Indian Banks Unprepared for Climate-Related Financial Risks: Climate Risk Horizons Report

Image
Climate Change: A Growing Risk for Indian Banking Sector A new report titled "Unprepared" by Climate Risk Horizons (CRH) has raised red flags about the Indian banking sector's readiness to tackle climate-related financial risks. As the effects of climate change escalate globally, banks in India are significantly lagging behind in integrating these risks into their core business strategies, lending practices, and disclosures. Scope and Scale of the Study The report assessed 35 of India’s largest scheduled commercial banks by market capitalisation as of March 2024. These included: 11 public sector banks 18 private sector banks 6 small finance banks Collectively, these banks account for a combined market capitalisation of ₹4,582,292 crore , representing a major portion of India’s financial system. Key Findings: Gaps in Climate Preparedness Emissions Disclosure Deficit: Only 7 out of 35 banks disclosed all three categories of greenhouse gas emiss...
Post a Comment

India Suspends Indus Waters Treaty in Strong Response to Pahalgam Terror Attack


In a bold and historic move following the deadly Pahalgam terror attack, India has officially suspended the Indus Waters Treaty of 1960 with Pakistan. The decision, confirmed at a high-level Cabinet Committee on Security (CCS) meeting chaired by Prime Minister Narendra Modi, marks a significant escalation in diplomatic and strategic pressure on Pakistan.

What Prompted the Decision?

On April 22, a heinous terrorist attack in Pahalgam, Jammu & Kashmir, claimed the lives of 26 civilians, including a Nepali national. The attack, attributed to Pakistan-based terror outfits, prompted an emergency CCS meeting attended by top leadership—Home Minister Amit Shah, Defence Minister Rajnath Singh, and External Affairs Minister S. Jaishankar.

Key Announcements from the CCS Meeting

  • Suspension of Indus Waters Treaty: India formally notified Pakistan of this suspension under Article XII (3) of the treaty, citing Pakistan's sustained support for cross-border terrorism.

  • Closure of Integrated Check Post at Attari: Effective immediately, all crossings are restricted. Valid travelers have until May 1, 2025, to return.

  • Curtailment of Diplomatic Presence: Defence, Military, Naval, and Air Advisors in the Pakistani High Commission have been declared persona non grata and must leave within a week.

  • SAARC Visa Exemption Withdrawn: Pakistan nationals will no longer be allowed entry under the SAARC Visa Exemption Scheme. Existing SPES visas have been canceled.

India’s Stand on Treaty Revisions

India emphasized that "fundamental changes in population demographics, need for clean energy, and national security" necessitate a revision of the treaty. It accused Pakistan of violating treaty terms by promoting terrorism and refusing bilateral negotiations despite repeated calls.

Background on the Indus Waters Treaty

Signed in 1960, brokered by the World Bank, the treaty regulates water sharing of six rivers between India and Pakistan. India controls Ravi, Beas, and Sutlej, while Pakistan controls Indus, Jhelum, and Chenab. Despite wars and political tensions, the treaty remained intact for over six decades—until now.

Moving Forward: Jal Shakti Minister Leads Implementation

Union Jal Shakti Minister CR Patil chaired several follow-up meetings to expedite implementation, signaling India's intent to redefine water diplomacy as part of its national security strategy.

📌 Key Takeaway: India has taken a firm stand—security and sovereignty will not be compromised. The suspension of the Indus Waters Treaty is a strategic signal, not just to Pakistan but to the world, about India's evolving geopolitical posture in the face of continued aggression.


Location: Pune, Maharashtra, India

Comments

Post a Comment