Scientists turn CO2 into rock to combat climate change:-

In a unique experiment, scientists turned carbon dioxide into a stone by pumping it with water underground. Carbon dioxide is a huge menace and probably the only way to fight it is to bury it as deep as possible.

In the experiment called CarbFix, scientists pumped CO2 and water 540 metre underground into volcanic rock at the Hellisheidi geothermal power plant in Iceland- the world’s largest geothermal facility. After two years, 95% of the gas was captured and converted.

In this method, CO2 is dissolved with water and the mixture is pumped into volcanic rocks called basalts. Once that happens, the CO2 turns into a solid mineral (calcite), which can then be stored.

The Iceland project has been increased in scale and is set to store 10,000 tons of CO2 a year.

Implications:

  • Carbon capture, however, can be expensive – especially the capturing part. Once the gas is grabbed from the air storing it is another issue.
  • It can be stored underground and is sometimes injected to depleted oil wells, but there are concerns about monitoring it and preventing it from escaping.
  • It’s not yet clear whether this approach could be viable on a large scale. The process requires a significant amount of water — 25 tons for every ton of CO2 — and some question whether it could be easily applied to other parts of the world.

Axis Bank launches India’s first certified green bond at London Stock Exchange

Axis Bank has raised $500 million at the London Stock Exchange after it launched India’s first internationally-listed certified green bond to finance climate change solutions around the world.

The proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.

Green bonds :-They are like any other debt instrument but the funds raised from such a bond sale are used exclusively for renewable energy projects.With the Indian government and private sector increasingly focusing on renewable energy projects, the demand for such funds is expected to rise over time.


Government frames new policy for ads in print media

Ministry of Information & Broadcasting has framed a New Print Media Advertisement Policy for Directorate of Advertising & Visual Publicity (DAVP) with the objective to promote transparency and accountability in issuing of advertisements in print media.

The policy focuses on streamlining release of Government advertisements and to also promote equity and fairness among various categories of newspapers/periodicals.

Highlights of the policy:

  • For the first time, the policy introduces a new marking system to incentivise newspapers which have a better professional standing and get their circulation verified by Audit Bureau of Circulations (ABC) or Registrar of Newspapers for India (RNI).
  • The marking system is based on six objective criteria. The six parameters include circulation certified by the Audit Bureau of Circulation (ABC) or the Registrar of Newspapers in India (RNI) (25 marks), employee provident fund subscription (20), number of pages (20), subscription to news services of PTI, UNI or Hindustan Samachar (15).
  • Other criteria include a paper having its own printing press (10) and annual subscriptions to the Press Council of India (10).
  • Advertisements shall be released by DAVP to newspapers based on marks obtained by the publication.
  • The policy framework includes circulation verification for empanelment of newspapers and journals with DAVP. It involves certification by RNI or ABC if circulation exceeds 45,000 copies per publishing day and for circulation up to 45,000 copies per publishing day certificate from cost or chartered accountant, statutory auditor certificate or ABC is mandated.w
  • The policy also says that RNI circulation certificate , ill be valid for a period of two years from the date of issue and in case of ABCthe current certificate will be used.
  • The policy allows relaxations to encourage publications in regional languages, small and medium newspapers, mass circulated newspapers (over 1 lakh), papers in the Northeast, Jammu and Kashmir and the Andaman and Nicobar Islands.
  • To promote regional equity, the budget for all India release of ads shall be divided among states based on circulation of newspapers in each state or language.

 

 

 

 

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  • Context:-

    At the recently concluded Leaders’ Summit on Climate in April 2021, Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, a collective of the United States, United Kingdom and Norway governments, came up with a $1 billion fund plan that shall be offered to countries committed to arrest the decline of their tropical forests by 2030.

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    What is LEAF Coalition?

    • Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, a collective of the United States, United Kingdom and Norway governments, came up with a $1 billion fund.
    • LEAF is supported by transnational corporations (TNCs) like Unilever plc, Amazon.com, Inc, Nestle, Airbnb, Inc as well as Emergent, a US-based non-profit.

    Why LEAF Coalition?

