17 Climate Change:

The Way Forward

Significant Ideas
The Romans were the first to use geothermal energy. In many parts of Italy,
they built public baths on-site at hot springs.

Modern wind turbines are quite complex, even though they appear rather
streamlined and sleek. Each could have as many as 8,000 parts. A typical tower
is about sixty metres tall, very large, and may reach up to a height of ninety
metres once the turbine blades are attached.

Scientists announced a breakthrough in nuclear fusion energy, a clean source,

in the United States of America.

India is taking several steps to tackle the problems arising from the impact of climate
change. The domestic policy on environmental problems related to climate is to protect
regional glaciers. Efforts are on to reduce single-use plastic. Countrywide, there is an
effort to reduce GHG emissions. The target is being achieved faster with the reduction
in coal use. Indian Railways has made successful efforts to make the entire system green
and eco-friendly. The use of clean cooking fuel is being promoted. Carbon subsidies
have been replaced with carbon taxes to discourage the use of fossil fuels. The coal cess
has been increased four times, from ` 50 per tonne to ` 200 per tonne. Domestic coal is
subject to a carbon tax of $US 2 per tonne, while imported coal is subject to a carbon tax
of $US 1.4 per tonne. The excise duty on petrol and diesel has also been increased. A
major step in educating girls will go a long way towards reducing the carbon footprint.
Educated girls would produce fewer children and help mitigate the effects of climate
change. Afforestation was given a boost by the Fourteenth Finance Commission. Six
billion dollars were transferred to the states, depending on their forest cover. The use
of renewable energy has been taken seriously all across the country. These are some
measures being taken and reflect a responsible commitment to work towards sustainable
development because energy production is the primary global contributor to climate
change. The burning of fossil fuels for the production of heat and electricity is a major
contributor to the greenhouse gases that are trapped in the Earth’s atmosphere. Ending
our reliance on fossil fuels and putting money into clean, readily available, reasonably
priced, sustainable, and reliable alternative energy sources is urgently needed. The
environment constantly replenishes renewable energy sources, which are abundant all
around us and emit little to no greenhouse gases or air pollutants. Addressing the climate

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 crisis requires a shift away from fossil fuels and towards renewable energy sources so that
the environment is constantly replenished with fresh air, which is abundant all around
us. Renewable sources of energy emit little to no greenhouse gases or air pollutants. If
we need to address the climate crisis, we need to make a shift away from fossil fuels and
in the direction of renewable energy sources. We need to actively understand, plan, and
implement measures to mitigate the climate crisis.

THE FITE TYPES OF RENEWABLE ENERGY

WIND GEOTHERMAL The turbine is connected
to a generator that
6.6% global electricity generation (2021) <1% global electricity generation (2021) produces electricity.

Wind flows over the blades of a wind

1 As the water reaches the 3
turbine, creating mechanical power
by rurning the blades.
surface, it boils over into
steam, which rotates a
steam turbine.
2

2
The blades are connected
to a drive shaft that turns
an electric generator to
1 Hot water from underground
reservoirs is pumped using
pipes or wells.
produce electricity.

$ 38 $ 75
cost per MWh
cost per MWh

Five Major Types of

SOLAR RENEWABLE HYDRO
ENERGY
3.7% global electricity 15.3% global electricity
generation (2021) generation (2021)

Photovoltaic (PV) cells contain

thin semiconductor wafers, $36 Globalrenewable energy capacity is $64
cost per expanding at a record pace. What are cost per MWh Dams or other diversion
forming an electric field.
MWh the major types of renewables,
structures alter the natural

1
and how do they work?
flow of water to increase
its elevation and volume.

When light hits the cell,

1
electrons are knocked

2
loose from the
semiconductor material Water flows through the dam,
generating mechanical energy
$114*
and move in response
to the electric field. that spins a turbine connected
cost per MWh to an electric generator.

2
3
This generates electricity,
BIOMASS Steam rotates the blades of a
turbine connected to a generator

2
transferred through metal
conductors on the PV cell. 2.3% global electricity that produces electricity.
generation (2021)

Biomass is burned
in a boiler to
produce steam. 1 3
Biomass can also be
converted into other liquid * represents the lifetime
or gaseous fuels used to cost of a new power plant
generate electricity. divided by total generation.

