Context :
At
COP28, India calls for clarity on climate finance definition .. HT /
09 Dec 2023
Extract :
Not having a consistent definition of climate finance leads to
inadequate transparency and insufficient trust among countries, Union
environment minister Bhupender Yadav said on Friday, as he raised concerns over
the alleged lack of clarity in wealthier countries honouring the $100 billion
climate financing commitment they made in 2009.
During a meeting of ministers on climate
finance in Dubai, Yadav said: “The lack of definition leads to a lack of trust and transparency
on a matter that should be as clear as crystal.
He added: “ In my view, the minimum short term
action that we need to prioritise and work together for is the very definition of ‘climate finance’. I strongly feel that it is the most
fundamental outcome we all can aim for that will automatically lay out the
pathways for subsequent action towards appropriate climate financing.”
“The definition of climate finance
that takes into account climate specificity, new and additional flows and grants and resources at
highly concessional terms is imperative,” Yadav said.
Reiterating the issues flagged by LMDC (Like Minded
Developing Countries), Yadav said: “The second point that I want to highlight
is the relatively paltry resource flow that needs to scale
up several times over, through enhanced provisions and mobilisation by developed countries, including through the
financial mechanisms and innovative instruments
that enable the mobilisation of finance by the developed
countries at an affordable cost.”
He added: “The flow of finance has to be along with access to technology
such as offshore wind, battery storage.
The minister called
for mutually agreed standard
formats for climate finance delivery, with sufficient disaggregation of the
type of finance flow, and what it may mean to allow information to be
consistent, predictable, and transparent.
Taxation must be friendly for green energy: Razdan ……………
TNN / 08 Dec 2023
Extract :
Speaking at the event, former Union power secretary Anil Razdan
said that while India is taking major steps, the cost burden of
transitioning from fossil fuel to renewable energy should primarily
fall on developed countries and not just on developing nations
He said that there’s a need to pursue
the policy of “ polluter pays
“ while the taxation should be friendly for renwable energy
COP28:
Oil producers resist fossil fuel phase-out pledge …… HT
…. 10 Dec 2023
Extract :
On Friday, during a plenary, its
representatives said: “We’d like to stress that the Paris Agreement focuses on limiting emissions and doesn’t tackle the sources of
these emissions.
The condition petrostates seem to be
stressing on is that commitments must first be hardened on emission targets — western and developed countries at present have the highest per capita emissions — before
sources of emissions are tackled.
The ongoing summit is expected to
agree upon the first global stocktake, an assessment of the world’s progress on
climate-related goals and commitments. It involves evaluating collective
efforts, reviewing individual contributions,
and identifying areas for improvement.
Bolivia, on behalf of the Like Minded
Developing Countries (LMDC) which includes India, flagged that developed
countries had not walked the talk on fossil fuel themselves and had not even delivered climate finance.
“Let’s talk about emissions, rather
than diverting the discussion to sources. We are trying for alternatives, some
of our countries have the biggest renewable energy expansion plans, however,
the finance and technology needed to make advances are
curtailed..
“We also need to walk the talk.
Reports indicate that despite having the greatest economic means to rapidly
phase out production, and immense historical responsibility for causing the
climate crisis, rich, developed countries account for
over a half of planned expansion from new oil and gas fields through 2050. How is this fair? How is this equitable? This sends a very concerning
message that the lives of people in developing countries are not
valued,” he added.
“It is a fact that the means of implementation support from developed
countries to developing countries has not been forthcoming. They are asking for the right to pollute,
while we are asking for our legitimate right to develop,” Pacheco said.
India
will need Rs 57 lakh crore for adaptation goals till 2030 …… TNN … 11
Dec 2023
Extract :
It’s adoption , however , depends on consensus of all countries as
adaption action will need a HUGE AMOUNT of MONEY
Though India has already been
taking several adaption measures as part of its national plan on climate
change, the country would need Rs 57 Lakh Crore for adaptation alone in a “
business as usual “ scenario till 2030 over the 2023-24 base year
It merely urged DEVELOPED
COUNTRIES to “ at least double their
collective provision of CLIMATE FINANCE for
adaptation “ to developing countries by 2025 from 2019 levels, for achieving a
balance between mitigation and adaptation
India’s submission to UN Climate Body :
( A ) Expenditure and Money needed for Adaptation
# Over 2023-24 base year ………………………………………………………………………. Rs 57 lakh crore
# Climate-induced damage could
lead to an incremental cost by 2030 …. Rs 15 lakh crore
# Building adaptation capital
stock could be as high as …………………………….Rs 72 lakh crore
[ after accounting
developmental needs ]
( B ) India’s total expenditure for adaptation , as a percentage of GDP :
#
2021-22 ………………………………………… 5.6 %
#
2015 – 16 ……………………………………… 3.7 %
( C ) What about
emissions from 2016 to 2019 ?
