Karnataka sizzling @ IK2016

Karnataka , with its tradition of excellent climate , great scientists and scientific institutions, and rich cultural history that respects learning and excellence, has now the potential to become a super power state.

And I feel so proud to be a part of this great state.The year has started out with a big bang for Karnataka,planning to raise close to Rs 1,00,000 crore from the 3 day global investors meet.

So far Karnataka has received Second highest FDI in India and has cleared more than 500 projects worth over USD 20 Billion. Union Ministers Arun Jaitley, Venkaiah Naidu, Nitin Gadkari along with business leaders including Tata Trust Chairman Ratan Tata, Infosys Co-Founder & Chairman N R Naryan Murthy, Walmart India CEO Kris Iyer, and several others attended the event.

As a precursor to the Invest Karnataka meeting last month, Chief Minister Siddaramaiah reportedly said that the State’s Industrial Policy for 2014-19 aims for an annual growth rate of 12 percent and to attract investments of Rs 5 lakh crore, providing employment to 15 lakh people in the next five years.This state ranks as one among top three on all fronts and has potential to come out shining and with all guns blazing. Increased green energy drives by the state government and social groups and changing regulatory environment to promote this green sector have boosted investor confidence in the renewable energy sector.

Total global corporate funding in this sector, including venture capital (VC) and private equity (PE), debt financing and public market financing, raised by public companies have shot up ..let us wait for the numbers soon by end of summit.

Permanent link to this article: https://blog.sohamenergy.in/karnataka-sizzling-ik2016/

The high points of COP21

The overall world mood is good. And there is widespread optimism as the ‘Paris Agreement’ was voted through.

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The draft is filed keeping in mind the needs of developing nations and respects the obligations to human rights by taking actions addressing climate change without discriminating any minority, race and gender. At the heart of the latest draft text are the statements of overall intent and purpose. The agreement sets its overarching goal as to hold the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C.

It also sets an aim for countries to reach the peaking of greenhouse house gas emissions as soon as possible, recognizing that peaking will take longer for developing country Parties, and to undertake rapid reductions thereafter towards reaching greenhouse gas emissions neutrality in the second half of the century.

These are not, of course, as forceful or as rapid as many would like to see, but they represent profound shifts from any global agreement we have ever seen in the past. Biggest battles at COP21 has been the goal of how much we let our planet heat up. Vulnerable countries fought hard for the goal of 1.5°C.

Much is owed to island nations and climate justice groups .Whether it’s 2 or 1.5C – what’s clear is we have to move to get off of fossil fuels fast. Though there were several pledges to Cut Emissions there’s a huge amount of work to be done. A long term goal to get off fossil fuels was set at 2050 as the goal for when the world would be 100% off of fossil fuels.

One of the good things about this agreement is the 5 year review mechanism. Right now the contributions from each country will not bring us a safe world, not even close. But now this agreement would force countries to come back to the table every five years to review their emissions reduction targets and make new, more ambitious cuts

For the first time in history, the whole world has made a public commitment to reduce greenhouse gas emissions and deal with the impacts of climate change. Although different countries will move at different speeds, the transition to a low carbon world is now inevitable. It is good to see the era of politicians burying their heads in the sand is over and new dawn of climate-aware politics.

 

Permanent link to this article: https://blog.sohamenergy.in/the-high-points-of-cop21/

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