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When a 16-year-old girl who has avowed air travel has to cross the Atlantic in a solar-powered race boat to speak at a conference on climate change while the Amazon rainforests are still burning in evidence to everything she has argued at the highest public forums, it is evident that the adults in the room are not doing enough. The “war on nature must end”, Greta Thunberg appealed as she reached the shores of America. But just over the last few years, Bolsonaro in Brazil has allowed deforestation to take place unchecked under his watch while the Trump administration has been handing out leases of public land and waters for oil and gas drilling that are estimated to produce more carbon emissions than the entire European Union does in a year.
In the face of the world’s biggest crisis, a few world leaders seem to be moving in the opposite direction in denial. The myopic economic interests of countries have clearly taken precedence over the global environmental concerns regarding climate change. Nevertheless, the impact of the climate crisis has not been more evident than today through the unpredictable weather conditions and changing trends in climate, melting glaciers, rising sea levels, as well as ocean acidification. Warming temperatures triggered by greenhouse gas emissions have increased the frequency and intensity of floods, droughts and storms across countries and regions. However, the consequent environmental degradation does not have a uniform impact on countries with varying levels of economic development.
A recently published study by researchers from the Stanford University has found that between 1961 and 2010, the poor countries with lowest carbon emissions suffered bigger losses as compared to wealthy countries with highest emissions. The study emphasized that most poor countries of the world are poorer, and the rich countries are richer due to the impact of global warming. The ratio between incomes of the richest 10 per cent and the poorest 10 per cent of the global population has been estimated to be 25 per cent more than it would have been during that time period otherwise.
A similar impact has been observed within countries where people who are least responsible for the climate crisis are the most vulnerable to the risks associated with it. The local communities living in rural parts of developing countries (that are already at a disadvantage) are directly affected due to the consequent impact on agricultural production, water availability, industry and human health. As a result of rising inequality among and within countries, India’s GDP is estimated to be 31 per cent lower than it would have been without climate change. By contrast, the GDP of Canada and EU are 32 per cent and 9.5 per cent higher respectively.
These findings further the ongoing debate on the division of responsibility for causing climate change and its mitigation. Historically, developed countries have had a major contribution to the greenhouse gas emissions which makes it imperative for them to lead the fight against climate change and its adverse effects. The fact that their development which caused climate change muted the growth prospects of the next wave of developing countries puts additional onus on the developed economies to make efforts to address the crisis.
Given that all countries continue with their efforts to promote an ecosystem of sustainable production and consumption, the developed countries should not only take responsibility for their own actions, but also compensate for their negative contribution of the past. In 2015, the Global Climate Fund was created with the objective to support the efforts of developing countries to tackle climate change through investments in the form of grants, loans, equity and guarantees. In addition to financial assistance, transfer of green and clean technologies to the low-income countries could further stimulate their transition to become green economies. Thus, a comprehensive action plan should be advanced to encourage adoption of sustainable alternatives by providing fiscal incentives, regulatory support for resource-incentive sectors and building of climate-resilient infrastructure in developing countries. Stringent laws regarding green subsidies and carbon taxes levied on traded goods and services could initiate the establishment of carbon-free markets. Green innovation through investment in research and technology could also play a key role to find global solutions to the global issue of climate change.
Therefore, global value chains based on cooperation and coordination have the capacity to enhance productivity through innovation-driven production processes. International forums and bilateral trade agreements should also focus on enabling the transfer of environmentally-sound technologies for renewable sources of energy, water conservation and waste management from developed to developing countries. Lastly, since leaders like Trump and Bolsonaro cannot be expected to alter their stance on climate change, currently it is only the people who need to do their part by changing dietary habits, for instance, until the developed world can lead by example. (IANS)
By Rohit Vaid
Till now, activities associated with laying of power and telecom transmission and distribution lines, roads, highways, railways and construction of facilities such as hospitals, affordable housing, power generation units, water treatment plants, SEZs and certain type of hotels amongst others were given such status.
Besides, these sectors are a part of harmonised master list for infrastructure sub-sectors. However, in April 2021, exhibition-cum-convention centre was included in the list. "Given the focus around electric vehicle, and need for significant investment in charging stations, if the government adds the sector in infrastructure list, the benefits arising out of it will be significant," said Vishal Kotecha, Director, India Ratings and Research. "Infra tag on sectors increases ability to raise funds, access to dedicated funds and lenders, foreign capital, lower interest rates among others."
Given the focus on electric vehicles, the advantages of including the industry in the infrastructure list will be enormous. Free SVG
In recent years, lenders have taken a severe hit on their books consequent to cater to the unique financing requirements of the infra sector. This necessitated regulatory changes and government support from time to time. "The pandemic has hit the retail, hospitality and automobile sectors hard and the need for credit and liquidity support is real and urgent," said Vipula Sharma, Senior Director - Ratings and Head - Infrastructure Ratings, Brickwork Ratings.
"Any likely move to reclassify lending to these sectors as infrastructure lending will enable the banks to lend at concessional rates and extended timeline which in turn would give the sectors time to recover from the three years of repeated extended closures and rebuild their businesses. It would also enable access to funds from a larger set of institutions and funds."
