The United States is facing severe winter storms as the polar vortex is expanding southward from the Arctic and driving temperatures as low as -50°C (-60°F).
What is a Polar Vortex?
The polar vortex is a band of fast-moving air that traps cold Arctic air within the Polar Regions.
It is a natural atmospheric phenomenon, typically spinning in a counter-clockwise direction around the North Pole.
Wind speeds in the polar vortex can reach up to 250 km/h (155 mph).
Causes of a Polar Vortex:
Stable State: Under normal conditions, the polar vortex remains strong and well-contained within the Arctic Circle, keeping frigid air confined to the Polar Regions.
Weakened State:
The vortex weakens when rising warm air from the lower atmosphere disrupts its circular flow, allowing Arctic air to spill southward.
Factors contributing to a weakened state include: Significant weather patterns (e.g., powerful winds in mountainous regions); Changes in tropical climate systems or sea surface temperatures. Climate change causing uneven warming, especially at the poles..
What are its types?
Tropospheric Polar Vortex:
It occurs in the lowest atmospheric layer (troposphere) where most weather phenomena take place.
Typically results in milder weather across northern latitudes.
Stratospheric Polar Vortex:
Forms 16–48 km above the Earth’s surface in the Stratosphere.
Stronger and more stable but can weaken due to disruptions, leading to southward extensions of Arctic air.
It emerges in autumn and dissipates by spring each year.
Several major US banks have recently withdrawn from the Net-Zero Banking Alliance (NZBA), raising concerns about the banking sector’s commitment to combating climate change.
What is Net-Zero Banking Alliance (NZBA)?
Established as a bank-led, UN-convened initiative, the NZBA commits members to align their lending, investment, and capital market activities with achieving net-zero greenhouse gas (GHG) emissions by 2050.
It is a part of the UNEP Financial Initiative’s Principles for Responsible Banking, serving as a climate accelerator.
NZBA retains 142 members from 44 countries, with 80 European banks representing the majority of the alliance’s $64 trillion in assets.
No Indian banks are signatory to this NZBA.
Structural Mandate:
Overseen by a Steering Group representing diverse geographies and business models.
Supported by the UNEP FI Secretariat and governed under documents updated in August 2023 and March 2024.
Commitments of Member Banks:
Transition operational and portfolio emissions to align with net-zero pathways.
Set 2030 targets (or sooner) within 18 months of joining and establish intermediate targets every five years.
Publish annual reports on absolute emissions and emissions intensity.
What is the Net-Zero Greenhouse Gas (GHG) Emissions Target by 2050?
Net-zero greenhouse gas (GHG) emissions by 2050 refer to achieving a balance between the amount of GHGs emitted into the atmosphere and the amount removed or offset by natural or technological means.
This target is critical for limiting global warming to 1.5°C above pre-industrial levels, as outlined in the Paris Agreement.
About the Glasgow Financial Alliance for Net Zero (GFANZ)
The GFANZ is a global coalition of leading financial institutions committed to accelerating the transition to a net-zero economy and achieving net-zero GHG emissions by 2050.
It was established in April 2021 in the lead-up to the COP26 climate summit in Glasgow.
Membership comprises over 550 financial institutions across 50 countries.
Includes banks, insurers, asset managers, and other financial players managing a combined $150 trillion in assets.
It is chaired by Mark Carney, former Governor of the Bank of England and current UN Special Envoy for Climate Action and Finance.
It is supported by global initiatives like the UN Race to Zero campaign and other financial alliances.
PYQ:
[2016] The term ‘Intended Nationally Determined Contributions’ is sometimes seen in the news in the context of:
(a) Pledges made by the European countries to rehabilitate refugees from the war-affected Middle East.
(b) Plan of action outlined by the countries of the world to combat climate change.
(c) Capital contributed by the member countries in the establishment of the Asian Infrastructure Investment Bank.
(d) Plan of action outlined by the countries of the world regarding Sustainable Development Goals.
In India, current carbon credit projects by private organisations should be reviewed to ensure they are fair and work effectively.
What are the current carbon credit projects?
Collaborative Initiatives: NABARD, ICAR, and State Universities have listed five agricultural carbon credit projects in the Verra registry to promote sustainable agriculture.
Carbon Farming Projects: Over 50 projects targeting 1.6 million hectares aim to generate 4.7 million carbon credits annually, but none are registered, leaving farmers without financial benefits.
