Emissions reduction: Ambition Vz reality

India’s carbon emissions are predicted to rise due to increased fossil fuel use in industry, power generation, transportation, and energy consumption.

By 2050, energy demand is expected to surpass any other region, driven by additional factors like urbanization and built space expansion.

Despite this, India’s investments in clean energy have increased rapidly in response to aggressive targets, according to IEA’s World Energy Investment report.

India’s carbon emissions and growth:

• India’s carbon emissions are expected to rise due to increased fossil fuel use in industry, power generation, and transportation.
• India’s annual GHG emissions have nearly tripled since the turn of the century, reaching a record high of 2.7 GtCO₂ in 2022, according to Statista.
• Global energy think tank, Ember Report placed India as the world’s third-largest solar power producer in 2023, surpassing Japan.
• India ranks 7th in the Climate Change Performance Index (CCPI), up one spot from the previous year.

The growth story:

Indian clean energy investment surged to $68 billion in 2023, a 40% increase from 2016 to 2020. Solar PV and low-emission power generation accounted for half. Fossil fuel investments reached $33 billion.

The country ranks high in GHG emissions and energy use but medium in climate policy and renewable energy. India is on track to meet 2°C benchmarks despite low per capita emissions.

The NDC impact:

The country is attempting to meet its national determined contribution (NDC) through long-term policies promoting renewable energy and domestic manufacturing.

However, its heavy reliance on coal, oil, and gas contributes to greenhouse gas emissions and air pollution. India’s high petrol and diesel taxes are disputed, with some describing them as effective but others pointing to government dependence. The country’s energy system, largely reliant on imported fossil fuels, may strain, leading to increased carbon emissions.

Furthermore, India and China’s recent change to the cover decision at COP28, stating ‘phase down’ instead of ‘phase out’, has slowed global efforts to end the fossil fuel era.

Large-scale renewable energy projects negatively impact local communities through land grabs and unequal distribution. Policymakers should focus on transformative adaptation, disaster risk management, ecosystem-based solutions, and equity.

Expert take:

Experts argue that India’s ambitious goal of achieving net-zero emissions by 2070 lacks ambition and political will.

They recommend a bottom-up approach, including tribal and rural communities, faster coal phase-out, reduced gas reliance, and expanded renewable energy.

They also suggest a move to reach net-zero by 2050 and create affordable, accessible, and sustainable infrastructure. India has auctioned over 20 gigawatts of renewable energy capacity in 2023.

Climate change was the core of an interesting panel discussion.

The key takeaways from the ASSOCHAM webinar titled, Leading the way: Driving environmental innovation held on the World Environment Day 2024.

The panel comprising Dr Mansa Nagabushanam – Chair DEI Assocham South Director, Centre of Excellence for Sustainability, and Director (Academics, research and administration), Ramaiah Institute of Management, Bangalore; L Sridhar, ESG Head, Bangalore International Airport Limited, Dr Suma Krishnaswamy, Founder President, Cambium Biotechnologies, was moderated by Renjini Liza Varghese, CEO, WriteCanvas.

Renjini set the ball rolling for the webinar with startling statistics: India experienced over 165 deaths in June, highlighting the urgent need for fresh solutions and a collaborative approach to mitigate climate change. She initiated the discussion by highlighting the increasing number of climate casualties, particularly due to rising temperatures.

Key takeaways:

Dr. Mansa Nagabhushanam, Chair DEI Assocham South Director, Centre of Excellence for Sustainability, and Director (Academics, research and administration), Ramaiah Institute of Management: Political leadership vital to equip policymakers to create effective action plans

Rapid urbanization in Bangalore has led to a rise in groundwater levels, potentially disrupting the cosmic cycle if water is depleted.
The industry body has a significant influence on policymakers and stakeholders, but this awareness must be converted into action for the country’s future.
Political leadership is crucial for providing policymakers with the necessary information, data, and research to develop effective action plans.
Implementation is the main challenge, necessitating a mindset change and awareness, with a bottom-up approach being more effective in sustainability.
Incubation centers are fostering start-ups in the sustainability sector, both tech and non-tech-based. For example, we have created a self-learning course on sustainability for corporates, ranging from basic to mid-level and senior managers, featuring gamified content. The multi-stakeholder approach involves policy makers, industry bodies, and even MSMEs.