Renewable energy uses fewer fossil fuels and is more environmenta lly friendly
Source: https://elements.visualcapitalist.com/wp-content/uploads/2022/06/the-five-types-of-renewable-
energy.jpg

Types of Renewable Energy

a. Solar energy
The term ‘solar energy’ refers to all forms of energy produced by the Sun. Solar
panels capture and convert solar energy into electricity. After wind and hydropower,
photovoltaic (PV) energy generated 3.6% of the world’s energy, placing it third in
terms of production. By 2027, it is expected to surpass the generation of power by
coal. India’s capacity to produce solar power is set to reach self-sufficiency by 2026
and reach 110 gigawatts (GW). Rajasthan leads in this respect.

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 Glossary
Gigawatt, or GW, is a unit of measurement of electric power equal to one billion watts.
Terawatt-hour, also abbreviated as TWh, is a unit of energy equal to one trillion watts
of energy used or produced for one hour, a value often used to describe major energy
consumption or production. It is a value large enough to express annual electricity for
the world or individual countries.

Key Fact
Rajasthan has the world’s largest solar park (up to 2023) in the Thar desert at Bhadla,
Jodhpur. It is spread over 5783 hectares and produces 2245 megawatts (MW) of solar
power. The largest wind farm in India is at Muppandal in Tamil Nadu.
b. Wind energy
When the wind is used to produce mechanical or electrical energy, the process is
known as wind power or wind energy. Wind turbines convert the kinetic energy
of the wind into mechanical power. In 2022, over 2,100 TWh of retail energy in the
country were produced. China tops the list of the 15 largest producers of wind
power. India has large wind energy potential. Up until April 2023, its production
was 2.8 gigawatts. India’s wind energy production can reach 21.1 GW of installations
from 2023 to 2027.
c. Hydro-power
Hydropower, or hydroelectric power, is a renewable source of energy that
generates power by using a dam or diversion structure to alter the natural flow
of a river or other body of water to produce electricity. As per the International
Energy Agency, the global generation of hydel power increased by almost 70 TWh
to 4300 TWh in 2022. At present, India’s total installed capacity is 375.32 gigawatts
(GW). Out of this, only 12 percent, or 45.8 GW, is coming from hydroelectric power
projects. The Indian state of Gujarat is the highest Hydroelectricity Producer in
the country (43.5 GW).
d. Tidal energy
Tidal power, also known as tidal energy, is generated by converting tide energy
into useful forms of power, primarily electricity, using various methods. Although
not yet widely used, tidal energy has the potential for future electricity generation
as tides are more predictable than the wind and the sun. The world’s largest tidal
power station, with a generation capacity of 254 MW, is at Sihwa Lake in South
Korea. It has also been commercially feasible to produce tidal energy in France
(240 MW), Canada (20 MW), and very little in China and Russia (5 MW and 0.4 MW)
respectively). In India, conditions are suitable for developing tidal energy on the
west coast of Gujarat in the Gulf of Kutch and the Gulf of Khambat, and to some
extent in the Ganga delta and Sundarbans on the east coast.
e. Geo-thermal energy
Geo-thermal energy is the thermal energy in the Earth’s crust, which originates
from the formation of the planet and from the radioactive decay of Geothermal
energy materials in an uncertain but possibly roughly equal proportion.

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 f. Biomass energy
Living or once-living organisms generate or produce biomass energy. Biomass is
material from recently living organisms that is used for bio-energy production.
Examples are - agricultural residues such as crop residues (rice straw, wheat
straw, sugarcane bagasse, and corn stover), wood and wood residues, energy crops,
and organic waste from industry and households. Wood and wood residues are
the largest biomass energy sources today. Bio-energy accounts for 55% of global
renewable energy today and 6% of global energy supply. The Net Zero Emissions
by 2050 (NZE) scenario witnesses a rapid increase in the use of bio-energy to
displace fossil fuels by 2030. Methan is a village in the Patan district of Gujarat
where the largest biogas plant in India has been installed. It saves 500 metric
tonnes of fuelwood annually by using biofuels.