Note: Verra is a carbon credit registry that manages the Verified Carbon Standard (VCS), ensuring high-quality carbon credit projects and facilitating transparent trading of carbon credits.
What are the key challenges facing agricultural carbon markets?
Lack of Communication and Training: A significant portion of farmers (45%) reported inadequate communication regarding carbon farming practices, and over 60% lacked training in new techniques. This gap in knowledge can hinder the effective implementation of sustainable practices necessary for generating carbon credits.
Exclusion of Marginalized Communities: Many existing carbon farming projects have not adequately included smallholders and marginalized communities, with women representing only 4% of participants. This lack of inclusivity limits the socioeconomic benefits that carbon markets could provide to a broader segment of the farming population.
Financial Incentives: A notable 28% of farmers discontinued sustainable practices by the second year due to insufficient financial incentives. The absence of timely payments for carbon credits further discourages participation and undermines project sustainability.
Unregistered Projects: Despite over 50 agricultural carbon farming projects being listed in the Verra registry, none have been officially registered, meaning no carbon credits have been issued and farmers have not received any financial compensation.
Quality Assurance: Ensuring that projects deliver reliable environmental benefits is crucial. If projects fail to produce credible carbon credits, it may lead to a loss of confidence among buyers, which would ultimately deprive farmers of income and discourage sustainable practices.
How can farmers be incentivized to participate in carbon markets?
Higher Prices for Inclusive Projects: Offering premium prices for carbon credits from projects that actively include smallholders and marginalized communities can encourage broader participation and ensure equitable benefits.
Effective Communication and Training Programs: Establishing robust communication channels and providing regular training on sustainable agricultural practices will empower farmers to adopt new techniques confidently.
Guaranteed Timely Payments: Implementing a system that ensures farmers receive prompt payments for their carbon credits will enhance trust in the market and encourage ongoing participation in sustainable practices.
Collaboration with Research Institutions: Partnering with national and international research organizations can help identify suitable regions for carbon farming, ensuring that interventions are effective and do not compromise food security.
Bundling Small Farmers into Cooperatives: Creating Farmer Producer Organizations (FPOs) can help reduce transaction costs, improve bargaining power, and facilitate easier access to carbon markets for smallholder farmers.
What role do technological advancements play in enhancing agri-carbon markets?
Improved Measurement Techniques: Advances in digital technologies such as remote sensing, satellite imagery, drones, and sensors will enhance the monitoring, reporting, and verification (MRV) processes essential for assessing soil carbon levels and GHG emissions accurately.
Data Accessibility: The increasing availability of technology will allow farmers to access real-time data on their farming practices, enabling them to make informed decisions that align with sustainable methods required for carbon credit generation.
Enhanced Project Implementation: Technology can streamline project management by facilitating better communication between stakeholders, tracking progress, and ensuring compliance with additionality and permanence criteria necessary for successful carbon credit projects.
Scalability of Projects: Digital tools can help scale successful carbon farming initiatives by providing frameworks that can be replicated across different regions, thus expanding the reach of agricultural carbon markets in India.
Way forward:
Strengthen Inclusivity and Farmer Incentives: Promote inclusive projects that actively engage smallholders and marginalized communities by offering premium prices for carbon credits, ensuring timely payments, and bundling farmers into cooperatives for better market access.
Leverage Technology for Efficiency: Utilize advanced digital tools like remote sensing and real-time data systems to improve monitoring, reporting, and verification (MRV) processes, enhance project scalability, and ensure effective implementation of carbon credit initiatives.
Mains PYQ:
Q Should the pursuit of carbon credits and clean development mechanisms set up under UNFCCC be maintained even though there has been a massive slide in the value of a carbon credit? Discuss with respect to India’s energy needs for economic growth.. (UPSC IAS/2014)
The Arctic Tundra, a frozen treeless biome, has traditionally served as a carbon sink, storing vast amounts of carbon for thousands of years.
However, recent changes in this ecosystem are turning it into a source of greenhouse gases (GHGs), primarily carbon dioxide (CO2) and methane (CH4) according to National Oceanic and Atmospheric Administration (NOAA).
What is Arctic Tundra?
Arctic Tundra is cold, treeless biome located in the northernmost regions of Earth, primarily within the Arctic Circle.
Climate:
Experiences long, harsh winters and short, cool summers.
Temperatures range from -28°C in winter to 3°C in summer.
Ground is permanently frozen, restricting plant root growth and shaping the ecosystem.
Experiences 24-hour daylight in summer and long polar nights in winter.
