International Business

We ended ozone-depleters well ahead of schedule: Jairam ramesh

India has been successful in phasing out ozone depleting substances (ODS) like chlorofluorocarbons (CFCs) 17 months ahead of the targeted date, said Union Minister for Environment & Forests, Jairam Ramesh, while addressing a conference to observe International Ozone Day here today. - States agree on dual GST rates - Another admirer - Hostile takeover bids slide 66% to $124.4 bn this year - Kraft"s $16.7-billion Cadbury bid may thaw mergers - Cadbury may get $21 bn in deal with Nestle, Hershey - Hershey considers rival Cadbury bid: report “The deadline for phasing out the major ODS was 2010, but we were able to achieve this target in August 2008. This happened due to our commitments, backed by the Montreal Protocol, which has explicit financial arrangements for transfer technologies. We must take pride in this,” he asserted. India has received around $300 billion under the pact. Moreover, developing nations like India are looking for a Montreal-like agreement which ensures transfer of technology with voluntary contributions from developed countries from the Copenhagen conference on climate change between December 7-18. The CFCs were replaced by Hydro Chlorofluorocarbons (HCFCs) but they have also been found to cause global warming. Hence, steps are being taken to phase these out by 2030, as decided at a recent meeting of the parties to the Protocol, noted Ramesh. "Sectors like conditioners, chillers and foam manufacturing that depend on HCFCs will have to find alternatives that are both ozone- and climate-friendly. The ongoing Chiller Energy Efficiency project will also support strengthening of national capacity for carbon finance intermediation," added Ramesh. The Chiller Energy Efficiency project, assisted by the World Bank, intends to accelerate the conversion of CFC-based chillers using new and more energy-efficient technologies. PM to chair Ganga Authority’s first meet Prime Minister Manmohan Singh will chair the first meeting of the Ganga River Basin Authority (GRBA) on October 5, almost a year after it was constituted. Cleaning of the river through a people’s movement by involving schoolchildren and youth will be the agenda of the meeting. In November last year, the Ganga was declared as a National River and the GRBA set up as the empowered planning, implementing and monitoring authority. Chaired by the PM, the GRBA was to have as its members the chief ministers of states through which the Ganga flows.


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