RENEWABLE ENERGY GENERATION

FROM DIFFERENT SOURCES (2021)

Solar Energy Wind Energy Hydro Energy Geothermal Energy Biomass Energy
3.7% 3.7% 3.7% 3.7% 3.7%

2021 Global Renewable Energy Generation from different Sources

Here are some reasons why clean energy will lead to a healthy, liveable planet today
and for generations to come.

BENEFITS OF RENEWABLE ENERGY

1. Zero emissions 6. Requires little maintenance

2. Unlimited resources 7. Improves public health
3. Reliance on imports reduced 8. Creates job opportunities
4. Lower electricity costs
5. Appropriate for domestic use

Benefits of clean energy for today and future generations

(i) Renewable energy sources are all around us and plentiful.
Renewable energy sources are available in all countries, but their potential needs
to be fully harnessed. Renewables can protect them from the unpredictable price
changes of fossil fuels while driving inclusive economic growth, new jobs, and
poverty alleviation.

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 (ii) Renewable energy is cheaper
Renewable energy is the cheapest power option in most parts of the world today.
According to the International Energy Agency (IEA), the cost of electricity from
solar power fell by 85 percent between 2010 and 2020. The cost of onshore and
offshore wind energy fell by 56 percent and 48 percent, respectively.
(iii) Renewable energy is healthier
According to the World Health Organisation (WHO), unhealthy levels of fine
particulate matter and nitrogen dioxide originate mainly from the burning of fossil
fuels. In 2018, air pollution from fossil fuels caused 2.9 trillion dollars’ worth of
health and economic costs, or about 8 billion dollars a day. Switching to clean
sources of energy helps address not only climate change but also air pollution and
health.
(iv) Renewable energy creates jobs
The IEA estimates that the transition to net-zero emissions will lead to an overall
increase in jobs in the energy sector. About 5 million jobs in fossil fuel production
could be lost by 2030, but an estimated 14 million new jobs would be created in
clean energy, resulting in a net gain of 9 million jobs.
(v) Renewable energy makes economic sense
In 2020, about 5.9 trillion dollars were spent on subsidising the fossil fuel industry,
including through tax subsidies and health and environmental damages that were
not accounted for in the cost of fossil fuels. In comparison, about 4 trillion dollars
a year need to be invested in renewable energy until 2030, including investments
in technology and infrastructure, to allow us to reach net-zero emissions by 2050.

Drawbacks of Renewable Energy

1. Renewable Energy Is Not Available Around the Clock
Renewable energy sources rely on natural forces, which depend on weather
conditions. Hence, if the weather conditions are bad, renewable energy technologies
will be less useful. For example, when it rains, the solar panels cannot generate
electricity, and people will have to switch to traditional power sources.
2. The Efficiency of Renewable Technologies Is Low
A specific type of technology is required for each renewable source so that it can be
converted into electricity. Unfortunately, the efficiency of renewable technologies
is lower when compared with traditional energy conversion devices. For example,
solar panel efficiency is between 15% and 20%. Whereas traditional technologies
that use coal or natural gas can reach efficiency levels of up to 40% and 60%,
respectively.
3. Renewable Energy Sites Require a lot of Space
A lot of space is required to set up renewable energy devices. This affects the
flora and fauna of the area. Furthermore, windmills must be located in areas with
consistent winds that are not obstructed for an extended period of time by trees or
buildings.

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 4. The Initial Cost of Renewable Energy Is High
The initial cost of renewable technologies is high and sometimes unaffordable. In
fact, the manufacturing and installation processes of renewable energy devices
are relatively expensive.
5. Renewable Energy Devices Need Recycling
Manufacturing renewable devices consumes traditional forms of energy. Their
processing and disposal might pollute the environment. For example, solar cells
may not perform well after a while, so they need to be disposed off. But these
devices might be toxic, and ways to recycle them need to be thought of.

Initiatives for Using Renewable energy in India

Renewable energy and energy efficiency programmes are designed to help energy
consumers in all sectors. Promotional policies and reforms have been rolled out. The
Indian government has rolled out programmes to promote the growth of the renewable
energy sector and is now facilitating investment in other clean technologies, such as
energy storage, green hydrogen, energy efficiency, and electric mobility.
To reduce its CO2 footprint in thermal power generation. India has co-fired biomass
in thermal plants across the country The biomass power/cogeneration programme has
been initiated since the mid-nineties. Over 800 biomass power and bagasse/non-bagasse
co-generation projects have been installed in the country to feed power to the grid.
The Government has announced an ambitious plan for ramping up solar energy in
our country from 20 gigawatts to 100 gigawatts by the year 2025.

