Stable tax regime needed to attain renewable energy goals
- RUN-UP TO BUDGET 2023 | As of October 2022, India has achieved approximately 166 GW of installed RE, out of a targeted 175 GW India has been taking leaps to meet its target by measures such as issuing sovereign green bonds, allocation towards production-linked incentive schemes, deploying smart meters and increasing loan limits.
- Extend beneficial tax regime: Corporate income-tax rate of 15 per cent is available to companies who commence power generation by March 2024, which will not be available to new power projects.
- Hence, timeline should be extended for further five years, i.e., March 2029.
- Therefore, these rates should be rationalised.
- Other reforms a) Boost to green hydrogen: The world is moving towards ways to produce clean hydrogen.
Eco friendly industrialisation of Ladakh - Jammu Kashmir
- Ladakh is the ‘Crown of India’, with nature at its best, serenity and scenic beauty in abundance, and a gateway to paradise in the real sense.
- GoI and the local LG Administration are working overtime to develop Ladakh as a showcase for the whole world, with ultra-modern development but with zero carbon emissions.
- Road, bridges and tunnel network is being built for even inaccessible areas.
- But despite all the studies and skills employment avenues are limited still today.
- The world’s best wool Pashmina is one of the USP products of Ladakh.
- The administration is trying to utilise this rare quality, produce products on this very basis and market them in the whole world, value addition to the already established eco-friendly image of Ladakh.
Activist Sonam Wangchuk To Observe Five-Day Climate Fast From Jan 26
- New Delhi: Ladakh activist Sonam Wangchuk, who inspired the lead character in the film ‘3 Idiots’, said that he will start a five-day climate fast on January 26 to demonstrate the “power of the sun” and “sustainable carbon neutral technologies”.
- During his fast, he will be camping on top of the Khardungla at a height of 18,000 feet, where the temperature will be minus 40° Celsius.
- The carbon-neutral fast will see him use hot water and electricity generated using solar panels and, possibly, a solar bed. “
- The fast comes at a time #Wangchuk has been urging Prime Minister #narendramodi Modi to pay attention to the environmentally sensitive Ladakh, where studies suggest two-thirds of the glaciers are extinct.
- Inching closer to my #ClimateFast at #Khardungla 18,000 ft minus 40 °C starting 26th January…
BREAKTHROUGH! Indian researchers at Cambridge university offer solution to global warming and plastic pollution
- Two Indian researchers at Cambridge University have developed a system that can solve two of the biggest environmental problems, greenhouse gases and plastic waste.
- The research was done under the supervision of professor Erwin Reisner at the Reisner Lab.
- Co-author of the research, Rahaman noted that the reactor can help create products like syngas, formic acid and glycolic acid by converting carbon dioxide and plastic waste, as per NDTV.
- While Syngas is used to produce liquid fuels, Formic acid is used in leather and textile processing.
- Notably, greenhouse gases are responsible for global warming and climate change .
- A Stanford University study claimed that climate change has increased economic inequality between developed and developing nations by 25 per cent since 1960.
India's first green bond sale to command 'greenium' on strong demand
- The Indian government expects to issue its first at a 'greenium,' with yields below prevailing market rates, and has identified 400 billion rupees ($4.92 billion) in projects that can be funded with the proceeds, said two government sources.
- The government plans to raise 160 billion rupees through for the current fiscal ending March 31, with the first tranche of 80 billion rupees scheduled for auction on Wednesday.
- The proceeds would be used for 'green' projects such as solar power, wind and small hydro projects and other public sector projects that help reduce the economy's carbon footprint.
- The categories are based on priority and ratings according to a global framework.
- The interest and principal payments of the bonds are not conditional on the performance of the projects and investors do not bear any project-related risks, according to the framework released by the government in November.
