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Dear readers,
Welcome to the Climate Weekly newsletter by the Centre for Science and Environment’s Climate Change
programme and Down to Earth.
A new investigative report by CSE and Down to Earth – titled ‘Discredited’ - takes a deep dive into India’s role in the global voluntary carbon market (VCM). As India emerges as the second largest source of carbon offset projects, the report puts forward pertinent questions — does the VCM really help in reducing global GHG emissions? And does it guarantee financial benefits to carbon-sequestering communities and sectors which would otherwise not get financing? Join us for the launch of the report at a webinar on October 5th.
The International Energy Agency (IEA) on 26th September 2023 released an update of its path breaking report 'Net Zero Roadmap: A Global Pathway to Keep the 1.5°C Goal in Reach.' Khushboo Pareek and I wrote a detailed breakdown of the report. The IEA highlights that global carbon dioxide emissions from the energy sector reached a record 37 billion tonnes in 2022, 1% above pre-pandemic levels. But they are likely to “peak” in this decade, as will the global demand for fossil fuels.
Crucially, the roadmap suggests that there is no need for new “long-lead time upstream” oil and gas projects in the Net Zero scenario, and “no new coal mines, mine extensions or new unabated coal plants”. More prescriptions – the IEA says we need to triple global installed capacity of renewable energy, reduce methane emissions by 75%, and provide between USD $80-100 billion in annual concessional funding by 2030. The report also pinpoints the need for increased equitable financing of clean energy in emerging markets and developing economies, calling for investments to the tune of USD $4.5 trillion by the early 2030s. The report claims that though the path to reaching net zero emissions is narrow, it is still achievable.
Meanwhile, over 70% of India’s districts report drought conditions ranging from mildly dry to extremely dry, and experts say this is likely to hamper agricultural production. CSE’s new report on the cement sector charts out pathways for decarbonizing the Indian cement industry. And you can register for the launch of the inaugural edition of the State of Africa's Environment Report 2023 here.
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By - Sehr Raheja
Climate Change, CSE
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| EXTREME WEATHER TRACKER |
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Over 70% of India reporting drought-like conditions, 26 September 2023
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El Nino to fuel temperature rise, 24 September 2023
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CLIMATE NEWS | SCIENCE| IMPACTS| POLITICS |
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| Webinar |
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Book Release and Media Briefing |
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