Glossary
DISCOMs: Discoms are power distribution companies that connect power producers to
power consuming households. They serve as the link between utilities and customers.

The Challenges India Faces in Utilising Renewable Energy for Sustainable

Development
India’s population is expanding quickly, making it more difficult for the nation to
overcome its challenges in the energy sector. It is only made worse by expanding urban
sprawl and accelerating economic growth. The weak financial position of “power
distribution companies” (discoms) is the main obstacle to increasing renewable
energy. The Discoms are frequently subjected to insufficient payment cycles. In order
to improve the workings of the power distribution companies, the only way forward is
to enhance the grid infrastructure, schedule checks and balances, and improve their
financial health.
The supply of renewable energy is much more erratic than that of other energy
production techniques, which presents another challenge. The fluctuating wind and
sunlight levels make the supply of energy less reliable than it would be from fossil fuel
plants. Storage of the extra power produced is another issue. Owners are required to
use batteries in order to store energy for later use. The price of batteries has decreased

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 as a result of improvements in battery technology over the past few years, which has
helped to address this issue. But because the production of batteries requires the
mining of rare earth minerals and precious metals, sustainability concerns still exist
and have an impact on the environment. Also, the storage of batteries requires a lot
of space.
If the percentage of renewable energy power is enhanced, the variability in its
generation increases due to weather conditions. This makes operating the transmission
grid a technically demanding task. The weak transmission grid in the country has also
been a challenge. This is particularly true for the renewable energy projects located
in remote areas, away from large cities and consumption centres. An ambitious
solar project for Leh was recently cancelled because experts felt the transmission
infrastructure was too weak. In 2013, another ambitious green corridor programme
was launched to strengthen the grid and increase grid capacity for renewable energy.
It, too, faced hurdles.
Renewable Energy projects generate enough power that it is sometimes necessary
to reduce or turn off generation in order for the grid to function properly.
Forecasting and scheduling of wind and solar power have been reduced or used
to ‘switch off generation’ to ensure that the grid is operating smoothly. Recently,
these efforts have been revamped. This allows for the generation of Renewable
Energy power for the next 24 hours, which therefore allows better planning of
grid operations.

Total generation Total consumption

0 4,000 8,000 12,000 16,000 20,000 24,000 0 25,000 50,000 75,000 100,000 125,000

April 2020-January 2021, power in Million-kWh Source: CEA data & authors analysis; all data
pertains to April-Jan period for the year

April 2020-January 2021 power production and consumption in India

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 Key Fact
At the 26th Conference of Parties (COP 26), as informed by the Ministry of External
Affairs, the Indian Government updated its climatic commitments to take its non-fossil
energy capacity to 500 GW by 2030, meet half its energy requirements through renewable
energy sources, and reduce its carbon emissions by a billion metric tonnes from the date
of the conference till 2030. A commitment to cut the carbon intensity of its economy by
over 45% was also pledged.

Renewable Energy in India

With a population of nearly 1.4 billion, India has a massive demand for energy to fuel
its rapidly growing economy. As a power deficit nation at the time of independence,
efforts to make India energy-independent have continued for over seven decades.
Today, we are a power surplus nation with a total installed electricity capacity of over
4 lakh MW, according to the Central Electricity Authority.
Keeping in mind the sustainable development goals, India’s power generation mix is
rapidly shifting towards a more significant share of renewable energy. Today, India
is the world’s third largest producer of renewable energy, with 40% of its installed
electricity capacity (according to the Ministry of New and Renewable Energy) coming
from non-fossil fuel sources.

