The burden of climate change on children born today
A child born in 2021 is likely to experience on average twice as many wildfires, two to three times more droughts, almost three times more river floods and crop failures and about seven times more heat waves compared to a person who is, say, 60 years old today, a study published in the journal Science found.
The study is based on data from the Inter-sectoral Impact Model Intercomparison Project (ISIMIP). This is a community-driven climate-impacts modelling initiative that assess the differential impacts of climate change. The ISIMIP data were used alongside country-scale, life-expectancy data, population data and temperature trajectories from the Intergovernmental Panel on Climate Change (IPCC). Read more
Climate change poses significant threat of urban flooding: research
According to the author, the study covered storm water drain network, modelling historic and extreme rainfall events, impact of future climate change and formulation of mitigation measures that urban planners can adopt.
The modelling also showed the impact on river Musi. “Results showed that changing rainfall and land use and land cover increased peak run-off by three times, and flood depth in river will increase by 22% from 1995 to 2031. In 2016, 48% of the city was highly vulnerable and in 2031, 51% of the city will be so,” says the research paper. The author suggests five detention ponds to combat increasing run-off reducing the high vulnerable area by 8% in 2016 and 9% in 2031. Read more
Fund Managers Start Axing ESG Buzzword as Greenwash Rules Bite
Some of Europe’s largest asset managers are beginning to remove the once-ubiquitous ESG moniker from their business filings, fearing that regulators will no longer accept ambiguous representations of environmental, social, and governance investing. It’s the latest indicator that Europe’s historic anti-greenwash law is taming a sector that grew to over $35 trillion in value last year. The Sustainable Finance Disclosure Regulation went into effect in March, but European fund managers had already removed the ESG designation from $2 trillion in assets in anticipation of tougher restrictions. Read more
ESG Investing is gaining Momentum in India
Environmental, social, and governance (ESG) investing is gaining traction in underdeveloped economies, particularly in light of the COVID-19 epidemic, which has increased global uncertainty. Companies with strong ESG credentials are perceived as performing well financially, with share values rising significantly in comparison to their competitors. This suggests that ESG is becoming more integrated into asset pricing. In developing economies, there is a growing appreciation for environmental, social, and governance (ESG) investments, particularly in times of increased globalisation. In India, ESG investing has been progressively gaining traction over the last five years, but initiatives are still in their infancy. Large asset management companies (AMCs) in India have introduced schemes that place a strong emphasis on environmental, social, and governance (ESG) factors. Between 2020 and 2021, the sustainability-themed index NIFTY ESG 100 outperformed the NIFTY 100 in stock indices. Furthermore, in order to achieve steady, long-term risk-adjusted returns, pension funds have begun to incorporate ESG concerns. Read more