Latest news with #NDC
Straits Times
16 hours ago
- Business
- Straits Times
Clean-tech investment could boost China's economy, cut emissions and achieve 2035 development goals, study finds.
Rows of solar panels are seen during installation at a photovoltaic project in Qingdao, in eastern Shandong province. PHOTO: AFP SINGAPORE – China is on the cusp of a clean-energy-led economic revolution that could not only achieve the government's 2035 development goals but also slash air pollution and carbon emissions in a global win for fighting climate change, researchers say. To get there, Beijing needs to enact policies that ramp up investment in renewable energy and green-technology manufacturing and innovation as well as set ambitious emissions reduction targets for the next decade, Helsinki-based Centre for Research on Energy and Clean Air (Crea) said in a report published on June 19. Decisions made over the coming months will be key, the authors said. China's clean energy industries could double in value by 2035, adding US$2.1 trillion (S$2.7 trillion) to the economy, if the country and the world's other large markets follow emissions targets aligned with the United Nations Paris Agreement, the planet's main climate pact. China is already the world's top investor in renewable energy. Sustained green investment will make an important contribution to China's target of becoming a 'moderately prosperous' country in a decade, delivering one- fifth of the targeted gross domestic product growth in 2035, the authors said. Achieving a moderately prosperous economy is a key goal for Beijing , and to achieve this would mean doubling China's GDP from 101.6 trillion yuan (S$18. 15 trillion) in 2020 to more than 200 trillion yuan by 2035. 'The next decade will be critical in deciding whether China can seize the economic and strategic advantages of clean energy sectors and lead the world into a new phase of high-quality, innovation-led development,' said Ms Belinda Schaepe, China policy analyst at Crea and a co-author of the report . The government needs to set out ambitious policy targets in China's 15th Five-Year Plan covering 2026 to 2030, and in its climate action plan out to 2035 that it must submit to the United Nations in 2025, she added . The climate plan, called a nationally determined contribution (NDC), is mandatory for all parties to the Paris Agreement . NDCs are submitted every five years and are meant to be more ambitious than the previous one. 'Weak targets, by contrast, risk slowing China's momentum, creating uncertainty, and missing a historic opportunity to lead the global energy transition,' said Ms Schaepe . China needs to submit its NDC by the UN COP30 climate talks in Brazil in November . Beijing has already said the NDC will cover the entire economy and all greenhouse gases, a first for the country. The potential of the clean-energy sector to transform the economy is already apparent. In 2024, the sector, which includes electric vehicles, EV batteries, wind turbines and solar cells and modules, accounted for 10 per cent of GDP and 25 per cent of GDP growth, overtaking the value of real estate sales for the first time. And China is continuing its record-breaking renewable energy investment, adding 124.9 gigawatts (GW) of wind and solar capacity in the first four months of 2025, according to Sydney-based think-tank Climate Energy Finance, based on data from China's National Energy Administration. By April 2025, China had 1,533 GW of wind and solar capacity, far ahead of any other nation, helping to reduce its dependence on polluting coal. In 2024, China's carbon dioxide (CO2) emissions declined year-on-year for the first time despite strong electricity demand growth. 'China's unprecedented clean energy expansion was the primary driver in reducing emissions, offsetting the increase in emissions from other industrial sectors,' the authors noted . 'Beyond economic contributions to China's GDP, clean energy sectors could also cut China's emissions by 30 per cent compared with current levels,' they added . This is key because China is also the world's top CO2 polluter and coal consumer and what it decides on energy and economic policy will affect the global pace of climate change for years to come. China's rapid expansion of clean-energy investment and production overseas will also help reduce global emissions growth, while also boosting the economy at home. 'The clean energy sectors stand poised to both lead China's economic prosperity and drive down the country's CO2 emissions,' said co-author Lauri Myllyvirta, lead analyst at Crea. But if momentum in these sectors were to slow, they could instead become a drag on the economy and also curb emissions reductions, he added. David Fogarty is deputy foreign editor at The Straits Times and senior climate writer. He also covers the environment, in areas ranging from biodiversity to plastic pollution. Find out more about climate change and how it could affect you on the ST microsite here.
