Climate Change- Geography + Environment
Climate Change- Geography + Environment
B) Anthropogenic Factors:
Scientists, since the beginning of the 20th century, have studied
the impact of climate change caused by human activities.
Global warming, the long-term rise in the average temperature
of the Earth’s climate system, is a major aspect of climate
change. It is mainly a human-caused increase in global surface
temperature. The anthropogenic factors causing climate change
are as follows:
Change in landscapes:
Ocean Acidification:
Health issues:
The high temperature across the globe can pose health risks
and deaths.
The increased heat waves caused by climate change have led to
the deaths of many globally.
For instance, in 2003, the extreme heat waves led to the death
of more than 20,000 people in Europe and caused more than
1,500 deaths in India.
Climate change increases the spreading of contagious diseases
as the long-term warm weather allows disease-carrying insects,
animals and microbes to survive longer.
Disease and pests that were once confined to the tropics may
find it habitable in the colder regions that were previously
inhospitable.
Currently, there is an increase in death due to extreme heat,
natural disasters and diseases due to climate change.
The World Health Organisation estimates that between 2030
and 2050, climate change may cause approximately 250,000
additional deaths per year due to malnutrition, malaria,
diarrhoea and extreme heat.
Economic impacts:
Kyoto Protocol:
Paris Agreement:
REDD+
RENEWABLE ENERGY
What Is Renewable Energy?
Key Points
Dedicated Project Development Cells have been established
to facilitate investors ensuring ‘Ease of Doing Business’.
India’s renewable power capacity is the fourth largest in the
world and is growing at the fastest speed among all major
countries.
o India is a big market and a lot of countries are attracted
towards it in terms of One Sun, One World, One Grid
and International Solar Alliance.
The renewable energy capacity in India is currently 136 Giga
Watts, which is about 36% of its total capacity.
Government Initiatives
PATHWAYS FORWARD
According to a report by the Climate Policy Initiative, total investment
needed for India to meet its renewable energy targets by 2022 is $189.15
billion, 27% of which is required to be invested in wind, 37% for utility-
scale solar projects, 32% for solar rooftop projects, and 4% for biomass
and small hydropower projects. Several pathways are available for India to
overcome the four challenges outlined above and meet these investment
needs. These include foreign direct investment (FDI), domestic
investment, and financial incentives.
FDI. According to data from the Department for Promotion of Industry and
Internal Trade, cumulative FDI inflows in the power sector from 2000 to
2020 were around $15 billion, which is around 3% of total FDI inflows.
The government allowed 100% of FDI under the automatic route to the
power sector in 2012, easing the approval process.
This included investment in the generation and transmission of electricity
through hydroelectric dams, fossil fuel–based thermal power plants,
renewable energy generation and distribution, distribution of electricity to
households, industrial commercial users, and power trading. There has
been an increase in penetration of nonconventional sources of energy in
the Indian market, which have seen rising FDI participation.
Domestic investment. As a result of economic reforms and liberalization
policies across sectors implemented since the early 1990s, both the
private and public sectors have shown a sharp growth in investments,
especially in the power sector.
The potential investments that are available for renewable projects
amount to $411 billion, double the required investment target.
Despite large government investments, India’s energy sector relies on the
private sector more than ever as public-sector resources are more
directed toward public health and sustaining livelihoods.
Therefore, to attract private investment, the government has encouraged
the participation of nonfinancial banking companies, launched a new
investment fund, initiated the rationalization of tariffs, released subsidies,
and improved the bankability of power purchase agreements.
Financial incentives. Alternative debt vehicles such as “green” asset-
backed securities could be potential financial instruments for encouraging
investment in sustainable energy infrastructure.
By pooling renewable energy assets from different companies and
geographies at various points in their operational lifecycles, banks and
other financial institutions can hedge the risks associated with individual
renewable energy projects.
Green investment banks are government-funded entities that “crowd in”
private investment in low-carbon assets, provide debt for projects with
existing capital reserves, and raise funds through the issuance of bonds
and creation of asset-backed securities.
Governments can issue green bonds through private or public banks, the
World Bank, or regional development banks to attract both domestic and
international investors, which expands the investor base and incentivizes
private players interested in cleaner energy.
Indian green bonds are very much in demand overseas. With many
countries aiming for a green recovery from the recession caused by the
Covid-19 pandemic, central banks may induce liquidity in the markets,
including through issuing green bonds.
Benefits:
What are the steps the Indian government has taken in the
production of green hydrogen?
Way Forward