Historic climate deal a step to 'better future': Javadekar

December 13, 2015

Paris, Dec 13: India today hailed the adoption of a landmark climate change deal as a "historic day" which promises a "better future" and creates a "chapter of hope" in the lives of seven billion people.

pjNoting that the agreement acknowledges and recognises the development imperatives of India and other developing countries, Environment Minister Prakash Javadekar said the accord also supported their right to development and their efforts to harmonise development with environment, while protecting the interests of the most vulnerable.

"Today is a historic day. What we have adopted is not only an agreement but a new 'chapter of hope' in the lives of 7 billion people. Mahatma Gandhiji used to say that 'we have not inherited earth from our ancestors, but we have it on loan from future generations," Javadekar said.

"We have today reassured our future generation that we all together will mitigate the challenge posed by climate change and we will give them a better future," he said at the plenary session after the agreement was adopted.

Javadekar, however also said the agreement could have been more ambitious as the actions of developed nations are "far below" than their historical responsibilities and fair shares.

"The actions of developed countries are far below their historical responsibilities and fair shares. We have in the spirit of compromise agreed on a number of phrases in the agreement," he said.

Javadekar said the conference also witnessed the launch of the historic International Solar Alliance under the leadership of Prime Minister Narendra Modi which he termed as "path breaking" in providing unprecedented boost to solar energy development.

He said that India was happy that the agreement has "unequivocally" acknowledged the imperative of climate justice, which reflects common sentiment and has based itself on the principles of equity and common but differentiated responsibilities.

"The agreement also acknowledges the importance of sustainable lifestyles and sustainable consumption patterns. We are also happy that the agreement differentiates between the actions of developed and developing countries across its elements," Javadekar said.

Noting that India has consistently said that the path to climate ambition must be paved with equity, he said that the accord has recognised it.

"While give and take is normal in negotiations, we are of the opinion that the agreement could have been more ambitious. We share the concern of several friends that this agreement does not put us on the path to prevent temperature rise below 2 degrees," Javadekar said.

India was engaged constructively and in good faith throughout the course of the negotiations while it was also a part of several groupings of developing countries, including BASIC, LMDCs and G-77 and China and support their statements.

"For us, this agreement is yet another step in a journey we have already started. I hope that Paris will mark the new beginning, where commitments made will be fulfilled," Javadekar said.

"It is India's hope that the Paris Agreement will fulfil the wishes of Mahatma Gandhi who said 'We should care for a world we will not see'," he said while thanking as well as congratulating French Presidency for vision and patience.

Later, Javadekar told reporters that it is a historic day because it gives a new hope to the future generation that the world will act collectively and give them a better earth for their future.

"Today I hope that the commitments made are fulfilled. This will be new beginning. Paris has succeeded. It was under terror attack last month. This month Paris has proved that world comes together and that is the answer to mitigate the challenge posed by climate change," Javadekar said.

"This is historic because it was not easy that all countries will agree to a reasonable ambitious deal. This has given a new hope, a new lease of life," he said.

Asked if compromises were done, Javadekar said the need was to be "accommodative" without changing the thrust of the agreement.

"To achieve big things as there are languages and many issues, when 196 countries are putting their efforts together, you need to be accommodative without changing the thrust of the agreement. We have done everything to maintain that thrust," he said.

It will be continuous work from here till 2020 to have new mechanisms. At the same time, all nations are bound by indc and they will be reporting.

He said that there were no obligations for developing countries as the agreement has differentiated treatment which is logical.

"Paris is an absolute success. It is a great victory for humanity. We have been successful to keep our national interest alive, at the same time to arrive at a compromise, we proactively engaged with the world and ensured that on small differences, weWORKED together and now there is this agreement," he said.

An official statement said that the Paris Agreement for the first time brings all nations into a common cause based on their historic, current and future responsibilities.

The universal agreement's main aim is to keep a global temperature rise this century well below 2 degrees Celsius and to drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels.

On the crucial financing issue, developed countries agreed to muster at least USD 100 billion a year from 2020 to help developing nations.

To reach these ambitious and important goals, appropriateFINANCIAL flows will be put in place, thus making stronger action by developing countries and the most vulnerable possible, in line with their own national objectives, it said.

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Agencies
June 16,2020

Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.

Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.

So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.

Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.

Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.

In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.

Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.

The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.

He has also worked extensively with Gulf sovereign wealth funds over the years.

"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.

"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.

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News Network
July 18,2020

New Delhi, Jul 18: The Covid-19 lockdown-led reduction in air pollution levels across five Indian cities, including Delhi and Mumbai, may have prevented about 630 premature deaths, and saved USD 690 million in health costs in the country, according to a new study.

Scientists, including those from the University of Surrey in the UK, assessed the levels of harmful fine particulate matter (PM2.5) from vehicles and other sources in five Indian cities -- Delhi, Mumbai, Kolkata, Chennai and Hyderabad -- since the beginning of the lockdown period.

The study, published in the journal Sustainable Cities and Society, compared these lockdown PM2.5 figures from 25 March up until 11 May, with those from similar periods of the preceding five years, and found that the measure reduced pollution levels in all these places.

According to the scientists, during this period, the levels of these harmful air pollutants reduced by 10 per cent in Mumbai, and by up to 54 per cent in Delhi.

"The percentage reduction for the other cities ranged from 24 to 32 per cent, which was slightly smaller than the measured values for Delhi and Mumbai," the scientists noted in the study.

"While the reduction in PM2.5 pollution may not be surprising, the size of the reduction should make us all take notice of the impact we have been having on the planet," said Prashant Kumar, a co-author of the study from the University of Surrey.

The scientists said these reductions in PM2.5 were comparable to those reported in other cities across the world, such as in Austria's capital Vienna (60 per cent), and Shanghai (42 per cent) in China.

They also calculated the monetary value of the reduced mortality due to air pollution and found that the lowered levels of PM2.5 may have saved 630 people from premature death, and USD 690 million in health costs in India.

Coronavirus India update: State-wise total number of confirmed cases, deaths on July 17

According to the researchers, the present lockdown situation offers observational opportunities regarding potential control systems and regulations for improved urban air quality.

They said an integrated approach might help in understanding the overall impacts of Covid-19 lockdown-style interventions and support the implementation of relevant policy frameworks.

"This is an opportunity for us all to discuss and debate what the 'new normal' should look like - particularly when it comes to the quality of the air we breathe," Kumar said.

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News Network
April 16,2020

Thiruvananthapuram, Apr 16: Seven fresh cases of COVID-19 were reported from Kerala on Thursday, taking the total number of active cases to 147 in the state,even as over 88,000 people are under observation.

On Wednesday, only one positive case had been reported, thelowest in weeks.

While Kannur reported four cases, two were from Kozhikode and one from Kasaragod, Chief Minister Pinarayi Vijayan told reportershere.

Five of those affected had come from abroad, while two have got it through contact with infected people.

Samples of 27 people, including 24 from the worst affected Kasaragod, have turned negative on Thursday.

He said 394 coronavirus cases have so farbeen detected from the state.

Over 80,000 people are under observation, including 532 in various hospitals.

Vijayan said 17,400 samples have been sent for testing of which 16,459 have returned negative.

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