The world finally agrees on Climate Change

Climate change is all around us, and it gets more visible and more obvious with every hurricane, typhoon and tsunami that comes our way. Though the world governments committed through the Paris Agreement in 2015 to curb emissions and keep global temperature rise to well-below 2°C, and potentially below 1.5°C when compared to pre-industrial levels, there have been many sceptics.
In August of 2021, the scientific community finally laid any doubts to rest, publishing their first ever report confirming that climate change is indeed caused by human activity and it is human action that will stop the world from getting warmer. It is now widely accepted that global emissions will need to halve by 2030, and net emissions will have to be zero by 2050 for us to have a chance to avoid a world warmer by 1.5 degrees. India has been slow to get its act together on climate change and it was only in 2021, at the COP26 summit in Glasgow, that we agreed to pursue a goal of net zero emissions as a country. Private investment is crucial to meeting India’s climate goals and while progress was made this year, this is much more to be done. This report, The State of Climate Finance in India 2022, is their second annual stock-taking of India and its climate action priorities. Unitus Capital reviews the progress in climate action from an Indian perspective, and focus on what it means for the world of climate finance.

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