The Economic Times
English Edition
| 22 September, 2021, 09:16 AM IST | E-Paper


    Airtel commits to big cut in emissions by 2030-31

    Bharti Airtel said the targets will be achieved through green energy adoption across its network operations, energy-efficient infrastructure and processes. The company has committed to reducing 50.2% of greenhouse gas (GHG) emissions across its operations by 2030-31.

    HP, Procter & Gamble join companies pledge to cut emissions

    The Climate Pledge, a grouping of companies and organizations spearheaded by Amaz...

    • The money collected would go into a climate fund that would be used to deploy bunkering infrastructure in ports around the world to supply cleaner fuels such as hydrogen and ammonia, according to the proposal.

      According to the International Energy Agency, 96% of hydrogen produced worldwide is made using fossil fuels - coal, oil and natural gas - in a process known as reforming. This involves combining fossil fuels with steam, and heating them to around 800°C. Eventually, you get carbon dioxide (CO₂) and hydrogen.

      The main stumbling block: Most hydrogen used today is extracted from natural gas in a process that requires a lot of energy and emits vast amounts of carbon dioxide. Producing natural gas also releases methane, a particularly potent greenhouse gas.

      The Sixth Assessment Report (AR6) of the Intergovernmental Panel on Climate Change (IPCC), approved by the 195 member countries, cautioned that every region on earth will witness the worst irreversible effects of climate change in the coming years, including sea-level rise and a surge in heat waves, rainfall and floods.

      “Buildings contribute around 35% of carbon emissions and with the vast majority of housing stock yet to be built in India, it can have devastating impact,” said Monu Ratra, chief executive at IIFL Home Finance. The dwelling units are responsible for about 40% of global energy consumption and about one-third of global greenhouse gas emissions, according to the World Economic Forum.

      The Unctad report also warns the EU about the trade consequences of CBAM: if the EU implements CBAM with a price of $44 per ton of embedded CO2, it will lower developing countries exports of targeted sectors by 1.4%. If implemented with an $88 per ton price, these exports will decline by 2.4%. A bigger threat to global trade would be from tariff retaliation.

      CBAM is what will kindle most debate. Imports, initially in the cement, aluminium, iron and steel, fertiliser and electricity sectors, will bear a levy reflecting the carbon price that units in the EU would pay. The intent is to avoid the flight of industry to jurisdictions with lower emission norms and to give EU industry a level playing field will be political contentious.

      Tata Consultancy Services (TCS) plans to reduce its absolute greenhouse gas emissions across Scope 1 and Scope 2 by 70% by 2025 and achieve net zero emissions by the end of the decade.

      Maritime transport accounts for 2.5 percent of greenhouse gas emissions globally and 13 percent of emissions from the EU's transport sector, according to the Commission.

      Greece recorded the largest decrease (-18.7per cent), followed by Estonia (-18.1per cent), Luxembourg (-17.9per cent), Spain (-16.2per cent) and Denmark (-14.8per cent).

      Switching to electricity-based transportation will be more expensive and harder to accomplish. Major emitters in manufacturing will also be affected. But President Biden’s overall chances of success will be tied to the cooperation he gets from the leg isl at u re which wi l l need to support more efficient mitigation mechanisms like carbon taxes and emissions trading schemes, Robert O. Mendelsohn said.

      US President Joe Biden targets 50 to 52 per cent reduction from 2005 levels in economy-wide net greenhouse gas emission by 2030. Says that will create millions of good-paying, union jobs, ensure economic competitiveness, advance environmental justice, and improve the health and security of communities across America.

      India being obligated to join the net-zero bandwagon is not unlike Bachchan's character being forced by his brother to surrender to the police and rectify his ways. Except, unlike in the film, 'Ma' – the two feuding brothers' mother – 'Ma,' in the real world 'moral authority', stands with India, the non-signatory.

      Several trade groups, representing more than 90% of the world’s merchant fleet, have submitted a proposal to shipping’s United Nations regulator calling for it to prioritize a carbon tax for the industry, the International Chamber of Shipping.

      Prime Minister Yoshihide Suga has set a goal of making Japan carbon neutral by 2050, and the government aims to finalise the 2030 target by the G7 summit in June, Kyodo said, adding that some compromises will have to be made as there are differing views among its ministries.

      Government measures over the past year to control the pandemic have at times shut down large parts of the economy, leading to lower power demand and fewer cars on the road.

    The Economic Times