The G-7 is gearing up to fund India’s coal-to-renewable transition. But the transition from oil and gas will be a new diplomacy game altogether
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Good morning [%first_name |Dear Reader%],
Before we leave the hip-and-happening World Environment Day (WED) behind and get to the real news, I must scratch one itch.
It’s an appeal to businesses, from dating apps to data centres, credit cards to real estate: please do not send self-congratulatory quotes on the WED.
If you’ve made “green matches” (don’t ask me what that means!) or installed Internet of Things (IoT) or Artificial Intelligence (AI) tech; if you are generating less waste or have instituted green awards, good for you!
But how about more real-world work, too? Or a self-pinch to remind ourselves that climate change brings real financial risk?
On that note, let’s get down to the week’s development.
India is finally getting the attention it deserves from the rich nations as it begins to decarbonise its economy. At the G-7 summit later this month, Germany and the US are expected to propose a special fund to help India make a ‘Just Energy Transition Plan’, or JETP. One of its objectives is to wean India away from coal.