??The Climate Log - Edition #11 ??

11 January - 20 January 2025

??? TOP PICKS

??? WMO Chief Calls for Urgent Climate Action to Save Paris Agreement

? India’s GHG Emissions Drop by 7.93 percent

?? India launches?the Bharat Cleantech Manufacturing Platform

?? WEF’s Global Risks Report 2025 - Armed Conflict and Climate Change at the Top

?? GLOBAL PULSE

Three Indian Nuclear Entities Cleared by the US - Boost to India-US Nuclear Ties: US Lifts Nuclear Restrictions on Indian Entities: Days after USA’s National Security Adviser Jake Sullivan’s India visit, the United States has removed restrictions on three Indian nuclear entities: Bhabha Atomic Research Centre (BARC), Indira Gandhi Atomic Research Centre (IGCAR), and Indian Rare Earths (IRE). This decision is expected to enhance collaboration between the US and India in the civil nuclear field, addressing previous hurdles in the implementation of the India-US civil nuclear pact. The move is seen as a step towards strengthening cooperation in critical minerals and clean energy supply chains.

UAE Launches Groundbreaking Round-the-Clock Clean Power Project: The United Arab Emirates (UAE) has launched the world's first renewable energy facility capable of providing round-the-clock clean power. The project, announced at the Abu Dhabi Sustainability Week (ADSW) 2025, integrates 5.2 GW of solar capacity with 19 GW hours of storage to deliver 1 GW of baseload renewable energy. This initiative aims to address the challenge of renewable energy intermittency and ensure a continuous power supply. The project is a collaboration between Masdar and the Emirates Water and Electricity Company (EWEC).?

WMO Chief Calls for Urgent Climate Action to Save Paris Agreement: The World Meteorological Organization (WMO) Secretary-General Celeste Saulo has warned that the Paris Agreement is in grave danger. She emphasized the need for decisive climate action in 2025 to reduce greenhouse gases and accelerate the transition to renewable energy. Saulo highlighted that 2024 was the hottest year on record, with global temperatures reaching 1.55 degrees Celsius above pre-industrial levels. She stressed the importance of national meteorological and hydrological services in supporting the shift to renewables and adaptation strategies.?

BUDGET 2025 SPECIAL

Budget 2025: Key Expectations to Fuel India’s Path to 500 GW Non-Fossil Fuel Energy by 2030: India is aiming for a rapid green transition to reduce its reliance on fossil fuels and combat climate change, with a target of 500 GW of non-fossil fuel energy capacity by 2030. This includes expanding renewable energy sources like solar and wind, as well as fostering the growth of electric vehicles and battery storage. The upcoming Budget 2025 is seen as a key moment for the government to boost this transition. Experts have outlined several key expectations for India’s Budget 2025 to support this transition. Some of the critical expectations are -?

1. Tax incentives: Reduced interest rates on green investments, exemptions from capital gains tax, and tax benefits for companies involved in green technology and R&D.
2. Green energy financing: Introduction of concessional financing for hybrid solutions integrating wind, solar, and storage, and support for production-linked incentive (PLI) schemes to boost domestic manufacturing.
3. Renewable energy growth: Plans to enhance the renewable energy sector include mandatory battery storage for new renewable projects, investment support for battery storage initiatives, and a projected growth in storage capacity from 220 MW to 220 GW over five years.
4. Sustainable mobility: Encouraging the development of electric vehicles (EVs) through targeted measures for manufacturing and infrastructure expansion.
5. Climate taxonomy: Establishing a clear climate taxonomy to define sustainable investments and facilitate access to incentives.

??SECTORAL INSIGHTS

?POWER & ENERGY

India launches? the Bharat Cleantech Manufacturing Platform: On 10th January 2025, the Indian government launched the Bharat Cleantech Manufacturing Platform at the Bharat Climate Forum 2025. The Platform aims to strengthen India’s cleantech value chains in the solar, wind, hydrogen, and battery storage sectors and boost manufacturing. The forum aims to unify stakeholders from policy, industry, finance, and research to accelerate India's transition to sustainable manufacturing. The forum is expected to drive innovation, investment, and job creation in the clean tech sector. Find other details here.?

PM-Surya Ghar - New Models to Promote Residential Solar Systems: The Ministry of New and Renewable Energy (MNRE) has issued operational guidelines for the PM-Surya Ghar: Muft Bijli Yojana, a scheme aimed to promote the adoption of rooftop solar systems in the residential sector through innovative financing and implementation models. It introduces two models: the RESCO (Renewable Energy Service Company) model, where third-party entities invest in rooftop solar installations, and the Utility-Led Aggregation (ULA) model, where DISCOMs or state-designated entities install rooftop solar systems on behalf of households. A ?100 crore corpus fund has been allocated for the Payment Security Mechanism (PSM) to mitigate investment risks in RESCO-based grid-connected rooftop solar models.

