Page 13 - Carbon Emissions

Carbon emission reducing practices under GCP will earn carbon credits: Govt

Any activity generating green credits under the government's Green Credit Programme (GCP) will also receive carbon credits under the Carbon Credit Trading Scheme if it leads to the reduction or removal of carbon emissions, according to a notification. The government on Thursday notified rules for the GCP, which aims to incentivise environmentally conscious practices and promote a sustainable lifestyle through a market-based mechanism. Green credits generated through such actions can be traded on a domestic market platform. According to rules, environment-friendly actions include tree plantation, water management, sustainable agriculture, waste management, air pollution reduction, mangrove conservation and restoration, ecomark label development, and sustainable building and infrastructure. The rules also specify that green credits generated or procured by industries, companies and other entities to fulfil any legal obligation cannot be traded. "The Green Credit programme is independ

India to push developed nations to become 'carbon negative' before 2050

India, which is resisting calls to commit to a deadline for phasing out its own use of coal and other fossil fuels, is set to make its proposal at the COP28 climate summit in Dubai later this year

India can become first country to industrialise without carbonising: Kant

With ideal weather conditions, India can redefine its growth model to become the first country in the world to industrialise without carbonising, G20 Sherpa Amitabh Kant said on Thursday. Speaking at an event in the national capital, Kant also expressed confidence that the country, which has a young population, will grow at higher rates. According to him, the world is open to India and there is no reason why the country should not grow at higher rates. Highlighting the importance of going green, Kant said that otherwise countries will "neither be able to export to the markets and this is all going to happen before our eyes in the next 5 years." At the SHRM India Annual Conference 2023 here, he also said that India has ideal weather conditions and can go green to redefine its growth model "to become the first country in the world to industrialise without carbonising". During a discussion on his book 'Made in India: 75 Years of Business and Enterprise,' Kant said, India is the only

Rs 47 trn required to decarbonise country's steel, cement plants: Study

India's existing steel and cement plants, which play a vital role in the country's economic development, will require Rs 47 lakh crore in additional capital expenditure (CAPEX) to achieve net-zero carbon emissions, according to a new study. India is the second-largest producer of steel and cement in the world. But both are emission-intensive processes making these hard-to-abate industries. The study, the first-of-its-kind calculation of the cost of decarbonising these industries, also pointed out these two sectors will need Rs 1 lakh crore each year in additional operational expenditure (OPEX) to achieve net zero. Net zero means achieving a balance between the greenhouse gases put into the atmosphere and those taken out. The analysis by the Council on Energy, Environment and Water (CEEW) also found that an 8 to 25 per cent reduction in steel emissions and a 32 per cent reduction in cement emissions is possible without any price increase by adopting efficient technologies such as ..

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount. The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions. "The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said. The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added. Financial details of the deal were not disclosed. "Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of .

EU's CBAM: Taxing trade for transition amid global climate concerns

Carbon Border Adjustment Mechanism strains global trade, questions Paris Agreement's ethos, writes Advocate Jatinder Cheema

Rupee-denominated green bonds to pick pace from FY24: SBI's Dinesh Khara

He highlighted that India began green bond issuances in 2014, has garnered Rs 43 billion through green bonds and has been instrumental in augmenting the adoption of renewable energy

Net-zero emissions target by 2070 little too long-term: Hardeep Puri

Union Minister Hardeep Singh Puri on Monday said achieving the net zero emissions target by 2070 is "little too long-term", indicating that the country may achieve the milestone ahead of the deadline. Under the net zero target, India will completely switch to renewables by 2070. Addressing the 26th Energy Technology Meet, Puri said: "Our net zero target by 2070 is a little too long-term." He is of the view that India is moving fast towards energy transition and stated that for GAIL, Bharat Petroleum Corporation Limited (BPCL) and others the energy transition target is 2035 to 2040. He explained that energy transition in India will first be from fossil-based to cleaner fuels and further to renewables. He also noted that global uncertainty is a dynamic driver for energy transition. On the Israel-Palestine conflict, he said such crises make the energy transition faster towards biofuel, renewables etc. Israel came under attack by Hamas militants on Saturday and since then, both side

Aramco, Siemens to sign pilot project for carbon capture and storage

Extracting carbon dioxide from the atmosphere rather than sources of emissions, the direct-air method is the costliest application of carbon capture, according to the International Energy Agency

Essar Oil UK selects Mitsubishi as technology licensor for carbon capture

Essar Oil UK Limited (EOUK) on Friday said it has selected Mitsubishi Heavy Industries Ltd as technology provider for the development of the required basic engineering design package for its new EET Industrial Carbon Capture facility based at Stanlow, UK. This is a leading use of carbon capture technology, associated with a fluid catalytic cracker within refineries globally. "Following a detailed due diligence process, technology provider MHI has been selected for the carbon dioxide capture process section of the plant. Once captured, the carbon dioxide will be permanently sequestered into depleted gas fields under the sea in Liverpool Bay, as part of the HyNet cluster in the North West of England," the company said in a statement. Essar had announced the proposed construction of the EET Industrial Carbon Capture plant at the Stanlow Refinery in November 2022. Participating in the Cluster Sequencing Track One Expansion process, the company plans for the facility to be operational i