Biodiversity and Vegetation:
Limited to low-growing vegetation like mosses, lichens, grasses, and small shrubs, adapted to short growing seasons.
Hosts animals like Arctic foxes, polar bears, caribou, and migratory birds, though overall biodiversity is low.
Adaptations:
Animals: Thick fur and fat layers in species like polar bears to survive extreme cold.
Plants: Shallow roots for quick nutrient absorption during short summers.
How does the Arctic Tundra store Carbon?
The Arctic tundra stores carbon primarily through a process where plants absorb carbon dioxide (CO2) from the atmosphere via photosynthesis.
This carbon gets trapped in the soil and organic matter (plants and animals) that accumulate over time.
The cold Arctic climate slows the decomposition of plant and animal remains, meaning that organic materials, including carbon, remain locked in the permafrost.
This permafrost acts as a natural storage system, preventing CO2 from being released back into the atmosphere.
Scientists estimate that the Arctic tundra holds about 1.6 trillion metric tonnes of carbon, which is roughly double the amount of carbon in the Earth’s atmosphere.
Why is the Arctic Tundra emitting more carbon than absorbing it?
Rising temperatures in the Arctic are causing the permafrost to thaw at an accelerated rate.
When permafrost thaws, microbes in the soil become active, breaking down the organic material trapped in the frozen ground, which results in the release of carbon dioxide (CO2) and methane (CH4), two potent greenhouse gases.
The Arctic has been warming at a rate four times faster than the global average.
2024 was the second-warmest year on record for the region, contributing significantly to the thawing of the permafrost.
Wildfires in the Arctic have become more frequent and intense, further accelerating the thawing of permafrost. Wildfire smoke also contributes to the release of greenhouse gases.
Between 2001 and 2020, the combination of rising temperatures and increased wildfires led to the Arctic tundra releasing more carbon than it absorbed, marking a significant shift in its role from a carbon sink to a carbon emitter.
PYQ:
[2012] Climate is extreme, rainfall is scanty and the people used to be nomadic herders. The above statement best describes which of the following regions?
A recent study suggests that the Arctic Ocean may experience its firstice-free day—where sea ice falls below one million square kilometres—by 2030, or even sooner.
Key Highlights of the Study
First Ice-Free Day Prediction: The study predicts that the Arctic Ocean could experience its first ice-free day (less than one million square kilometres of sea ice) by 2030, or even sooner, depending on climatic conditions.
Simulations and Models:
11 different climate models were used to run 366 simulations from 2023 to 2100 to assess the future of Arctic sea ice.
Most simulations predict the ice-free day within 7 to 20 years, with some models suggesting it could happen as early as September 2027.
Conditions for Ice-Free Day: The occurrence of an ice-free day will depend on a combination of unusually warm seasons and stormy weather, which accelerates the melting of the sea ice.
Impact on Sea Ice: Once the first ice-free day occurs, it could be followed by an ice-free period lasting between 11 to 53 days, potentially leading to the first ice-free month.
How does the Arctic Tundra store Carbon?
The Arctic tundra stores carbon primarily through a process where plants absorb carbon dioxide (CO2) from the atmosphere via photosynthesis.
This carbon gets trapped in the soil and organic matter (plants and animals) that accumulate over time.
The cold Arctic climate slows the decomposition of plant and animal remains, meaning that organic materials, including carbon, remain locked in the permafrost.
This permafrost acts as a natural storage system, preventing CO2 from being released back into the atmosphere.
Scientists estimate that the Arctic tundra holds about 1.6 trillion metric tonnes of carbon, which is roughly double the amount of carbon in the Earth’s atmosphere.
Why is the Arctic Tundra emitting more carbon than absorbing it?
Rising temperatures in the Arctic are causing the permafrost to thaw at an accelerated rate.
When permafrost thaws, microbes in the soil become active, breaking down the organic material trapped in the frozen ground, which results in the release of carbon dioxide (CO2) and methane (CH4), two potent greenhouse gases.
The Arctic has been warming at a rate four times faster than the global average.
2024 was the second-warmest year on record for the region, contributing significantly to the thawing of the permafrost.
Wildfires in the Arctic have become more frequent and intense, further accelerating the thawing of permafrost. Wildfire smoke also contributes to the release of greenhouse gases.
Between 2001 and 2020, the combination of rising temperatures and increased wildfires led to the Arctic tundra releasing more carbon than it absorbed, marking a significant shift in its role from a carbon sink to a carbon emitter.
