Climate Change
India among world's top 10 for climate tech investment: Report
India ranks ninth in the list of top 10 countries for climate technology investment over the past five years and Indian climate tech firms received USD 1 billion in venture capital (VC) funding from 2016 to 2021, according to a new report released in London on Tuesday.
'Five Years On: Global climate tech investment trends since the Paris Agreement', by London & Partners and Dealroom.Co, analysed the trends in the sector since the last United Nations Conference of Parties (COP) in Paris and ahead of the COP26 summit in Glasgow next week.
It found that venture capital investment into climate tech companies globally has skyrocketed since the Paris Agreement, with the US and China leading the global top 10 with USD 48 billion and USD 18.6 billion investment between 2016 and 2021 respectively. The UK comes in at No. 4 with USD 4.3 billion after Sweden at USD 5.8 billion.
"Countries around the world need to work together so that we can collectively change business practices and commit to net zero emissions," said Hemin Bharucha, Country Director India, London & Partners - London's business growth agency.
"The global tech industry plays a pivotal role in accelerating this global transformation and this is demonstrated in the rapid growth of VC investment into global climate tech companies. It is fantastic to see the UK and India among the top 10 countries for climate tech investment globally, with London leading the way in Europe for the number of climate tech companies and dedicated VC funds," he said.
Read: EU lauds Bangladesh’s leadership on climate front
The global top 10 is completed by France at No. 5 (USD 3.7bn), Germany at No. 6 (USD 2.7bn), Canada at No. 7 (USD 1.4bn), the Netherlands at No. 8 (USD 1.3bn) and Singapore tenth (USD 700m), after India.
Overall, global climate tech VC investment soared from USD 6.6 billion in 2016 to USD 32.3 billion in 2021, an increase in funding by almost five times.
According to the report, which analyses technology companies working to reduce Greenhouse Gas emissions or addressing the impacts of climate change, 2021 investment levels have already exceeded the whole of 2020 for global climate tech investment, demonstrating the importance of the global tech industry in the fight against climate change.
Europe is found to be the fastest-growing region globally for climate tech, with European VC investment into climate tech firms seven times higher this year than in 2016 (up from USD 1.1 bn to USD 8bn).
In Europe, London is described as one of the world's most advanced ecosystems for climate tech, with its start-ups raising USD 3.3 billion since 2016, accounting for 16 per cent of Europe's total. London is also home to 416 climate tech companies, the biggest cluster in Europe.
"The UK is well on its way to becoming a climate tech powerhouse thanks to its combination of world-leading research, thriving ecosystem and creative entrepreneurs that are using technology to solve the most pressing issue in our lifetime," said Remus Brett, Partner at VC firm LocalGlobe.
Read: COP26 president-designate visited Bangladesh to see climate crisis firsthand
"It's no wonder then that investors across Europe and the world are taking note of the startups and scaleups being created in London and the rest of the country. With sustained investment and the right support, these companies will have the tools they need to successfully reduce greenhouse gas emissions and fight the climate crisis," he said.
Growth in climate tech is being driven by significant investment into transportation and energy solutions, accounting for a combined total of 78 per cent of global climate tech investment in 2021. A similar trend is reflected in London, with 60 per cent of VC investment into climate tech going into energy companies, while enterprise software, circular economy and food start-ups are also attracting an increasing share of investment.
London ranks second globally behind the San Francisco Bay Area for number of funding rounds raised by climate tech start-ups, demonstrating an active early-stage ecosystem in London, according to London & Partners.
The city's promotional agency added that climate tech start-ups in London also have access to deep pools of dedicated climate tech capital, with the city home to 18 dedicated climate tech VC firms, more than anywhere else in Europe.
Australia to keep supporting Bangladesh in combating climate change: Envoy
Australian High Commissioner to Bangladesh Jeremy Bruer has said Australia and Bangladesh will work together to combat climate change.
“Australia's support to Bangladesh in the field of low carbon technology transfer, renewable energy, clean energy, climate adaptation and mitigation activities will continue,” he said.
Jeremy Bruer said this in a meeting at the Environment Ministry on Tuesday between Environment, Forest and Climate Change Minister Md. Shahab Uddin and an Australian delegation led by the High Commissioner.
Also read: COP26 president-designate visited Bangladesh to see climate crisis firsthand
The High Commissioner appreciated various initiatives taken by Bangladesh to fight climate change, according to an official release.Secretary to the Ministry of Environment, Forest and Climate Change Md. Mustafa Kamal, Additional Secretary (Admin) Iqbal Abdullah Harun, Additional Secretary (Development) Ahmad Shamim Al Razi, Additional Secretary (Climate Change) Sanjay Kumar Bhowmik were also present in the meeting.
