EU Commission presented its centrepieces strategy (Green Deal Industrial Plan) to ensure its industry can compete globally in making clean tech products and accessing raw materials required for a green transition. It set targets of producing at least 40% (by 2030) of the products it needs for 'net-zero' techs such as solar power or fuel cells. It also set regional targets to mine 10% of the critical raw materials it consumes (such as lithium) with recycling adding a further 15%. It also said no more than 65% of any key raw material should come from a single third country.
Seven 'Asia-Pacific' nations will share 3 allotted seats on a 24 member committee aimed at supporting vulnerable countries address climate-related 'losses and damages'. The committee, which has its first meeting in 27th March will detail out how such a fund will operate, who will pay & who will benefit. This follows from 2022, when countries had agreed to set up a fund - dedicated to climate-related 'loss and damage' for vulnerable countries. India will share seats with Philippines & Saudi Arabia.
In 2022, China approved the largest expansion of its coal-fired power plants since 2015. New report finds that its authorities granted permits for 106 gigawatts of capacity across 82 locations in 2022. The new facilities in China are equivalent to about 6-times the total coal capacity, added in the rest of the world. Note: Coal is the largest single source of global greenhouse gas emissions.
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OnePointFive is a registered trademark of Accurate, Mumbai
