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Your Climate Action Diary - 31

Year 2023 Week 2 Anushthatri Sharma
Hi,

Our first newsletter this year ! 
As we are finding ours, we hope you too are beginning to find your footing for the year to come :)

We are also now one year closer to 2030 !! 7 years left until global emissions must be cut to 50% in order for the world to stay on course to limiting global warming beyond 1.5 degree celsius.

And let’s be honest - we are not even close to it. In fact annual global emissions have only gone up.

As political leaders begin to find solutions, we are likely to see capital investment move into large-scale new renewable technologies and project. This will of course, have to be backed by national policies that support their meaningful deployment.

We are only in the first week, and you will get a glimpse of this - in today’s newsletter. Notice how different countries are betting on different technologies; and strategising respective policies and funds.

Stay Safe,

Harish,
Team OnePointFive Tribe

Spain's Govt Approves Green Hydrogen Projects Regulation

Spain's government has approved a regulation to promote green hydrogen projects in the country by 2023. The move aims to support the growth of the renewable energy industry & reduce the country's fossil fuels dependency. The regulation also includes incentives (as tax breaks and subsidies) to encourage businesses to invest in green hydrogen projects.

Union Cabinet Of India Approves National Green Hydrogen Mission

The green hydrogen mission will aim to accelerate the development & deployment of green hydrogen in India, with the goal of reducing India's dependence on fossil fuels & achieving its climate change targets. The mission (which has been set up as a public-private partnership) will focus on green hydrogen production from renewable sources and development of 'storage & transport' infrastructure.

New York To Collect Nearly $1 Billion With Big Polluter Permits

New York state is planning to selling "big polluter permits" to power plants, manufacturers & other businesses that emit large amounts of greenhouse gasses, in an effort to reduce emissions & combat climate change. It is to generate over $1 billion in revenue that the state will use to fund clean energy projects & other initiatives aimed at reducing emissions.