Installed capacity of renewable sources of energy in India

Solar Wind Small Large Biopower Nuclear
hydro hydro
48.55 GW 40.03 GW 4.83 GW 46.51 GW 10.62 GW 6.78 GW

Table to show-Installed capacity of renewable sources of energy in India

The Journey towards Renewable Energy in India

As a developing nation at the time of its independence, India relied heavily on coal
to meet its energy demands. However, India has always been committed to looking
for more alternative energy sources for sustainable development. The beginning was
made with hydropower, with major hydroelectric power projects appearing on the
scene in India’s energy arena. Over the years, many policy and regulatory initiatives
have promoted hydropower development and facilitated investments. Today, we are
fifth in the world (according to the Federation of Indian Chambers of Commerce and
Industry) regarding usable hydropower potential.
The Bhabha Atomic Research Centre (BARC) was founded in the 1950s to secure
the country’s long-term energy independence. Today, we are the only developing
nation with indigenously developed, demonstrated, and deployed nuclear reactors for
electricity generation. This was made possible through several decades of extensive
scientific research and technological development.

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 Work on wind energy started in India during the 1960s, when the National Aeronautical
Laboratory (NAL) developed windmills, primarily for supplying irrigation water.
Today, we have the 4th largest wind power capacity in the world, blessed with a
constant movement of wind, especially in the Southern, Western, and North Western
regions.
Solar energy-based applications have benefited millions of Indians by meeting their
cooking, lighting, and other energy needs in an environmentally friendly manner.
Having achieved large-scale success in solar energy solutions, India has spearheaded
the International Solar Alliance (ISA), which is an action-oriented, member-driven,
collaborative platform for increased deployment of solar energy technologies. The
membership of the ISA is open to all member-states of the United Nations, and 107
countries are signatories to the ISA Framework Agreement at present. The Alliance
aims to efficiently utilise solar energy to reduce fossil fuel dependence, thereby
creating a greener planet.
Biomass has also been an essential source of energy for India. It is renewable, widely
available, carbon-neutral, and has the potential to provide significant employment
in rural areas. Rapidly evolving technology has enabled thermal power plants to
have more economical and energy-efficient operations. India has co-fired biomass
in thermal plants across the country to reduce its CO2 footprint in thermal power
generation.

Promoting Clean Energy and Climate Change

India has progressively decoupled economic growth from greenhouse gas
emissions. For example, the Net Zero Emissions target by 2030 by Indian Railways
alone will reduce emissions by 60 million metric tonnes annually. Similarly, India’s
massive UJALA LED bulb campaign is reducing emissions by 40 million metric
tonnes annually. To further complement these ongoing efforts, India launched the
National Hydrogen Mission in 2013 to make India the world’s largest hydrogen
hub.
Even though it supports the largest population in the world, India’s sustained efforts
have ensured that its per capita CO2 emissions are much lower than the global average.
The US emits 14.7 metric tonnes per capita, China emits 7.6 metric tonnes per capita,
and India’s CO2 emissions amount to 1.8 metric tonnes per capita.
The global power sector is undergoing an accelerated transformation due to
technological innovations and responses to climate change protocols. At COP-
21 in Paris in 2015, India committed to generating 40% of its power from non-
fossil fuel sources. We have achieved this target a decade ahead of the 2030
timeline.
India has consistently demonstrated its willingness to take the lead in combating
climate change. The country’s vision is to achieve Net Zero Emissions by 2070 and,
later, by 2050, in addition to attaining the short-term targets, which include:
§ Increasing renewable energy capacity to 500 GW by 2030

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 § Meeting 50% of energy requirements from renewables
§ Reducing cumulative emissions by one billion metric tonnes by 2030, and
§ Reducing emissions intensity of India’s gross domestic product (GDP) by
45% by 2030.
India’s experience will be valuable to other developing nations as they translate
their climate pledges into actions and undertake energy transitions towards a more
sustainable energy future.

