Sign in Join

Your Climate Action Diary - 58

Year 2024 • Week 9 • Anushthatri Sharma
Hi,
 
Hope you are well and thriving !

With national elections later this year, the government has released an Interim Budget which covers its expenses and revenues until a new government is elected. We looked the Budget's highlights around climate change and net-zero pathways and have curated a single-piece that captures the story most well. Do give it a moment.

In the other news, the Central Consumer Protection Authority of India has prepared a much needed draft guideline on prevention of greenwashing. You can consider commenting to the draft as it is open for public feedback at the moment.

Plus, New-York pension fund set precedence by beginning dis-investment from fossil money.

Happy Reading & Stay Critical ! 
 
Regards,
Harish, 
Team - OnePointFive Tribe

India's Interim Budget Continues Support For A Net-Zero Future

The Interim Budget outlined measures for 'net-zero' by 2070 emphasizing on Green Energy, Electric Vehicles, Bio-Manufacturing/Foundry, and Blue Economy. It reinforced India's commitment to clean energy, allocating increased funds to the MNRE. Internal and Extra Budgetary Resources (IEBR) supporting green initiatives was risen to Rs 26,499 Cr. (The Interim Budget saw more announcements in climate 'mitigation' vs 'adaptation' and 'climate-related disaster management')

New-York's Pension Fund Sets Precedence on Fossil Fuel Exit

New-York State's largest public pension fund has decided sell approx. $25 million in Exxon securities (among the largest fossil fuel companies globally) from its portfolio due to the company's perceived lack of readiness for a low-carbon future. The announcement is being seen as setting the precedence for other pension funds to take similar steps. The pension fund holds about $260 billion in assets and has reduced its exposure to fossil fuels from $4.69 to $3.5 billion in just over 12 months.

India's Centre for Consumer Protection Drafts Greenwashing Guidelines

The Central Consumer Protection Authority (CCPA) has prepared a Draft Guidelines for Greenwashing Prevention and Regulation and has opened it for public commentary/input until March 21, 2024. The guidelines aim to curb deceptive environmental claims in advertisements. Applicable to all, they demand clear disclosure, avoidance of selective data presentation, and verifiable evidence-backed claims. (Note: Public Comment Form Available in Link)

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.