    • The world lost more than 10 million hectares of primary tropical forest cover last year, an area roughly the size of Switzerland.
    • Ending tropical and subtropical forest loss by 2030 is a crucial part of meeting global climate, biodiversity and sustainable development goals. Protecting tropical forests offers one of the biggest opportunities for climate action in the coming decade.
    • Tropical forests are massive carbon sinks and by investing in their protection, public and private players are likely to stock up on their carbon credits.
    • The LEAF coalition initiative is a step towards concretising the aims and objectives of the Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism.
    • REDD+ was created by the United Nations Framework Convention on Climate Change (UNFCCC). It monetised the value of carbon locked up in the tropical forests of most developing countries, thereby propelling these countries to help mitigate climate change.
    • It is a unique initiative as it seeks to help developing countries in battling the double-edged sword of development versus ecological commitment. 
    • The initiative comes at a crucial time. The tropics have lost close to 12.2 million hectares (mha) of tree cover last year according to global estimates released by Global Forest Watch.
    • Of this, a loss of 4.2 mha occurred within humid tropical primary forests alone. It should come as no surprise that most of these lost forests were located in the developing countries of Latin America, Africa and South Asia.
    • Brazil has fared dismally on the parameter of ‘annual primary forest loss’ among all countries. It has lost 1.7 mha of primary forests that are rich storehouse of carbon. India’s estimated loss in 2020 stands at 20.8 kilo hectares.

    Brazil & India 

    • Between 2002-2020, Brazil’s total area of humid primary forest reduced by 7.7 per cent while India’s reduced by 3.4 per cent.
    • Although the loss in India is not as drastic as in Brazil, its position is nevertheless precarious. For India, this loss is equivalent to 951 metric tonnes worth carbon dioxide emissions released in the atmosphere.
    • It is important to draw comparisons between Brazil and India as both countries have adopted a rather lackadaisical attitude towards deforestation-induced climate change. The Brazilian government hardly did anything to control the massive fires that gutted the Amazon rainforest in 2019.
    • It is mostly around May that forest fires peak in India. However, this year India, witnessed massive forest fires in early March in states like Odisha, Uttarakhand, Madhya Pradesh and Mizoram among others.
    • The European Union’s Copernicus Atmospheric Monitoring Service claimed that 0.2 metric tonnes of carbon was emitted in the Uttarakhand forest fires.

    According to the UN-REDD programme, after the energy sector, deforestation accounts for massive carbon emissions — close to 11 per cent — in the atmosphere. Rapid urbanisation and commercialisation of forest produce are the main causes behind rampant deforestation across tropical forests.

    Tribes, Forests and Government

    Disregarding climate change as a valid excuse for the fires, Indian government officials were quick to lay the blame for deforestation on activities of forest dwellers and even labelled them “mischievous elements” and “unwanted elements”.

    Policy makers around the world have emphasised the role of indigenous tribes and local communities in checking deforestation. These communities depend on forests for their survival as well as livelihood. Hence, they understand the need to protect forests. However, by posing legitimate environmental concerns as obstacles to real development, governments of developing countries swiftly avoid protection of forests and rights of forest dwellers.

    For instance, the Government of India has not been forthcoming in recognising the socio-economic, civil, political or even cultural rights of forest dwellers. According to data from the Union Ministry of Tribal Affairs in December, 2020 over 55 per cent of this population has still not been granted either individual or community ownership of their lands.  

    To make matters worse, the government has undertaken systematic and sustained measures to render the landmark Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 ineffective in its implementation. The Act had sought to legitimise claims of forest dwellers on occupied forest land.

    Various government decisions have seriously undermined the position of indigenous people within India. These include proposing amendments to the obsolete Indian Forest Act, 1927 that give forest officials the power to take away forest dwellers’ rights and to even use firearms with impunity.

    There is also the Supreme Court’s order of February, 2019 directing state governments to evict illegal encroachers of forest land or millions of forest dwellers inhabiting forests since generations as a measure to conserve wildlife. Finally, there is the lack of data on novel coronavirus disease (COVID-19) deaths among the forest dwelling population;

    Tardy administration, insufficient supervision, apathetic attitude and a lack of political intent defeat the cause of forest dwelling populations in India, thereby directly affecting efforts at arresting deforestation.

    Way Forward

    • Implementation of the LEAF Coalition plan will help pump in fresh rigour among developing countries like India, that are reluctant to recognise the contributions of their forest dwelling populations in mitigating climate change.
    • With the deadline for proposal submission fast approaching, India needs to act swiftly on a revised strategy.
    • Although India has pledged to carry out its REDD+ commitments, it is impossible to do so without seeking knowledge from its forest dwelling population.

    Tuntiak Katan, a global indigenous leader from Ecuador and general coordinator of the Global Alliance of Territorial Communities, aptly indicated the next steps at the Climate Summit:

    “The first step is recognition of land rights. The second step is the recognition of the contributions of local communities and indigenous communities, meaning the contributions of indigenous peoples.We also need recognition of traditional knowledge practices in order to fight climate change”

    Perhaps India can begin by taking the first step.