Climate Action and Sustainable Development Goals 13

Climate action, according to the United Nations Development Programme (UNDP),
entails increased efforts to reduce greenhouse gas emissions while also strengthening
resilience and adaptive capacity to climate-induced impacts.
This includes:
§ Climate related hazards in all countries
§ Integrating climate change measures into national policies
§ Strategies and planning
§ Improving education and awareness
§ Raising human and institutional capacity with respect to climate change
mitigation, adaptation, impact reduction, and early warning
This will require mobilising tens of billions of dollars annually to address the needs
of developing and developed countries in moving towards a low-carbon economy and
building resilience and adaptation.
Sustainable Development Goal 13 (SDG 13 or Global Goal 13) is about climate action
and protecting life. It is one of the 17 Sustainable Development Goals established by
the United Nations General Assembly in 2015. The official mission statement for this
goal is to ‘Take urgent action to combat climate change and its impacts.’ SDG 13
has five targets that are to be achieved by 2030. They cover a wide range of issues
surrounding climate action.
The first three targets are ‘output targets’:
a. Strengthen resilience and adaptive capacity to climate-related disasters
b. Integrate climate change measures into policies and planning
c. Build knowledge and capacity to meet climate change
The remaining two targets are ‘means of achieving’ targets:
a. To implement the UN Framework Convention on Climate Change
b. To promote mechanisms to raise capacity for planning and management
Along with each target, there are ‘indicators’ that provide a method to review the
overall progress of each target, along with SDG 13 as a whole.

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 Climate change is not an isolated issue. It endangers our food, health, economy, and
future. By 2030, the United Nations has set these goals to end poverty, protect the
environment, and ensure peace and prosperity for all.
The United Nations Framework Convention on Climate Change (UNFCCC) is the
primary international, intergovernmental forum for negotiating the global response
to climate change.
A strong climate agreement supported by on-the-ground action will help achieve
the SDGs of poverty eradication, economic growth, and making all societies safer,
healthier, and more livable.
Many organisations are primarily focused on Climate Action (SDG 13), due to the
pressing need to act on climate change. Organisations that follow SDG 13 to take
climate action are not only supporting the transition to more sustainable industries
but also tapping into positive outcomes for related issues.
SDG 13 aims to reduce global temperatures by integrating climate change into
development strategies, strengthening resilience and adaptation capacities, and
improving education, awareness, and planning, especially in vulnerable communities.
Many people are interested in and concerned about climate change mitigation
and its effects. They are participants in the phenomenon. Their role in shaping
strategies and actions for addressing climate change is crucial. Some stakeholders
are-nongovernmental NGOs and activists; Governments at the local, state, national,
regional, and local levels who, through policies, can take action and who need to reduce
their carbon footprints. Customers, suppliers, businessmen, and local communities
can bring about a lot of change with their knowledge. These stakeholders all have
a role to play in mitigating climate change, and their actions can have a significant
impact on the overall effort to address this global challenge.

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 CLIMATE CHANGE
A warning for mankind

OUR WINDOW TO PREVENT A CATASTROPHIC CLIMATE CHANGE IS RAPIDLY CLOSING

RISING SEA LEVELS RISING SEA LEVELS DROUGHTS DISASTERS

Increase in sea level by Increase in sea level by 700 million people are There will be an increase in
20-30 cms by 2100 20-30 cms by 2100 expected to be displaced by medium to large-scale disasters
droughts by 2030 by 40% between 2015-2030

CLIMATE FINANCE
INCREASE OF 6% IN ENERGY
A SHORTFALL OF
RELATED
$100 BILLIONS
CARBONDIOXIDE EMISSIONS
IN YEARLY COMMITMENT
IN 2021

$100 BILLIONS
HIGHEST LEVELS OF WERE PROVIDED BY
EMISSIONS EVER DEVELOPING COUNTRIES FOR
REACHED CLIMATE FINACE IN 2019

CONTINUOUS, UNABATED
RISING GLOBAL TEMPERATURES
ARE LEADING TO
MORE EXTREME GLOBAL WEATER
1850 1875 1900 1925 1950 1975 2000 2021
CONDITIONS

Climate Change-CODE RED.... Warning Mankind

Hotlink
Students, you are also stakeholders. Engage yourself in calculating
your carbon footprint by clicking the link or scanning the QR code:
Carbon Footprint

Green Bonds
Green bonds are bonds issued by any sovereign entity, inter-governmental organisations
or alliances, or corporations with the intention of using the bond proceeds to fund
environmentally sustainable projects. On November 9, 2022, the government issued
the framework for the sovereign green bond. Green bonds raise funds for new and
existing projects that deliver environmental benefits and a more sustainable economy.
Green bonds are commonly used to finance the following types of projects:
§ Energy efficiency projects
§ Renewable energy projects
§ Pollution prevention and control projects

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 § Natural resources and land management projects
§ Clean transportation projects
§ Wastewater and water management projects
§ Green building projects

GREEN BONDS
What are their main uses?

