Climate finance to developing nations, Kala-azar, Indian Lighthouse Festival, Puri

(General Studies III – Environment Section -Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment.)

• The 29th Conference of the Parties (COP29) of the UNFCCC, set to be held in Baku, Azerbaijan, will focus heavily on climate finance.
• As developing nations bear the brunt of climate change, securing adequate funding to combat its impacts will be a key discussion point at this year’s conference.

Why Are Developing Nations Vulnerable?

1. Geographic and Economic Exposure: Developing nations, particularly those in the Global South, are highly vulnerable due to their reliance on agriculture and natural resources. Many of these countries are prone to extreme weather events like floods, droughts, and rising sea levels, which severely impact their economies.
2. Low Contributions but High Impact: While these nations contribute very little to global greenhouse gas emissions, they suffer disproportionately from climate change. For example, developed countries are responsible for 57% of cumulative emissions since 1850, but developing nations, especially small island states and least developed countries, bear the brunt of the environmental and economic fallout.
3. Limited Resources for Adaptation: With limited financial and technological resources, developing countries struggle to both mitigate emissions and adapt to the changing climate. High costs of clean energy infrastructure further compound their challenges. For instance, the cost of capital for renewable energy is almost double in developing countries compared to developed ones.

Limitations to Climate Finance –

1. Inadequate Financial Disbursements: While there are global commitments like the $100 billion annual target agreed in 2009, actual disbursals fall short. Much of the committed finance has not been provided, or comes as loans, increasing debt burdens rather than relieving financial pressures.
2. High Cost of Capital: Developing countries face higher capital costs for renewable energy projects. For example, the cost of solar power generation is twice as expensive in developing nations compared to developed countries, hindering their ability to transition to cleaner energy sources.
3. Limited Access to Technology and Knowledge:Many developing nations lack access to the latest climate-friendly technologies and technical expertise required to implement effective mitigation and adaptation strategies. This knowledge gap further exacerbates their vulnerability to climate impacts.

What Can Be Done?

1. Prioritize Grants Over Loans: To ease financial burdens, climate finance should shift towards direct grants rather than loans, especially for adaptation measures that do not generate immediate economic returns.
2. Improve Data Accessibility and Transparency: Public climate finance data should be made more accessible and transparent to allow for better tracking and accountability of financial flows, especially in high-risk areas.
3. Establish Long-term Financial Mechanisms: COP29 must address the need for a new New Collective Quantified Goal (NCQG) to secure long-term financing. A proposed target of $1 trillion annually for developing countries by 2030 has been recommended, focusing on new and additional sources of finance, including public-private partnerships.
4. Technology Transfer and Capacity Building: Developed nations should facilitate technology transfer and capacity building initiatives to empower developing nations to implement sustainable projects and strengthen local resilience against climate risks.

COP29 presents a pivotal opportunity for global leaders to address the critical gaps in climate finance and secure a future where developing nations can effectively combat and adapt to climate change. Ensuring sufficient, timely, and accessible funding, along with technology support, will be essential for achieving sustainable development goals and a just energy transition.

• Researchers have discovered how the bioluminescent phytoplankton Pyrocystis noctiluca manages to move between the ocean’s depths and surface.
• These single-celled organisms can inflate to six times their original size, making them less dense than seawater and allowing them to float upwards to photosynthesize.
• This inflation is driven by an internal structure called a vacuole, which fills with freshwater during cell division.
• After growing heavier at the surface, they sink to deeper waters, divide, inflate, and return to the surface, creating a cyclical movement like a natural submarine.

Dig Deeper: Know more about various fungi, bacteria etc. using bioluminescence as a defence mechanism to attract prey or mates.  

