Page 9 - Carbon Emissions

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

Best of BS Opinion: Climate change, Sheep and goats need meaty ideas, more

Here is the best of Business Standard's opinion pieces for today

Sporting goods retailer Decathlon aims to become net zero by 2050

It has set a target to reduce its carbon emissions by 20% in 2026 and 42% by 2030

Nitish releases draft report on strategies to cut carbon emission in Bihar

Bihar Chief Minister Nitish Kumar on Monday released a draft report that proposes strategies to reduce carbon emission in the state. The draft report on 'climate-resilient and low-carbon development pathway for Bihar' is in line with India's goal of achieving net-zero emissions by 2070. "The report provides a timely first-of-its-kind comprehensive analysis of future growth scenarios for Bihar to understand what a decarbonisation pathway entails and how it can spur economic growth, jobs and sustainability," state environment secretary Bandana Preyashi said at 'Bihar Climate Action Conclave' here. "The underlying principle driving the strategy is to embed climate action -- mitigation and adaptation -- into vision, programmes, policies, and budgets across sectors to lend credence to a net-zero and climate-resilient future," she added. According to the document, "development pathway focuses on choices and actions to reduce greenhouse gas emissions that contribute to climate change, and

BEE helps to reduce energy use by 3.5%, reduce carbon emissions: RK Singh

The programmes and initiatives of the Bureau of Energy Efficiency have helped the country to cut 3.5 per cent of energy consumption annually and reduce yearly carbon emissions by 306 million tonnes (MT), Union Minister RK Singh said on Friday. The minister made the remarks at the 22nd Foundation Day of the Bureau of Energy Efficiency (BEE), a statement issued by the Power Ministry said. "BEE helped India to reduce its energy consumption by around 3.5 per cent, and to reduce its carbon emissions by 306 million tonnes per annum," the Minister for Power and New & Renewable Energy said. Some of the BEE's programmes and initiatives are Buildings Energy Efficiency, Star Label for consumer goods, and Energy Efficiency in Small & Medium Industry etc. These initiatives aim to improve energy efficiency and reduce higher consumption of power. "Road transport accounts for 12 per cent of country-related carbon dioxide emissions and constitutes 92 per cent of all transport-related energy ...

Zero-emission hydrogen ferry launched by PM to pave way for green transport

India's first indigenously developed and built hydrogen fuel cell ferry, launched by the Prime Minister Narendra Modi on Wednesday, has zero emission and zero noise and can reduce the impact of global warming. According to Cochin Shipyard here, which constructed the fuel cell ferry, the adoption of green hydrogen as a maritime fuel is at the forefront of India's commitment to a sustainable future that aims for net zero emissions by 2070. The inland waterway vessel, under the Harit Nauka initiative, is a pilot project to demonstrate the technology for the maritime sector, Cochin Shipyard said in a statement. "The fuel cell powered vessel has zero emission, zero noise and is energy efficient, which in turn reduces the effect of global warming," it said. In line with the Government of India's green vision, Cochin Shipyard took up the ambitious project to design, develop and construct India's first fully indigenous hydrogen fuel cell catamaran ferry vessel to demonstrate the technology

EU carbon border tax will do little to cut emissions, says ADB report

It was designed to level the playing field and make foreign suppliers pay the same carbon price as domestic ones, even if they are not subject to an ETS or carbon tax at home

India will not accept unjust carbon emission mandates, says DPIIT secy

India will not accept any unjustified mandate on carbon emissions but will deliver more than the commitment it makes, a senior government official said on Friday. While speaking at the Aavaana-Startup India ClimateTech Challenge event, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said India's mandate is to become net zero by 2070. "We have accepted a stretched-out kind of goal because India believes we are not historically responsible for carbon emissions, even less in per capita terms, but the vision of the Hon'ble PM has always been that we will not accept unjustified mandates but we will deliver much more than we have promised," he said. Singh said India has already built the world's 4th largest renewable energy capacity of 180 gigawatts. "We are well ahead of our SDG (Sustainable Development Goals) goals," he said. He said that as India moves towards a greener future, start-ups will play a very important role through their innova

Urgent action needed to tackle India's carbon emissions: Prakash Javadekar

Rajya Sabha MP Prakash Javadker said as the world grapples with severe climatic upheavals, India's three per cent contribution to carbon emissions demand urgent action. The brunt of climate change falls on the poor and as a responsible nation, it is "incumbent for us to lead the change", the former Union minister for environment, forest and climate change said at the National Movement of U75: Net Zero Workshop for NE Region at the Indian Institute of Technology, Guwahati (IITG), here on Tuesday. "With the rise of electric vehicles, infrastructure, and energy efficiency, India is making strides in reducing carbon emissions and achieving G20 targets", he said. As custodians of the environment, Javadekar urged everyone to prioritise watershed development, advocating the mantra, 'save water, generate water; save electricity, generate electricity.' He praised initiatives such as the climate-tracking app for universities and the net-zero workshop as demonstrations of collective commitmen

Global carbon markets value hits record $949 bn in 2023, shows data

The world's most valuable carbon market, the EU's ETS, was worth around 770 billion euros last year, up 2% from the previous year and representing 87% of the global total

Developing countries need more carbon space for growth: R K Singh

Developing countries need more carbon space for economic growth, Union Minister R K Singh said on Friday as he emphasised that 77 per cent of the legacy carbon dioxide load has been caused directly by the developed countries. India aims to reduce its carbon emission intensity by 45 per cent by 2030. "Now, what is the present status on our planet? You have some countries that are developed and their average per capita income as per IMF figures is about USD 58,700 per year," Singh said at the World Sustainable Development Summit 2024 in the national capital. Singh, who is in charge of the power as well as new and renewable energy ministries, said there are developing countries where the average per capita income is USD 6,770 per year. "Just imagine the disparity. Now these developed countries (became) developed using fossil fuels and you know 77 per cent of the legacy carbon dioxide load on our planet earth was caused directly by them... that has led to this global rise in temperatur

India a global force multiplier in climate change fight: PM lauds TERI

Celebrating TERI's 50 years since it was established, Dr Vibha Dhawan, Director General, TERI said that the institution has tirelessly dedicated efforts to mainstream sustainability

Maharashtra govt signs MOUs with 7 companies for green hydrogen production

Maharashtra Chief Minister Eknath Shinde signed Green Hydrogen Policy MoUs with seven companies. A move that has now made Maharashtra the first state to promote green hydrogen, he said.Maharashtra CM Eknath Shinde said, "Green Hydrogen Policy- MoUs have been signed with seven companies. This is a big achievement. Ours is the first state to promote Green Hydrogen. In this investment worth Rs 2.76 lakh crore is being made. Seven big companies are working on it. It is a flexible & liberal policy. 60,000-70,000 people will get employment through it."He further said that this was the vision of Prime Minister Narendra Modi."This is a huge step by the state government. Deputy CM Devendra Fadnavis has also attended several meetings. ArcelorMittal and Nippon has today signed MOUs worth an investment of 40,000 crores today. More than 20,000 people will get jobs. Maharashtra is industrial-friendly state. When I went to Davos, MOUs worth 3.53 lakh crores were signed," the CM said.He further