Responsible waste
Renewable energy Energy efficiency Clean transportation
management

Green Bonds invest in a greener future by promoting clean energy, clean

transportation, and sustainable water, as well as assisting in the financing of a low-
carbon economy.
Green bonds are specifically destined for the funding or refunding of green projects, i.e.,
projects that are sustainable and socially responsible in areas as diverse as renewable
energy, energy efficiency, clean transportation, or responsible waste management.
There are five main types of bonds: Treasury/sovereign, savings, agency, municipal,
and corporate. Each type of bond has its own sellers, purposes, buyers, and levels of
risk vs. return. If you want to take advantage of bonds, you can also buy securities that
are based on them, such as bond mutual funds.
There are four types of green bonds:
(i) Green “Use of Proceeds” bond, which is comparable to standard bonds in terms of
security.
(ii) Green ‘Use of Proceeds’ revenue bond: backed by revenue-generating projectss
(iii) Green project bond: secured by a project’s assets and balance sheet
(iv) Green securitized bond: secured by a larger asset pool
Issuers sell bonds or other debt instruments to raise money; most bond issuers
are governments, banks, or corporate entities. Underwriters are investment banks
and other firms that help issuers sell bonds. Bond purchasers are the corporations,
individuals, and governments that buy the debt that is being issued.
Since 2008, the World Bank has issued approximately USD 18 billion equivalent in
Green Bonds through over 200 bonds in 25 currencies. World Bank Green Bonds
are an opportunity to invest in climate solutions through a high quality fixed-income
product.
In India, the Central Government issues both, Treasury bills and bonds or dated
securities, while the State Governments issue only bonds or dated securities, which
are called State Development Loans (SDLs).

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 GREEN BOND MILESTONES OVER THE YEARS......

2007 2014 2015

The European Investment Bank The first certified Climate Bond. The Green Bond market hits the
(EIB) issued the first-ever Green Belectric Solar, UK $100 billion mark in cumulative
Bond. (USD807.2 million issuance

2018 2017
Indonesia comes into the market.
Belgium issues Sovereign Green
France comes to market and moves to becoming
the largest Sovereign to date.
2016
Bond. (SGB) Issuance of the
Fiji Sovereign issue to market (USD 807.2 million first Green
Lithuania issues SGB
Nigeria becomes the first Certified Sovereign Issuer. Sovereign by
Ireland issues SGB
Green Bond market hits $250 billion in cumulative Poland
Green Bond market hits
issuance
$517 billion in cumulative

2019 2020
The Netherlands becomes the largest Certified Sovereign Chile Green Bond Market hits $1 Trillion
becomes first sovereign issuer out of the Americas. Green Bond by December
market hits $783 billion in cumulative issuance

Green Bond Important Milestones

Benefits of investing in Green Bonds

By investing in Green Bonds, a person can diversify his/her investments. Besides
all the other benefits, these options offer exciting opportunities to both issuers
and investors to encourage sustainable growth while leading the investment
community.

Development
of bioenergy Alternative energy,
development renewable energy
Use of climate
Manage and resilient
control waste infrastructure Developing a
and pollution circular economy
Develop smart
city solutions Energy efficiency
Development of
sustainable agriculture
and forestry
Conservation
of water
resources Fuel efficient urban
transportaion

Development of
infrastructure

The advantages of Green Bonds include the ability to raise funds for projects that have
environmental or climate benefits.

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 Green and Blue Economies
An economy that aims to reduce environmental risks, makes all efforts to achieve
sustainable development without degrading the environment, and also makes efforts
to keep environmental risks and ecological scarcities at a minimum level is called a
green economy.
Public and private investment play a major role in funding economic activities like
infrastructure and assets that reduce pollution and carbon emissions. Energy efficiency
and resource enhancement are essential parts of a green economy. Sustainable
development is to be achieved in a green economy with a new and positive focus on
the economy, capital, infrastructure, employment, and skills to achieve positive social
and environmental outcomes.
RENEWABLE
ENERY

CLEAN GREEN
TRANSPORTATION BUILIDNGS

GREEN
ECONOMY

WATER WASTE
MANAGEMENT MANAGEMENT

LAND
MANAGEMENT

A green economy seeks to reduce environmental risks while also pursuing long-term
development.

