Climate Change Current Affairs - 2020

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Carbon Disclosure Project: India ranks 5th

On January 21, 2020, the Carbon Disclosure Project, an annual report on carbon reduction activities of different countries and their firms was released by a non-profit organization Global Reporting Initiative. According to the report, the countries were ranked based on their corporate responsibilities of carbon reduction. In order to assess the role played by them, their science-based targets were weighed.

Highlights

According to the report, 58 Indian companies disclosed their environment related activities to the organization. Based on their disclosure, the report concludes that 98% of the top Indian companies have now formed committees to address climate related issues. The change has been witnessed between 2018 and 2019.

United States topped the list with 135 companies being transparent in their disclosure. Followed by US, Japan ranked second with 83 companies. On the third, fourth and fifth ranks were UK (78), France (51) and India (38) respectively.

The report said that, over 6,900 companies have so far disclosed their data through Carbon Disclosure Project. This contributes to 55% of world capitalization.

Global Reporting Initiative

The Global Reporting initiative helps businesses, organizations and governments to understand the impacts of climate change, corruption and human rights.

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WEF: Global Risks Report, 2020

On January 15, 2020, the World Economic Forum released its Global Risks Report. Under the report, the Forum has identified the global risks.

Top Risks

The top 5 Global risks according to the report are as follows

  • The Forum reported that Climate-related risks had the greatest likelihood of severe impacts.
  • The other threats include geopolitical turbulence. The retreat from multilateralism has threatened the ability of the world to deal the global risks.
  • The current economic stagflation according to the report will increase. This might even lead to increased social issues, protests, increased populists movements.
  • Though the Digital Technology is in its peak of evolution, the unequal access of the technology across the globe will increase.
  • The social demographic, environmental and technological pressure on health systems is growing.

Top Highlights of the Report

The Report has listed 5 top risks in the terms of Likelihood and in terms of Impact. The global risks in terms of likelihood includes extreme weather, climate action failure, natural disasters, biodiversity losses and human-made environmental disasters. For the first time in the history of the report, all the five risks of likelihood is climate-related.

The Global Risks in terms of impacts include climate action failure, weapons of mass destruction, biodiversity losses, extreme weather and water crisis.

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