Dr. Suma Krishnaswamy, Founder President, Cambium Biotechnologies: Synergy between self-help groups and NGOs needed to create a multi-stakeholder circular economy

Farmers face challenges due to excessive or insufficient water, long fertilizer usage, and ecosystem imbalance.
The green revolution has increased depletion of fertilizers, necessitating awareness and government support for reversing to natural farming.
Farmers must adopt organic methods to preserve soil, ecosystem, and consumers.
For 20 years, we have advocated for natural farming, requiring farmers to convert to natural methods instead of fertilizer or pesticides.
However, obtaining a license for plant-based pesticides is challenging due to their non-agrochemical category.
This creates a gap in efficiency and requires policy changes at individual levels.
Plant-based pesticides could be a starting point, with cooperative movements like women’s self-help groups attempting to manufacture these at a cottage level.
To market a circular economy, a synergy between self-help groups and NGOs is needed to create a multi-stakeholder circular economy.
Indigenous agriculture should balance conservation and productivity, focusing on species diversity and soil preservation.
Advanced agriculture may be profitable, but it may harm the ecosystem in the long run.
Traditional, healthy, and nutritive varieties are disappearing, while high-yielding crops may be profitable but detrimental to the ecosystem.
However, there is a gap in ideas and resources, as there is no consensus on how to effectively implement these solutions.

Use Case: Bangalore International Airport Limited

L Sridhar, Head, ESG, Bangalore International Airport Limited (BIAL): Addressing climate change risks and implementing a business continuity plan is crucial

Our airport sustainability strategy 2030 is focused on six key pillars: water stewardship, net zero carbon emissions, community-aligned noise management, sustainable procurement, sustainable mobility, and circular economy.
BIAL, a carbon neutral airport since 2017, is water positive with a 2.36 score and plans to achieve 100% of its portable water requirements through rainwater harvesting.
The organization is voluntary in contributing and taking up activities, not being regulated by many disclosures due to being a non-listed entity.
Management emphasizes the need for strong commitment and support for the organization’s sustainable agenda, emphasizing the importance of a methodology for identifying opportunities and collaborating effectively.
Economic sustainability is crucial for preserving people and the planet, and growth should not only be economic but also consider the people and planet aspects.
As passenger volumes increase, terminal expansion is necessary.
Addressing climate change risks and implementing a business continuity plan is crucial. Consistency is essential for sustainability journeys.
To manage the e-factor, the highest green-rated building is built, focusing on resource efficiency, circular economy, water stewardship, net zero emission energy efficiency, indoor air quality, and natural lighting.
Innovation is crucial for mitigation, and balancing the three Ps in infrastructure expansion strategy can help overcome challenges.
Sustainable growth and responsible growth are essential, and aspiring professionals should become sustainability professionals.
An architect should align with sustainability principles and contribute to innovation, especially in process areas.
Collaboration is key in delivering sustainability ideas, and a separate innovation team should collaborate across the organization.
Change effects should occur everywhere, and sustainability should be seen as a payback, regardless of the short, medium, or long term outcomes. Aligning with these principles can lead to fruitful concepts and successful implementation.

In 2023, carbon pricing revenues reached a record $104 billion, according to the World Bank’s annual “State and Trends of Carbon Pricing 2024” report.

Key findings:

Large middle-income countries including Brazil, India, Chile, Colombia, and Türkiye are making strides in carbon pricing implementation.

While traditional sectors like power and industry continue to dominate, carbon pricing is increasingly being considered in new sectors such as aviation, shipping, and waste.

Currently in a transitional phase, the EU’s Carbon Border Adjustment Mechanism, or CBAM is also encouraging governments to consider carbon pricing for sectors such as iron and steel, aluminum, cement, fertilizers, and electricity.

