top of page

By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and...

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and transformation. I am a financial advisor - not an astrologer or numerologist - but I find this date fascinating because of the symbolism attached to the number 8. In numerology, 8 is associated with wealth, power, ambition and balance. It is also linked with discipline, responsibility and karma - the idea that our actions produce results. When the calendar reads 8/8, many believe this energy is doubled. A Financial Checkpoint Whether or not you believe in astrology or numerology, the date can serve as a financial checkpoint - an opportunity to pause, reflect and take steps towards building wealth. I recommend treating 8/8 as a money mirror - a moment to ask yourself: Are my investments aligned with my long-term goals? Is my money working for me, or am I caught in an earn-and-spend cycle? Am I creating lasting wealth, or merely temporary income? Your Mid-Year Money Reset We often make resolutions on January 1. But by August, more than half the year has passed. That makes 8/8 an excellent occasion for a financial reset. Use this weekend for review and action. The intention may begin on a symbolic day, but transformation comes from what you do next. Review your goals and expenses. Make lumpsum investments where appropriate, increase your SIPs, check whether your insurance cover is sufficient and organise your financial documents. Also review your asset allocation. Money meant for long-term goals must be invested in hybrid and equity mutual funds, stocks and gold. Money required for short-term goals should remain in safer options such as bank fixed deposits and recurring deposits. Declutter Your Finances Close unused accounts, cancel unnecessary subscriptions, consolidate scattered investments and ensure that your family knows where financial information is stored. These may seem like small steps, but wealth is rarely created through one dramatic decision. It is built through disciplined actions repeated over many years. The Infinity Connection When the number 8 is turned on its side, it resembles the symbol for infinity - . That is what true investing is about - allowing consistency, patience and compounding to work over long periods. It does not create wealth overnight. Given time, the results can appear magical. Turn Intention Into Action As we move beyond 8/8, do not let the intention remain limited to a date on the calendar. Set a financial intention. Act on it. Review it regularly. Even the largest fortunes begin with focused steps. When your present-day financial actions begin matching your long-term goals, real transformation begins. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

India needs a plan to decarbonise its buildings and the construction industry

construction industry

Given the contribution of embodied carbon to the overall emissions by India’s building construction industry, the country needs to develop a plan to decarbonise building and have targets for GHG emission reduction.


While there are limited standards and reporting frameworks for addressing embodied carbon even in developed markets because the emphasis is on operational emissions, there is an urgent need to innovate and transition to low carbon emitting technologies and construction methods to be able to tackle embodied carbon as there is to develop standards and reporting methods. India has a very rudimentary framework for management of operational carbon metrics and needs to urgently develop and implement building performance management and measurement tools, to achieve its coveted objective of net-zero by 2070.


To overcome this while traditional asset backed lending models may of course be explored where the borrowers are credit worthy and where asset valuations support, India could also explore an off-balance sheet model that helps shift energy efficiency projects from being an expensed asset that must be procured and maintained (and will depreciate) to one that is an operating expense. The extent of Government support by way of grants and subsidised funding to support decarbonisation of select asset classes such as housing, is to be further assessed. There may also be innovative models such as the one used by the National Wealth Fund, UK where sovereign guarantees are used to derisk exposure to private borrowers and can help attract private capital into areas seen as risky.


This has a twofold benefit: it helps crowd in private capital and take on risks at a pricing which otherwise would not be possible and it helps develop and test the market so with time, borrowers would be able to borrow at attractive pricing without the need for a sovereign guarantee.


Though India has low per capita annual emissions at 1.8 tons of CO2e compared to the USA at 14.7 and China at 7.6 in part thanks to being among the most populous countries, in absolute terms, it is the third-largest emitter country globally and hence has a central role to play in any global strategy to mitigate GHG emissions.


In India, the real estate and construction sectors account for 32 percent of total national GHG emissions, covering both operational and embodied carbon with buildings projected to emit upto 7x more carbon by 2050 (against to 2005 levels).


Moreover, the situation with respect to the building construction in India is different from the UK where 80 percent of buildings that will exist in 2050 have already been built and hence the emphasis is on improving energy efficiency of existing stock to decarbonise the sector.


In India it is estimated that operational emissions (emissions by virtue of using / operating a building) contribute to 60% of overall emissions from the built environment with 40% contribution from embodied emissions.


As per a study, 50–70 percent of embodied carbon emissions is before completion. Of this, 85–90 percent of embodied emissions are from manufacturing, 7–10% from transportation and 3–5% during construction.


While India has taken steps towards reducing operational emissions by establishing the Energy Efficiency Services Limited (EESL), this entity has already completed energy efficiency projects in over 10K+ buildings across India and has effected savings in the 30-50% range.


There is however clearly much more to be done both in terms of improving the manufacturing processes to use low carbon emitting technology and materials and in driving nation-wide efforts to deliver decarbonisation. For any decarbonising drive to succeed in India, domestic properties / homes would need to be the focus as these constitute 75% of buildings; commercial buildings account for roughly 1.2bn. sq.ft.. Further research effort may be needed to determine the spend on improving energy efficiency of buildings, the nature of interventions and a financing structure which can ensure that retrofits are viable and property owners are incentivised to invest in these measures.


(The author is a senior banker and sustainable finance expert of Indian origin based out of UK. Views are personal)

Comments

bottom of page