Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday, 12 December 2023

Climate Finance Definition ? A Rose by Any Other Name ?

 


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

As a whole , the total Carbon Dioxide emission by entire world , in 2022 , was 321 million tons , taking the accumulated emission to 36.8 Billion tons 

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 ?

    Look Before You Leap

     Is Sun setting on Solar ?

     Roof Top Solar : Better Alternative

     Transmission  Capacity is  the  Culprit  !

      This  was   Expected  !

      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 ! 

         Solar Power at Rs 1 per Kwh ?

          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 ]

      Ã˜  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.