Time of India
2 days ago
- Business
- Time of India
Stakeholders to set aside 1% to boost natural diamonds
Surat: In a landmark move to boost the appeal of natural diamonds across the globe, top natural diamond mining, manufacturing and marketing players signed the Luanda Accord on Wednesday, in Luanda, the capital of Angola. Tired of too many ads? go ad free now Stakeholders jointly agreed to contribute the equivalent of 1% of annual revenues from rough diamond sales to a collective marketing initiative. Under pressure due to conflicts between countries, slowing economies and shifting consumer preferences towards lab-grown diamonds, the natural diamond trade is taking various measures to stabilize the market. After a significant drop in the global diamond business, industry leaders are joining hands to secure the industry's interests. This is a significant development for Surat and India. Eight lakh people are employed in the diamond manufacturing industry in the city, while seven lakh more work in the gems and jewellery sector in other cities of the country. The agreement was signed by the governments of Angola, Botswana, the Democratic Republic of Congo, Namibia, South Africa, officials of India's Gem and Jewellery Export Promotion Council, Antwerp World Diamond Centre (AWDC), Dubai Multi Commodities Centre and De Beers Group. The 1% contribution will be channelled through the Natural Diamond Council (NDC), which will take the lead in designing and executing a global generic marketing strategy aimed at enhancing consumer awareness and demand for natural diamonds. "Implementation details, including the mechanisms for making these contributions, will be finalized after legal review. Each participating govt will work in coordination with industry representatives to establish suitable arrangements for contributions in their respective jurisdictions," said an official present at the meeting. Tired of too many ads? go ad free now The agreement included that, to ensure transparency and alignment with contributor interests, the governance structure of the NDC will undergo a review. Annual assessments of both financial contributions and the impact of marketing campaigns will be conducted by NDC members. "The Luanda Accord marks a fundamental shift in the way our industry comes together to protect and promote the future of natural diamonds. As the world's largest diamond manufacturing centre, India is proud to stand shoulder to shoulder with African producer nations and global partners," said Shaunak Parikh, vice-chairman, GJEPC. "A unified global marketing push is no longer optional — it's essential. GJEPC remains deeply committed to this shared vision and is ready to contribute actively to the next chapter of sustainable growth for our industry," Parikh added. "The signing of the Luanda Accord marks a historic moment of unity in our industry. After a year of collaboration with African diamond-producing nations and global partners like the GJEPC and DMCC, we've committed to collectively fund and promote natural diamonds. This is a powerful step toward a stronger, more sustainable future for our industry — and I'm proud of the leadership role the AWDC played in making it happen," said Ravi Bhansali, vice-president, AWDC.
Hindustan Times
3 days ago
- Politics
- Hindustan Times
Restoring forests key to carbon capture: Govt paper
The largest potential of creating additional carbon sinks is through restoration of degraded forests, which have impaired in the last 15 to 20 years, along with afforestation of open forests, wastelands and agroforestry, according to the National Mission for Green India document released by the environment ministry on Tuesday. Restoration of natural forests through plantations can contribute up to 60% of the total carbon sink which can be achieved by 2030, the report released on the occasion of World Day to Combat Desertification and Drought by union environment minister, Bhupender Yadav has said. It is also indicated by the Forest Survey of India evaluation that to bring about an increase in carbon sink (CO2 equivalent billion tonnes) by 2.51 and 3.39 by 2030, as committed by India in its nationally determined contribution (NDC) under the Paris Agreement, a corresponding increase of 18.71 and 24.69 million hectares of enhanced forest and tree cover area would be required respectively. The Green India Mission is being implemented during the 10-year period from 2021 to 2030. A part of these plantation activities have already taken place. Annual afforestation/ tree plantation at the current trend of over 2 million hectares should cover another 12 million hectares during 2025-30, the report has said. Ten categories of activities have been considered by FSI for the potential increase in carbon sink and forest cover in the country and include afforestation of impaired forests, open forests, wastelands, agroforestry, setting up of green corridors, undertaking plantations along roads and railways on railway sidings, along rivers and canals and creation of urban green spaces. The National Governing Council of the Mission will be chaired by Union environment minister Bhupender Yadav and the National Executive Council will be headed by the secretary, environment. There will be a Mission Director of the Green India Mission who will be the member-secretary of the National Governing Council. The Mission Directorate chaired by the Mission Director will have overall accountability for the Mission deliverables at the National level and will be supported by a team of experts and secretarial staff, the report said. 