A new study has found that 41 out of 42 indicators are significantly behind in their efforts to reach the goal of limiting global warming by 2030. The measures taken to limit global warming to 1.5 degrees Celsius are "lagging significantly," according to a new research released on Tuesday. The report comes ahead of the COP28 UN Climate Change Conference going to be held in Dubai at the end of the month. The report was published by a consortium of think tanks including Climate Action Tracker, the United Nations Climate Change High-Level Champions and World Resources Institute. What are the findings of the report? The "State of Climate Action" report found that 41 of 42 indicators assessed are not on track to achieve their 2030 targets. It reveals that only one indicator — focused on increasing sales of electric trucks and the share of EVs in the passenger car fleet was on track to meet the goals that were set as per the 2015 Paris Agreement. Another key finding of the report is that half of the indicators are falling behind by an extent so large that to get them on track, efforts need to be expedited twice as quickly as at present. The report also reveals that six indicators are moving in a direction that's counter-productive to the goal of limiting global warming temperatures. Fossil fuels need to be phased out seven times faster but government subsidies for oil, gas and coal nearly doubled from 2020 to 2021. "Despite decades of dire warnings and wake-up calls, our leaders have largely failed to mobilize climate action anywhere near the pace and scale needed," lead author Sophie Boehm said. "There's no time left to tinker at the edges. Instead, we need immediate, transformational changes across every single sector this decade."

Pakistan's economy still remains critical and several economic indicators suggest that the situation could get worse. Food shortage, depleting energy, and foreign reserves may create a bigger problem in the upcoming winter. Pakistan's recent decision not to purchase oil and gas from Russia even after a shortage in the country may not be just to please the United States (US). It may be a decision taken because of the downfall of Pakistan's economy, Islam Khabar reported. According to Islam Khabar, such a big purchase will need a huge cash outflow as Russia itself is in need of cash itself because of its ongoing war with Ukraine. Islam Khabar reported quoting a statement of Foreign Minister Bilawal Bhutto Zardari to 'PBS Newshour' on December 14 in which he had said that the country will not be receiving any oil and gas from Russia. This came just a week after Energy Minister of Pakistan Musadik Malik had completed negotiations and signed papers with their Russian counterpart. And resulting Pakistan will now have to turn to Gulf countries that can full fill energy needs of Pakistan. Islam Khabar reported quoting a report from Dawn that the central bank reserves of Pakistan had dropped from USD 15 billion to just USD 6.7 billion. These dropping foreign incidents will result in the default of foreign loans. And the amount left in the reserves may just be enough to cover one month of imports. Although the United Nations (UN) and other international organizations rushed in to provide help for the floods that hit Pakistan this year. Although the UN had reported that only one-third of the donation needs of Pakistan were met which will end in January 2023. According to Islam Kahabar UN had asked for USD 816 million but the UN NGOs had only received USD 262 million as international help. The situation of the industrial sector also remains critical as the large manufacturing sector dropped by 7.75 percent according to the Pakistan Bureau of Statistics (PBS) report which includes textiles and automobiles that contribute a major part to the foreign reserves, according to Islam Khabar. And Pakistan's agriculture has been in a critical situation for a long time now resulting in poor government policies and lack of investment and low automation. All these finally lead to reducing crop yields, reduced farm incomes, and rural poverty. And Pakistan has been an importer of food and cotton for the large textile industry even before the floods hit Pakistan. All these factors contribute to a critical economic condition, and the future seems even more difficult according to indicators.

Indian Union Commerce and Industry Minister Piyush Goyal on Monday said India is working on 'Aatmanirbhar Bharat' just like the United States embarked on a 'Build Back Better' framework. While welcoming United States Trade Representative (USTR) Katherine Tai at a reception in New Delhi, Goyal said the Indian economy has recovered sharply and the rising economic indicators point towards 'India shaping up for a growth decade'. He said India and US have gained strength over years due to defense cooperation and the Quadrilateral Security Dialogue (Quad) has given it a new boost. Tai is on a two-day visit to India and is accompanied by Deputy United States Trade Representative Sarah Bianchi. Goyal said India-US bilateral trade is showing a robust increase. The minister said that rising economic indicators point towards "India shaping up for a growth decade" and referred to Moody's rating upgrade, flourishing foreign trade, highest-ever FDI, robust GST collection, strong fundamentals and vibrant Startup ecosystem. He said India is also implementing the largest COVID-19 vaccination drive in the world, having administered over 1.1 billion doses and has plan to manufacture five billion doses next year, to help serve and secure all of humanity. Goyal said that India and US partnership can not only help each other but the entire world to recover from the COVID-19 pandemic. "Citizens from both our countries look towards India-US partnerships with great optimism and hope. This is a partnership that can not only help each other but the entire world to recover from the pandemic. As the 35th President of US John F Kennedy said, 'If not us, who? If not now, when? Today, we have the power to create history, start our journey towards a new era of growth and show the world that with good intentions and substantive action, we can create a brighter future together," he said. Source: ANI