Page 8 - Carbon Emissions

Carbon Border Adjustment Mechanism aims for global decarbonisation: EU

The Carbon Border Adjustment Mechanism aims to treat imported goods the same as EU-produced goods to help global decarbonisation, the Director-General of the European Commission has said following a visit to India to discuss tax and custom issues. Carbon Border Adjustment Mechanism (CBAM) is the European Union's planned tax on the carbon emitted while making goods imported from countries like India and China. The move has sparked a debate at multilateral forums, including the United Nations climate conferences, as the poorer countries fear such tariffs will harm livelihoods and economic growth. Director-General of the European Commission, Gerassimos Thomas, led a group of officials to New Delhi to discuss tax and customs issues, with a focus on CBAM, on July 1 and 2. He met the Indian government officials and business leaders to explore the manner in which it might affect the Indian industries and explain CBAM's goals and timeline. Thomas welcomed India's plans to decarbonise its ..

India takes first steps to meet 2070 net-zero goal, Niti Aayog forms panels

Six working groups created to identify issues, develop pathways, and suggest policy action on various aspects of climate change

Gail extends net zero carbon emission target by five years to 2035

State-owned gas utility GAIL (India) Ltd on Friday said it has advanced the target to achieve net zero carbon emission by five years to 2035 as it takes multi-prolonged approach to reaching the goal. The company was previously targeting net zero carbon emissions by 2040. "GAIL Board accorded approval to advance its net zero target for Scope-I and 2 emissions by five years, from the year 2040 to year 2035," the company said in a statement. Scope 1 covers emissions from sources that an organisation owns or controls directly -- for example from burning fuel in factories or even in its fleet of vehicles. Scope 2 are emissions that a company causes indirectly and come from where the energy it purchases and uses. For example, the emissions caused when generating the electricity. "This decision follows an extensive study undertaken by GAIL to enhance its sustainability goals and align with India's broader net zero commitments," it said. "GAIL plans to achieve this ambitious goal through

Global carbon removal market could touch $100 bn/yr from 2030-35: Report

Demand for credits has begun to increase from sectors as diverse as technology and finance, chemicals and aviation but it's not yet large enough to drive the scale of projects

Denmark to be 1st to impose tax on livestock carbon emissions: Danish govt

A tax was first proposed in February by government-commissioned experts to help Denmark reach a legally binding 2030 target of cutting greenhouse gas emissions by 70 per cent from 1990 levels

EU Commission plan may exempt long-haul flights from new emissions rules

The EU is developing plans to require airlines to track and report their contribution to climate change from January 2025

CREDAI joins hands with AEEE to promote net zero buildings in India

The building sector accounts for 25 per cent of India's greenhouse gas emissions and is expected to exceed India's total remaining carbon budget by 2070

'AI can help shipping industry cut emissions by 47 mn tonnes every year'

The use of the technology could reduce the need for maneuvers and route deviation from close encounters with high-risk marine targets

Cars could get costlier as automobile emission norms set to tighten

Under the third phase of the corporate average fuel efficiency standards, automakers must reduce carbon emissions by one-third in three years

Danfoss calls for means to help India get closer to net-zero ambitions

Climate change and rapid urbanization is likely to result in increased demand for food, water and energy, Ravichandran Purushothaman, President, Danfoss India has said. Danfoss engineers solutions that increase machine productivity, reduce emissions, lower energy consumption, and enable electrification. According to Purushothaman, India's cooling demand is expected to grow 10-fold by 2030 and it is imperative to meet the same through sustainable means to help the country get closer to its net-zero ambitions. "We are working towards bridging the tech and skill gap, helping farmers and businesses reduce food loss and improve food security in the Indian cold chain," Purushothaman said. With around 14 per cent of food worldwide lost due to a lack of effective refrigeration, enough to feed 1 billion people, Danfoss has called for more attention on the need to establish sustainable and energy-efficient cold chain infrastructure. When it comes to the Indian Cold Chain Infrastructure, a .