Why does it matter?
Climate Change Acceleration: The loss of sea ice will amplify the Albedo effect, causing the Arctic region to absorb more sunlight and heat, which will accelerate global warming and trigger extreme weather events in mid-latitudes.
Rising Sea Levels: The loss of Arctic ice contributes to sea level rise, with potential long-term impacts on coastal populations and ecosystems, particularly if the Greenland ice sheet melts completely, which could raise sea levels by 6 meters.
Ecosystem and Species Impact: The melting of sea ice will threaten species that rely on the ice for habitat, such as polar bears, walruses, and reindeer, disrupting the Arctic food chain.
Human and Infrastructure Threats: Arctic communities and their infrastructure are at risk as the region warms at four times the global average, threatening the livelihoods of people living in these areas.
Back2Basics: Albedo Effect
It refers to the measure of how much sunlight is reflected by a surface.
It is expressed as a percentage; a surface with a high albedo reflects more sunlight, while a surface with a low albedo absorbs more.
Light-colored surfaces like ice and snow have high albedo, reflecting most of the sunlight, whereas dark surfaces like oceans and forests have low albedo, absorbing more heat.
PYQ:
[2022] Discuss global warming and mention its effects on the global climate. Explain the control measures to bring down the level of greenhouse gases which cause global warming, in the light of the Kyoto Protocol, 1997.
[2012] The increasing amount of carbon dioxide in the air is slowly raising the temperature of the atmosphere because it absorbs:
(a) the water vapour of the air and retains its heat
(b) the ultraviolet part of the solar radiation
(c) all the solar radiations
(d) the infrared part of the solar radiation
PYQ Relevance: Q) Describe the major outcomes of the 26th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). What are India’s commitments at this conference? (UPSC CSE 2021)
Mentor’s Comment: UPSC Mains have focused on India’s changing policy towards climate change (2022) and COP26 (2021).
The recent UN Climate Change Conference (COP29) held in Baku, Azerbaijan, concluded with significant yet contentious outcomes, particularly regarding the New Collective Quantified Goal (NCQG) for climate finance. This editorial reflects on the implications of the NCQG and the broader context of climate negotiations.
This editorial content can be used to present the significance of ‘Climate finance for developping countries’ and the challenges associated at Global stage.
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Let’s learn!
Why in the News?
COP29 dubbed the “Finance COP,” was expected to deliver an ambitious outcome on the NCQG (New Collective Quantified Goal on Climate Finance). However, it fell short by neglecting equitable burden-sharing and climate justice, overlooking the financial needs of the Global South.
Why do the Developing countries need Finance for climate change?
Upfront Costs of Clean Technologies: Renewable energy technologies often have high upfront costs, which require government support to make them affordable to consumers, especially in developing countries.
Long-term Benefits but High Initial Investment: While renewable technologies have lower long-term operational and fuel costs, the high initial investment remains a significant barrier.
Financial Gaps and Urgency: Developing countries need urgent upscaling of finance to meet transformational goals. The pressure on government resources is compounded by the need for fiscal prioritization toward development activities.
Debt Issues and Risk: High debt burdens in developing countries prevent them from accessing affordable capital, making it difficult to incentivize private investment in green technologies.
High Cost of Capital: Developing countries face much higher lending rates, limiting their ability to access financial markets at favourable rates for climate action.
International Support Needed: Finance from developed countries, particularly in the form of public grants instead of loans, is essential to support the transition to green energy in developing nations.
What are the roles of the NCQG (New Collective Quantified Goal on Climate Finance)?
Origins and Rationale: The NCQG was designed to address the shortcomings of previous climate finance pledges, including the $100 billion annual commitment made at Cancun in 2010. The NCQG aims to establish clearer, more accountable climate finance goals.
NCQG aims to establish a new financial target post-2025 to support developing countries, succeeding the $100 billion annual commitment from developed nations.
Addressing Climate Finance Gaps: NCQG seeks to bridge climate finance gaps by ensuring both the quantity and quality of financial instruments meet developing nations’ needs.
By setting a collective goal, NCQG promotes trust and cooperation among nations to effectively implement the Paris Agreement.
Catalyzing Private Investment: NCQG encourages private sector investment by signalling stability and commitment to climate finance.
Supporting Climate Resilience: The goal help developing countries adapt to climate impacts and transition to low-carbon economies with necessary funding.
