At COP29, Barbados Prime Minister Mia Mottley proposed innovative funding solutions to combat climate change, including levies on business class flights, stock and bond trades, and a $5-a-ton tax on fossil fuel emissions, potentially raising $350 billion annually. Mottley emphasized the urgency for developing nations to secure climate finance, as extreme weather risks escalate. Alongside leaders like Spain's Pedro Sanchez, who advocated for fossil fuel taxes, they aim to ensure polluters contribute to climate efforts, with discussions set for COP30 in Brazil.
The Unified Payments Interface (UPI) has revolutionized India's digital payment landscape, increasing digital transactions ninefold since its launch in 2016. Its share in digital transactions surged from 4.4% in FY18 to 70% in FY24, positioning India ahead of its BRICS counterparts in transaction volumes. Prime Minister Modi's advocacy for UPI among BRICS nations highlights its potential to facilitate a cashless economy, with India recently partnering with the UAE for UPI transactions.
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