Global Electricity Review 2024, published in energy think tank Ember's annual report, says that for 1st time in world, renewable energy is accounting for 30% of total energy generation.
While developed nations urge reevaluation of climate aid, India says there must be agreement on burden sharing among developed countries 'to establish fair share of collective obligation'.
Climate Analytics report said global renewable energy capacity needs to grow 3.4-3.6 times by 2030 & that goal of tripling renewables should be treated 'as a floor, not a ceiling'.
In the run-up to COP29 in Azerbaijan, Aosis members will need to continue to explore other routes to compel wealthy nations to recognise the needs of the world’s most vulnerable states.
Coal accounts for 75% of energy generated in India, with govt not decommissioning any existing capacity & in process of adding more. Renewable energy also too expensive at the moment.
In a victory for India and other developing economies, the agreement avoids the term ‘phase out’ for fossil fuels, using “phase down of unabated coal power” instead.
Though the 2-week climate summit ended with adoption of 'Global Stocktake' text, some say actual resolution is 'marred by loopholes', giving fossil fuel industry 'numerous escape routes'.
The Congress has promised Rs 50,000 assistance to each woman but as we've seen in many recent elections, voters seem to be conscious of the proverb: 'A bird in hand is worth two in the bush.'
Fears that an escalation of the conflict could heighten a fuel squeeze & endanger the economy unnerved traders, with NYT reporting Iran stopped negotiating a truce with the US.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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