Also read: 'Turn pledges into action': Hasina's clarion call to combat climate change
The Environment Minister said that as the President of CVF and V20, Bangladesh is playing an important role in international arena to tackle climate change.
He said Bangladesh submitted enhanced Nationally Determined Contribution (NDC) and announced Mujib Climate Prospect Plan and the work of National Adaptation Plan (NAP) is underway.
The Environment Minister expressed hope that the world leaders will reach the consensus of providing 100 billion US dollars for climate vulnerable countries.
CSOs demand inclusive process from govt to Strengthen Country Interest at CoP 26
Civil society organizations (CSOs) on Thursday called for an inclusive process from the government to strengthen country’s interest in the upcoming UN climate conference CoP 26.
In a virtual seminar on Thursday, they also opined that, as one of the Most Vulnerable Countries (MVC), Bangladesh should adopt a firm stance in support of a legally binding commitment under the Paris Agreement in order to secure additional funding for improved adaptation activities and to avoid recurrent loss and damage.
Read:'COP26 outcomes crucial for climate-vulnerable countries like Bangladesh
The online seminar titled “CoP-26: Government position and CSO perspectives” was jointly organized by COAST foundation, An Organization for Socio-Economic Development (AOSED), Centre for Participatory Research & Development (CPRD) Coastal Development Partnership (CDP) and Coastal Livelihood and Environmental Action Network (CLEAN) and Equity and Justice Working Group, Bangladesh (EquityBD).
Coast foundation also hosted an online session titled "CoP-26: Government Position and CSO Perspectives" during the seminar.
Saber Hossain Chowdhury MP and the Chair of Parliamentary Standing Committee on Environment, Forest and Climate Change Ministry was the Chief Guest, while Asheq Ullah Rafiq MP Cox's Bazar-2 was the Special Guest in the seminar moderated by Rezaul Karim Chowdhury of EquityBD.
Syed Aminul Hoque from EquityBD presented the key note paper of the seminar.
Syed Aminul Hoque said that, the CoP 26 is crucial since it will take a main stocktake on newly submitted Nationally Determined Contributions (NDCs), establish the Loss and Damage Mechanism, and providing $100 billion in Green Climate Fund (GCF).
In this context, Bangladesh's government should play a critical role in safeguarding the country's interests, particularly in protecting vulnerable people and reducing the effects of regular loss and damage caused by climate change.
He addressed a number of demands to the government delegation, including, Continued revision of NDCs by developed and polluter countries based on their fair contribution and economic volume in order to keep global temperature below 1.5 degrees Celsius, Developed countries must secure additional funding beyond the GCF to mitigate and adapt to loss and damage.
Saber Hossain Chowdhury stated that Bangladesh will undoubtedly play an effective part in CoP 26 in order to divert the negotiation flow in the country's favour. ‘Apart from that, our prime minister will participate and speak out openly to encourage developed countries to adhere to realistic GHG reduction targets and to get $100 billion in GCF funding,” he added.
“We have drafted a country position for CoP 26 and are coordinating issues among government officials,” said Mirza Sawkat Ali, Director of Department of Environment,
He also said, “the government's position has primarily focused on finance and technology, and we will endeavour to reach a consensus to balance the GCF fund for adaptation by 50 per cent. CSOs should also be considered separately.”
Among others, Md. Shamsuddoha of CPRD, Rabeya Begum, Co-Chair of CANSA-BD, Md. Jahangir Hossen Masum of CDP, Mohan Kumar Mondal of LEADERS, Shamim Arefin of AoSED-Khulna, Hasan Mehedi of CLEAN, Kawser Rahaman of Janakhanta spoke on the occasion.
COP26 president-designate visited Bangladesh to see climate crisis firsthand
British politician Alok Sharma, set to preside over COP26, visited Bangladesh recently and discussed shared priorities with Bangladesh, which he said remains a "crucial" partner on the road to COP26.
He discussed the needs of countries most vulnerable to climate change, to ensure they are equipped to deal with its current and damaging effects ahead of COP26.
The COP 26 UN Climate Change Conference, hosted by the UK in partnership with Italy, will take place from October 31, 2021 in the Scottish Event Campus (SEC) in Glasgow, UK.
Also read: Sundarbans plays role as a carbon sink: Alok Sharma
The COP26 President-Designate also welcomed strong climate commitments from Bangladesh during his visit.
“The next decade will be make, or break, for our planet, and effective global collaboration will be vital to tackling the pressing challenges the world faces. So I am delighted to have witnessed UK-Bangladeshi climate partnership in action, and heard such positive ambition from my Bangladeshi friends," he said.
