Page 4 - Carbon Emissions

British Steel plans plant closure after failing to agree deal with UK govt

British Steel said Thursday that it is planning to close its two blast furnaces and steelmaking operations in the northern England town of Scunthorpe, after its Chinese owner Jingye failed to agree a rescue package with the UK government. Unions called on the government to help secure the future of the company, which Jingye said is suffering daily losses of around 700,000 pounds (USD 900,000) despite the Chinese firm investing more than 1.2 billion to maintain operations since its takeover of British Steel in 2020. The company, Britain's second-biggest steelmaker, blamed highly challenging market conditions, the imposition of tariffs, and higher environmental costs relating to the production of high-carbon steel. British Steel said it is consulting with unions over the the decision to close the blast furnaces and steelmaking operations and reduce rolling mill capacity, potentially as early as June. Between 2,000 to 2,700 jobs are potentially at risk. The company had sought support

India, Japan likely to sign pact on sharing emission-reduction credits

Once finalised, carbon credits will be tracked through a registry, with joint committees managing projects and certifying credits issued based on reports

Microsoft leads carbon removal purchases, but overall demand remains low

Thus far, upward of 13.5 million metric tonnes-worth of carbon dioxide removal (CDR) credits have been bought, and just 4.7 per cent of those have been delivered

Can India's Carbon Credit Trading Scheme drive climate target success?

IETA estimates that by 2030, the global carbon credit market will be around $300 billion, growing to $1 trn to $1.5 trn by 2050. India is expected to be one of the big sellers

Railways on course to achieve Scope 1 net zero in 2025: Ashwini Vaishnaw

Scope 1 emissions are greenhouse gases emitted directly from an organisation's own sources or those under its direct control

Harry Singh Banga's Caravel Group sets sail on a zero-carbon mission

Banga acknowledges that companies have no choice but to adapt, despite energy transition ships running on dual fuels costing up to 20 per cent more than conventional vessels

Jindal Stainless investing Rs 700 crore on decarbonisation projects

Jindal Stainless Ltd (JSL) on Tuesday said the company is in the process of investing Rs 700 crore in decarbonisation projects to achieve its net-zero goals by 2050. The investments will continue over next five years to set up various environment-friendly projects, which include renewable energy, green hydrogen, biodiversity conservation, waste management and adoption of carbon capture technologies, JSL said in a statement. "By investing Rs 700 crore in decarbonisation projects over the next five years...aim is to achieve financial and environmental goals, significantly reducing GHG emissions and carbon intensity by 50 per cent by FY35, and accomplishing net-zero emissions by 2050," the company said. JSL also said that it launched a task force on nature-related financial disclosure (TNFD) report aims to identify, assess, and mitigate nature-related risks while capitalising on opportunities to ensure business resilience and environmental stewardship. TNFD framework focuses on the fo

India's climate future lies in renewable energy, says Bhupender Yadav

Union Environment Minister Bhupender Yadav said that climate change impacts both developed and developing nations, but the historical burden of emissions lies with the Global North

India advocates tech transfer between Global South and North: Yadav

India, as a voice of Global South, believes that to fight climate change, developing countries need financial assistance, said Union minister for environment, forest and climate change Bhupendra Yadav

India should push for provisions in FTA to address EU's carbon tax: GTRI

India should push for inclusion of protective provisions in its proposed free trade agreement (FTA) with the European Union to safeguard its interests against the EU's carbon tax, think tank GTRI said on Thursday. The EU has decided to impose Carbon Border Adjustment Mechanism (CBAM), or carbon tax, which will come into effect from January 1, 2026. It would mainly impact seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products. The Global Trade Research Initiative (GTRI) said that if protective language is not included in the agreement, post FTA, EU goods will enter India duty-free, while Indian steel and aluminum could face high carbon charges under CBAM when exported to the EU. "Since CBAM imposes tariffs based on production methods, it violates WTO (World Trade Organisation) rules. India must push for protective language in the FTA to address this issue," GTRI Founder Ajay Srivastava said. The suggestions came at a time when Europea

'UN carbon programmes may help India take a fifth of $1 trn global market'

Some market participants are impatient, I think. They have got other recognised independent standards which they can use in the interim, said DIRK FORRISTER, president and chief executive of the IETA