Here's how disruptions in the Red Sea are driving up carbon emissions

For companies struggling to account for "and lower" the climate-warming emissions associated with their businesses, these rerouted journeys add to the challenge

China falling emissions since Covid signal peak carbon may already be here

Emissions fell 3 per cent in March from the prior year, the first annual decline since January 2023, Lauri Myllyvirta, senior fellow at Asia Society Policy Institute, said

Shell shareholders reject investor climate resolution filed by activists

The company, however, introduced a new 'ambition' to cut overall emissions from oil products such as gasoline and jet fuel sold to customers by 15-20% by 2030 compared with 2021

Global carbon emissions pricing raised record $104 bn in 2023: World Bank

The largest single contributor to global carbon revenue is the EU's Emissions Trading System

Amid Houthi attacks, Red Sea diversions spew emissions equal to 9 mn cars

The additional fuel burned has led to approximately an extra 13.6 million tons of CO2 emissions over the past four months - equivalent to the pollution of about 9 million cars

Tamilnadu Petroproducts partners with EY-Parthenon for carbon neutral goals

Industrial chemicals manufacturer Tamilnadu Petroproducts Ltd has roped in strategic consultancy firm EY-Parthenon to support its carbon-neutral goals, the company said on Wednesday. By leveraging EY-Parthenon's expertise in sustainability strategy formulation and execution, Chennai-based Tamilnadu Petroproducts Ltd aims to develop an integrated carbon-neutral roadmap aligned with its long-term sustainability goals. "Tamilnadu Petroproducts Ltd is taking proactive steps to contribute to climate change objectives. Our collaboration with EY-Parthenon, signifies a deliberate move towards this objective with a scientific, measurable and time-bound approach," said its Vice-Chairman Ashwin Muthiah. Tamilnadu Petroproducts Ltd produces industrial intermediate chemicals including Alkhyl benzene, Caustic Soda and Propylene Oxide. "We are pleased to partner with Tamilnadu Petroproducts Ltd on their journey towards carbon neutrality. Leveraging EY-Parthenon's deep knowledge of value led ...

Majority of top-100 firms making disclosures about carbon emissions: PwC

Supplementing the efforts of the Indian government to achieve a net-zero emission target by 2070, as many as 51 per cent of the top-100 companies have started making disclosures on a voluntary basis about carbon emissions, says a PwC India survey. The survey further said that about 31 per cent of the respondent companies have disclosed their net-zero targets. The government and the regulators have introduced new regulations pertaining to ESG (environmental, social and governance) for businesses. India's transition to BRSR Core positions the nation as a frontrunner in the global transition towards a more credible and transparent sustainability reporting landscape. "51 per cent of India's top 100 listed companies by market capitalisation disclosed their Scope 3 data for FY23 despite it being a voluntary disclosure in Business Responsibility and Sustainability Reporting (BRSR)," said the report, 'Navigating India's Transition to Sustainability'. This, it added, "sheds light on how Ind

Jindal Stainless cuts 2.4 trn tonnes of CO2 emissions in last two fiscals

Jindal Stainless has reduced 2.4 lakh tonnes of carbon emissions between 2022-23 and 2023-24, according to a company statement on Wednesday. Jindal Stainless Ltd (JSL) is taking various measures to reduce the carbon component in its emissions to nil by 2050. The company plans to generate over 1.9 billion units of clean electricity per annum with a target to reduce over 13.52 lakh tonnes of carbon emissions annually by the targeted year. "In the last two fiscals (FY22 and FY23), the company has managed to successfully reduce 2.4 lakh tonnes of Co2 emissions) taking it a step closer towards carbon neutrality and responsible manufacturing," the statement said. The company said it has started using renewable energy sources for its operations. It has also started producing green hydrogen to be used in steel-making processes. Besides, JSL has undertaken digitalisation and technology upgradation for energy efficiency and using EVs at its facilities in Odisha and Haryana. "These initiati

SBTi green lights controversial offset for supply chain emissions

Selling credits from wind farms and other activities to a company so it can offset pollution is seen as a way to help move money to climate-friendly projects

Climate change: 3 grand challenges

The Indian community needs to develop a shared consensus on three challenges