“I am inspired by the innovative work I have seen here to address some of the worst effects of climate change, and hope that Bangladesh will continue to lead by example ahead of COP26 which is our best hope of building a brighter future.”
The COP26 President-Designate Alok Sharma also visited Sundarbans on June 3 this year.
He visited the WildTeam Conservation Biology Centre (WCBC) in the Sundarbans.
The British High Commissioner to Bangladesh, Robert Chatterton Dickson, and his other colleagues from the UK accompanied them.
Also read: COP26 outcomes crucial for climate-vulnerable countries like Bangladesh'
During his visit he came to know about WildTeam’s pioneering work with the Forest Department in Tiger Conservation through engaging the local communities. The tiger population has rebounded slightly - at least the decline has been halted.
The number rose to 114 in 2018, up from 106 recorded in 2015.
Mr Sharma met with the Village Tiger Response Team (VTRT) members, and the TigerScouts. In 2007 WildTeam formed the VTRT by engaging the communities for managing human-tiger conflict. WildTeam also formed BaghBandhus (tiger ambassadors) to improve community engagement and raise awareness within the community.
WildTeam, with the support from USAID's Bagh Activity, started Sundarbans Education Centres in five schools around the Sundarbans. With their support TigerScouts were formed with secondary school students from the Sundarbans villages, to educate school children to build an environment friendly future generation.
Mr Sharma, along with the TigerScouts, planted a 'sundari' sapling at WCBC's 'mini Sundarbans'. It is believed that Sundarbans has been named after the 'sundari' (Heritiera fomes) tree that propagates through the forest. The British High Commissioner also planted a sapling.
WildTeam built WCBC with the support of IUCN-KfW to engage the communities to manage the natural resources in a sustainable way. Due to increasing salinity, there is an acute shortage of drinking water in the area.
WildTeam, with the support from a philanthropist, built a desalination plant at WCBC premises. The VIP guest visited the plant, and witnessed how local people left containers to collect sweet water from this plant.
During his visit to Bangladesh Mr Sharma met Prime Minister Sheikh Hasina, and other government ministers, and youths to discuss climate issues. A joint statement on UK-Bangladesh climate action was signed, which is a foundation for a long-term climate partnership. It is understood that the climate talks will be the biggest international summit the UK has ever hosted, bringing together over 30,000 delegates including heads of state, climate experts and campaigners to agree coordinated action to tackle climate change.
The COP26 president ended his 2-day Bangladesh visit by saying:
“The next decade will be make, or break, for our planet, and effective global collaboration will be vital to tackling the pressing challenges the world faces. So I am delighted to have witnessed UK-Bangladeshi climate partnership in action, and heard such positive ambition from my Bangladeshi friends.”
Climate change makes drought recovery tougher in U.S. West
Californians rejoiced this week when big drops of water started falling from the sky for the first time in any measurable way since the spring, an annual soaking that heralds the start of the rainy season following some of the hottest and driest months on record.
But as the rain was beginning to fall on Tuesday night, Gov. Gavin Newsom did a curious thing: He issued a statewide drought emergency and gave regulators permission to enact mandatory statewide water restrictions if they choose.
Newsom's order might seem jarring, especially as forecasters predict up to 7 inches (18 centimeters) of rain could fall on parts of the Northern California mountains and Central Valley this week. But experts say it makes sense if you think of drought as something caused not by the weather, but by climate change.
Read: Wildfires rage as US West grapples with heat wave, drought
For decades, California has relied on rain and snow in the winter to fill the state's major rivers and streams in the spring, which then feed a massive system of lakes that store water for drinking, farming and energy production. But that annual runoff from the mountains is getting smaller, mostly because it's getting hotter and drier, not just because it's raining less.
In the spring, California's snowpack in the Sierra Nevada mountains was 60% of its historical average. But the amount of water that made it to the reservoirs was similar to 2015, when the snowpack was just 5% of its historical average. Nearly all of the water state officials had expected to get this year either evaporated into the hotter air or was absorbed into the drier soil.
“You don’t get into the type of drought that we're seeing in the American West right now just from ... missing a few storms,” said Justin Mankin, a geography professor at Dartmouth College and co-lead of the Drought Task Force at the National Oceanic and Atmospheric Administration. “A warm atmosphere evaporates more water from the land surface (and) reduces (the) amount of water available for other uses, like people and hydropower and growing crops.”
California's “water year” runs from Oct. 1 to Sept. 30. The 2021 water year, which just ended, was the second driest on record. The one before that was the fifth driest on record. Some of the state's most important reservoirs are at record low levels. Things are so bad in Lake Mendocino that state officials say it could be dry by next summer.