India, Japan launch $600 million fund for low carbon emission projects

JBIC will contribute 51% of $the 600-million fund, and India the rest

Emission reporting phase of EU's carbon tax regime starts from October 1

Indian firms must share emission data in the format prescribed by the EU with the declarant much before this date

EKI Energy Services picks up 26% stake in WOCE Solutions for Rs 80 lakh

EKI Energy Services Ltd on Friday said it has completed the acquisition of a 26 per cent stake in WOCE Solutions Private Limited (WOCE) for around Rs 80 lakh. In March 2023, its Board of Directors approved to subscribe to 35,140 equity shares of Rs 10 each at a premium of Rs 217.66 per share of WOCE Solutions Private Limited (WOCE), which resulted in the acquisition of 26 per cent of the equity capital of WOCE, EKI Energy Services Ltd (EKESL) said in a regulatory filing. "EKESL has successfully acquired 35,140 equity shares of WOCE, constituting 26 per cent of the equity shares capital of WOCE. As a result of the same WOCE has become an associate of the company," it said. A consideration of Rs 79.99 lakh will be paid in cash for the subscription of shares. EKESL said the acquisition will enhance the company's sustainability services by extending the facility to calculate and track carbon footprint. EKI Energy Services is a carbon credit developer and supplier across the globe.

Tata Steel inks pact with IOCL to further reduce carbon footprint

Tata Steel on Thursday said it has signed an agreement with Indian Oil Corporation Limited and its business associate to further reduce carbon footprint at its Ferro Alloys plant. The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha, the steel major said in a statement. Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions. This eco-friendly move is expected to bring about a considerable reduction in carbon emissions, it said. Tata Steel's Ferro Alloys and Minerals Division Executive-In-Charge Pankaj Satija said, "The agreement, which is a part of our sustainability initiatives, will help us in reducing the carbon footprint at our

Steel scrap availability to be challenging as 60 nations plan to ban trade

Availability of scrap is going to be challenging as more than 60 countries have either banned or are in the process of banning scrap exports, Steel Secretary Nagendra Nath Sinha said. The secretary also highlighted the lower usage of scrap in steel making in India and said that the usage is not meeting the government's expectations for bringing carbon emissions down. The government has been pushing domestic players to increase the share of scrap in steel manufacturing. "Unlike the Western countries, India's scrap usage in steel making is lower. India had availability of around 25 to 27 MT of scrap and going forward this number will certainly go up, but not as much we would like to for our carbon emissions to come down," Sinha said on Thursday. The availability of scrap is going to be challenging as over 60 countries have either banned or are in the process of banning the export of scrap, he said addressing the 'mjunction Indian Steel Markets' conference here. Another issue, Sinha

India to set emission reduction mandates, start carbon trading from 2025

Companies which exceed their targets earn carbon credits that can be sold to firms which fall short of their goals

NTT Communications leads to significant CO2 reduction in agriculture

Based on collaboration with Yanmar Holdings, this project is moving forward. It is well known for its agricultural equipment and facilities. The project aims to get advantageous carbon credits

Upgrading iron plants could lower 2 yrs' worth of emissions by 2050: Study

Roughly two years' worth of global carbon emissions could be cut down by 2050 if iron and steel plants worldwide were upgraded earlier than their scheduled repair, scientists report in a new Nature study. While upgrading these processing plants with low-emissions technology five years earlier than their scheduled refit could lower 70 gigatonnes of carbon emissions, retrofitting them at their scheduled refit could cut down roughly 60 gigatonnes of emissions, the researchers from the University College London, UK, said in their study. Most of the total projected carbon savings, about 74 per cent, could be achieved by upgrading blast oxygen furnaces globally, all of which contribute to around 63 per cent of the world's steel production, the research team found by creating a vast database of more than 19,500 individual processing units across nearly 4,900 iron and steel plants. The second highest net carbon savings (16 per cent of the projected total) could come from retrofitting electr

Truly a turning point in resetting competitiveness: Tata Steel ED & CFO

Tata Steel ED & CFO, Koushik Chatterjee, discusses how the structural issues of the plant are going to be fixed and impact of carbon border adjustment mechanism

Britain to pump $621 million into Tata Steel to decarbonise Welsh plant

Tata Steel currently employs more than 8,000 people, raising the prospect that there will be as many as 3,000 redundancies as the lower-carbon electric furnaces are less labour intensive