Representative image
Dear Reader,
The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.
Is the end nigh?
The World Meteorological Organisation’s report released on day 1 of the talks at the COP27 climate change summit makes for grim reading.
- 2015-22 will likely be the warmest eight years on the planet since such things started to be recorded.
- Global average temperature in 2022 is 1.15 degree Celsius (C) above pre-industrial levels. The Paris Accord reached in 2015 wanted countries to work together and cap global warming to 1.5C. That looks like history now; the world seems set for at least 2.4C of warming by 2100 A.D.
- Sea levels are rising; the rate has doubled since 1993. Glaciers are melting from Antarctica to the Alps.
The only bit of good news is that countries have agreed to include loss and damage funding in the COP27 negotiations. This essentially is a call to rich countries —historically large emitters of greenhouse gases — to compensate smaller nations which are among the worst sufferers from climate change.
It has not come a moment too soon. The WMO report just quantifies what we have seen this year alone — extreme heat in North India hitting crop output, floods in Pakistan, an unprecedented heat wave in Europe, droughts in China and Africa.
Hopefully, there will be some concrete action and nations will walk the talk. So far, the track record of such summits has been underwhelming.
Rich nations have failed to honour their promise to cough up $ 100 billion a year between 2020 and 2025, to support climate action in developing countries.
Less than one in four of the 190 participant nations at COP26 have presented plans to cut emissions as agreed at that meeting.
Similarly, 93 percent of the world’s largest 2,000 companies that made net zero promises at COP26 will fail to achieve their goals, reported the FT, citing a report published by consultancy Accenture.
Will companies and countries walk the talk at COP27? Follow our comprehensive coverage of the event here.
Read more about India’s stance at the climate summit here.
Investing insights from our research team
SBI Q2 FY23: The elephant has started dancing
Decent show by IndiGo in Q2 FY23, ready to gain altitude
GAIL: Are all negatives priced in?
Hero MotoCorp Q2 FY23: Recovery in sight, valuation makes it worthy
Titan Company: Will the stock continue to shine?
Marico on the path to recovery in core categories
Cipla: Steady improvement in business, but valuation expensive
What else are we reading?
When will rural FMCG demand recover? The answer lies in purchasing power
RBI-EU standoff will hit markets, regulators must talk to each other
US midterm election — What does it mean for India?
The Eastern Window: Political chaos in Pakistan may throw up risks for India
We don’t need rocket science to address Delhi’s air pollution
Volatile freight rates raise concerns of moderation in CV sales growth
The illusory appeal of bear market rallies (republished from the FT)
Consumer demand, high commodity prices, and better compliance behind surge in GST collections
India-UK FTA: Without migration, a comprehensive deal is unlikely
Central banks in emerging markets are biggest gold buyers
Are investors betting on the wrong EV batteries?
Semiconductors | The global, local, and focal of India’s chip fab efforts
Technical Picks: Coal India, Copper, Gold Bees, SAIL, Tata Steel and USD-INR (These are published every trading day before markets open and can be read on the app).
Ravi KrishnanMoneycontrol Pro