• Alt Carbon, a Darjeeling-based company, is using a geo-chemical process called rock weathering to accelerate natural carbon removal and generate carbon credits.
• The company uses basaltic rock, rich in calcium and magnesium, which naturally breaks down over thousands of years, trapping atmospheric carbon in the form of bicarbonates.
• Alt Carbon accelerates this process by crushing basaltic rock into fine powder, enhancing its carbon capture potential by 10 to 100 times.
• This crushed basalt is spread on tea estates, enriching soil and sequestering carbon at a faster rate.
• Spreading basalt dust on soil increases its surface area.
• Approximately 3-4 tonnes of basalt dust can sequester 1 tonne of carbon in 2-4 years.
• Alt Carbon has partnered with Frontier, a consortium of companies like Meta and Alphabet, to sell carbon credits generated through this process.

Dig Deeper: Read about the Carbon Cycle.

• India is on the verge of eliminating Kala-azar as a public health issue, with the country meeting the WHO’s criteria of fewer than one case per 10,000 people for two consecutive years.
• If this trend continues, India will be eligible for the WHO elimination certificate, following Bangladesh.
• Kala-azar, or visceral leishmaniasis, is a parasitic disease caused by the bite of infected female sandflies.
• It is the second deadliest parasitic disease in India after malaria.

• Symptoms include fever, weight loss, enlarged spleen/liver, and anaemia, and it is fatal in 95% of untreated cases.
• The National Health Policy set initial targets for elimination in 2010, revised multiple times, with the current goal by 2030.
• Bihar, Jharkhand, West Bengal, and parts of Uttar Pradesh are most affected, with Bihar alone accounting for 70% of cases.

Dig Deeper: Read about other prominent vector-borne diseases and the risks posed by their mutations.

• Jammu and Kashmir Lieutenant-Governor approved a resolution passed by the Cabinet, urging the Centre to restore statehood to the Union Territory.
• The Cabinet, chaired by the Chief Minister, unanimously passed a resolution for the restoration of J&K’s statehood in its original form, considering it a key step in reclaiming constitutional rights and protecting the identity of its people.
• The Cabinet authorized the Chief Minister to engage with the Prime Minister and Government of India for the statehood restoration.
• This move marks a significant step toward reclaiming Jammu and Kashmir’s constitutional rights and statehood.

Dig Deeper: Read about the constitutional position of Lieutenant Governor in the context of Union Territories.

• The 29th Conference of the Parties (COP29), to be held in Baku, Azerbaijan in November is expected to focus on climate finance, with key discussions on the needs of developing countries and the post-2025 climate finance goals.
• Developing countries are highly vulnerable to climate change, relying heavily on agriculture and other climate-sensitive sectors.
• Despite their vulnerability, they contribute relatively little to global emissions, with developed nations accounting for 57% of cumulative emissions since 1850.
• The 2009 Copenhagen Accord pledged $100 billion annually in climate finance by 2020, but the target remains unmet.
• A new post-2025 mobilization target will be discussed at COP29.
• India’s Climate Finance Needs:
• By 2030, India targets 500 GW of non-fossil energy capacity, 5 million metric tonnes of green hydrogen production, and expanded electric vehicle adoption.
• Long-term investments needed for India to achieve net-zero emissions by 2070 are estimated at ₹850 lakh crore.

Dig Deeper: Read about India’s initiative to achieve Climate Finance needs.

• Union Minister of Ports and Shipping announced initiatives to preserve India’s lighthouses as part of the country’s marine heritage and transform them into tourist hubs, benefiting coastal communities.
• This announcement was made during the second Indian Lighthouse Festival at Puri.
• Lighthouse tourism has seen a 400% rise in footfall since 2014.
• A national framework is being developed to preserve lighthouses as symbols of India’s maritime history.
• The Ministry has invested ₹60 crore to develop 75 iconic lighthouses across nine coastal states and one union territory with modern amenities like museums and parks, creating both direct and indirect employment.
• Two new lighthouses will be established on Odisha’s coastline, one at Chaumuck at Narayanpur in Balasore district and another at Dhamra in Bhadrak district.
• The Kalwan Reef Lighthouse was inaugurated in Jamnagar, Gujarat.

Dig Deeper: Read about the navigational relevance of the Lighthouse in the current context.