Govind Tekale
Today the COP29 will end at Baku, capital of Azerbaijan. Brazil will host next year’s COP30. Many emerging economies have already made strong investments in renewable energy. According to international organizations including IRENA, the Global South possesses immense renewable energy resources, with estimates indicating it holds around 70% of the world’s renewable potential.
India said, ahead of COP29, that it would add a record amount of renewables this year. Meanwhile, China has increased its investment in clean energy technology by 23% in 2023. Climate change is the greatest environmental challenge of our time.
Nuclear power makes a significant contribution to climate change mitigation. All low-carbon technologies can partner with nuclear power for Net Zero. Nuclear Power (NP) can drive decarbonizing beyond electricity. Energy resilience, reliability and security can be built by NP. Affordability is achieved by NP. These are some of the proposals submitted to COP29 by IAEA (International Atomic Energy Agency).
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The COP29 is expected to finalize and announce its action plan on 22 Nov 2024 on the following topics: Climate finance, Emission reduction targets, and Global perspectives. The World Bank and European Investment Bank have pledged to increase climate-related lending to $120 billion annually for low- and middle-income countries. The Asian Development Bank has announced $7.2 billion in additional investments and a $3.5 billion adaptation program targeting glacial melt in Central Asia and the Southern Caucasus.
Rich nations oppose but the developing world sticks to $1.3 trillion/year demand. Meanwhile, no country has performed well enough in all four assessed categories to achieve a perfect score on CCPI (Climate Change Performance Index). China is the world’s biggest emitter. India stands at 10th rank, while Denmark is fourth in the list released by the 20th edition of CCPI. The list is compiled jointly by Germanwatch, New Climate Institute, and CAN International.In summary, the COP29 ends its deliberations on 22 November 2024 at Baku. The next COP30 will be hosted by Brazil. Rich nations oppose but the developing world sticks to $1.3 trillion/year demand. The list of CCPI gives India 10th place, while Denmark is at 4th place. No nation has achieved well enough in all four assessed categories to achieve a perfect score on CCPI. China continues to be the biggest emitter with the 50th rank of CCPI.
