The World Economic Forum’s (WEF) annual risks report has revealed that it is the climate crisis that the world’s elite are most concerned about. For the first time in the 15 years since the report was first published, issues related to the climate emergency filled up the top five slots in the list of concerns that are likely to have a major impact in the next 10 years. The report was released just ahead of the WEF’s annual meeting at Davos, which it claims will be a carbon-neutral event.
Allow private plantations as compensation, says forest board; activists unhappy
Activists have voiced their concern over the Forest Advisory Committee’s (FAC) recommendation to allow private players to raise plantations to be used at a later date for compensatory afforestation (CA). The FAC’s recommendation comes after complaints from private players about the CA process, like delay in setting up plantation because of flow of funds, land identified for CA being isolated and therefore difficult to maintain. The FAC, therefore, reasoned that setting up plantations beforehand would eliminate most of the issues.
Activists, however, expressed concern over the mechanism, where ‘the CA money can be exchanged between the private agency and the project proponent, can lead to a situation where money keeps circulating within a private company’. They also raised red flags over the ambiguity about how the mechanism will be realised on ground.
India begins talks with World Bank for PM Modi’s global power grid plan
India has opened dialogue with the World Bank (WB) for the implementation of Prime Minister Narendra Modi’s ambitious global electricity grid. The project envisions leveraging solar power generated in one part of the world to meet the electricity needs of other nations. A senior government official said WB may prepare a feasibility report for the project soon.