Page 14 - Carbon Emissions

India, EU officials to discuss New Delhi's concerns over carbon border levy

India and the EU established a Trade and Technology Council (TTC) last year, the trade bloc is prepared to engage with India on potential challenges the latter could face due to CBAM's implementation

Reports of extra 10% GST on diesel cars false, says Union Minister Gadkari

Nitin Gadkari said that it is essential to clarify that there is no such proposal currently under active consideration by the government

EKI Energy Services to announce results for last 2 quarters by Sept 20: MD

Carbon credit developer EKI Energy Services (EKI) plans to announce its financial results for the June and March quarters by September 20, a top company official said on Thursday. The results will be submitted to the exchanges, the company's Managing Director Manish Dabraka told PTI. Dabraka cited differences with its immediate previous auditor as the main reason for the delay in the announcement of the results for the first quarter of this fiscal and the last quarter of 2022-23. "Audit firm Anmol Bhora & Cowas ended serving us in November 2020 during our listing process as they were not meeting regulatory norms needed for a listed entity, following which D N Jhmab & Company was appointed as the next auditor with shareholders' approval," Dabraka said. However, in November 2020, the contract with DN Jhmab & Company ended as the auditor requested to discontinue its audit services for the company due to its pre-commitment with other clients, post which Walker Chandiok & ..

Industry seeks govt intervention on data requirements for EU's carbon tax

Indian industry from sectors like steel has flagged its serious concerns over the 'burdensome' work of data reporting requirement to comply with the European Union's carbon tax decision and has urged the government to take up the matter with the EU, an official said. The issue was flagged in a meeting called by the commerce ministry on September 6. The government and industry held discussions on implementation issues regarding the European Union's move to impose carbon tax or carbon border adjustment mechanism (CBAM). Industry is of the view that the data sharing exercise is burdensome as the EU is seeking a lot of information. "Second, the industry also stated that the EU is also seeking commercially sensitive information. They want reduction in this reporting requirement. We discussed all those issues as to how that reporting will be done, we are trying to understand their problems," the official added. According to think tank GTRI co-founder Ajay Srivastava, CBAM imposes massive

How carbon emissions accounting helps in achieving net zero targets

The process of calculating the amount of greenhouse gas emitted directly by operations or indirectly by supply chain and subsidiaries is known as carbon accounting

Tata Steel, ABB India partner to develop tech to reduce carbon footprint

Automation company ABB India and Tata Steel have partnered to jointly work on technologies for reducing the carbon footprint of steel production. The steelmaker has a medium-term target to reduce carbon emissions to less than two tonnes of Co2 per tonne of crude steel in its Indian operations by 2025, ABB India said in a statement. "Tata Steel Ltd and ABB India have signed Memorandum of Understanding (MoU) for a project and will work together to co-create innovative models and technologies to help reduce the carbon footprint of steel production," the statement said. Under the MoU, the two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and circularity. ABB and Tata Steel will explore energy optimization via hydrogen as an alternative fuel for upstream processes and energy reduction as well as substitution through ful

Carbon markets 'bogus solutions' as rich keeps polluting: African activist

A Nigerian environmental activist declared Wednesday at the first African Climate Summit that carbon markets are bogus solutions, providing a sharp reminder that not all of Africa's 1.3 billion people support richer countries using the continent's green spaces to offset continued polluting at home. The summit has sought to reframe the African continent, which has enormous amounts of clean energy minerals and renewable energy sources, as less of a victim of climate change driven by the world's biggest economies and more of the solution, with. But investment in the continent in exchange for the ability to keep polluting elsewhere has angered some in Africa who prefer to see China, the United States, India, the European Union and others rein in their emissions of planet-warming greenhouse gases. We reject forced solutions on our land, Priscilla Achakpa, founder of the Nigeria-based Women Environmental Programme, told summit participants on the event's final day. She urged the so-called

India among five major global economies in race to reach net-zero

"India is making progress in incorporating solar and wind into its electricity generation, almost doubling its share from 2017 figures (5 per cent to 9 per cent)," the report said

ONGC to invest Rs 2 trn in energy transition projects, says chairman

State-owned Oil and Natural Gas Corporation (ONGC) will invest about Rs 2 lakh crore to achieve zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Tuesday. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind energy projects, he told reporters here. The remaining would flow thereafter to achieve Scope-1 and 2 net zero carbon emissions. All this while it continues to hunt and produce more oil and gas. "It is not an 'or' strategy. It is an 'and' story. ONGC will continue to invest in oil and gas exploration and production and also in energy transition projects," he said. The company will pursue both simultaneously. "ONGC has enough heft, financial muscle to do both," he said. The company currently has 189 MW of capacity to generate electricity from renewable sources. It is targeting 10 GW by 2030. The firm already has signed MoU for 5 GW in Rajasthan and is scouting for projec