Blue economy, on the other hand, is part of a broader concept of the green
economy. The term relates to the exploitation, conservation, and regeneration of the
environment in marine waters. It requires the sustainable use of oceanic resources for
the economic growth of people and nations that seek jobs related to these resources
and those who seek their livelihood from these resources, while at the same time
ensuring the ocean ecosystem remains healthy for future generations. The Blue
economy includes sectors like fisheries, transport by ocean waters, shipping, marine
tourism, mining, waste disposal, construction, aquaculture, and related activities.
Countries with extensive coastlines offer diverse economic opportunities. Can you
name some of these?

Q Question
ū Three fourths of the earth is covered by ocean waters. What are some of the challenges
that a blue economy would face in the coming years from unsustainable human activity?

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 The Blue Economy uses ocean resources sustainably and strategically for economic
growth, improved livelihoods, jobs, and healthy ocean ecosystems.
Source: https://www.worldbank.org/content/dam/infographics/780xany/2017/may/image1.JPG

Conclusion
Our planet is in distress. It has constantly given us indications of the burden it can no
longer support in recent decades through numerous natural disasters such as global
warming, glacial melt or even receding glaciers, floods, coastal erosion, hurricanes,
droughts, and so on. We continue to exploit and harm the environment, polluting the
air, land, and water and overexploiting the available natural resources, more for greed
than for need. Our response to the long-term negative impact is grossly inadequate
for short-term gains. We must be aware of the distress signals sent by our planet in
the form of natural disasters that are wreaking havoc in so many parts of the world.
Development is unquestionably important; however, it must be sustainable. It must
be designed to meet current needs while protecting natural resource availability for
future generations. Demand for natural resources is at an all-time high and is expected
to rise further--for food, clothing, water, housing, infrastructure, and other aspects of
daily life.
Resource extraction has more than tripled since 1970, with a 45% increase in fossil
fuel use. Material extraction and processing account for half of total greenhouse gas
emissions, as well as more than 90% of biodiversity loss and water stress. We need 1.6
Earths to sustain our current way of life, and ecosystems are struggling to keep up
with our ever-increasing demands.

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 According to the United Nations, the material footprint per capita in high-income
countries, minus the number of primary materials required to meet our needs, is
more than ten times that of low-income countries. In addition, the Group of 20 major
economies (G-20) is responsible for 78% of global greenhouse gas emissions that
contribute to global warming.
We cannot completely prevent global warming, but we can reduce it by changing our
behaviour and way of life. Because we are the ones who caused this problem, we must
find a solution so that not only we but all other inhabitants of the biosphere, such as
plants, animals, and so on, can coexist and thrive. Realising that each of us can make
a difference is essential.
Despite the fact that we cannot completely replenish depleted resources or stop global
warming, we can certainly make an effort to reduce the impact of greenhouse gases
and other factors that cause global warming. Climate change can be mitigated by
changing our own behaviour and adopting a more sustainable way of life.

References
What is renewable energy? | United Nations
Renewable energy – powering a safer future | United Nations
Transforming climate issues into action | United Nations
What are the Pros and Cons of Renewable Energy? | GreenMatch
https://economictimes.indiatimes.com/industry/energy/power/discoms-outstanding-dues-to-gencos-
rise-4-4-to-rs-121030-crore-in-january/articleshow/88786913.cms
BARC activities for the Indian Nuclear Power Program.
India has achieved its NDC target with total non-fossil based installed energy capacity of 157.32 GW which
is 40.1% of the total installed electricity capacity
https://www.un.org/en/actnow/facts-and-figures/
https://siid-blog.sites.sheffield.ac.uk/blog/blue-or-green-economy-how-do-people-understand-it-and-how-
do-we-measure-it
https://www.unep.org/resources/report/green-economy-blue-world-synthesis-report
https://www.linkedin.com/pulse/green-economy-vs-blue-economy-brief-engineering-panagiota-pimenidou/
https://www.linkedin.com/pulse/what-meant-green-blue-economyand-difference-between-them-
belhassen/?trk=pulse-article_more-articles_related-content-card

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