JICA signs loan agreement with TCCL for climate change management project

The Japan International Cooperation Agency (JICA) recently signed a loan agreement with Tata Cleantech Capital Limited (TCCL) for up to Japanese Yen 10 billion for the “Climate Change Management Project” in India. According to ANI reports, this loan will be provided through JICA’s private sector investment finance program. In addition, it co-finances with the Sumitomo Mitsui Banking Corporation.

The JICA press release stated, “On March 25, JICA signed a loan agreement of up to 10 billion yen with the Indian non-bank financial corporation, TCCL, to help the company to offer loans to companies in India that focus on renewable energy. generation, electric vehicles (EV) as well as energy efficiency according to the principle of the green loan ”. He added: “The Indian government ratified the Paris Agreement in 2016, in which India pledged to reduce GHG emissions per GDP from 33% to 35% by 2030. In order to meet the target, the Indian government is promoting mitigation measures such as installation of renewable energy (solar, wind, etc.), low energy equipment and electric vehicles ”.

2021 is a “ crucial year ”

It comes after WWF International Managing Director Marco Lambertini told Xinhua News Agency that 2021 is a “ crucial year ” for climate change and countries have little time to act. and protect the future. Speaking at an event after nations plunge into darkness to mark Earth Hour 2021, the head of the World Wildlife Fund (WWF) International called for “urgent action” to make the world safer positive nature and preserve ecosystems, managing resources by 2030 and raising the hope that the COP15 conference on biodiversity will be held in China. “Now is the time to unite people, to stand up for nature,” WWF international director general Marco Lambertini told Xinhua, adding that 2021 was a ‘super year’ for nature and stability and that world leaders must take decisive action, especially on climate deterioration. .

“There has been shocking new evidence for the state of nature on the planet – One million endangered species, a two-thirds global decline in wildlife populations in less than 50 years, 90 % of overexploited fish stocks in the ocean, ”he said. However, he stressed that the pandemic has aligned the focus on protecting the environment in a better way and has proven that nature conservation is not just an ecological issue. “Because at the end of the day We understand that we depend on nature more than nature depends on us, ”he stressed.

Earlier last month, the UN warned in a report that the world was far from meeting agreed targets to reduce global warming under the Paris Agreement on climate change. UN Secretary-General António Guterres told the meeting of member states in preparation for the annual UN climate conference COP26 that countries have fallen short of the target by staying within the limit of 1 , 5th degree of the Paris Agreement. “We need more ambition, more ambition on mitigation, more ambition on adaptation and more ambition on finance,” said Guterres, describing 2021 as a “crucial year” to fight against climate change.

(Image credits: Unsplash)

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