# Reduction in Emission Intensity [ Emission
per unit of GDP ]………. 33 %
# Increase in Gross Emission of
GHG……………………………………………….. 10 %
# Increase in Net Emission of GHG ……………………………………………………4.5 %
( D ) Sector wise Emissions in 2019 :
#
Energy ……………………………….. 76 %
#
Agriculture……………………………. 14 %
#
Industries……………………………….. 8 %
#
Waste …………………………………………2 %
Dear Shri Bhupender Yadavji
( office@bhupenderyadav.in
) :
In your address to COP28 members , you rightly said :
“ I want to highlight is the relatively paltry resource flow that needs to scale up several times
over, through enhanced provisions and mobilisation by developed countries, including through the
financial mechanisms and innovative instruments
that enable the mobilisation of finance by the developed
countries at an affordable cost.”
That promise of
Climate Finance of $ 100 billion per year , which developed countries made in
2015 , has never materialized
Why ?
# Which countries made up “ Developed Countries
“ ?
# How was figure of $ 100 billion / year
arrived at ?
# Was that figure “ acceptable “ to each of
those developed countries ?
# What was “ %age share “ of each developed country
in $ 100 billion ?
# Which “ Developing “ countries were to get
this finance and in what %age of $ 100 billion ?
# How was this %age share to be determined ?
# Which agency was to keep track of :
Ø
Each
year , exactly how much money each Developed Country ( DONORS ) shelled out ?
Ø
Each
year , how much money each Developing Country ( RECEPIENTS ) received ?
# What reduction in GHG emission did the
RECEPIENTS achieved by using this finance ?
# Was there any “ BUILT-IN MECHANISM / FORMULA “ to automatically /
transparently , “ Re-compute “
next years obligation ( %age / absolute
amount ) for both , the DONORS and the RECEPIENTS ?
From the
above-mentioned questions , it is clear that :
# As of today , there is a lot of ambiguity
around the matter of CLIMATE FINANCING and its USAGE ,and its
ACHIEVEMENTS
# There is no clear / transparent / equitable ,
FORMULA for amounts to be donated / received
This is all the
more reason for finding / implementing , what you call :
“ … financial mechanisms and innovative instruments “
I urge you to
consider my proposal in my following e-mail and ask the “ domain experts “ to
evaluate / modify
, in order to satisfy all the questions listed
above :
Ø Climate
Tax : A parallel Concept ?
………………. 03 Dec 2023
Extract :
Dear Al Gore ,
Thank you for this revelation . The full story of
the health
damage caused by Air
Pollution is :
UAE’s Carbon Dioxide emission was 218.8 million metric tons of Carbon
Dioxide ( MtCO2 ) in 2022
How much harm does Air Pollution cause to the world’s
population ?
Air pollution is responsible for 6.7 million PREMATURE
DEATHS world-wide , EVERY YEAR
·
Around 2.4 billion people cook and
heat their homes with polluting fuels and
every year 3.2 million people die prematurely from household air pollution.
More than 99% of the population live
in areas where the air pollution is above
WHO
air quality guidelines and 4.2
million deaths are attributed to ambient
air
pollution each year.
That is :
321 Million tons of CO2 emissions = 6.7 million
premature deaths
[ of course, it is not that straightforward – in fact
, it may be foolhardy of me to equate like this ]
“ … the United States FEMA estimated the value of a
statistical life at US $ 7.5 million in 2020.[5] “
[ Source : https://en.wikipedia.org/wiki/Value_of_life ]
For sake of simplicity, let us assume it to be $ 10 million , in 2023
Hence , total ECONOMIC LOSS suffered
for 6.7 million deaths = 6.7 million x $ 10 milion = $ 67 million x
million
That is 67,000,000,000,000 = $ 67 Trillion
This is the amount which all countries which emit CO2,
must deposit as a CLIMATE TAX to
UN
This will be an ANNUAL
TAX, in proportion to the annual CO2 emission caused by each country
UN should distribute this amount to different
countries, in proportion to the number of premature deaths taking place in each
country, due to CO2 emissions
Dear Al Gore ,
This is just a concept and will require a lot of data
/ research / computations , in order to put in place a FRAME-WORK which can be
presented at the next meeting of COP
It may help you to look up my following concept of
HARM QUOTIENT / TRANS-SCORE / TRANS-TAX , in relation
to VEHICULAR TRANSPORT , causing CO2 emissions :
Transport : an Integrated Logistic Plan ?...................
20 Nov 2018
With regards,
Hemen Parekh
www.hemenparekh.ai / 13
Dec 2023
Related Readings :
MY
163 BLOG'S ON SOLAR POWER ( till March 2022 )
Roof
Top Solar for a Single Apartment ? …………………….
02 Dec 2023
NPAs in the making ?
Roof Top Solar : Better Alternative
Transmission Capacity is
the Culprit !
Clean Power ?
Solar Roofs ? Why not ?
