Latest news with #PujaDas
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Business Standard
29-06-2025
- Business
- Business Standard
Brics to take up rare earth export curb issue at leaders summit in July
China controls around 70 per cent of global rare earth elements (REE) mining output and accounts for about 90 per cent of the world's processing and refining of rare earth elements Puja Das New Delhi Listen to This Article The July summit of Brics, which has China as a member, will take up the country's restrictions on exporting rare-earth magnets, according to a top official. Export curbs on rare-earth magnets by China, imposed on April 4, have halted supplies across the globe. Apart from China, the grouping comprises Brazil, Russia, India, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, and Indonesia. China controls around 70 per cent of the mining output of global rare-earth elements (REE) and accounts for about 90 per cent of the world's processing and refining of such products.
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Business Standard
25-06-2025
- Politics
- Business Standard
India tightens security for nuclear installations amid ongoing conflicts
This decision follows Operation Sindoor and rising tensions between Israel and Iran, which are raising concerns over potential nuclear threats Puja Das New Delhi Listen to This Article India is tightening security at its nuclear installations, including power plants, fuel fabrication facilities, civilian research reactors, and military bases. This decision follows Operation Sindoor and the Israel-Iran conflict, which have raised concerns of potential nuclear threats, according to two senior officials. Operation Sindoor was launched by India against Pakistan on May 7 after a terrorist attack killed 26 civilians and tourists in Pahalgam on April 22. On the other hand, the conflict between Israel and Iran escalated on June 13. Last week, a high-level meeting took place in Delhi that included the department of atomic energy, and security agencies
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Business Standard
18-06-2025
- Business
- Business Standard
Moody's says updated climate goals may miss 2°C Paris Agreement aim
Moody's warns updated national emissions targets under NDCs may not limit global warming to under 2°C; credit risks tied to weak execution and external dependencies Puja Das Implementing updated national carbon emissions reduction goals is still likely to fall short of the Paris Agreement's objective of limiting global warming to well below 2°C above pre-industrial levels, Moody's Ratings has warned. The warning assumes significance as the latest carbon reduction goals submitted by governments ahead of the 2025 UN Climate Change Conference (COP30) in November reflect heightened ambition. Credit implications, however, will depend on the pace and rigour of implementation. Achieving absolute global emissions cuts will remain difficult. Should emissions rise following the exit of the US — the world's second-largest emitter — from the Paris Agreement, other advanced economies (AEs) would need to increase their mitigation efforts. This has not been reflected in nationally determined contributions (NDCs) to date, Moody's noted in a report on Tuesday. 'We expect that forthcoming emerging market (EM) emission reduction goals will remain more modest than AE submissions, reflecting their share of global emissions, financing obstacles, the need to address pressing social issues, support the agricultural sector and sustain industrialisation as economies grow. Even if fully implemented, it is unlikely that the updated NDCs would achieve the Paris Agreement goal of limiting global warming to well below 2.0°C,' the agency said. Over 20 countries, including major emitters like Brazil, the US, Canada, Japan and the UK — which together account for one-fifth of global emissions — have submitted updated NDCs. India, along with several other member countries, is yet to submit its third-round NDC or climate action plan to the United Nations Framework Convention on Climate Change (UNFCCC). The revised deadline is now September, ahead of COP30 in November. The UK has submitted one of the most ambitious NDCs; if implemented, it would place the country on track to achieve net-zero emissions by 2050. Other submissions have come from nations with minimal emissions but high climate vulnerability, such as Saint Lucia, the Marshall Islands and the Maldives. As national ambitions grow, more sectors will face exposure to policy, technology and demand risks stemming from the carbon transition. Moody's noted that mitigation activities outside the boundaries of national plans could also increase credit risks in some countries. India, the world's third-largest emitter, faces significant challenges in meeting its climate commitments while continuing to grow economically. On a per capita basis, India's greenhouse gas (GHG) emissions intensity is well below that of the US or China, according to European Commission data. India's overall emissions intensity had fallen by 55 per cent compared to 2005 levels as of 2023 — surpassing its 45 per cent reduction target for 2030. However, emissions could rise again due to growing middle-class demand for electricity and carbon-intensive products and services, alongside further industrialisation. Like many EMs, India's targets are conditional on receiving technological and capacity-building support from AEs, Moody's cautioned. The 2023 global stocktake found that fully implemented second-round NDCs project warming between 2.1°C and 2.8°C. The UNEP Emissions Gap Report last year warned that achieving the 1.5°C target would require up to six times the current levels of mitigation investment and a significant redirection of international climate finance to EMs. The Intergovernmental Panel on Climate Change (IPCC) in 2023 stated that, to keep the 1.5°C target within reach, global emissions must fall by 60 per cent by 2035. Few of the world's highest-emitting countries have raised their 2035 targets to above that threshold. Moody's also flagged that the conditionality of many EM NDCs on external financial, technological or capacity-building support could hinder their implementation. Additional uncertainty from geopolitical tensions affecting trade and financing may further dampen national ambitions and create new obstacles to delivery. Pointers: Credit implications will depend on the pace of implementation Updated NDCs unlikely to achieve Paris goal of staying below 2.0°C
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Business Standard
15-06-2025
- Business
- Business Standard
Auto industry has resilience to tackle rare earth issue: HD Kumaraswamy
The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM, says union minister of heavy industries and steel premium Puja Das New Delhi Listen to This Article With nearly 40 end-user import certificates awaiting Chinese approval, India has been grappling with Beijing's restrictions on rare earth or permanent magnet exports since April 4. Though inventories are estimated to taper off by mid-July for certain automotive applications, HD Kumaraswamy, Union minister of heavy industries and steel (MHI), in an interview with Puja Das in New Delhi, says the Centre is actively working with industry associations to resolve the issue at the earliest. Edited excerpts:
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Business Standard
11-06-2025
- Business
- Business Standard
Dysprosium, terbium may top India's rare earth wishlist before China
Amid uncertainty over rare earth approvals from China, India pushes to secure dysprosium and terbium imports essential for magnet production in electric vehicles and wind turbines premium Puja Das Shine Jacob New Delhi/Chennai Listen to This Article Amid reports that at least 10 applicants are in the advanced stages of receiving rare earth licences from China, sources indicate that the industry and the Indian government are actively pushing for the import of two key materials—dysprosium and terbium—critical for domestic magnet production. India requires several rare earth elements (REEs), especially neodymium, praseodymium, dysprosium, and terbium, primarily for use in permanent magnets. Dysprosium and terbium, two heavy rare earth elements (HREEs) with unique properties, particularly in the realm of magnetism, are not available in extractable quantities in India. While India possesses some REEs like lanthanum, cerium, neodymium, and praseodymium,