Amazon now has over 6,000 electric vehicles in its India delivery fleet

Amazon is among many e-commerce firms and consumer goods manufacturers, that are scaling up EV deployment efforts to reduce costs and meet carbon emission targets

Global carbon credits market expected to touch $250 bn by 2030, says expert

The global market for carbon credits is expected to witness an upward trend and touch the level of USD 250 billion by 2030, an industry executive said. The market for carbon credits took a hit due to multiple reasons, including Russia-Ukraine war, interest rate hikes, and reduced demand leading to falling prices up to 80 per cent, Manish Dabkara, Chairman and Managing Director (CMD) of EKI Energy Services, said in an interview. "The market for voluntary carbon offsets which valued at around USD 2 billion in 2021 witnessed a downturn, and now valuing at USD 500 million. However, various ratings and research firms are bullish on the improvement in the carbon market," Dabkara said. Citing a Barclays report, the industry executive said, factors like stringent climate policies by various countries, their commitments under Paris agreement to reduce carbon emissions, and corporate sustainability goals are likely to contribute to the growth of the carbon credits market which is expected to

Delivering carbon neutrality for ASEAN could unlock $5.3 trn opportunity

This transformative Strategy lays out ASEAN's bold ambition to go beyond business-as-usual for economic integration, and strategically position the region favourably for a carbon-neutral future

ONGC to invest Rs 1 trn by 2030 to transform into low-carbon energy player

State-owned Oil and Natural Gas Corporation (ONGC) is investing Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen as it looks to transform into a low-carbon energy player, the company said. In a statement, India's largest crude oil and natural gas producer said it has detailed a "roadmap to scale up its low-carbon energy portfolio significantly". "ONGC has aligned itself with India's ambitious goals and is wholeheartedly contributing to the nation's aim to curtail carbon emissions by 1 billion tonne and simultaneously reduce carbon intensity by 45 per cent by 2030," it said. It said the firm has adopted various de-carbonization levers resulting in significant emission reductions over years. "Integrating sustainable practices into core operations has enabled a reduction in Scope-1 and Scope-2 emissions by 17 per cent in the last five years. ONGC has reduced its emissions by 2.66 per cent in FY23 (April 2022 to March

Amazon loses key backer 4 years into plan to eliminate carbon emissions

The Science Based Targets initiative, a United Nations-backed entity that validates net zero plans, has removed Amazon from its list of companies taking action on climate goals

'Developed nations overconsuming carbon budget; too little left for others'

Developed countries have consumed more than 80 per cent of the global carbon budget, leaving countries like India with very little carbon space for the future, the government said on Thursday. Responding to a question by BJP MP CM Ramesh, Minister of State for Environment Ashwini Kumar Choubey told the Rajya Sabha that India is doing far more than its fair share to combat climate change. Developed countries have consumed more than 80 per cent of the global carbon budget (since 1850) for limiting average temperature rise to 1.5 degrees Celsius by 2100, leaving countries like India with "very little carbon space for the future", the minister said. Rich nations are "eating into even this reduced entitlement" for India. Despite this, India has chosen to walk its climate talk, conscious of the need to pioneer a sustainable development pathway for the entire globe, while attending to the needs and aspirations of its people, economy and society, he said. Climate science defines carbon budg

DMRC to make passengers aware about CO2 emissions reduction due to Metro

Delhi Metro passengers will now be able to know on the go about the average amount of carbon dioxide (CO2) emissions they are reducing by virtue of their metro journeys, the DMRC said on Wednesday. The Delhi Metro Rail Corporation (DMRC) has unveiled a pioneering initiative called 'CarbonLite Metro Travel' to educate passengers about their significant contribution towards reducing carbon emissions by choosing metro trains instead of road-based motor vehicles, it said in a statement. Supported with a comprehensive research conducted by The Energy and Resources Institute (TERI), Delhi, the initiative underscores that each kilometer travelled by metro train instead of road vehicles "results in a noteworthy reduction of 32.38 grams of CO2 emissions", it added. "In line with India's aim of achieving net zero emissions by 2070, the initiative intends to highlight the pivotal role each citizen plays in addressing the pressing issue of climate change through their transportation choices," t

EU clears $3.2 bn in green subsidies for Thyssenkrupp, ArcelorMittal

The move highlights Brussels' efforts to help local industry decarbonise production and remain competitive with global rivals

Amazon.com Inc says its carbon emissions fell for first time in 2022

Amazon in recent years has been the biggest corporate buyer of renewable electricity

Here's how China beat everyone to be world leader in electric vehicles

Beijing's success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe

India's green hydrogen push and challenges, everything you need to know

Although first production is expected only in 2026, India has been negotiating bilateral agreements with the European Union, Japan and other countries to start exporting the fuel