India’s GHG Emissions Drop by 7.93 percent: As per the 4th Biennial Update Report (BUR-4) submitted by India to the United Nations Framework Convention on Climate Change (UNFCCC), the country reported a 7.93% reduction in greenhouse gas (GHG) emissions in 2020 compared to 2019. The report indicates that net emissions, including land use, land-use change, and forestry (LULUCF), stood at 2,437 million tonnes of CO2 equivalent (CO2e), while gross emissions were 2,959 million tonnes of CO2e, excluding LULUCF. The energy sector was the largest contributor, accounting for 75.66% of total emissions, while other land-use activities sequestered approximately 522 million tonnes of CO2, reducing the country’s total emissions by 22%. The report reflects India’s progress toward its climate goals under the Paris Agreement, which include achieving net-zero emissions by 2070, reducing carbon intensity by 45% by 2030, and achieving 500 GW of non-fossil fuel energy capacity by the same year

???? EV

Boosting EV Adoption: India's New Battery Swapping Guidelines: On 10th January 2025, the Ministry of Power proposed new guidelines aimed at boosting the battery swapping ecosystem for electric vehicles (EVs) in India. The guidelines provide a structured approach to implementing battery swapping infrastructure, addressing safety protocols, operational standards, and regulatory requirements. These guidelines include promoting battery swapping as an alternative method to power EVs, encouraging the adoption of the Battery as a Service (BaaS) model, and fostering the development of a comprehensive battery swapping ecosystem. The guidelines also allow operators to use existing electricity connections and deploy liquid-cooled swappable batteries for larger vehicles. Find the guidelines here.?

Global Study Finds High EV Adoption Rates: On 14th January 2025, Tata Consultancy Services (TCS) launched a global study, which found that 64% of consumers are likely or very likely to consider an electric vehicle (EV) for their next vehicle purchase. The study, titled TCS Future-Ready eMobility Study 2025, surveyed over 1,300 respondents across various countries, including the USA, Canada, UK, India, and more. While a significant portion of consumers showed interest in EVs, 60% cited charging infrastructure as a major challenge. Additionally, 56% of respondents were willing to pay up to USD 40,000 for an EV. Find the report here.?

??? CLIMATE RISKS, ECOLOGY, ENVIRONMENT AND PEOPLE

Climate Shocks Could Slash Economic Growth by Half: Institute and Faculty of Actuaries, University of Exeter has warned that economic growth could fall by up to 50% over the next 20 years due to climate shocks. The warning is based on the increasing frequency and severity of extreme weather events, which are expected to have significant impacts on global economies. The actuaries emphasize the urgent need for climate adaptation and mitigation measures to minimize these economic disruptions. Find the official report here.?

India State of Forest Report 2023 - Mixed Results on Forest Health: The India State of Forest Report 2023, released by the Forest Survey of India (FSI) has indicated a slight increase in forest cover, now at 21.76% of the country's geographical area, up from 21.71% in 2021. However, it also highlights concerns about forest degradation, with some states experiencing a decrease in forest cover. The report underscores the need for enhanced conservation efforts to?ensure improved forest ecosystem health.

WEF’s Global Risks Report 2025 - Armed Conflict and Climate Change at the Top: On 15th January 2025, the World Economic Forum released its annual Global Risks Report 2025, which identifies armed conflict and climate change as the most urgent global threats. The report, based on surveys from over 900 global risk experts, highlights that 23% of respondents consider state-based armed conflict as the top immediate risk, while 14% are concerned about extreme weather events. Other significant risks include biodiversity loss, misinformation, societal polarization, and cyber-espionage. Find the official report here.?

UNDDR-Climate Central Report - Wayanad Landslides Among 2024's Deadliest Climate Disasters: The United Nations Office for Disaster Risk Reduction (UNDRR) has identified the 2024 Wayanad landslides as one of the 26 extreme weather events caused by climate change. The landslides, triggered by torrential rains in Kerala's Wayanad region, resulted in over 350 deaths, numerous injuries, and thousands left homeless. The report emphasizes the significant influence of climate change on global weather patterns, exacerbating disasters and their consequences. It also highlights that climate change contributed to the deaths of at least 3,700 people and displaced millions in 2024.

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