Global Climate News

India has taken significant steps to enhance farmer welfare through the PM-KISAN scheme, with Prime Minister Narendra Modi set to release the 19th instalment on February 24, 2025, benefiting over 9.8 crore farmers with direct transfers exceeding ₹22,000 crore. The event in Bhagalpur will mark the successful implementation of this initiative over six years. In addition to the financial release, the Prime Minister will inaugurate a Regional Center of Excellence for Indigenous Breeds with an investment of ₹33.80 crore under the Rashtriya Gokul Mission, and a Milk Product Plant at Barauni with an investment of ₹113.27 crore.

US-based The Business Council for Sustainable Energy has highlighted a significant shift in America’s energy landscape, indicating that renewable energy technologies are now essential rather than optional. The recent study emphasizes the readiness of offshore wind energy to meet growing energy demand, projecting it as a crucial part of the U.S. energy mix. The increasing energy demand, driven by population growth and energy-intensive sectors, underscores the necessity to develop various energy sources, particularly offshore wind, which is already operational and contributing to the economy with thousands of jobs and billions in investments.

Côte d'Ivoire authorities must compensate 133 farmers, their employees, and families for losses after forced evictions in Abidjan on February 21, 2024. The evictions removed farms and fishponds belonging to the Agro-Past Eburny association without prior notice, destroying livelihoods. Compensation for losses is estimated at 650 million FCFA, or 1 million euros, but so far, no payments have been made despite commitments from the government. The evictions have left over 300 families in poverty, with many unable to pay for education and health needs.

India and Japan have established a strong partnership emphasizing economic cooperation and sustainable development. The Union Minister of Commerce and Industry, Shri Piyush Goyal, highlighted the collaboration in green energy and manufacturing during the India-Japan Economy and Investment Forum. The partnership aims to bolster manufacturing's share of GDP to 25%, and focuses on renewable energy and high-tech sectors. With Japan's aid, India pursues initiatives in digital technologies and sustainable practices, fostering an innovative environment.

India's Vice President, Dr. Jagdeep Dhankhar, addressed the African-Asian Rural Development Organization conference, highlighting the importance of gender participation in governance. He stressed that climate change is a significant issue stemming from the reckless exploitation of natural resources, with India leveraging technology to empower people and combat these issues. His government has invested heavily in rural development and education, with a goal of making India a developed nation by 2047.

In January 2025, the price of crude oil increased significantly, with the Brent price rising by 8.6% in euros and 7.4% in US dollars. Simultaneously, natural gas prices on the European market saw an increase of 7.0%, setting an average price of 48.3€/MWh. These increases were attributed to various factors, including currency depreciation. Overall, prices of imported raw materials also saw a general rise, impacting multiple sectors.

Taiwan-based 瑞儀光電 has invested over 13.3 billion in building R&D centers and cleanroom facilities to develop wafer-level optical components, incorporating AI smart manufacturing to enhance production efficiency. The company is also implementing energy-saving and carbon-reduction measures using green construction materials. This investment, expected to create around 480 jobs, aims to position 瑞儀光電 as a leader in optics solutions for displays, wearables, automotive, robotics, and biomedical applications.

The EU saw a record-breaking 45.3% of its gross electricity consumption come from renewable energy sources in 2023, marking a 4.1 percentage points increase from 2022. This growth is predominantly driven by wind and solar power, which have expanded significantly over the past decade. Countries like Austria and Sweden achieved more than 75% of their electricity from renewables, with Austria generating 87.8%, primarily from hydro power. These developments highlight the EU's ongoing transition towards sustainable energy sources.

South Africa's Cabinet approved the submission of the Protocol on Integrated Coastal Zone Management (ICZM) in the Western Indian Ocean to Parliament. The Nairobi Convention promotes sustainable biodiversity management and enhances resilience to climate change impacts. This protocol offers opportunities for South Africa to enhance its capacity for climate change mitigation. The adoption was made official on 12 September 2023.

Norway-based TGS reported strong financial performance in Q4 2024, with a significant order inflow of USD 489 million and a total produced order backlog of USD 749 million. The company's full-year pro-forma organic multi-client investments for 2024 reached USD 425 million, with expectations of similar investment levels for 2025. TGS successfully refinanced legacy PGS debt, resulting in a lowered interest rate from 13.5% to 8.5%, and realized approximately USD 35 million in synergies. The company announced an increased dividend payment of USD 0.155 per share, reflecting solid cash flows and a robust financial position.

