Ekam UPSC Environment

Rich countries failed to meet the $100 billion climate finance support goal in 2021, according to a new OECD report. The report also highlights concerns about climate finance being supplied in the form of loans and of countries counting the same disbursements multiple times in different categories. The OECD report also reported that private sector investments are stagnant, contrary to the expectations of the US climate envoy and the World Bank president.

United Nations’ latest report, Broken Record not only suggests that previous warnings of the consequences of rising greenhouse gas emissions are being ignored but also that new ceilings are being breached. The annual emissions report reiterates that progress since the Paris Agreement of 2015 has been tardy.

As climate change continues unabated, it could worsen India’s double burden of communicable and non-communicable diseases

It’s theoretically elegant to argue that switching to renewable energy will generate investments and jobs – but it may not work so smoothly in practice since the electricity grid must meet the peak demand at all times. The efficient operation of thermal power plants is critical for India since they ensure that peak and off-peak demands are met continuously, at affordable costs.

India must demand more finance to transition to green energy, says former Power Secretary Alok Kumar. India committed to 500 GW renewable energy by 2030 but needs finance to ensure electric grid can handle large loads.