Published on 13/03/2025
India mulls $1 billion subsidy plan to boost solar manufacturing
India is finalizing a $1 billion capital subsidy plan to bolster its solar manufacturing industry, as part of a wider effort to reduce dependence on China and profit from the global energy transition.
While India has grown its domestic modules and cell making segments, wafers and ingots manufacturing still stands at just 2 gigawatts of capacity, built by Adani Enterprises Ltd. According to Bloomberg, India has just over 71 gigawatts of modules and nearly 11 gigawatts of cells capacity.
Even if India were to expand its wafer and ingot capacity, it would still need to rely on foreign suppliers for the raw material they’re made from, polysilicon. India doesn’t have any capacity to produce the ultra-refined material, according to Bloomberg data. China dominates global manufacturing, with capacity to produce 2.3 million tons a year, well ahead of No. 2 Germany with 75,000 tons.
Source: Bloomberg
Key takeaways from the Paris AI summit
The artificial intelligence summit in Paris highlighted growing tensions around the globe concerning the rapidly developing technology. The US vice-president JD Vance's speech symbolised a fracturing consensus on AI, as he made it clear that the US would not allow global regulation or an excessive focus on safety to impede its AI development. The US, along with the UK, declined to sign a diplomatic declaration on "inclusive and sustainable" AI, citing that it had not addressed global governance of AI and its impact on national security adequately.
Safety, a critical topic at a previous summit, was not at the forefront in Paris, despite ongoing concerns. Yoshua Bengio, a world-renowned computer scientist, voiced that the world is not adequately addressing the implications of highly intelligent AIs. Meanwhile, Sir Demis Hassabis, the head of Google’s AI unit, called for unity in dealing with AI, emphasizing that concerns about powerful AI systems behaving deceptively require focused, international cooperation.
Despite these tensions, the summit also showcased the accelerating progress in AI. Dario Amodei, chief executive of US AI company Anthropic, predicted that by 2026 or 2027, AI systems will be akin to “an entirely new state populated by highly intelligent people appearing on the global stage”. Meanwhile, China's vice-premier, Zhang Guoqing, offered to work with other countries to safeguard security and share achievements in AI, aiming to build “a community with a shared future for mankind”.
Sources: The Guardian, Novethic
Bridging the gap between Western and Asian models for inclusive development
Development finance approaches are facing a divergence, with the Western-centric model being increasingly scrutinised for its top-down, condition-laden structure. Despite being well-intentioned, this model often imposes strict conditions such as governance reforms, austerity measures, and market liberalisation, which may not align with the realities and goals of developing nations. This approach can discourage creativity, weaken local agencies, and prolong dependency. For instance, the Structural Adjustment Programs (SAPs) of the 1980s and 1990s, imposed by the International Monetary Fund (IMF) and the World Bank, often led to social unrest, increased poverty, and weakened public services.
In contrast, the Asian model offers a more cooperative and context-sensitive approach. Organisations like the New Development Bank (NDB) and the Asian Infrastructure Investment Bank (AIIB) stress mutual benefit, respect for sovereignty, and an emphasis on infrastructure that fits local needs and capabilities. This model focuses on regional context, acknowledging each region's unique opportunities and challenges, as opposed to the Western approach which frequently imposes universal solutions.
The Asian model also promotes South-South cooperation, encouraging mutual learning and solidarity among emerging nations. It is evident that a more nuanced, cooperative, and context-sensitive approach to development finance can lead to more sustainable and inclusive outcomes.
Source: Illuminem
Ethiopia’s utopian experiment in gender equality
In the highlands of northern Ethiopia, the village of Awra Amba stands out as a unique societal experiment where gender equality of labour is both the law and the reality. This community of about 600 residents, founded in the 1970s, is unlike most other places in the world. Men share half the housework and women guide oxen to plough the fields. This contrasts starkly with the World Bank's findings from 190 economies worldwide, which showed that women spend 2.4 more hours a day on unpaid care work than men and earn just $0.77 for every $1 paid to men.
Awra Amba, formed by Zumra Nuru and a group of local farmers, is run by 15 democratically elected committees responsible for various aspects of community life, from housing to education. The community has five main values: women’s rights, children’s rights, care for the elderly and vulnerable, treating all humans as “brothers and sisters regardless of their differences”, and avoiding “antisocial behavior”. “My rights are respected here. And I feel more sociable.” Said Qewt Alemu, a 77-year-old resident.
While the community has seen success in terms of life expectancy, gender equality, and literacy levels, it is not without flaws. The influence of Nuru, the community’s founder, is considerable and there is little space for dissent. There have also been economic challenges due to the pandemic and ongoing conflict in Ethiopia. Despite this, Awra Amba continues to build on its example of equality and mutual aid.
Source: Reasons to be cheerful
Only seven countries worldwide meet WHO dirty air guidelines, study shows
According to a report by Swiss air quality technology company IQAir, only seven countries worldwide met the World Health Organization's (WHO) guidelines for PM2.5, tiny toxic particles, in 2024. Australia, New Zealand, Estonia, Iceland, and some small island states were among the few with an annual average of no more than 5µg of PM2.5 per cubic meter. In contrast, Chad, Bangladesh, Pakistan, the Democratic Republic of Congo, and India had PM2.5 levels at least 10 times higher than the guideline limits, with Chad reaching up to 18 times the recommended levels.