The India story:

India legalized a carbon market in 2022, establishing an ETS based on existing energy efficiency schemes in emission-intensive sectors, potentially evolving into a compliant carbon market.

Countries like India, Indonesia, Morocco, Türkiye, Ukraine, Uruguay, and the Western Balkans are implementing or considering direct carbon pricing to reduce compliance costs and capture EU revenue.

Government crediting mechanisms have been launched in five jurisdictions since 2023, bringing the total to 35 globally. 11 jurisdictions are considering carbon crediting mechanisms, including India revising its carbon pricing plans and Thailand upgrading its domestic crediting mechanism to Premium T-VER for international buyers.

Overestimation of cookstove impacts underscores need for accurate assessment methodologies. China and India remain largest host countries, but issuance volumes decrease 40% annually.

Carbon taxes and emissions trading systems currently cover 24% of global emissions, with significant progress in middle-income countries like Brazil, India, and Turkey. These countries recognize the need for climate action and the role of carbon pricing in climate mitigation strategies.

New carbon credit sources are emerging, and middle-income countries are integrating crediting frameworks into their policies. China, the EU, India, and Vietnam are relaunching their schemes, with voluntary action accounting for most demand, while compliance demand is slowly building.

Challenges:

Despite record revenues and growth, global carbon price coverage and levels remain too low to meet the Paris Agreement goals.

Currently, less than 1% of global greenhouse emissions are covered by a direct carbon price at or above the range recommended by the High-level Commission on Carbon Prices to limit temperature rise to below 2ºC.

The Paris Agreement’s temperature goals require urgent action to align mitigation efforts with cost-effective policies like carbon pricing. Implemented carbon taxes and emissions trading systems cover a quarter of global emissions, with revenue exceeding $100 billion in 2023.

The report notes that closing the implementation gap between countries’ climate commitments and policies will require much greater political commitment.

However, concerns over market integrity persist, leading to declining market activity and a growing pool of non-retired credits.

Data:

There are now 75 carbon pricing instruments in operation worldwide. Over half of the collected revenue was used to fund climate and nature-related programs.

When the first report was released, carbon taxes and Emission Trading Systems (ETS) covered only 7% of the world’s emissions. According to the 2024 report, 24% of global emissions are now covered.

“Carbon pricing can be one of the most powerful tools to help countries reduce emissions. That’s why it is good to see these instruments expand to new sectors, become more adaptable and complement other measures,” said Axel van Trotsenburg, World Bank Senior Managing Director. “This report can help expand the knowledge base for policymakers to understand what is working and why both coverage and pricing need to go up for emissions to go down.”

The way forward:

Governments are also increasingly using carbon crediting frameworks to attract more finance through voluntary carbon markets and facilitate participation in international compliance markets.

The steel industry’s decarbonization has been the main focus because it is essential to meeting the world’s net-zero emission targets. However, the cost of green steel production, lack of incentives, and regulations have created hurdles. But the good news is that the goal is achievable. While the cost of producing green steel may not be a hurdle for a few, regulations and price incentives are essential to drive the shift in investment and consumption towards green steel production, at large.

Undoubtedly, steel production is a major contributor to global carbon emissions, accounting for about 8% and roughly 30% of the segment emissions, respectively. In addition, the steel sector is also the leading consumer of coal, a key source of the heat and carbon required to convert iron ore into steel.

The good news is that the domestic primary steel producers are set to achieve their goal of reducing carbon emissions. According to a recent report from rating agency Crisil, Indian steel companies had set an ambitious target of reducing carbon emissions below 2 tCO2/tcs by 2030. The industry has already made significant progress. Steel manufacturers’ reported carbon emissions have decreased from over 3 tCO2/tcs in fiscal 2005 to 2.35 tCO2/tcs, which translates to a 65% reduction in targeted emissions.

