Barclays Likely to Stop Lending to Projects Based on Fossil Fuels
During the annual general meeting (AGM) of Barclays, a British multinational investment bank, nearly 24% of shareholders voted for Share Action’s resolution asking the bank to phase out financing for ...
AfDB-Managed SEFA Grants $760,000 to Set Up Renewable Projects in Africa
The Sustainable Energy Fund for Africa (SEFA), which is managed by the African Development Bank (AfDB), has approved a grant of $760,000 (₹57.61 million) to Empower New Energy As (EmNEW) ...
Investments Should Now Become ‘Climate-Smart’
Coal is a necessary evil for most of the countries in the world. Though many emerging markets, including India, are transitioning towards sustainable energy, coal is far from being replaced ...
U.S. Begins Year-Long Withdrawal Process from Paris Climate Change Accord
The United States government has said that it has submitted its formal notification of withdrawal from the Paris Climate Change Agreement to the United Nations, starting the one-year-long process. President ...
India and Sweden to Lead UN Leadership Group to Work Towards Sustainability
As global leaders ramp up their efforts to combat climate change, a new leadership group led by India and Sweden has been announced at the UN Climate Action Summit. The ...
ISA and Commonwealth Join Hands to Promote Solar Power in Member Countries
The Commonwealth of Nations and the International Solar Alliance (ISA) have signed a Memorandum of Understanding (MoU) to expand solar power in the Commonwealth member countries. The agreement was signed ...
World Bank to Assist in Sustainable Extraction of Minerals for Wind, Solar Projects
To realize a lower-carbon future, there will be a substantial increase in demand for several key strategic minerals and metals to manufacture cleaner energy technologies. Keeping this in perspective, the World ...
World Bank Commits $22.5 Billion to Scale Up Climate Action in Africa
The World Bank has committed $22.5 billion to Africa for climate adaptation and mitigation in the next five years. The funding is part of the World Bank’s 2025 target to accelerate ...
Green Climate Fund Approves $299 Million for Expansion of Renewable Projects in Africa
At its 22nd meeting, the Green Climate Fund (GCF) announced the approval of approximately $299.2 million to finance programs for electrification, combating climate change and economic development through renewable energy ...
India Extends $1.4 Billion Aid to Maldives, Joins Hands to Promote Renewables
The President of the Republic of Maldives was on a state visit to India recently. The visit has been fruitful for India’s renewable energy sector as the country has found ...
India Has Spent Over ₹140 Billion to Mitigate Climate Change
From financial year 2014-15 to date, the Indian government has spent a corpus of ₹140.14 billion (~$1.96 billion) to fight climate change. The corpus was spent on implementing the National ...
Namibia Announces Issuance of its First Green Bond
In a first for the country, Namibia recently announced the launch of its green bond. By doing this, Bank Windhoek, a wholly Namibian-owned commercial bank, became the first commercial bank ...
IFC Provides €40 Million Loan to Tunisia’s Attijari Bank for Renewable Projects
The International Finance Corporation (IFC), a member of the World Bank Group, is providing a €40 million (~$46.2 million) subordinated loan to Attijari bank Tunisia, which is a private bank ...
IFC Issues Indonesian Rupiah Komodo Green Bond for Investment into Renewable Projects
The International Finance Corporation (IFC), a member of the World Bank Group, has issued its inaugural Indonesian Rupiah Komodo green bond. The green bond issue has attracted strong investor demand, ...
IFC to Continue Supporting Private Sector Investments in Europe and Central Asia
The International Finance Corporation (IFC) has announced that it has expanded its operations in Europe and Central Asia with investment commitments reaching $2.9 billion. The organization is focusing on driving ...
Solar a Solution for India’s Water Woes
India is developing rapidly and with this growth comes an increasing demand for energy. In today’s economy, reliable access to electricity is a key factor for propelling growth. Currently, the ...
India Ratifies Paris Climate Change Agreement
On October 2, 2016, India became the 62nd country to ratify the Paris Agreement. The agreement requires every ratifying member country to come up with a national plan to curb ...
