Climate change cannot be ignored or neglected: German envoy

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Shimla, Dec 18 | Climate change is a topic that cannot be ignored or neglected anymore. It manifests in different ways and support from developed countries is required for developing countries, German Ambassador to India, Walter J. Lindner, said on Saturday.

“Germany and India have a long standing cooperation, especially in Himachal Pradesh, on topics such as climate change, hydropower and agriculture among others. This is a very important two-day conference, because the focus is on the exchange of views and ideas of experts rather than just long speeches,” he said.

He was in the state capital at the opening of the climate conference being organised by the state Department of Environment, Science and Technology, in association with The German Development Cooperation (GIZ).

The conference was inaugurated by Chief Minister Jai Ram Thakur alongside Lindner, and Students Educational and Cultural Movement of Ladakh Director Sonam Wangchuk.

The Chief Minister said the glaciers are important part of the ecosystem and concrete measures needed to reduce the impact of climate change.

He said major steps have been taken to ensure sustainable development and environment protection in the state.

“To reduce the level of carbon dioxide in the atmosphere, the state is focusing on the use of green fuels like hydropower and solar energy.”

He said the state is rich in hydropower resources and 10,519 MW has been tapped so far. The state clean fuel policy would soon be brought to reduce air pollution.

German Ambassador Lindner visited a nearby village to interact with women farmers and get a better understanding of their day-to-day problems due to the constant climate change.

Titled “Secure Himalaya — Safe India: Reducing Climate Change Induced Risks and Vulnerabilities due to GLOF-Glacial Lake Outburst Floods in Himalayas”, the conference discussed climate risks, community preparedness, role of financial institutions and climate change action plan in the region to reduce climate induced risks.

The Chief Minister and the Ambassador jointly launched the revised State Action Plan on Climate Change.

Wangchuk said: “The future will see many unprecedented calamities if we don’t act now. It is important to engage the youth to build the prosperity of the mountains. Eco literacy and climate literacy should become paramount in the education system, especially in the mountain regions.”

“Bigger cities owe the people in the mountains the support and finances to deal with hazards and prepare better. We have to come up with original, fundamental solutions for mountainous regions since the challenges and lives are different from those living in New Delhi or New York. One cannot just keep adapting to climate change. Mitigation is the key,” he added.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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