Opinion Articles

From Green to Governance Understanding the Full Scope of Sustainable Financing

Prof (Dr) Shalini Verma 'Lifoholic' In an era where sustainability has become a paramount concern, the financial sector is increasingly aligning itself with environmental, social, and governance (ESG) principles to drive positive change. This integration, known as sustainable financing, is reshaping the landscape of investments and business decisions. By encompassing a broad spectrum of activities aimed at fostering sustainability, including green financing, climate financing, social financing, and governance financing, sustainable financing ensures a comprehensive approach to addressing global challenges. However, it is essential to understand that green or climate financing is merely a subset of this expansive field, specifically targeting projects that benefit the environment or address climate change. This article delves into the nuances of sustainable financing, highlighting its broad applications and the distinct role of green and climate financing within it. 'Sustainable financing' refers to financial services integrating environmental, social, and governance (ESG) criteria into business or investment decisions to achieve sustainable outcomes. It encompasses a broad range of activities aimed at fostering sustainability, including green financing, climate financing, social financing, and governance financing. While 'Green financing ' or 'Climate financing' is just a subset of 'sustainable financing' focused specifically on projects that benefit the environment or address...

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06 Jul 2024
Opinion Articles

Tackling Water Crisis Through Community Engagement

Prof (Dr) Shalini Verma 'Lifoholic'   The climate crisis is a water crisis – we must act fast. The extreme climate conditions and the broader implications of climate change pose significant threats to rural India’s sustainability and livelihoods. Addressing this crisis requires a multifaceted approach, emphasising water conservation, sustainable agricultural practices, and the creation of rural employment opportunities. Raising awareness and implementing focused policies on these fronts are crucial steps towards mitigating the impact of the water crisis and ensuring long-term sustainability for the region. Maharashtra, for instance, is grappling with a severe water crisis as the water levels in dams across the state have plummeted to just 32.72% of their total storage capacity. Pune, one of Maharashtra's major cities, is significantly impacted. According to the Hindustan Times, its four crucial dams—Khadakwasla, Temghar, Panshet, and Varasgaon—currently hold only 10.31 TMC (thousand million cubic feet) of water, a stark decline from 12.91 TMC on the same day last year. The primary cause of this alarming drop is this year's insufficient rainfall. As temperatures rise, the severity of water scarcity intensifies. Villages across the state are struggling to access water, leading to a surge in the demand for water tankers. The Pune...

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16 Jun 2024