Finance Minister Nirmala Sitharaman said in a written response to a question in Lok Sabha on Monday that while the economy has slowed down, India is still the fastest growing country among the G-20 nations. Sitharaman said that India is still projected by the International Monetary Fund to be the fastest growing G-20 country in 2019-20.
She also stated that the government is taking several measures to counter the slowdown. “The government has been taking several measures to address moderate levels of fixed investment rate in the economy, plateauing of private consumption rate and a modest export performance, with a view to increasing the GDP (gross domestic product) growth,” Sitharaman said.
The finance minister said in her statement that the government has been engaging with various stakeholders to understand their concerns and to take appropriate measures. She added that the administration has also kept inflation low, managed fiscal spending and current account deficit to ensure macroeconomic stability. Click here to read more.
Four years after pledging to limit global warming to no more than 2°C above pre-industrial levels, representatives of nearly 200 countries are meeting this week to put the finishing touches to the 2015 Paris climate accord.
Discussions at the annual United Nations’ climate conference, COP25, are expected to focus on international carbon markets, which have the potential to reduce the overall cost of global climate-mitigation efforts.
But the talks, which start today in Madrid and last until 13 December, also take place against a backdrop of shifting geopolitics that has created uncertainty over who will lead global efforts to tackle climate change, and of intensifying public pressure on governments to take action.
Despite pledges to curb emissions, atmospheric greenhouse-gas concentrations reached a new peak in 2018, the World Meteorological Organization said last week. A UN climate report released on 26 November warns that the Paris agreement’s 2 °C goal might soon be out of reach as emissions continue to rise.
“Remaining countries must reassert their will to get on, and accelerate the pace of action, despite mounting challenges,” says Bob Ward, policy and communications director at the Grantham Research Institute on Climate Change and the Environment in London. Click here to read more.
Demand for sustainable impact investments has grown exponentially over the past decade. Morgan Stanley reports in 2017 that 75% of individual investors were interested in an ESG (Environmental, Social and Governance) approach, and among these investors, 84% of women and 86% of millennials are leading this demand. The Forum for Sustainable and Responsible Investment and Global Sustainable Investing Alliance reported sustainable investing assets reached nearly $12 trillion in 2018 in the U.S., and $30 trillion globally.
“It’s no longer a fad. Everyone wants to do this,” said Durreen Shahnaz, founder and CEO of Singapore-based Impact Investment Exchange, or IIX, a social stock exchange and the world’s largest impact investment private placement platform. Investors are realizing that caring for the environment, or gender equity or social justice actually informs sound investment strategies and helps reduce risks, according to Audrey Choi, who is the chief sustainability officer and chief marketing officer at Morgan Stanley. Choi is also the CEO of Morgan Stanley’s Institute for Sustainable Investing, which seeks to scale solutions to address global challenges through private capital. Click here to read more.