The report also highlighted the benefits of emission reduction. Reducing emissions broadens fund-raising avenues, improves export competitiveness, and has a positive impact on credit quality. However, Crisil acknowledges the challenges that lie ahead to completely transitioning to low-carbon steel, also known as green steel.

Shifting Towards Low-Carbon Steel Production
Coal-fired steel plants are major contributors to CO2 pollution. To address this challenge, companies are exploring alternative solutions, such as using low-carbon energy sources like hydrogen, coal gasification, or electricity for steel production.

Meanwhile, media reports in China indicate that the nation’s steel industry could reduce carbon emissions by as much as 11% by 2025 if the government sets a more aggressive goal for the use of electric arc furnaces (EAFs).

Cost of Green Steel Production
The cost of green steel production in comparison to traditional methods and the viability of large-scale production are important considerations in this discussion. While the cost premium exists, it is not as high as initially feared, depending on the production location and method. The cost premium for green steel can range from negligible to around $150 per metric ton.

Crisil previously discussed the difficulties that Indian steel producers may encounter as a result of the EU’s CBAM. This mechanism may result in a 17% increase in the cost of India’s steel exports to the EU. When paired with greenflation, the overall effect might reach 40%.

The CBAM Deadline:
As per CBAM regulations, exporters will need to submit quarterly reports on their emissions starting October 1, 2023. From December 31, 2025, they will be required to purchase Emissions Trading System (ETS) certificates to offset their greenhouse gas emissions. Initially, industries will be granted free allowances to ease the transition, but these allowances will progressively disappear by 2034. The ETS tax will then become applicable to the portion of emissions not covered by free allowances.

The Indian steel industry is emerging as a frontrunner in decarbonization. Their significant progress in slashing emissions, exceeding halfway to their 2030 target, is a testament to their commitment to environmental stewardship.

Tata Power has been appointed as Municipal Corporation of Greater Mumbai (MCGM)’s partner for the solar-enabled demand flexibility program. Tata Power has also partnered with MP Ensystems Advisory Pvt Ltd for the project.

Through the strategic partnership, Tata Power introduced a water pumping scheme at BMC-Bhandup after identifying over 50 stations with high demand flexibility characteristics. During the 23-day trial period in February 2024, the program successfully achieved a shift of 345 KW for three hours per day. Over 23,000 units of electricity were generated, resulting in a carbon offset of 21 tonnes, the company said in a press release.

The initiative aims to shift water pumping demand from non-solar to solar and off-peak hours by utilizing renewable solar energy and efficient Time of Day tariff benefits. It also enables MCGM to reduce power consumption costs and provide clean, renewable energy for Mumbai residents through this initiative.

Tata Power estimates that by expanding the program to include the majority of the water pumping stations in the Greater Mumbai area, there could be a monthly demand shift of about 50 MW, which would add up to 1.8 million units and 1620 tonnes of carbon offset annually.

A fortnight away. COP28 will be held in Dubai from November 30 to December 12, 2023. The expectations are already soaring. Reams of print and screen are flush with experts demanding more action, pledges, funding, and green taxes.

However, logical and practical decisions by countries may differ from the promises made at COP28. At least, that is what I believe from past experiences.

Globally, every human being is fighting the ugly impacts of climate change in varied forms. Changing climatic conditions and unpredictable weather patterns are the new norm. Therefore, COP28 gains significance. The expectation from COP28 is to strengthen action plans further to mitigate the climate effect. But the deeds must be practical. Take the instance of India.

Recently, the power minister, RK Singh announced that the country would add 30,000 MW of thermal capacity to meet the surging power demand. The country already has 50,000 MW of coal-based capacity addition underway. It saw a 20% surge in demand annually in August, September, and October. All those coal-based plants running at lower PLF were asked to run at full capacity. This also means the fuel (coal) supply has to be met. Coal India, the state-owned mining company that supplies 80% of the fuel, also has been asked to optimize capacity. The power generators import the rest of the fuel.