The US Federal Reserve has acknowledged the financial risks posed by climate change, particularly in light of recent natural disasters such as the California wildfires. Vice Chair for Supervision Michael Barr emphasized the need for the Federal Reserve to focus on climate-related risks to ensure the safety and soundness of banks. The pilot climate scenario analysis conducted was highlighted as an important step in assessing the impact of severe weather events on financial stability and guiding banks in their risk management practices.

Brazil's President Luiz Inácio Lula da Silva announced the commitment to achieve zero illegal deforestation by 2030 during an interview on February 20. He emphasized that the country could expand food production without environmental harm, mentioning the recovery of 40 million hectares of degraded land for agriculture. Lula's administration aims to meet both food security needs and global market demands without resorting to deforestation. He stated, "The world wants to eat, and Brazil can provide food without needing to deforest anything."

US Energy Information Administration has reported a 10% increase in residential energy expenditures for homes heating with natural gas and propane for the current winter compared to last winter. Originally, they expected households to spend between 2% less or 7% more depending on the weather. However, the colder temperatures and increased energy prices resulted in higher than expected expenditures.

US-based CenterPoint Energy has reported a 50% forecasted increase in electric load demand in its Houston Electric service territory by 2031. The company has increased its 10-year capital investment plan to $47.5 billion, which includes $500 million specifically aimed at enhancing grid resiliency. CenterPoint's President & CEO, Jason Wells, emphasized the progress made towards building a resilient coastal grid and the upcoming Systemwide Resiliency Plan, which is set to strengthen their network further and support regional economic growth.

The European Central Bank (ECB) has significantly increased sustainable investment in its own funds portfolio, raising the share of green investments from 20% in 2023 to 28% in 2024. The ECB has committed to further enhancing this share in the upcoming years. Additionally, they released climate-related financial disclosures, aiming to align their investments with European climate goals and ensure the integration of climate risks into their risk management framework. In 2024, another climate stress test was conducted, ensuring continued evaluation of the ECB’s economic resilience to climate-related shocks.

The EU reported that domestic producer prices for energy increased by 1.3% in December 2024 compared to the previous month, while they decreased by 1.4% from December 2023. This signifies a dramatic increase of 80.3% in energy prices over the period from January 2021 to December 2024. Notably, the prices for electricity and gas supply rose by 1.6% in December 2024, compared to November 2024, yet saw a slight drop of 0.4% against December 2023. Additionally, extraction prices for crude petroleum and natural gas climbed by 1.6% and 7% respectively over the same timeframe.

Iceland received 1,581 thousand tons of waste from processing companies in 2022, with 1,420 thousand tons recovered in some manner. The amount of waste disposed of in landfills was 147 thousand tons, representing 9.3% of the total. The largest part of the materials sent for processing were earth materials, predominantly used as filling material, which counts as recovery. The registered amount of material sent to landfill has been around 200 thousand tons annually since 2014, with a notable decrease since 2019, especially regarding mixed household waste.

Thailand-based Unithai Group and CUEL organized the charity run event "UNITHAI-CUEL Run for Charity 2025, 3rd edition" on February 16, 2025, at Nongnooch Garden in Pattaya, Chonburi. The event raised net proceeds of 1,400,000 baht, which will be donated to the Queen Savang Vadhana Memorial Hospital, Thai Red Cross Society, Sriracha. The run aimed to raise awareness about health care and support cancer patients while encouraging participants to exercise for better health. This initiative aligns with Unithai's commitment to sustainable business practices and community development.

South Africa launched the G20 Employment Working Group, emphasizing a transformative agenda rooted in climate change and sustainable development. Hon. Ms. Nomakhosazana Meth highlighted the prioritization of mobilizing finance for a just energy transition and increasing climate finance flows to developing economies. The discussions will focus on significant proposals, including addressing youth employment and promoting gender equality, while ensuring that measures for development do not compromise sustainability.

UK-based researchers from the Grantham Research Institute on Climate Change and the Environment at LSE and Columbia University found that a government subsidy for indoor air pollution monitors could save the UK up to £40 billion a year. Their study highlighted that increased productivity and reduced healthcare costs from improved indoor air quality could offset the subsidy cost. The study involved nearly 150,000 hours of data collection from households in Camden, showing significantly reduced indoor PM2.5 pollution due to real-time feedback from monitors.