Furthermore, as the economy continues to recover from the prolonged pandemic, the sustainability of the recovery is clearly the key fiscal and monetary policy objective. Consequently, Centre would need to focus on not only enhancing public capital expenditure further in infrastructure but also encouraging the private sector including foreign players to invest in the sector.
The economy is still recovering from the pandemic, and the recovery must be sustained. Unsplash
Lately, the Centre has already taken an initiative to kickstart private sector capital expenditure through the Production Linked Incentive (PLI) programme that has already covered 13 sectors with an aggregate outlay of Rs 1.97 trillion spread over the next few years. "We believe there is a case for considering 'infrastructure sector' status to the healthcare and the EV charging eco-system. The criticality of adequate healthcare infrastructure across the country has increased significantly after the pandemic and the 'infrastructure' tag can be extended to not only hospitals but also diagnostic centres," said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research. "As regards EV, the government has started to provide cash subsidies for EV purchases but the need of the hour is to build the charging infrastructure in an expeditious manner. The 'infrastructure' tag can clearly help attract funds to the EV ecosystem." (IANS/ MBI)
(Keywords: lending, power, hospitals, rate, capital, government, pandemic, funds, budget, ratings, sector, infrastructure)
A team led by chief scientist Ravi Shankar, is working on two combinations to provide the safest medication to coronavirus patients. "Experts say that a combination of antivirals with different mechanisms can be more effective to counter the viral pandemic. We are working on two combinations - Umifenovir with Molnupiravir (an antiviral) and Umifenovir with Niclosamide (anti-parasitic)," he said.
Also read: Antiviral Remdesivir Receives FDA
Molnupiravur drug has received only Emergency Use Authorisation in India and abroad. Though its usage showed reduced hospitalisation during clinical trials, its biggest drawback are the side-effects, he added.
"Now, we are trying to keep a low dosage of Molnupiravir in its combination with Umifenovir which may weed out the side-effects such as the risk of cartilage and muscle damage. If successful, it will make Umifenovir more effective in Covid-19 treatment," said the chief scientist. The other combination is Umifenovir with Niclosamide.
Niclosamide is known for its efficacy for Covid treatment but the biggest challenge is that its high dosage is required for treatment and that leads to side-effects. A safe and efficacious combination of Umifenovir with Niclosamide is being researched on for the exact dosage in the combination that can give positive results, he added.
CDRI director Prof Tapas Kundu said: "CDRI is working round-the-clock to develop drugs that can help in treating all variants of Covid-19, besides being economical and safe for people. We have achieved a major breakthrough with Umifenovir and are hopeful of developing a new drug to win the pandemic battle."
Molnupiravur drug has received only Emergency Use Authorisation in India.Wikipedia
(Keywords: CDRI director Prof Tapas Kundu, Niclosamide, Covid treatment, Umifenovir, Molnupiravir, safest medication, coronavirus)
External Affairs Minister S. Jaishankar on Friday instructed Indian envoys to Canada and the US, Ajay Bisaria and Taranjit Singh Sandhu, "to urgently respond to the situation" where four Indian nationals including an infant have lost their lives on the US-Canada border. The minister said this in a public tweet. Neither of the two missions have responded on the microblogging site till the time of filing of this report.
In a statement Thursday without identifying the victims, the Royal Canadian Mounted Police (RCMP) stated that "on the morning of January 19, 2022, RCMP officers with the Integrated Border Enforcement Team received concerning information from their counterparts in the United States".
RCMP officers received concerning information from their counterparts in the United States.Wikipedia
"Specifically, the information outlined that officers with the US Customs and Border Protection had apprehended a group of individuals who had crossed into the US from Canada, near the town of Emerson, Manitoba. Further, it indicated that one of the adults had items meant for an infant but that no infant was with the group."
"Upon receiving this information at 9.23 a.m., a search was immediately launched on both sides of the border.
RCMP officers were already patrolling the area and the search began at 9.24 a.m. Extensive patrols were conducted and, at approximately 1.30 p.m., the bodies of three individuals were located on the Canadian side of the border, approximately 10km east of Emerson.
RCMP identified the group as: an adult male, an adult female, and an infant.
At this very early stage of the investigation, it appears that they all died due to exposure to the cold weather. Work is underway to identify the victims and an autopsy has been scheduled.
The search for any possible survivors or additional victims continued throughout the evening of Wednesday, January 19, and RCMP officers continue to patrol the area today. To date, no other victims have been located."
Also read: Sikh man attacked in Canada
US authorities said border patrol officials stopped a 15-passenger rental van Wednesday driven by Steve Shand with two undocumented Indian nationals inside, less than a mile south of the border in a rural area between Lancaster, Minnesota, and Pembina, North Dakota. Shand and the Indian nationals were arrested.
Officials also intercepted another group of five Indian nationals nearby who were walking in the direction of where the van was located, according to the court documents.
The RCMP said it will be conducting an investigation and is working in close collaboration with US Customs and Border Protection and the US Department of Homeland Security.
"All of our agencies are committed to a thorough and comprehensive investigation," the statement said. (IANS/PR)
(keywords: Canada, 4 Indians, smuggled, External Affairs Minister S. Jaishankar, Indian envoys, Canada and the US, Ajay Bisaria and Taranjit Singh Sandhu)