Upholding Principles of Equity: NCQG is grounded in Common but Differentiated Responsibilities (CBDR), ensuring tailored support for developing countries based on their specific needs and capacities.
What are the challenges?
Financial Needs of Developing Countries: The UNFCCC’s Second Needs Determination Report estimated that $5 trillion to $7 trillion would be required by 2030 to meet the needs of 98 developing countries. Developing nations have requested $1.3 trillion annually by 2030.
Disappointing Outcome at COP29: Developed countries agreed to a $300 billion annual commitment by 2035, which is seen as insufficient compared to the needs of the developing world. This amount does not represent a significant shift in financial flows and falls short of transformative action.
Lack of Commitment to Climate Justice: The NCQG falls short in terms of equitable burden-sharing, failing to adequately recognize the financial needs of the global south and climate justice.
Way forward:
Increase Financial Commitments: Developed countries must significantly enhance their financial commitments, moving beyond the $300 billion annually agreed at COP29, and align with the $1.3 trillion requested by developing nations to meet urgent climate goals.
Ensure Equitable Burden-Sharing: Future climate finance discussions must prioritize climate justice, adhering to the principles of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), ensuring that developed countries take on a larger share of the financial burden.
Focus on Grants over Loans: Developed countries should provide more finance in the form of public grants rather than loans, addressing the debt burdens of developing countries and enabling them to invest in green technologies without further exacerbating fiscal constraints.
The first week of the COP29 summit in Baku ended without major progress, as stark divisions between developed and developing nations hindered agreements on climate finance, trade measures, and equitable climate responsibilities.
What is a COP meeting?
Establishment and Early Meetings: The COP was established in 1995 following the adoption of the UNFCCC in 1992 at the Earth Summit in Rio de Janeiro. The first COP (COP1) took place in Berlin, Germany, where parties began to negotiate binding commitments to reduce greenhouse gas emissions.
This initial meeting set the stage for subsequent negotiations and agreements, including the Kyoto Protocol in 1997, which established legally binding targets for developed countries to reduce emissions.
Evolving Focus and Agreements: Over the years, COP meetings have evolved to address not only mitigation strategies but also adaptation, finance, and technology transfer to developing countries.
The landmark Paris Agreement was adopted at COP21 in 2015, establishing a global framework for climate action with commitments from all countries to limit global warming to well below 2 degrees Celsius.
What is the status of climate finance commitments from developed countries?
Unmet Financial Pledges: Developed countries have failed to fulfill the $100 billion annual climate finance goal set in 2009, leading to growing frustration among developing nations.
Loans Dominate Finance: Nearly 70% of climate finance provided so far is in the form of loans, creating a debt burden for vulnerable economies.
Demand for $1.3 Trillion Annually: The G-77/China bloc has called for a significant increase in climate finance to $1.3 trillion annually, with a focus on grants and concessional funding instead of debt-inducing mechanisms.
Equity in Climate Finance: Developing nations demand accountability and emphasize that climate finance should address both mitigation and adaptation needs equitably.
How will the Mitigation Work Programme (MWP) support developing countries?
Capacity Building: The MWP aims to enhance the capabilities of developing countries to implement Nationally Determined Contributions (NDCs) effectively.
Technology Transfer: A robust technology implementation program with dedicated financial backing is proposed to ensure equitable access to climate technologies.
Adaptation Finance: The MWP includes provisions for scaling up financial resources to assist countries in adapting to climate impacts, especially for those most vulnerable.
Equity in Responsibility: The MWP aligns with the principle of “common but differentiated responsibilities” (CBDR), ensuring that mitigation efforts consider historical emissions and current capacities.
What measures will be taken to address unilateral trade actions impacting developing nations? (Way forward)
Criticism of CBAM: Developing nations, including India and Bolivia, criticized the European Union’s Carbon Border Adjustment Mechanism (CBAM), which they view as a discriminatory trade barrier violating equity principles.
Call for Equity: Developing nations argue that CBAM shifts the burden of climate action to economies with minimal historical emissions, impacting industrial growth and development.
Opposition to External Regulations: India emphasized that mitigation measures must align with NDCs and national sovereignty, opposing attempts to impose external climate regulations.
Collaboration Against Trade Barriers: The BASIC bloc, AOSIS, and the Arab Group are working together to resist measures like CBAM and push for trade policies that consider the needs of the Global South.
Reforms in Multilateral Financial Systems: Countries like South Africa advocate for multilateral reforms to ensure fairer financial systems and debt relief for vulnerable economies.