'The scale and the magnitude of the national effort required for the restoration of degraded land and an improvement of tree cover would imminently require the proactive involvement of all the stakeholders. An active association and involvement of the private sector will, therefore, be pursued as a strategy for funding some of the interventions under the Mission,' the report stated. It added that private sector can be involved via companies utilising wood and wood-based raw material to develop their supply chain by involving the community through join forest management committees and panchayat bodies; contributions from Corporate Social Responsibility (CSR) funds for restoration of vulnerable and critical areas or adoption of certain villages by supporting committed individuals or groups could act as a feather in the cap for the private entity concerned and by undertaking greening of vacant institutional lands through the institution owning the land. During an event on combating desertification in Jodhpur on Tuesday, Yadav said a significant portion of India's land is facing challenges due to desertification, primarily caused by unsustainable agricultural practices, excessive use of fertilisers like urea, and indiscriminate pesticide application. 'Such practices not only degrade the land but also pose a threat to food security and biodiversity. In line with India's commitment to the UN Convention to Combat Desertification, the government has adopted a comprehensive approach focusing on ecosystem restoration, drought resilience, and biodiversity enhancement. To address the challenges, Centre will focus on: Amrit Sarovars: aimed at rejuvenating water bodies; Matri Van: planting trees in Aravalli region; Ek Ped Maa Ke Naam: a nationwide movement to plant trees,' he said. Garnering the commitment of institutions, both public and private, commercial and non-commercial, can be explored through existing laws and guidelines. State agencies can help these institutions by providing planting material and technical know-how whereas the institution can provide watch and ward and inputs in addition to land. Harvesting of such plantations may be allowed at the request of the owner or user of the land as per their need and request without any liability or compensation, the report has said. The Mission will also focus on highly vulnerable landscapes, including Aravalli landscape, Western Ghats, arid regions of North West India, mangroves in coastal areas, Indian Himalayan region and degraded bamboo forests, on priority for enhancing ecosystem services and carbon sink. The financial outlay under the Mission is ₹12,190 crore for implementation of afforestation activities over 1.0 million hectare during the period of 10 years (2021-30). The Mission costs will be met partly from the budget ( ₹5,000 crore) under the ongoing Green India Mission scheme and balance from funds available under the National Fund of CAMPA ( ₹7,190 crore), the report said. 'Desertification, as we know, is not only an ecological problem, but a direct threat to food security, public health and economic stability. Highlighted that with PM Narendra Modi ji in the lead, India has launched the National Action Plan for Combating Desertification. To date, over 30 crore Soil Health Cards have been generated nationwide, enabling farmers to make informed decisions regarding fertiliser. India has also rolled out the iconic Aravalli Green Wall initiative to combat desertification,' Yadav wrote on X.
Zawya
4 days ago
- Business
- Zawya
TPConnects partners with MaaS Travel & Tours as Iris customer & reseller in Bangladesh
Dubai: TPConnects Technologies, an IATA-certified global travel technology leader, has announced a strategic partnership with MaaS Travel and Tours, a sister concern of the Rhythm Group. This collaboration designates Iris as the preferred aggregator for MaaS Travel and Tours. MaaS Travel and Tours is also the official reseller for Iris in Bangladesh, marking a milestone in TPConnects' expansion into the region. The Iris platform empowers MaaS Travel & Tours to integrate and manage content from diverse sources, including New Distribution Capability (NDC), Global Distribution Systems (GDS), and Low-Cost Carriers (LCC). By consolidating these channels into a single interface, Iris enables seamless shopping, selling, and servicing of air content and ancillaries, ensuring customers access the best fares and products available in the Bangladesh market. Key Benefits of Iris: Unified access to NDC, GDS, and LCC content for comprehensive air offerings. Streamlined booking processes for enhanced operational efficiency. Real-time updates on content availability and pricing for a better customer experience. Automated