The report indicated some progress, with the percentage of cities meeting PM2.5 standards increasing from 9% in 2023 to 17% in 2024. Additionally, air pollution in India, home to six of the world's ten most polluted cities, fell by 7% between 2023 and 2024. China also showed improvements, with its extreme PM2.5 pollution decreasing by almost half between 2013 and 2020.
However, the study revealed stark disparities, even within relatively clean continents. For example, there's a 20-fold difference in PM2.5 levels between the most and least polluted cities in Europe. The study underscores the importance of governments implementing air-cleaning policies, such as funding renewable energy projects, encouraging walking and cycling, and prohibiting the burning of farm waste.
Sources: The Guardian, Reuters
China's BYD holds mining rights in Brazil's Lithium Valley
- Company: BYD Co
- Sector: Automobiles
- Clover rating: 5/10
Chinese EV giant BYD has taken a decisive step into the mining sector, acquiring mineral rights for two plots in Brazil's lithium-rich Jequitinhonha Valley. The company expanded its operations in Brazil in 2023, securing mineral rights for two land plots in a lithium-rich region of the country. The investment was made through BYD's subsidiary, Exploracao Mineral do Brasil, formed in May 2023 with a share capital of 4 million reais ($695,000). The plots, totaling 852 hectares, lie near BYD's new factory project in the northeast and properties owned by U.S.-listed miner Atlas Lithium.
This move marks BYD's most significant step into mining strategic minerals in the Western Hemisphere. The company, having stakes in major Chinese miners and participating in a Chilean lithium project bid, is now strengthening its presence in Latin America's largest economy. The venture underlines BYD's commitment despite facing labor abuse accusations at an old Ford factory complex in Brazil in December.
The acquired mineral rights are in Coronel Murta, part of the Jequitinhonha Valley in the state of Minas Gerais, known as Brazil's Lithium Valley. This region is renowned for its hard rock deposits ideal for traditional mining. The investment is expected to increase the value of neighbouring areas, including those owned by Atlas Lithium. It is to be noted that starting a mining project in Brazil can take between eight and 15 years if it proves economically viable.
Sources: Reuters, EV Magazine
Accidents at giant Rio Tinto project result in several fatalities, prompting inquiry
- Company: Rio Tinto
- Sector: Mining
- Clover rating: 4/10
Six local workers were killed between June 2023 and November 2024 in the construction of a railway and port leading to the Simandou iron mining complex in Guinea, operated by Rio Tinto, with more than 40 undisclosed accidents documented by company officials.
Investigations into accidents at the project found that minimum safety guidelines were not correctly implemented, with reports showing instances of neglect in equipment maintenance and emergency procedures not being followed properly.
A draft assessment conducted by French firm Artelia for Winning Consortium Simandou (WCS), Rio Tinto's Chinese partners, cited poor health and safety conditions at camps, with first aid training limited and the quality of medical facilities variable, raising concerns about compliance with international safety standards.
Apple shareholders reject proposal to scrap diversity programs
- Company: Apple Inc
- Sector: Information Technology
- Clover rating: 5/10
Apple shareholders have voted against a resolution that would have required the company to discontinue its Diversity, Equity and Inclusion (DEI) policies. The decision follows a recent series of moves by U.S. companies and investors to review their DEI programs, prompted by increasing legal scrutiny and a Supreme Court ruling against race-based affirmative action criteria in college admissions. Despite the vote, Apple CEO Tim Cook acknowledged potential adjustments to the company's diversity practices in response to the evolving U.S. legal environment.
Apple has several DEI initiatives in place, including a Supplier Diversity Program and the incorporation of diversity and inclusion considerations in every employee's performance review. The resolution to end these practices was filed by the National Center for Public Policy Research, a conservative think tank, citing potential legal and financial risks in light of the Harvard case.
Apple's board advised shareholders to vote against the proposal, stating that it interferes with the company's ability to manage its operations, personnel, and strategies. Post-vote, Cook reaffirmed the company's commitment to diversity, stating that while changes may be necessary to comply with the law, Apple's dedication to dignity and respect for all will remain steadfast.
North Atlantic currents, between past stability and future threats
According to a new American-Swiss study, the "Atlantic Meridional Overturning Circulation" - or AMOC - has remained stable over the past 60 years. But this does not mean that the AMOC will not decline or collapse in the future.
The study focused on the "Atlantic Meridional Overturning Circulation" (AMOC). The Gulf Stream, a famous warm surface ocean current that escapes from the Gulf of Mexico and goes up along the American coast to disperse in the northeast, is part of the AMOC. The same applies to the North Atlantic current, sometimes called the North Atlantic Drift, a surface current that extends the Gulf Stream and crashes onto the European coasts.
The fear is that global warming, through a rise in air temperature and a dilution of the ocean's salinity due to ice melting, will reduce the "sinking of surface waters". This sinking mechanism drives the AMOC, and therefore, in part, the circulation of warm water to the north. Why does this concern us? Because Western Europe and Northern Europe owe their relatively mild climate to the Atlantic ocean currents, including the AMOC. The flow of warm water from the equatorial region to Europe keeps England or Scandinavia several degrees warmer than similar latitudes.