Philippines to Host Loss and Damage Fund, World Bank Supports India's Green Hydrogen, European Companies Invest in Carbon Removal Projects in India
Key Ideas
- The Loss and Damage Fund's board chose the Philippines to host the fund in South Korea to address key issues like funding, disbursement, and responsibility for loss and damage from climate change.
- The World Bank approved a $1.5 billion loan to support India's green hydrogen initiatives, including promoting a market for green hydrogen, electrolysers, and increasing renewable energy penetration.
- European carbon removal companies are eyeing investments in projects in India to support carbon dioxide removal initiatives, focusing on methods like reforestation and enhanced weathering to mitigate global warming.
- US President Joe Biden launched federal workplace standards for extreme heat, highlighting the importance of addressing heat-related risks and aiming to reduce injuries and deaths for millions of workers.
At the second meeting of the Loss and Damage Fund's board, the Philippines was chosen to host the fund in Songdo, South Korea. This fund, created by the UN, aims to provide financial assistance for countries to recover from the impacts of global warming. The board is tackling crucial issues such as funding, disbursement, and responsibility for loss and damage from climate change. The World Bank approved a $1.5 billion loan to support India's green hydrogen initiatives, promoting the market for green hydrogen, electrolysers, and enhancing renewable energy penetration. Additionally, European carbon removal companies are looking to invest in carbon dioxide removal projects in India, focusing on methods like reforestation and enhanced weathering. On a different note, concerns were raised about a proposed coal mine project in the Mirzapur forest of Uttar Pradesh, endangering protected wildlife species. Lastly, US President Joe Biden introduced federal workplace standards for extreme heat, emphasizing the need to address heat-related risks and reduce injuries and deaths for millions of workers.