Sign in Join

Your Climate Action Diary - 33

Year 2023 • Week 6 • Anushthatri Sharma
Hi,

Hope you are well !

'Green Transition' - picking space once again ! Earlier this month, EU celebrated its first major milestone along its 'green-transition' pathway; while India proposed a INR 35k Crores investment in its 2023 Union Budget to accelerate its own. Countries at work ! 

But it is alway handy to remember that any 'green-transition' plan will inevitably have to fall back on capital. There is a growing expectations from banks (and the investment industry, at large) to rethink funding, innovate and deliver for a Net-Zero future.

Happy Reading !

Stay Safe & Regards, 
Harish, Team OnePointFive Tribe

Wind & Solar Become EU's Leading Electricity Sources for First Time in 2022

Wind and solar power became the top source of electricity in the European Union (EU) for the first time in 2022. This shift marks a significant milestone in the EU's transition to renewable energy, driven by the bloc's ambitious climate targets. The share of wind and solar in the EU's electricity mix rose from 31% in 2021 to 37% in 2022, while the share of fossil fuels declined from 45% to 39%.

India's Union Budget 2023 Proposes INR 35k Cr. for Green Energy Transition

Indian Finance Minister has announced a INR 35,000 Crores investment for a "green energy transition" as part of the Union Budget 2023. This investment will help the country transition to cleaner & renewable energy sources; & supports the government's aim of reducing carbon emissions. The funds will be used to promote research & development in clean energy technologies.

Green Banks Exit Net-Zero Banking Alliance over Fossil Fuel Funding

Some banks, (which are focussed on financing environmental & clean energy projects) are beginning to depart from the global Net-Zero Banking Alliance, citing frustration over the Alliance's lack of action on critical issues such as 'fossil fuels funding'; and slow progress towards its goals of reducing carbon emissions. (The departure of these banks could negatively impact the growth and progress of the net-zero industry.)

Cookies Consent

We use cookies to personalise your content, and provide a better experience. By using our platform and services, you agree to our use of cookies as described in our cookie policy.