Mains PYQ:
Q Describe the major outcomes of the 26th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). What are the commitments made by India in this conference? (UPSC IAS/2021)
At the COP29 climate summit in Baku, Azerbaijan, the adoption of Article 6.4 of the Paris Agreement has paved the way for global carbon trading under UN supervision.
This new development allows UN member countries to trade carbon credits globally.
What is Article 6.4?
Article 6.4 of the Paris Agreement establishes a global carbon market to facilitate carbon credit trading between countries.
It is part of Article 6, which outlines mechanisms for international cooperation in achieving net-zero emissions.
Objective: Enable countries to offset their emissions by investing in emission reduction projects in other countries.
It establishes a global carbon market overseen by a UNFCCC SupervisoryBody.
This body would develop rules, monitors credit issuance, and ensures compliance with international standards.
It allows countries to generate and trade Emission Reduction Credits (ERCs), which represent reductions in CO₂ or equivalent greenhouse gases.
Credits are earned from approved climate projects and can be traded globally.
Through subsections like Article 6.2, countries can use ITMOs (Internationally Transferred Mitigation Outcomes) to meet their NDCs, which are tradeable units representing emissions reductions.
Significance of Article 6.4
Cost-Effective Climate Action: By enabling global carbon markets, Article 6.4 could save an estimated $250 billion annually in implementing climate plans, providing a cost-efficient path to emission reductions.
Support for NDCs: The mechanism helps countries meet their NDC targets under the Paris Agreement, allowing more flexibility and incentivizing investments in green projects worldwide.
Economic Growth and Climate Mitigation: Carbon markets foster investments in clean energy, create jobs in climate-focused sectors, and link economic growth with climate action.
Encourages Sustainable Development: Article 6.4 incentivizes sustainable projects in developing countries, promoting green technology transfer and supporting local economies.
Types of Carbon Credit Projects under Article 6.4
Emission Reduction Projects
Energy Efficiency Improvements: Reducing energy consumption (e.g., efficient lighting, better insulation).
Renewable Energy: Replacing fossil fuels with solar, wind, or hydroelectric power.
Emission Removal Projects
Reforestation and Afforestation: Increasing forest cover to absorb CO₂.
Soil Carbon Sequestration: Storing carbon in soil through agricultural practices.
Carbon Storage Projects
Geological Storage: Storing CO₂ in deep underground formations.
Biochar Production: Locking carbon in biochar, enhancing soil fertility.
Technological Carbon Capture and Storage (CCS)
Direct Air Capture: Capturing CO₂ from the air and storing it underground or using it industrially.
Ocean-Based Solutions: Enhancing ocean CO₂ absorption, such as through algae cultivation.
Issues with Article 6.4
Carbon Offsetting Criticisms: Critics argue that offsetting doesn’t reduce global emissions but shifts responsibility, allowing countries to continue emitting while claiming neutrality.
Carbon Accounting Challenges: Unreliable carbon accounting can lead to “phantom credits,” where emissions reductions are overstated or inaccurately recorded, failing to match actual reductions.
Greenwashing Risks: Some countries and companies may use carbon credits as a form of greenwashing, claiming carbon neutrality while continuing to pollute.
Equity and Climate Justice Concerns: Developing nations, which contribute less to global emissions, are the most vulnerable to climate impacts.
Potential for Reversal Risks: Projects that store carbon in natural reservoirs risk releasing it back into the atmosphere. Some standards allow projects to end monitoring if reversal risk is considered “negligible,” which remains undefined and problematic.
PYQ:
[2011] Regarding “carbon credits”, which one of the following statements is not correct?
(a) The carbon credit system was ratified in conjunction with the Kyoto Protocol.
(b) Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quota.
(c) The goal of the carbon credit system is to limit the increase of carbon dioxide emission.
(d) Carbon credits are traded at a price fixed from time to time by the United Nations Environment Programme.
Q) Describe the major outcomes of the 26th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). What are the commitments made by India in this conference? (UPSC CSE 2021)
Q) Do you think India will meet 50 percent of its energy needs from renewable energy by 2030? Justify your answer. How will the shift of subsidies from fossil fuels to renewables help achieve the above bjective? Explain. (UPSC CSE 2022)
Q) Explain the purpose of the Green Grid Initiative launched at the World Leaders Summit of the COP26 UN Climate Change Conference in Glasgow in November 2021. When was this idea first floated in the International Solar Alliance (ISA)? (UPSC CSE 2021)
Mentor’s Comment:At COP28, 63 countries pledged to reduce cooling emissions by 68% by 2050 through the Global Cooling Pledge. Hence, expanded commitments are necessary at COP29 to enhance participation in global cooling initiatives and strengthen partnerships across sectors.