Even if California were to have above-average rain and snow this winter, warming temperatures mean it still likely won't be enough to make up for all the water California lost. This past year, California had its warmest ever statewide monthly average temperatures in June, July and October 2020.
Jeanine Jones, interstate resources manager for the California Department of Water Resources, said people should not think about drought “as being just this occasional thing that happens sometimes, and then we go back to a wetter system.”
“We are really transitioning to a drier system so, you know, dry becomes the new normal," she said. “Drought is not a short-term feature. Droughts take time to develop, and they usually linger for quite some time."
Water regulators have already ordered some farmers and other big users to stop taking water out of the state's major rivers and streams. Mandatory water restrictions for regular people could be next.
Read: Why the world should pay attention to Taiwan's drought
In July, Newsom asked people to voluntarily reduce their water use by 15%. In July and August, people cut back 3.5%. On Tuesday, Newsom issued an executive order giving state regulators permission to impose mandatory restrictions, including banning people from washing their cars, using water to clean sidewalks and driveways and filling decorative fountains.
State officials have warned water agencies that they might not get any water from the state's reservoirs this year, at least initially. That will be very challenging, said Dave Eggerton, executive director of the Association of California Water Agencies.
But he said he believes Californians will start to conserve more water soon with the help of a statewide conservation campaign, which will include messages on electronic signboards along busy highways.
“It's going to happen,” he said. “People are starting to get the message, and they want to do their part.”
BYLC to instill leadership skills in 3,000 youths
Bangladesh Youth Leadership Center (BYLC) has joined hands with the Netherlands Embassy in Dhaka to help 3,000 youths develop leadership skills.
On Tuesday, BYLC formally inked a pact with the Dutch Embassy for the phase 2 of its ambitious Building Bridges through Leadership Training (BBLT) and Building Bridges through Leadership Junior (BBLTJ) programmes.
Read:BYLC launches Volunteer Awards 2021
Under the agreement, BYLC will train 3,000 youths from diverse backgrounds, instill in them values of inclusiveness and pluralism, and engage them in active citizenship.
BBLT and BBLTJ participants will design and execute 375 community service projects in local communities and serve 37,500 community people.
They will work to solve critical social issues such as women empowerment, gender equality, climate change, access to education for all, social cohesion and community building, and health and hygiene. Over the next five years, the most promising 60 community service projects will receive scale-up support.
Read: BYLC Youth Leadership Summit 2021 aspires for a more inclusive future
Graduates of the program will have improved leadership skills, social and communication skills, higher-order thinking skills, emotional intelligence, moral understanding, ideological tolerance, public speaking, civic awareness, and project management skills, according to BYLC.
Dutch Ambassador Anne van Leeuwen said, “It is inspiring to see the huge impact of BYLC’s leadership programmes. The BBLT and BBLTJ programmes are the most important initiatives I have witnessed in the short time that I’ve been in Bangladesh.”
On his part, Ejaj Ahmad, founder and president of BYLC, said, “Through this project, BYLC aspires to train the next generation of courageous, compassionate, and competent leaders who will lead Bangladesh into the future and make meaningful contributions in different sectors.”
Read: BYLC Summit: Struggles, challenges of marginalised groups spotlighted at plenary
BYLC’s journey in Bangladesh began in summer of 2008 with the pilot Building Bridges through Leadership Training programme, which was funded by the Davis Projects for Peace Prize and MIT Public Service Center.
Over the past 13 years, the organisation has grown from a small living room project to a thriving institute with 6,000-plus alumni, many of whom have distinguished themselves as successful entrepreneurs and capable professionals in public, nonprofit and private sectors.
Prof Saleemul Huq makes it to global climate change influencers' list
Bangladeshi scientist Prof Saleemul Huq has made it to the coveted list of global climate change influencers.
Prof Huq is the director of the International Centre for Climate Change and Development (ICCCAD) at Independent University, Bangladesh.
He has, in fact, been ranked fourth among the world's top 20 'Climate Change Influencers' by UK-based online marketing platform Onalytica.
READ: 'Turn pledges into action': Hasina's clarion call to combat climate change
In its report, "Environmental Sustainability: A Study into Tech Brands’ Perception & Impact', Onalytica analyzed the influencers' topical influence on Twitter and LinkedIn, "as well as how much they are referenced within blogs and online media".
The influencers on the list reach an engaged audience of two million.
READ: Climate change making dengue an annual affair in Bangladesh: Experts
"We are excited to congratulate Prof Saleemul Huq on his ranking as fourth in the top 20 'Climate Change Influencers' in the world report by Onalytica," the British High Commission in Dhaka said Wednesday.
