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Your Climate Action Diary - 72

Year 2024 • Week 40 • Anushthatri Sharma
Hello,
Hope you're doing well!

The past two weeks have highlighted the severity of climate extremes.

[ India is experiencing its hottest period since 1970, while Nepal faces devastating floods and Central Asia’s glaciers continue to melt. Antarctica's Doomsday Glacier is melting faster, the Amazon River has hit an all-time low due to drought, Africa is in the midst of a flood crisis, and Hurricane Helene has triggered the worst floods in a century in the U.S. South. And this wasn't all. ]

While there’s definitely some positive momentum on climate action (as highlighted in this week’s shortlist), it does make you question whether we’re truly keeping up with the rapidly intensifying impacts?

Stay Aware, 
Harish
(Team OnePointFive) 

African Nations Plan Joint Debt-for-Nature Swap

At least five African nations are negotiating the world's first joint "debt-for-nature" swap, aiming to raise $2 billion for ocean conservation in the Indian Ocean region. This initiative, part of the "Great Blue Wall" plan backed by the U.S. and UK, aims to protect 2 million hectares of ocean ecosystems by 2030, benefiting 70 million people. Debt-for-nature swaps involve replacing costly debt with cheaper alternatives, using the savings for environmental protection. Key negotiations include financing, debt amounts, and conservation oversight.

India Unveils ₹9.15 Lakh Crore Power Blueprint

India's Ministry of Power unveiled a ₹9.15 lakh crore National Electricity Plan (2023-2032) to enhance the power grid, targeting 458 GW demand by 2032. Union Minister Manohar Lal emphasized the plan as a proactive measure to meet future demands and integrate technologies like renewable energy and green hydrogen. Key initiatives include expanding the transmission network, increasing capacity to 6.48 lakh ckm, electrifying vulnerable households, and improving cybersecurity. The plan also promotes renewable energy evacuation and supports electric vehicle infrastructure development.

China Prioritizes Energy Storage in Transition

Energy storage has become a critical focus in China's green energy transition, highlighted by a major event in Shanghai drawing over 170,000 visitors. With wind and solar capacity exceeding 1,200 gigawatts, attention has shifted to ensuring efficient energy usage. Battery storage, currently at 44 gigawatts, is key to achieving China’s carbon peak and neutrality goals, with projections of 300 gigawatts by 2030. However, overcapacity in battery production is forcing some manufacturers to sell at a loss, despite growing demand.

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