Today’s editorial emphasizes the critical role of international cooperation in developing sustainable cooling technologies to combat climate change. It underscores the importance of collaboration among nations to develop clean technologies that not only address immediate cooling needs but also contribute to long-term sustainability goals.
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Let’s learn!
Why in the News?
The recent international agreements and initiatives, such as the Wilmington Declaration by the Quad nations and commitments made at COP28 focuses on the urgent need for sustainable cooling technologies in the context of global warming and climate change.
Key Initiatives and Collaborations taken by countries:
•Wilmington Declaration: Issued by the Quad nations (Australia, India, Japan, and the U.S.) on September 21, 2024. It focuses on sustainable energy solutions with an emphasis on high-efficiency cooling systems. •Montreal Protocol and Kigali Amendment: The Kigali Amendment, adopted in 2016, aims to phase down hydrofluorocarbons (HFCs), potent greenhouse gases commonly used in refrigeration and air conditioning. Initiatives like the Kigali •Cooling Efficiency Program (K-CEP) provide technical support and capacity building for countries, particularly those in the developing world. •U.S.-India Partnership: India has committed to significant investments in solar and cooling infrastructure in the Indo-Pacific region. Joint plans include expanding manufacturing capacities for energy-efficient air conditioners and ceiling fans.
What were the key Commitments from COP28? •On Energy Transition Goals: Countries committed to double the global average annual rate of energy efficiency improvements by 2030. A goal was set to triple global renewable energy capacity to 11,000 GW by 2030. •On Global Stocktake (GST): The first GST assessed progress towards the Paris Agreement, emphasizing the need for significant reductions in fossil fuel consumption by 2050. • On Loss and Damage Fund: An agreement was reached to establish a Loss and Damage Fund with initial contributions of about $800 million to support vulnerable nations affected by climate change. •On Methane Emissions Reduction: Countries committed to reducing global methane emissions by 30% from 2020 levels by 2030, with new regulations introduced by several nations. While no complete fossil fuels phase-out was agreed upon, discussions included calls for the gradual elimination of inefficient fossil fuel subsidies. •On Sustainable Agriculture Initiatives: Nearly 160 nations signed a declaration to integrate food systems into their Nationally Determined Contributions (NDCs) by 2025. Around $12.8 billion was pledged to the Green Climate Fund to support developing nations in their climate efforts.
Significance of Global Collaborations for Clean Technologies
Accelerating Innovation: Countries can combine their scientific knowledge, leading to faster advancements in clean technologies.
Collaborative efforts can attract funding and resources, speeding up the development of critical solutions.
Addressing Global Challenges: Coordinated responses are essential for tackling climate change effectively, as seen with initiatives like the Global Cooling Pledge.
International partnerships help establish common standards, facilitating trade and effective implementation of technologies.
Economic Growth: Investing in clean technologies creates new industries and job opportunities, driving economic growth.
Supporting Developing Economies: Involving diverse stakeholders ensures that solutions are accessible and meet the needs of vulnerable populations and their capacity building.
What role do emerging markets play in the global cleantech landscape?
Growing Energy Demand: Emerging markets are expected to account for 90% of global energy demand growth by 2035, making them crucial for shaping future energy consumption.
Decarbonization Efforts: These markets contribute about 75% of global carbon emissions, highlighting the need for sustainable practices to achieve climate goals.
Innovation Hubs: Emerging economies are becoming centers for innovation in clean technologies, supported by initiatives that address barriers to investment.
Renewables now make up around 75% of new power generation in emerging markets, presenting significant investment potential for clean energy projects.
International Collaboration: Global cooperation is essential to help these markets transition to clean energy by aligning regulations and sharing best practices.
Transitioning to renewable energy can alleviate energy poverty, providing access to electricity and clean cooking solutions for underserved Nations.
What are the challenges and opportunities associated with financing clean technology initiatives?
1) Challenges:
High Cost of Capital: Clean energy projects in emerging markets often face financing costs that are significantly higher than in developed countries, sometimes up to seven times more expensive, which inflate risk premiums for investors.
Limited Access to Funds: Emerging economies account for two-thirds of the global population but receive only one-fifth of clean energy investments. This disparity creates a funding gap that hinders the transition to sustainable energy systems.