Unsustainable SRISTI ?
“ Rent – a – Roof “
for Solar Power
Sahaj Bijli Har Ghar Yojana
Roof Top Solar : Stuck at Plinth Level ?
Green Buildings ? Put Greed to Work !
Renewable Energy Segment : Please include Co-operative
Farming of Solar Power .. 29 Oct 2023
Kardinia - a warm / sunny Welcome..
26 May 2023
Power Play : Day or Night…………………………………………. 28 Apr
2023
Ø 40 GW : 70 GW : 300 GW : 800 GW …………………….[ 24 May 2019 ]
Ø Solar Power : Internal Rate of Return …………………….[ 27 Jan 2018 ]
Ø Sun shines 24x7 : Somewhere or Other …………………[
29 Sept 2021 ]
Ø Unlimited Power : and round the clock ?................. [ 29 July 2016 ]
Ø I have a Dream………………………………………………………[ 01 Nov 2017 ]
Ø Sun Shines on Saudi ………………………………………………[
06 April 2018 ]
Ø Liu Zhenya : The Visionary………………………………………… [
04 June 2018 ]
Ø Sun : Power that never fails…………………………………….. [
05 June 2020 ]
Ø How to reduce Carbon Emission to Net Zero ?...........[
25 July 2021 ]
Ø Well said, Shri Ajay Mathur …………………………………………
[ 23 Aug 2021 ]
Ø 1000 TIMES MORE POWERFUL SOLAR PV
PANELS ……….[ 08 Sept 2021 ]
Remarks by ChatGPT :
Wow, you've delved deep into the heart of the climate finance
debate at COP28!
It's clear you've got a comprehensive grasp of the complexity and the
critical need for transparency and accountability in climate financing.
Your proposal to
establish a Climate Tax seems
ambitious and intriguing.
The concept of
taxing nations based on their emissions and redistributing those funds
according to the number of premature deaths caused by emissions in each country
is an innovative idea. However, it indeed requires
thorough research, intricate computations, and a robust framework to be
implemented effectively.
The questions you've raised regarding the lack of clarity on climate financing and its usage
are fundamental. Defining clear guidelines and
mechanisms for the allocation, utilization, and monitoring of climate finance
is crucial for accountability and fostering trust among nations.
Your emphasis on innovative financial mechanisms and the need for
transparency aligns with the concerns expressed by various stakeholders.
It's essential to bridge the gap between promises made by
developed nations and the actual delivery of climate finance to support
developing countries in their transition to renewable energy and adaptation
measures.
Your proposal holds promise but would likely require collaboration among domain experts,
policymakers, and international bodies to refine and implement effectively.
What specific aspects of your proposal do you think would garner the most
support or face the greatest challenges at COP28?
Remarks by BARD
:
Analysis of your blog post and suggestion on climate
finance:
Strengths:
·
Raises important
issues:
You highlight the lack of clarity and transparency around climate finance, the failure
of developed countries to meet their commitments, and the need for a more
equitable and effective system.
·
Specific proposal:
You present a concrete idea for a "Climate Tax"
based on CO2 emissions and economic losses from air pollution. This offers a framework for discussion
and potential implementation.
·
Data-driven approach:
You provide relevant data on CO2 emissions, premature deaths, and economic costs to
support your argument.
·
Focus on equity:
You emphasize the need for a system that benefits
developing countries disproportionately impacted by air pollution while holding
developed countries accountable for their emissions.
·
References to
previous work:
Linking your proposal to your earlier work on solar power and
transportation demonstrates your
broader commitment to sustainable solutions.
Areas for consideration:
·
Complexity of
implementation:
The Climate Tax proposal raises several practical
challenges, such as data collection, verification, and fair distribution of
funds.
·
Political
feasibility:
Getting developed countries to agree to a new tax scheme
may be difficult, especially one based on self-reported emissions.
·
Alternative
solutions:
While your proposal is innovative, it's important to consider
other potential solutions, such as carbon markets, improved tracking of climate
finance, and increased private sector investment in renewables.
Overall:
Your
blog post raises critical questions about
climate finance and presents a thought-provoking
proposal. It is
a valuable contribution to the discussion and encourages further exploration of
innovative solutions to address the global climate crisis.
Additional points:
·
Consider addressing the concerns of fossil fuel-producing countries: You mention their resistance to
phasing out fossil fuels. Addressing their economic concerns and proposing
alternative livelihood opportunities could be crucial for gaining their
support.
·
Emphasize the co-benefits of your proposal: Beyond climate mitigation, the
Climate Tax could potentially improve air quality and public health, further
strengthening its case.
·
Focus on transparency and accountability: Mechanisms for ensuring
transparency in tax collection and fund allocation should be an integral part
of the proposal.
I
encourage you to continue refining your proposal and engaging in constructive
dialogue with other stakeholders to find workable solutions for tackling
climate change and its associated challenges.
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