate cost on families and householders on workers, and that we don't inhibit the daily way of lives that many of us are used to." "For example, the way we get to work, the way we heat our homes, the way we run our lives. We are all committed to making our country greener cleaner and more sustainable. We all share that noble view, myself included. But we need to adopt an approach of pragmatism and proportion," she added. Also read: Zelensky criticises UN, says strip Russia of UNSC veto power; Lavrov responds The United Kingdom was the first major economy to create a legally binding target aimed at bringing greenhouse gas emissions to net zero by 2050 and was also quick to build up its renewable energy capacity in earlier years. But recently, PM Rishi Sunak's government has appeared to waver on some of the measures that are required to hit that target as the cost of decarbonising everything, from travel to the heating of homes, has crystalised during a prolonged cost-of-living crisis. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Brits over planet? Climate targets shouldn't bankrupt people, says UK minister Suella Braverman

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Even as heavy rains are lashing and flooding various states, the head of the Indian Met Department has predicted heavy monsoon rains in September. This is good news for India's farmers, the driest August this season in more than a century hit several of the summer crops.

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