workflows that optimize booking & servicing experiences. Giuseppe Candela, VP of Global Sales at TPConnects Technologies, stated: "Our partnership with MaaS Travel & Tours marks a pivotal step in modernizing travel distribution in Bangladesh. By leveraging IRIS, they will offer an unparalleled booking experience while enhancing operational efficiency. With their deep market expertise and strong industry presence, MaaS Travel & Tours is the ideal partner to expand our reach and drive innovation in this key market." Shohag Hossain, Managing Director at MaaS Travel & Tours, added: " Partnering with TPConnects Technologies is a transformative moment for us. The Iris platform's ability to aggregate content from multiple sources will elevate our service offerings and provide customers with a seamless booking experience. We are excited to bring this innovative technology to Bangladesh and look forward to a successful collaboration." This partnership underscores TPConnects' vision of empowering travel sellers globally while advancing the modernization of travel distribution systems in emerging markets like Bangladesh. About MaaS Travel and Tours MaaS Travel and Tours, a sister concern of Rhythm Group, is a leading travel organization in Bangladesh, offering comprehensive travel services and solutions. With a strong reputation for excellence and a commitment to customer satisfaction, MaaS Travel and Tours is dedicated to delivering innovative and reliable travel experiences. Established in 1984, MAAS Travel & Tours Limited is one of the pioneers and leaders in the Aviation Representation business in Bangladesh. MAAS Travel & Tours Limited is the General Sales Agent (GSA) of Air India, Vistara, Air India Express, Ethiopian Airlines, and Yeti Airlines in Bangladesh for both passenger and cargo operations. About Rhythm Group Rhythm Group is a diversified conglomerate with a portfolio of 10+ sister concerns, 2 joint ventures, and 30+ internationally leading brands. With millions of satisfied customers and a growing presence across industries, Rhythm Group continues to set benchmarks for excellence in Bangladesh and beyond. Rhythm Group is also the JV partner of Swissport International and TATA Group (Titan Company) as well as the Bangladesh partner of Samsonite and American Tourister luggage brand. About TPConnects TPConnects Technologies is an IATA-certified, global travel content aggregation and distribution technology company. Through twin flagship products – Astra for Arilines (NDC API Gateway and B2B Portal Solutions), and Iris for Travel Sellers (An Aggregator Platform) – TPConnects delivers modern air retailing capabilities that drive technological innovation while helping travel industry players increase revenue, streamline operations, and enhance customer experience. TPConnects is granted Airline Retailing Maturity status under the IATA ARMi programme and has received IATA Financial Gateway (IFG) Certification, underscoring the company's position as a leader in travel retailing innovation. TPConnects is actively expanding its presence in markets with growing demand for modern airline distribution and retailing solutions, leveraging the advantages of the IATA NDC standardization. Travel industry organizations interested in joining TPConnects' International Reseller Program can learn more and apply at For more information about TPConnects, please visit Follow TPConnects on LinkedIn for company information and career postings. For media inquiries, please contact: marketing@
Time of India
4 days ago
- Business
- Time of India
35 tax defaulters with Rs 3.6cr dues to get notices in Gurgaon
Gurgaon: MCG has identified 35 property tax defaulters with collective dues of Rs 3.6 crore and will begin recovery proceedings by issuing notices. This action follows a recent campaign where the civic body served notices to 69 defaulters who owe Rs 18.2 crore in taxes. "In the last two weeks, we gave out 69 notices to the property tax defaulters who owe us Rs 18.23 crore. We will issue 35 notices on Tuesday to ensure recovery of the outstanding property tax dues," said zonal taxation officer Pankaj Kumar. In the current financial year (FY), the property tax revenue projection is pegged at Rs 275 crore, which is less than last FY's projection of Rs 300 crore. In 2024-25, MCG generated an income of Rs 232.9 crore, which was 77% of the projected estimate. Property tax is one of the major sources of revenue besides stamp duty for MCG, which is one of the highest revenue-earning municipal corporations of Haryana. Meanwhile, the Haryana govt has provided relief to property owners by offering a 10% discount on tax for FY 2025-26, provided they pay their entire outstanding property tax by July 31, 2025. Moreover, it is necessary for the property tax data to be self-certified on the no-dues certificate (NDC) portal. Property owners can avail this discount by paying the tax through the NDC Haryana official portal or nearby citizen service centres. If property tax is not paid on time, the govt imposes an annual interest rate of 18% on property tax, and defaulter properties may be sealed and auctioned, officials said.
