Page 10 - Carbon Emissions

ProClime commits Rs 450 crore investment in TN to drive carbon projects

ProClime, a unified service provider in the climate space across Singapore, Sri Lanka, and India has committed Rs 450 crore investment in Tamil Nadu for taking up carbon projects, the company said on Friday. The Chennai-headquartered firm signed a memorandum of understanding with the Tamil Nadu government during the recently held Global Investors Meet. "Over the next five years, ProClime will invest Rs 450 crore as climate investments in the state and aims to create employment opportunities through carbon projects. ProClime is poised to be the first unified climate service provider investing in Tamil Nadu for carbon projects that generate carbon credits to mitigate climate change," the company said in a statement. These credits would play a pivotal role in supporting the sustainable development goals across Tamil Nadu. Besides, it would also position itself as a front-runner in both Indian and Global Carbon markets. "Our MoU with the Government of Tamil Nadu marks a pivotal step ..

JSW Group ties up with Finland-based Coolbrook for low-carbon emission tech

JSW Group on Thursday said it has partnered with Finland-based firm Coolbrook to implement a low carbon emission technology at its Vijayanagar plant in Karnataka. In a statement, JSW Group said the partnership follows Coolbrook's successful completion of the first phase of large-scale pilot tests for RotoDynamic Technology at the Brightlands Chemelot Campus in the Netherlands in 2023. "This strategic partnership will focus on implementing Coolbrook's RotoDynamic Heater (RDH) Technology at JSW's manufacturing sites at Vijayanagar Works in Karnataka with the primary goal of achieving low CO2 emissions in steel and cement production," it said. The RDH technology utilises renewable electricity to power high-temperature industrial processes in steel and cement production, significantly reducing the need to burn fossil fuels, JSW Group said. "Deployment of RDH Technology is expected to have a sizeable impact on the decarbonisation of the group's manufacturing process," P K Murugan, ...

Trade department backs lower tax on hybrid vehicles in green push

India's combined sales and additional taxes on hybrid vehicles sales are as high as 43%, based on the size of the car, compared with the highest rate of 50% imposed on petrol and diesel cars

Over 50% firms committed to achieving net-zero emission target: PwC survey

About 50 per cent of the Indian businesses surveyed expressed their commitment to achieving the net-zero target, reflecting their desire to address climate change issues and transit to a low-carbon economy, said a PwC report on Tuesday. Of these, about 48 per cent committed to achieving net-zero emission target by 2030, said PwC India's Tax transparency in ESG survey conducted between April-July 2023. The report is based on a market survey of nearly 250 tax heads, sustainability/ESG leaders, CFOs and CXOs of Indian businesses, spanning industries such as financial services, technology, media, and telecom (TMT), retail and consumer, engineering and construction, among others. In recent years, the global business landscape has witnessed a significant transformation in sustainable and responsible practices, said a PwC release, adding "as a core pillar of corporate strategy, companies are investing in sustainability and striving to communicate their intentions, commitments and ...

Vehicle scrappage policy key to cutting India steel sector emissions

CO2 emissions from Indian steel production range from 2.5 to 2.85 tonnes per tonne of crude steel, in contrast to global average carbon intensity of 1.4 tonnes per tonne of steel, as reported by IEA

CMAI, UK-based VCMI partner to help stakeholders in carbon credit trading

The Carbon Markets Association of India (CMAI) has partnered with global body Voluntary Carbon Market Integrity Initiative (VCMI) to help stakeholders in carbon credit trading. The agreement with London-headquartered VCMI aims to guide industry players from the registration process for projects involved in the generation of carbon credits, monitoring of projects to trading of the carbon credits generated in a transparent manner, CMAI said in a statement. The partnership will seek to promote an enabling environment for high-integrity voluntary carbon market (VCMs) that attract private investment aligned with national and sub-national climate and socioeconomic policy priorities, the statement said. As part of the agreement, CMAI and VCMI will facilitate the stakeholders in scaling up carbon finance activities across priority sectors in India. VCMI is an international non-profit organization which works to enable high-integrity voluntary carbon markets (VCMs). The organization is alig

MoU between India, USAID/India to help Railways achieve net-zero emissions

The Union Cabinet during a meeting chaired by Prime Minister Narendra Modi on Friday approved an MoU signed between India and USAID/India to help the Indian Railways achieve net-zero carbon emission by 2030. A press statement issued by the Indian Railways on Friday said the Cabinet was apprised of the signing of the Memorandum of Understanding (MoU) between India and the United States Agency for International Development (USAID)/India on June 14, 2023. "The MoU provides a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector," it said. It added, "The MoU facilitates utility modernisation, advanced energy solutions and systems, regional energy and market integration and private sector participation and engagement, training and seminars/workshops focusing on specific technology areas like renewable energy, energy efficiency and other interactions for knowledge sharing." According to the Indian Railways, it earlier worked with .

