When do you see the Green Climate Fund finally seeing the light of day?

 

A. Climate funding is a very complex subject because the global financial architecture for this remains very complex. There are at present over 15 international public funds, over 50 carbon markets and over 1,000 equity funds which invest only in energy. Apart from several other financing mechanisms which invest in this (climate) area. There are lots of different funds but a great deal of frustration on the project proposal side which has to meet strict eligibility criterion. It is very difficult to know which fund exists and which is the most appropriate. To develop the documentation on how to access them is also very difficult.

 

 

India would face serious challenges in energy security if business continued in the inefficient manner as it is being conducted at present, Nobel peace prize winner R K Pachauri said. “The country is facing a serious challenge in energy security because of increasing demand for it at rates dangerously high,” Pachauri, DG of the Energy and Resources Institute (TERI), said here today.

 

India has threatened to review the benefits it provides to European airlines as it mounted its opposition to the European Union move to impose a carbon tax on carriers operating through Europe, a source said. Under a Horizontal Aviation Agreement between India and the EU, New Delhi allows European airlines to operate flights between India and any EU member-state.

 

 

The government has decided to set up a strategic advice group of experts on ‘equity’ in climate change negotiations. The group will advice the government on how to fashion its position in the post-Durban climate talks this year.

 

Eleven years ago, Muturkham forests, lying southeast of capital Ranchi, used to be the timber mafia’s busy workplace. No different from the rest of the state, which has lost 50% of forest cover to illegal logging in the last 10 years. Until 1999, when Muturkham’s jungle mafia met ‘Lady Tarzan’.

 

Growing concern about climate change and environment will be a point of focus in the Economic Survey, likely to be presented in the middle of March. With a balance between economic development and environment becoming a challenge for developing economies such as India, pre-budget Economic Survey for 2011-12 would devote a separate chapter on financing climate change.

 

In an effort to reduce carbon footprint, the Swedish Embassy has started using solar panels for power generation. The embassy will meet 10% of its total energy demand through solar power. The embassy building has solar panels spread over an area of 600 sqm that produce about 75 kw of power. This, say officials, will result in annual savings of Rs 7-8 lakh in power bills. 

 

 

Tata Technologies on Wednesday unveiled the prototype for a $20,000-electric car that can carry up to four passengers in Detroit as it set out to challenge more costly rivals. “The eMO project symbolises the coming of age of Indian automotive engineering,” said Warren Harris, President of Tata Technologies.

 

The Energy and Resources Institute (TERI) has undertaken a study of the impact of climate change on the state in order to identify critical areas of concern and to come up with solutions to mitigate the loss.

Environment minister Jayanthi Natarajan on Wednesday sought details from officials of her ministry after it was advised by the Central Vigilance Commission to launch a CBI probe against politicians and bureaucrats in Haryana, allegedly involved in a multi-crore forest scam.