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India no longer needs global support to decarbonise itself: UNEP expert

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New Delhi, May 14, 2017: India no longer needs international cooperation to decarbonise itself and needs to pressure countries to remain ambitious, including wealthier countries that need to act domestically and support developing countries in the transition to a green economy.

Similarly, China today is the world’s largest issuer of green bonds, a new way to fund “green” projects.

So says Simon Zadek, co-Director with the UN Environment Programme’s (UNEP) Inquiry into the Design of a Sustainable Financial System.

The Inquiry is an international platform for advancing national and international efforts to shift the trillions of dollars required for delivering an inclusive, green economy through the transformation of the global financial system.

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With solar procurement bids in India now below the cost of coal, action in this and other areas no longer needs international cooperation to decarbonise, Zadek told IANS in an email interview.

Similarly, within a few years, there will be the massive deployment of battery technology and electric vehicles.

India must be concerned, however, that climate change is addressed for its own secure development and needs to pressure all countries to remain ambitious, including wealthier countries that need to act domestically and support developing countries in the transition, he said.

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Zadek was replying to a question: With President Trump mulling a possible pull out of the 2015 Paris Agreement, do you think this will impede or demotivate developing countries like India and China to continue on its path to decarbonise?

Speaking at a UN energy forum in Vienna on May 11, Power Minister Piyush Goyal said: “The road from Paris to India today has been somewhat bumpy. We will have to sort that out. But I’d like to reassure each one of you here today that stands committed to its commitments made at Paris irrespective of what happens in the rest of the world.”

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According to Zadek, China has adopted literally hundreds of policy steps in encouraging the transition to a low-carbon and sustainable economy, many of which are reflected at a high-level in its 13th Five Year Plan.

“Of notable importance is massive policy and fiscal support for sustainable infrastructure (especially in the mobility and energy spaces but also water, sanitation, land use, etc.), the State Council adopted recommendations to green China’s financial system and the countrywide carbon market.”

The UNEP expert, who has advised companies worldwide on sustainability issues, and until recently lived in China, believes there will be no successful “brown” economies in the 21st century.

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“So the transition is an imperative, and an early transition offers so many first mover advantages to China that catalysing it with fiscal and other policy support makes sense.”

Zadek said funds from international frameworks like the Green Climate Fund (GCF) would not help transition in countries like India and China.

The GCF and other international public funds are far too small to play any significant role for India or China, except in catalytic and experimental roles such as encouraging the use of blockchain and other digital technologies to ease and lower the cost of international capital.

The GCF is a unique global initiative by the United Nations Framework Convention on Climate Change (UNFCCC) to respond to climate change by investing into low-emission and climate resilient development.

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On China’s investments in its green programmes, he said the People’s Bank of China estimates that $600 billion a year is needed to green the country’s economy.

“Today the numbers are far from that but progress is being made with China’s levels of green credit having hit almost 10 percent of total banking sector portfolios and China today being the world’s largest issuer of green bonds.”

On steps India could take to accelerate decarbonization of its economy, he said: “Much more of what you are already doing, ramping up clean energy, including distributed solar for isolated, unconnected communities, shutting down your coal build pipeline for simple economic reasons and preparing India’s innovative entrepreneurs to move heavily into clean mobility.”

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He favoured transforming India’s domestic financial system to make it fit for the purpose and so enabling the country to reduce dependency on expensive international capital.

India’s draft “Ten Year Electricity Plan” calls for a staggering 275 GW of renewable energy by 2027, in addition to 72 GW of hydro and 15 GW of nuclear energy. IANS

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Coca-Cola plans to break into Indian ‘fruit circular economy’

According to Krishnakumar, Coca-Cola India with its focus on the 'fruit circular economy' will enable the growth in demand for fruits which in turn would improve the farm practices and increase the farmer income

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The company is also planning to launch vegetable-based beverage like carrot juice.
The company is also planning to launch vegetable-based beverage like carrot juice. Wikimedia Commons
  • Coca-Cola is also planning to launch vegetable-based beverage like carrot juice
  • The company plans to launch fruit juices based on the regional preferences
  • The company’s focus on fruit beverages is in line with its philosophy of ‘beverage for life’

Expanding its fruit-based beverage offerings, frozen fruit dessert, getting into dairy based value-added products and also exporting those products developed in India, are some of the plans of Coca-Cola India Pvt Ltd, said a top company official.

He said the company’s focus will be on ‘fruit circular economy’– enabling farmers to increase their yield, source pulp and launch fruit-based products.

The company is also planning to launch vegetable-based beverage like carrot juice.

“We are in the process of developing different fruit beverages including based on regional fruits and would soon be launching them.

“Similarly we will also expand our portfolio of fruit flavoured sparkling drinks like Fanta.

Also Read: Tune into a healthy lifestyle with these natural sweeteners

“After successful piloting of our frozen fruit dessert in Bengaluru, we will launch the product in major cities this April,” T. Krishnamukar, President, Coca-Cola India and Southwest Asia told select media here late on Thursday.

He said the company plans to launch fruit juices based on the regional preferences. For instance, the company would launch mango juices based on mango varieties that are available and popular in a particular region so that there is also a local connect.

Presently the Coca-Cola group is a $21 billion brand.
Presently the Coca-Cola group is a $21 billion brand. Wikimedia Common

“We are also working on a product based on gooseberries,” he added.

According to him, the company has tied up with Jain Irrigation that operates fruit pulping plants in different regions.

“We have tied up with Jain Irrigation for sourcing and pulping mango fruit. Similarly, we have a tie-up with that company for oranges in Maharashtra.

“We expect Jain Irrigation may start setting up an orange pulping plant and the first commercial orange pulp may be available sometime in 2020,” Krishnakumar added.

Also Read: Prepare these Amazing Cocktails for a tipsy Winter

He said the company’s focus on fruit beverages is in line with its philosophy of ‘beverage for life’ meaning to have a product for people in different age groups.

“The philosophy now is to make the company bigger than the Coca-Cola brand.

Presently the Coca-Cola group is a $21 billion brand,” he said.

According to Krishnakumar, Coca-Cola India with its focus on the ‘fruit circular economy’ will enable the growth in demand for fruits which in turn would improve the farm practices and increase the farmer income.

the company would launch mango juices based on mango varieties that are available and popular in a particular region so that there is also a local connect.
the company would launch mango juices based on mango varieties that are available and popular in a particular region so that there is also a local connect. Wikimedia Commons

“We felt we should be more relevant to the local community. Tastes, views vary based on regions. So we have to move globally to local and local to global,” he said.

The company will launch the local fruit beverages-including the mango beverage- under the Minute Maid brand.

“The fruit pulp content will be between 10 percent to 25 percent in such drinks,” Krishnakumar added.

He said the research and development (R&D) work for new products is being done in India and also in Shanghai in China.

Speaking of exports, he said the company has started exporting Indian brands like the carbonated drink ThumsUp and masala soda RimZim to Bangladesh and later to Sri Lanka, Bhutan and other markets.

Also Read: Five Benefits of Honey and Lemon Drink that Can’t be Ignored

“We want to build on Indian brand as a billion dollar beverage brand. We are not shipping the end product but the formula, brand and related matters,” he said.

Speaking of the sugar content in the company’s beverages, Krishnakumar said work in on to reduce the sugar content in its drinks and in five years time the beverages sold by the company will have far less sugar content than what it currently has.

On the foray into the dairy products segment, Krishnakumar said during the second half of the current year the company would launch the value-added dairy product. (IANS)