Indian CBG industry will see interest from investors: EverEnviro MD

EverEnviro Managing Director & Chief Executive Officer Mahesh Girdhar speaks about India's second stab at Compressed Bio-Gas, after an initial attempt to convert waste-to-gas failed

Essar onboards Topsoe as partner for UK industrial carbon capture facility

Essar Oil UK on Friday announced the selection of a second key licensor technology provider, Denmark-based Topsoe, for setting up an industrial carbon capture facility as part of its planned energy transition project at Stanlow, UK. Topsoe will provide its sustainable flue-gas treatment technology SNOXTM, the company said in a statement. "This is a pivotal step towards Essar Oil UK's USD 1.2 billion investment in decarbonising the refinery by reducing about 2 million tons of CO2 emissions, making it the world's first low carbon refinery and a producer of low carbon fuels," it said. Essar had earlier this year created a new entity to drive low carbon projects in the UK and India over the next five years. Essar Energy Transition (EET), the new unit, would invest across its site at Stanlow, between Liverpool and Manchester and in India for developing low carbon energy transition projects. Deepak Maheshwari, CEO of Essar Oil UK, said, "We are ready to move into the next phase of Essar

'Avoid unilateral barriers' call a win for India at COP28 climate summit

Another senior negotiator revealed that the target of this crucial inclusion in the global stocktake text was not just the CBAM, but also the Inflation Reduction Act of the US

New COP28 draft text does not mention phasing out of fossil fuels

The relevant section of the text said that parties recognize "the need for deep, rapid and sustained reductions in GHG (greenhouse gases) emissions and calls upon Parties to take actions

India at COP: Advocates equity, seeks stronger role from developed nations

New Delhi reduced its GDP emission intensity by 33% between 2005 and 2019, achieving the target 11 years in advance, says Environment Minister Bhupender Yadav

What is carbon capture and why does it keep coming up at COP28 summit?

The future of fossil fuels is at the centre of the United Nations climate summit in Dubai, where many activists, experts and nations are calling for an agreement to phase out the oil, gas and coal responsible for warming the planet. On the other side: energy companies and oil-rich nations with plans to keep drilling well into the future. In the background of those discussions are carbon capture and carbon removal, technologies most, if not all, producers are counting on to meet their pledges to get to net-zero emissions. Sceptics worry the technology is being oversold to allow the industry to maintain the status quo. The industry needs to commit to genuinely helping the world meet its energy needs and climate goals which means letting go of the illusion that implausibly large amounts of carbon capture are the solution, International Energy Agency Executive Director Fatih Birol said before the start of talks. WHAT EXACTLY IS CARBON CAPTURE? Lots of industrial facilities like ...

Preventing carbon leakage CBAM's aim: Europe as India threatens retaliation

The European Commission on Friday said the sole aim of CBAM -- a tax the European Union plans to impose on energy-intensive goods from countries like India and China -- is to prevent carbon leakage, a situation where companies decide to shift out their production from a country with stringent policies. European Commissioner Wopke Hoekstra made this statement at a press conference at the UN climate talks here even as India's Commerce and Industry Minister Piyush Goyal threatened retaliatory action at an event in New Delhi. Hoekstra said, "CBAM's sole aim is to prevent carbon leakage." Peter Liese, a German politician and a member of the European Parliament, said the bloc aims to reduce emissions by 55 percent by 2030 and that achieving such a significant reduction without CBAM would not be feasible. Stressing that CBAM is crucial for funding the bloc's climate goals, he cautioned that any attempt to dismantle it would have far-reaching consequences beyond its scope. "Any agenda to .

Carbon market push at COP28 summit tries to fix scandal-tainted credits

The concept of trading carbon credits across borders to accelerate the green transition is not new, nor are challenges to its transparency and impact

Jindal Stainless aims to cut emissions by 50% 'way ahead' of 2035 target

India's largest stainless steel company will invest Rs 700 cr in projects to cut emissions

Global warming threshold could be hit temporarily in 2024: UK's Met Office

The average global temperature for 2024 is forecast to be between 1.34C and 1.58C above the average for the pre-industrial period of 1850-1900, it said

COP28: UN says 63 countries have backed pledge to curb cooling emission

The Global Cooling Pledge marks the world's first collective focus on climate-warming emissions from cooling, which includes refrigeration for food and medicine and air conditioning

Carbon emissions in India to increase by 8.2%, 4% in China in 2023: Study

Carbon emissions in India are projected to increase in India by 8.2 per cent in 2023, and by 4 per cent in China, according to an international research. Global emissions from coal, oil and gas are all projected to increase by 1.1, 1.5 and 0.5 per cent, respectively, even as they are predicted to decline in the EU and the USA by 7.4 and 3 per cent, respectively, the research team that included the University of Exeter, UK, and 90 other institutions globally said in its report. The Global Carbon Budget report, produced by more than 120 scientists, provides an annual, peer-reviewed update, building on established methodologies, the researchers said. The report projects total global carbon dioxide (CO2) emissions, arising out of both fossil fuels and land-use change, to be 40.9 billion tonnes in 2023. Of these, 36.8 billion tonnes would be from fossil fuels, up 1.1 per cent from 2022. Atmospheric CO2 levels are projected to average 419.3 parts per million in 2023, more than 50 per cen

Gore blasts COP28 climate chief and oil cos' emissions pledges at UN summit

Don't trust the oil and gas industry to report their actual carbon pollution, said former US Vice President Al Gore, who added that the man leading the United Nations climate talks runs one of the dirtiest oil companies out there. They're much better at capturing politicians than they are at capturing emissions, Gore told The Associated Press in a sit-down interview. The Nobel Prize-winning climate activist, author and filmmaker blasted Sultan al-Jaber, the president of the United Nations climate talks, who is also president of the national oil company of the host nation, United Arab Emirates. Gore said al-Jaber's Abu Dhabi National Oil Co. is one of the largest and one of the dirtiest, by many measures, oil companies in the world. Gore can make these claims because he just released a massive update of the Climate TRACE database of emissions that he helped create. It tracks carbon pollution from every nation and city across the globe with 352 million pieces of information. Looking