FAST FACTS
The proceeds of a green bond are directed towards a green project, assets or expenditures.
Green bond standards for agriculture were recently released.
Individual farmers can already play a proactive role in this new world of green finance.
The Intergovernmental Panel on Climate Change (IPCC) released its latest climate report in August this year, and the picture it paints is grim. According to the report, there is now scientific consensus that climate change is linked to more frequent droughts and floods, and an increase in intensity of these climatic events. However, the report also states that the situation can be turned around if we take swift action to drastically reduce the emission of carbon dioxide and other harmful gases into the atmosphere.
In May of this year, the International Energy Agency released its ‘Net Zero 2050’ report, which describes a pathway to achieve zero emissions by this date. The takeaway from the report is that in order to achieve emissions targets, no new coal- or gas-power-generation utilities can be developed. Aggressive phasing out of current coal and gas is also recommended. The report sets ambitious milestones: by 2030, all old coal power stations should be decommissioned, and by 2040, the remaining coal and gas utilities must be retrofitted. By 2050, 90% of all energy should be generated through renewable sources.
GREEN FINANCE
This story is from the October 08, 2021 edition of Farmer's Weekly.
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This story is from the October 08, 2021 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
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