State Bank of India aims to be net-zero by 2055: Chairman C S Setty

State Bank of India Chairman C S Setty on Sunday said the largest Indian lender is targeting to be Net-Zero by 2055. The bank will be celebrating its centenary year of existence then, he said. Setty made the remarks after flagging off the "SBI Green Marathon Season 5" event in the financial capital, according to a statement. Over 10,000 runners participated in the 5km, 10km and 21 km categories of the event held here. There will be similar events in Vizag, Lucknow, Chandigarh, Ahmedabad, Pune, Guwahati, Bhubaneswar, and Patna. Running legends Vinod Kumar Sharma, Barun Kumar, Vishak Krishnaswamy, Ashish Arya, Sarika Jain, Raj Gandhi and Rinkoo Singh were present at event, the statement said.

Renault beats profit forecast in 2024, warns on EU emissions rules

The company, one of the few in the sector to have maintained its targets last year, reported operating profit of 4.3 billion euros ($4.49 billion), up 3.5 per cent on the previous year

India, France intend to jointly develop advanced nuclear reactors

India and France on Wednesday expressed an intent to jointly develop modern nuclear reactors, emphasising that nuclear power was crucial for energy security and transition to a low-carbon economy. The two countries signed a letter of intent on Small Modular Reactors (SMRs) and Advanced Modular Reactors (AMRs), according to a joint statement issued after Prime Minister Narendra Modi met French President Emmanuel Macron in Paris. "Prime Minister Modi and President Macron stressed that nuclear energy is an essential part of the energy mix for strengthening energy security and transitioning towards a low-carbon economy," according to the statement. SMRs are compact nuclear fission reactors that can be manufactured in factories and then installed elsewhere. They typically have a smaller capacity than conventional nuclear reactors. The two leaders also acknowledged the strong civil nuclear ties between India and France and efforts in cooperation on the peaceful uses of nuclear energy, ..

Environment, carbon emission neglected in sustainable development: Study

Environment, carbon emission, biodiversity and malnutrition are among the issues that remain neglected by certain groups of countries, according to a recent study that analysed the trajectories of 166 nations towards attaining sustainable development. In 2015, member states of the United Nations adopted the 2030 Agenda for Sustainable Development. Aimed at achieving human progress, economic prosperity, and planetary health, the framework outlines 17 Sustainable Development Goals (SDG), including no poverty, zero hunger, quality education and gender equality. Questions, however, remain as to how different nations navigate their own paths toward these goals, said an international team of researchers from different countries, including Australia, China and Israel. Their study, published in the journal Nature Communications, found a "polarised global landscape" with systematically neglected SDG targets, potentially leaving behind millions of people. "Our results reveal a polarised glob

5 new Indian industrial clusters join WEF; commit to growth, jobs creation

As many as 33 industrial clusters from 16 countries, including five from India, on Wednesday committed to economic growth, jobs creation, and emission cuts as part of the World Economic Forum's Transitioning Industrial Clusters Initiative. The initiative, first launched at COP26 climate summit in 2021, and developed in collaboration with Accenture and EPRI, now comprises 33 clusters in 16 countries and five continents, the largest coalition of co-located companies and public institutions pledging to reduce their greenhouse gas (GHG) emissions while boosting economic growth and job creation. The 33 signatories together represent potential carbon dioxide-equivalent emissions reductions of 832 million tonnes -- approximately the annual emissions of Saudi Arabia, the World Economic Forum announced here during its Annual Meeting 2025. They also make a direct contribution of USD 492 billion to gross domestic product (GDP) and support 4.3 million jobs. In addition, a new report, published

Carbon markets investor kicks off $1.5 bn Amazon protection plan in Davos

The initiative is the first major campaign by Silvania, a $500 million nature and biodiversity investment vehicle, working with Conservation International and The Nature Conservancy

Blending dilemma: Conflicting priorities on flex-fuel need clear policy

Ethanol in India is derived primarily from sugarcane, a crop that is not only water-intensive but is also being increasingly diverted to ethanol production

Delhi records 'poor' AQI again as Grap rule changes spark confusion

Amid the confusion over Grap curbs, Delhi woke up to 'poor' air quality on Tuesday, a slight improvement from the 'very poor' category recorded the previous morning

Google signs deal to buy carbon removal credits from Indian farms

While some developers are looking at expensive new technologies that extract CO2 directly from the air, solutions like biochar could prove a cheaper near-term option