Key Upshots:

• The finance minister has committed large funds to support the green energy industry.

• Funding will be made available to facilitate the purchase of biomass aggregation.

• The government wants to increase and improve its capacity to produce EVs.

Finance Minister Nirmala Sitharaman revealed in Budget 2024 a comprehensive plan targeted at reaching the country’s ambitious Net Zero target by 2070 to push India towards a greener future.

“Green Growth” was emphasized in the Union Budget 2024, which included the statement. Tech and science news simplified.

The government intends to make it mandatory to blend biogas with piped natural gas for home use and compressed natural gas (CNG) for transportation to significantly cut carbon emissions. It is anticipated that this strategy will support the circular economy by fostering the biogas sector and enhancing air quality.

The acquisition of biomass aggregation, which is necessary for the creation of bioenergy, will be supported financially. This move will probably incentivize farmers to join the bioenergy supply chain, which will result in the development of a viable and long-lasting strategy for managing agricultural waste.

EV Push: Tech News Updates In India:

There will be a big push to the electric vehicle (EV) ecosystem since the government plans to improve and bolster its infrastructure for producing and charging EVs. 

This is expected to hasten the nation’s EV adoption rate and lower transportation-related greenhouse gas emissions. Current news on environment.

The government is eager to support the wider use of electric buses, as this would help to lower urban pollution and encourage environmentally friendly public transportation.

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A new program centred on foundry and biomanufacturing is about to be introduced to encourage green growth and innovation in the biotechnology industry. It is anticipated that this program would change the paradigm of consumptive manufacturing from its current state to one based on regenerative principles, in line with the growing global sustainability movement.

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These extensive steps are intended to support India’s aggressive stance against climate change and its commitment to reaching net-zero carbon emissions by 2070.

UN climate chief’s direct message: To truly stop climate change, we need fewer loopholes and a lot more money. Latest Climate Change news.

BAKU: The head of the UN climate panel stated on Friday that to prevent global warming, countries should cut back on the number of loopholes in climate agreements and invest trillions of dollars annually in financial assistance for developing countries.

Latest climate change news, so you should not change your mind towards adopting renewable energy.

Unusually forthright, UN Climate Change Executive Secretary Simon Stiell termed past progress not nearly enough in a presentation at a university in Baku, Azerbaijan, the site of scheduled international climate negotiations later this year.

He claimed those may “quickly fizzle away into more empty promises” if not adequately funded.

Money is a major factor: USD 2.4 trillion is spent annually, according to Stiell. 

Technology environment in India which troubles many.

That’s the amount that developing countries, excluding China, are estimated to need to invest in renewable energy instead of dirtier fossil fuels to mitigate the effects of climate change, including heat waves, droughts, floods, and storms.

Richer countries have promised poor countries less than 5% of that total in financial assistance for climate change, and they frequently haven’t even delivered that much.

Technology environment in India is slammed by many.

“It’s already blazingly obvious that finance is the make-or-break factor in the world’s climate fight,” Stiell stated. “We need torrents – not trickles – of climate finance”. 

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Climate specialists from the United Nations emphasized that the next two years are vital for reducing climate change. The negotiations in Baku in 2024 will be followed by a significant meeting in Brazil in 2025, where countries will be expected to make new and stronger commitments to reduce emissions of all gases that trap heat.

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According to officials, money is a powerful motivator for taking action.

“The time has passed for business-as-usual in all aspects of the world’s climate fight,” Stiell stated.

Stiell delivered a rare but subdued critique following a brief celebration of the previous year’s climate accord, which said that fossil fuels cause global warming and that there is a need to “transition away” from their use in many situations.

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“Hiding behind loopholes in decision texts or dodging hard work ahead through selective interpretation would be entirely self-defeating for any government as climate impacts hammer every country’s economy and population” Steil narrated.

Stiell’s office refused to identify the specific flaws it was referring to. 

Technology environment in India which is replete with challenges.

The agreement from last year was criticized by scientists, activists, and small island nations that are most susceptible to the severe consequences of global warming for having what they called loopholes. Lead delegate from Samoa, Anne Rasmussen, denounced the agreement as “business as usual” and warned that it would make things worse rather than better.

To the dismay of the host United Arab Emirates’ oil executive president of the discussions, Stiell—a native of the precarious island nation of Grenada—sprung to his feet to cheer the Samoan’s grievance. 

Centre for Biological Diversity energy justice director Jean Su explained in December, “The problem with the text is that it still includes cavernous loopholes that allow the United States and other fossil fuel-producing countries to keep going on their expansion of fossil fuels,”

Su pointed out a “pretty deadly, fatal flaw” in the language that permits the use of “transitional fuels,” which is a euphemism for natural gas that emits carbon dioxide, to go on.

The concept that the weak language in the Dubai deal is “somehow seen as a triumph” indicates that the world is difficult, according to Joanna Depledge, a history of climate discussions at Cambridge University in England. 

It will take an Olympian effort over the next two years to put us on track to where we need to be in 2030 and 2050, Stiell observed. 

He suggested that the Olympic slogan of “faster, higher, and stronger” be adopted by climate negotiators.