'Turn pledges into action': Hasina's clarion call to combat climate change
Reiterating the need for reducing global carbon emissions, Prime Minister Sheikh Hasina has called on world leaders "to turn pledges into action" to stave off the worst consequences of climate change.
Showcasing Bangladesh's efforts in the fight against climate change, Hasina hasurged world leaders to join her in fixing the global problem that "requires a great deal of fortitude, imagination, hope and leadership".
"If western leaders listen, engage and act decisively on what science demands of them, there is still time to make COP26 the success it desperately needs to be," she wrote in an article published by leading British daily 'Financial Times'.
Read:'COP26 outcomes crucial for climate-vulnerable countries like Bangladesh'
In the article, "We need a global ‘climate prosperity plan’ not empty pledges", Hasina slammed the developed nations for not taking seriously the needs of those countries most immediately affected by climate change.
"Bangladesh was born 50 years ago this year, a birth shrouded in blood and pain. My father, Bangabandhu Sheikh Mujibur Rahman, inspired and led our independence struggle. It is in his memory that we have named our climate prosperity plan the Mujib Plan," she wrote.
'Climate change is a very different foe from those he faced, but dealing with it requires a great deal of fortitude, imagination, hope and leadership.
"The inconvenient truth of our times is that while action on climate change has never been more urgent and achievable, governments are not cutting emissions fast enough to keep nations such as mine safe," Hasina wrote.
'COP26 outcomes crucial for climate-vulnerable countries like Bangladesh'
The outcome of the 26th United Nations Climate Change Conference (COP26) is crucial for climate-vulnerable countries like Bangladesh, said Centre for Policy Dialogue (CPD).
In less than two weeks, world leaders, government officials, negotiators, and representatives of the private sector and civil society organisations are going to attend the COP26 of the United Nations Framework Convention on Climate Change (UNFCCC).
CPD and the International Centre for Climate Change and Development (ICCCAD) jointly organised the virtual dialogue "Bangladesh's Expectations from COP26" Sunday to shed light on the expectations from the Conference.
Dr Fahmida Khatun, executive director of CPD, and Professor Mizanur Rahman Khan, deputy director of ICCCAD, made presentations at the dialogue.
The study pointed out that the least developed countries (LDCs) are the worst victims of climate change vulnerability. Moreover, the ongoing pandemic has put enormous pressure on climate-vulnerable countries.
In Bangladesh, annual average temperatures increased by 0.64 per cent in 2018, which was 10.20 times faster than the annual average temperature increase of 0.06 per cent in 1961.
Due to floods, Bangladesh is expected to incur losses equivalent to 1.5 per cent of gross domestic product (GDP).
Given these critical consequences, Bangladesh has an active interest in the outcome of COP26.
Five specific agendas are critically important for Bangladesh.
First, ensuring the commitments of major carbon-emitting countries to limit carbon emission; second, scaling up climate funds urgently to support climate-vulnerable countries; third, ensuring the bigger share of climate fund towards adaptation; fourth, finalising the Paris Rulebook to ensure accountability; and fifth, establishing the mechanism for loss and damage.
Read: Hasina’s climate leadership lauded at CVF-COP26 dialogue
Germany offers support to Bangladesh in climate adaptation, energy sector
Germany on Sunday said it is ready to cooperate with Bangladesh, particularly in the areas of climate change and energy sector. Newly-appointed German Ambassador to Bangladesh Achim Troester said this when he paid a courtesy call on Prime Minister Sheikh Hasina at her official residence Ganobhaban. After the meeting, Prime Minister's Press Secretary Ihsanul Karim briefed reporters.
Read:Rohingyas a huge burden for Bangladesh: PM The German envoy mentioned that the two countries are passing 50 years of their diplomatic ties and their bilateral relations are excellent. Achim Troester appreciated Bangladesh’s overall development and the Bangladesh government’s mechanisms to tackle the Covid-19 situation successfully. The death rate is relatively lower compared to many other countries, he said. In reply, the Prime Minister highlighted various measures taken by her government to check the Corona pandemic and said some six crore people have so far been vaccinated in Bangladesh with single and double doses together.
Read: Ensure fire safety in high-rise buildings: PM On the climate change issue, Hasina said Bangladesh has started the adaptation and mitigation programme with its own resources. Recalling with gratitude Germany's cooperation during Bangladesh's Liberation War in 1971, she said many German families adopted "war babies" after the Liberation War. Ambassador-at-Large Mohammad Ziauddin and Principal Secretary Dr Ahmad Kaikaus were present.