PFC Becomes First Member from India to Join Asia Transition Finance Study Group
Power Finance Corporation Ltd (PFC) became the first Indian participant in the Asia Transition Finance Study Group (ATFSG), an initiative spearheaded by the Japanese Ministry of Economy, Trade and Industry (METI) to promote sustainable transition finance in Asian countries. By becoming a part of this initiative, PFC will not only contribute India's perspective but also collaborate on devising policy considerations to facilitate efficient energy transition financing.
This significant step was taken in the presence of Minister of Power and New and Renewable Energy, R. K. Singh, and His Excellency Yasutoshi Nishimura, Minister of Economy, Trade and Industry, Government of Japan during the Bilateral Ministerial Meeting held on the sidelines of the G20 summit in Goa. The collaboration is aimed at fostering cooperation among Asian countries to advance financing for Energy Transition and Net Zero objectives.
ATFSG was launched in October 2021, by private financial institutions, with the clear aim of presenting and disseminating the concept of Asian transition finance, building upon the principles outlined in the Asia Energy Transition Initiative (AETI). Japan's Asia Energy Transition Initiative (AETI) was launched to help countries in the Asia-Pacific region achieve net-zero emissions.
Jul 24, 2023
World's Biggest Permafrost Crater in Russia's Far East Thaws as Planet Warms
Batagaika crater, a one kilometre long gash in Russia's far East that forms the world's biggest permafrost crater, also known as 'mouth to hell', is melting as a result of the planet getting warmer day by day.
The crater began to appear in the 1960s as a result of deforestation in the area. The deforestation led to the loss of ground ice, which then caused the Earth to begin eroding.
The 'gateway to the underworld', as some locals in Russia's Sakha Republic also call it, has a scientific name: a mega-slump.
Jul 23, 2023
India Meteorological Department Introduces the Heat Index
The India Meteorological Department (IMD) introduced the Heat Index on an experimental basis. The Heat Index is designed to offer general guidance for regions in India where the combination of temperature and humidity results in a higher apparent temperature or "feel-like" temperature, causing discomfort to people.
The Heat Index takes into account the impact of humidity along with the temperature to provide a more accurate representation of how hot it feels. It helps people understand the level of discomfort they may experience due to heat and humidity. Currently, IMD is using a heat index equation similar to the one used by the National Weather Service, National Oceanic and Atmospheric Administration (NOAA) in the United States.
By introducing the experimental Heat Index, IMD aims to provide valuable information to the public about heat-related conditions, enabling them to take necessary precautions during hot and humid weather conditions.
Jul 19, 2023
Typhoon Talim Disrupts Hong Kong
Talim made landfall in Zhanjiang city, located in Guangdong province. China typically experiences its primary flood season from late July to early August. During this period, there is an upsurge in tropical cyclone and typhoon activity, particularly in the South China Sea and Western Pacific regions, with particular emphasis on the southern and south-eastern coastal areas of the country. Hong Kong hoisted the Tropical Cyclone Warning Signal No 8, the third-highest warning level first time this year.
The name 'Talim' has been used for four tropical cyclones in the Western Pacific Ocean. The name was contributed by the Philippines and is a Filipino word meaning 'a sharp or cutting edge'.
The four tropical cyclones are:
Typhoon Talim – 2005 in Taiwan, China, Tropical Storm Talim – 2012 in Taiwan, China, Typhoon Talim – 2017 in Ryukyu Islands and Kyushu, Japan and Typhoon Talim - 2023.
Jul 17, 2023
Nagaland Bans Single-use Plastic
The Nagaland government banned single-use plastic (SUP) in the state to eradicate the serious environmental and ecological challenges posed by the rampant use of plastic.
This is in compliance with the directives from the Central Pollution Control Board, Ministry of Environment, Forest & Climate and subsequent directives from the Urban Development Department Nagaland (UDD) as per the Environment (Protection) Act, 1986.
The UDD said that the manufacture, import, stocking, distribution, sale, and use of carry bags made of mod, virgin, or recycled plastic, irrespective of the thickness in microns, are prohibited.
It also banned the manufacture, import, stocking, distribution, sale, and use of earbuds with plastic sticks, plastic sticks for balloons, plastic flags, candy sticks, ice-cream sticks, and polystyrene (Thermocol) for decoration.
As per UDD, inspections would be conducted at regular intervals, and defaulters would be penalised heavily for the offence.
Assam Launches Project Gajah Kotha
In an effort to mitigate the escalating human-elephant conflict (HEC) issue, Assam launched the 'Gajah Kotha' campaign, involving more than 1,200 individuals and promoting coexistence. This campaign focuses on HEC-affected villages in eastern Assam, where it aims to educate residents about the behaviour, ecology, and cultural significance of elephants in the region, emphasising the importance of conservation. Spearheaded by Aaranyak, a prominent wildlife NGO based in Guwahati, in collaboration with the British Asian Trust and the Assam Forest Department, and with support from the Darwin Initiative, this initiative demonstrates their dedication to fostering a harmonious coexistence between humans and elephants.
With a flourishing elephant population of nearly 5,000 Asiatic elephants, Assam holds the second position in India in terms of elephant numbers, just behind Karnataka. Nonetheless, the region faces escalating conflicts as a result. The encroachment on natural habitats, fragmentation of forests, and insufficient management of elephant corridors have all played a role in exacerbating these conflicts, highlighting the vital importance of initiatives such as 'Gajah Kotha' in promoting a sustainable coexistence.