Ministry of New and Renewable Energy (MNRE)’s Post

India is facing severe impacts of #climatechange, with 2023 witnessing extreme heat and rainfall events, and 2024 expected to be even hotter. The human and economic costs are soaring, with #climatechange potentially reducing India's GDP by up to 10% annually by 2100 if no action is taken. Businesses, particularly in the FMCG and automobile sectors, are already feeling the effects, highlighting the urgency for comprehensive #mitigation and #adaptation strategies. Collaboration between government, businesses, civil society, and multilateral organisations is essential. Businesses can invest in adapting their operations and supply chains, provide necessary goods and services, and contribute financial and technical resources. Civil society organizations can implement community-based adaptation programs, while multilateral banks and philanthropies can offer vital funding and act as convenors of initiatives. The India Climate Collaborative (ICC) exemplifies successful multi-stakeholder initiatives, working towards scalable, evidence-based climate solutions. Strengthening such collaborations and equipping local communities with necessary tools and information will enhance #resilience, contribute to #sustainable #development goals, and support the Paris Agreement commitments. #ClimateAction #Sustainability #Collaboration #IndiaClimateChange

India Calls For $1 Trillion Annual Climate Funding from Developed Economies. Climate finance is the key for scaling up climate action. Para 53, decision 1/CP21, decided that New Collective Quantified Goal (NCQG) needs to be set (prior to 2025) from a floor of USD 100 billion per year. In its submission on the NCQG, India pitched for USD 1 trillion annual climate funding. "In line with the needs of developing countries, developed countries need to provide at least USD 1 trillion per year, composed primarily of grants and concessional finance". Full submission attached. #climatefinance #climateactionnow

India predominantly taps into domestic resources to meet its substantial climate action funding requirements, which are expected to reach tens of trillions of dollars by 2070. It is crucial for India to enhance its green finance framework to effectively manage and mobilize these vast financial needs. #ClimateAction #GreenFinancing #ClimateInitiatives #GreenFinance #ChinaGreenFinanceInitiatives #GreenBonds #S&PGlobalMarketIntelligence #GreenFinanceTaskForce #UNEP #RiskMitigation #GreenFinancePolicy #SovereignGreenBonds #GreenDeposits #TaxIncentives #GreenAlternatives #BRSR #MarketEnhancements #BusinessResponsibilityAndSustainablityReporting #DebtInstruments #GreenTechInvestments #InternalCarbonPricing

#blopinion: As India establishes a vibrant carbon market backstopped by a robust regulatory framework, it offers a vibrant and affordable source for carbon credits for developed nations and carbon emitting industries to comply with their emission budgets. https://trib.al/ZjaU4eC

"Supreme Court Emphasizes the Crucial Role of Forest Protection Amid Climate Change Challenges" In a significant move, the Supreme Court has reiterated the critical importance of safeguarding our forests in the face of climate change. Just a week after acknowledging the fundamental right to be shielded from the detrimental effects of climate change, the Court has once again underscored the potential risks posed by environmental degradation. Citing the Reserve Bank of India's recent report titled “Report on Currency and Finance; Towards a Greener Cleaner India” (2022-23), the Court highlighted a concerning outlook for our environment. The report paints a vivid picture of the challenges ahead, urging us to act swiftly and responsibly to protect our natural resources. Let's join hands in recognizing the urgency of this issue and take collective action to ensure a sustainable and resilient future for our nation. #ClimateChange #ForestProtection #SupremeCourtJudgment

This monumental affirmation sets a powerful precedent for prioritizing environmental protection and ensuring justice for all. Let's celebrate this significant step towards a more sustainable and equitable future! #EnvironmentalRights #SupremeCourt #Sustainability"

India faces significant challenges from global warming, impacting its environment, population, and economy with floods, heat waves, and depleting groundwater. While judicial interventions have been effective in other environmental issues, climate change presents a unique challenge requiring broader solutions. However, a recent Supreme Court ruling recognizing the fundamental right to be protected from climate change impacts marks a positive step. It elevates climate change to a human rights concern and empowers citizens to hold governments and corporations accountable. Despite challenges, this ruling could energize climate litigation efforts and drive sustainable practices. My oped in moneycontrol.com https://lnkd.in/dceRSCi4 (Behind a paywall) #ClimateChange #SupremeCourt #India #HumanRights #Environment #ClimateJustice #LegalRecourse #Sustainability #GlobalWarming #EnvironmentalProtection #JudicialIntervention #EconomicDevelopment #SocialJustice #ClimateLitigation #PolicyChange #InternationalCooperation #climatejustice

"How will India embrace sustainability in the face of climate change?" This question resonates deeply as we explore the green commitments outlined in the Union Budget 2024-2025. 🌍💚 The budget emphasizes climate resilience and sustainable development, addressing critical issues like flood management 🌊, energy transition ⚡, and enhancing climate finance 💰. These initiatives aim to pave the way for a greener future and demonstrate India's commitment to tackling environmental challenges. Yet, as we move forward, questions remain about the feasibility and implementation of these ambitious policies. 🤔 Swipe more to read! Read more about this article by DIYA JAIN: https://lnkd.in/df5EXXMp 🔗 #climatechange #sustainability #unionbudget2024 #greeneconomy #environment

Climate Policy Initiative - India is all set to launch its report "Financing Adaptation in India". The report captures India's approach to climate adaptation, assesses adaptation investment needs at the subnational level, and explores avenues to bridge the funding gap through public and private financing. Stay tuned to download a copy of the report on 21 February 2024. Co-authors: Uma Pal Aanandita Sikka Labanya Prakash Jena, CFA, SCR #Adaptation #Climatechange #Publicfinance #Greenfinance

In their post on Down To Earth, Namrata Kabra and Ambika Vishwanath remind us that the Supreme Court of India, in MK Ranjitsinh & Ors v. Union of India & Ors, acknowledged that the fundamental Right to Life and Equality includes the right against the adverse effects of climate change, opening the door for litigation against the state for inadequate or poor climate resilience measures. The authors posit that "A comprehensive adaptation resilience strategy, beyond the existing Nationally Determined Contributions (NDC) and climate action plans, is urgently needed to safeguard the population, economy and ecosystems from overlapping climate impacts affecting India's diverse geography." Further, they assert, "Fundamentally, this necessitates a transition from a policy framework to binding legislation addressing responsive climate adaptation — a legal mechanism that exercises the right recognised by the Supreme Court." #climateadaptation #climateaction #resilience #India #AdaptationLeader