High Reliance on Public Financing: Many clean energy projects in developing countries rely heavily on public sources of finance. However, these sources are often insufficient to meet the growing investment needs, especially post-COVID-19, which has strained public finances further.
Regulatory and Policy Barriers: Uncertain regulatory environments and lengthy procedures for project approvals can deter investment. For example, subsidies favoring fossil fuels and restrictions on foreign investment further complicate financing efforts.
2) Opportunities:
Growing Demand for Clean Energy: The increasing global focus on sustainability and the urgent need to reduce carbon emissions create a favorable environment for investing in clean technologies. Emerging markets are positioned to lead this transition by leveraging their renewable resources.
Innovative Financing Models: Blended finance approaches, which combine public and private funding, can help mitigate risks and attract investment in clean technologies. Development Finance Institutions (DFIs) can play a crucial role by providing guarantees or risk capital.
Technological Advancements: Advances in clean technology are reducing costs and improving efficiency, making it easier to attract investment.
For example, technologies like solar PV and wind power are becoming more financially viable, encouraging investment from both domestic and international sources.
Carbon Markets: The establishment of domestic carbon markets provides new revenue streams for clean energy projects, enhancing their financial viability. This can attract both local and international investors looking for sustainable investment opportunities.
International Collaboration: Global partnerships can facilitate knowledge sharing and provide access to capital for clean technology initiatives.
For example, initiatives like the World Economic Forum‘s efforts to mobilize investment in emerging economies highlight the importance of collaborative approaches
Way Forward: While financing clean technology initiatives faces notable challenges, particularly in emerging markets. Addressing the barriers effectively could unlock substantial investments needed for a successful transition to clean energy systems globally. COP29 must build on the momentum of COP28 by expanding cooling commitments.
Since 1977, the South Lhonak Lake, a glacial lake in Sikkim has expanded significantly, growing from 17 hectares to 167 hectares by 2023.
Formation of Glacial Lakes:
When a glacier melts and retreats, the hollow left behind often fills with water, creating a glacial lake.
The rocky moraine at the glacier’s end can act as a natural dam, holding the water to form the lake.
Glacial lakes act as hydrological buffers, regulating water flow from melting ice, which can sometimes pose challenges to downstream communities.
Glacial lakes often have a vivid blue color, similar to swimming pools, due to the scattering of light by fine rock particles (rock flour) in the water.
There are several types of glacial lakes, each formed by specific processes and glacier dynamics:
Moraine-Dammed Lakes: Formed when moraine debris piles up at the end of a glacier and traps meltwater behind it. These are common and pose risks of outburst flooding.
Kettle Lakes: This was created when a chunk of glacier ice is buried in the moraine and eventually melts, leaving a depression filled with water.
Cirque Lakes: Formed in circular basins (cirques) carved by glaciers at high elevations. These lakes are often small and located at the glacier’s original head.
Pro-glacial Lakes: Situated in front of the glacier, between the ice and the moraine dam. These lakes are sometimes formed when the glacier’s snout melts and deposits water in the valley.
Tarn Lakes: Formed in depressions left behind in the cirques or basins after the glacier has completely melted.
Major Glacial Lakes in India
India’s Himalayan region is home to numerous glacial lakes, each with unique characteristics:
Gurudongmar Lake (Sikkim): One of the highest lakes in the world at 5,430 meters above sea level, fed by glacial melt and known for its religious significance.
Chandra Taal (Himachal Pradesh): A stunning crescent-shaped lake in the Lahaul-Spiti region at 4,300 meters. It is surrounded by snow-capped mountains and fed by glacier melt.
Samiti Lake (Sikkim): Located along the trek to Kanchenjunga and known for its clear blue waters and reflective quality.
Satopanth Tal (Uttarakhand): Found in the Garhwal Himalayas, this lake lies close to Satopanth Glacier and is considered sacred by locals.
South Lhonak Lake (Sikkim): A growing lake fed by three glaciers, expanding rapidly due to climate change and posing risks of glacial lake outburst floods.
PYQ:
[2019] Consider the following pairs:
Glacier: River
Bandarpunch: Yamuna
Bara Shigri: Chenab
Milam: Mandakini
Siachen: Nubra
Zemu: Manas
Which of the pairs given above are correctly matched?
(a) 1, 2 and 4 only
(b) 1, 3 and 4 only
(c) 2 and 5 only
(d) 3 and 5 only
