IndiGo has approved a capital investment of ₹7,294 crore to enable ownership of their aircraft instead of their leasing. The airline said in a statement that it has “approved a capital investment of $820 million (nearly ₹7,294 crore) in its wholly owned subsidiary
Brazil's Lula pitches for collective action ahead of COP30 meet
Brazil's President Lula da Silva called for a fair shift from fossil fuels and better climate finance. The summit aims to guide climate talks ahead of COP30. Lula stresses that collective action works but is hindered by distrust.
Belem: Brazil's President Luiz Inacio Lula da Silva made a powerful pitch for multilateralism and collective action at the Leaders' Climate Summit. Heads of state and government, and ministers from more than 70 countries are attending the two-day summit that is taking place just ahead of COP30.
Brazil is the host of this year's UN climate talks. It is also the country that hosted the Earth Summit more than 30 years ago, where countries adopted the UN Framework Convention on Climate Change. However, unlike the last time, geopolitical fragmentation and insecurity form the backdrop for the current summit.
The Leaders' Summit is expected to provide political direction to ministers and negotiators and rebuild trust in climate finance, amid growing frustration over delays and lack of transparency in the delivery of pledged funds.
In making a case for multilateralism, Lula said the world had proved that collective mobilisation delivers results. "But the climate regime is not immune to the zero-sum logic that has prevailed in the international order. In a scenario of insecurity and mutual distrust, immediate selfish interests prevail over the long-term common good."
Lula called for overcoming dependence on fossil fuels through a fair and well-planned transition, warning that "extremist forces" seek to preserve an "outdated model". At the same time, he stressed, energy transition must be just, deliberate and backed by adequate financing.
He called for overcoming "difficulties and contradictions" and set fair and planned road maps to reverse deforestation, overcome dependence on fossil fuels, and mobilise resources needed for these goals.
He also made a pitch for overcoming the "disconnect between diplomatic halls and the real world".
People may not understand what emissions or metric tons of carbon are, but they feel pollution, he said. They may not grasp what carbon sinks or climate regulators are, but they recognise the value of forests and oceans. "They may not be versed in concessional or blended finance, but they know that nothing gets done without resources," the Brazilian president said.
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Source: EconomicTimes
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IndiGo has approved a capital investment of ₹7,294 crore to enable ownership of their aircraft instead of their leasing. The airline said in a statement that it has “approved a capital investment of $820 million (nearly ₹7,294 crore) in its wholly owned subsidiary
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