The rationale, as the Minister pointed out, is that the country cannot ignore the demand surge and slow down growth because of the non-availability of power. It is a fact that to support the growth rate of a country; the energy sector has to grow at double that rate. For example, if India is growing at 7.5%, the country’s energy sector should grow at 15%.

India has an installed capacity of 4,17,688 MW (as of 31 May 2023). Coal alone constitutes 49.4% of this, and renewable energy, including large hydro, forms just above 41%. Though India has decided to move away from fossil fuels, in all practicality, coal is set to remain a mainstay for the foreseeable future. This is because the country is on the cusp of economic growth that is accelerated by many factors. To give a sneak peek, India is the third-largest power producer in the world. The per capita electricity consumption is still below 1500 units, which is way lower than in developed countries. It indicates that power demand will continue to surge going forward.

India has set its target to be net zero by 2070. An efficient and well-thought-out goal, as it is a coal-rich country, and considering the economic capacity, coal will continue to dominate power generation. It successfully added 1,25,692 MW of grid-connected wind and solar, which is an achievement. The country plans to increase the percentage of renewable energy to 50% by 2030. With all capacity additions planned in renewables and the pace at which it is progressing, I believe the Minister when he says that ‘we remain committed to our mitigation targets.’

India may not be the lone example. Take the case of Britain. Prime Minister Rishi Sunak pushed the deadline to sell petrol and diesel cars from 2030 to 2035. According to the latest reports, countries are way off their emission targets globally. By 2030, they need to reduce emissions by 45% to the 2010 levels to be on track to arrest global warming at 1.5 degrees Celsius. Let us see what takes priority in COP28—demand or environment.

The Amazon Reforestation Fund, an investment project started by Mombak, a Brazilian firm committed to generate top-notch carbon credits by reviving the Amazon’s forests, will receive $5 million from The Rockefeller Foundation. This financial donation is a part of a bigger $100 million funding plan created to support the largest biodiverse reforestation project with a goal of removing carbon from the region. Because of this assistance, Mombak will have the ability to increase soil health, boost biodiversity, extract carbon, and create opportunities for local residents that are economically viable.

“Nature-based solutions could help reduce one-third of the necessary global emissions by the end of the decade, but remain grossly underfunded, with an estimated $700 billion financing gap per year,” said Maria Kozloski, Senior Vice President of Innovative Finance at The Rockefeller Foundation.

“The Rockefeller Foundation is proud to help close this gap by investing in Mombak’s innovative model that seeks to remove carbon by reforesting the Amazon,” he added.

The company’s first project in Northern Brazil will plant three million trees with more than 100 native species, including 200,000 seedlings of endangered species. Over one million trees will be planted by next month, including endangered or vulnerable species such as Cedro Rosa (Cedrela fissilis), Castanheira (Bertholletia excelsa), Itauba (Mezilaurus itauba), Mogno (Swietenia macrophylla), and others. The first project has also had a positive impact on the region, creating over 50 formal jobs in the local municipality. It is expected that Mombak will kick off multiple additional projects of this kind before the end of 2023.

“The Rockefeller Foundation’s investment reinforces the integrity of our projects,” confirms Peter Fernandez, CEO and co-founder of Mombak. “One of the biggest issues in our industry is trust. We are working to create the world’s highest-integrity carbon projects.”

Mombak’s business model is centred on the creation, verification, and sale of carbon removal credits. It does this by reforesting Brazilian pastureland using native and biodiverse tree species to rebuild the forests of the Amazon. The additional carbon abated from the atmosphere from these new forests produces high-quality carbon removal credits. The credits are then sold via both spot sales and long-term customer offtake agreements.

Union finance minister Nirmala Sitharaman urged the chartered accountants in the country to learn about carbon, CSR, and ESG practices; and implement the same in their business practice.

She stressed the need for the CAs to familiarize themselves with national and international accounting standards, regulatory frameworks, and compliance mandates for carbon accounting, CSR and ESG.

“In each of these areas, you will have to set up best practices. Put your best efforts,” Ms. Sitharaman said addressing Cas at an event organized by the Institute of Chartered Accountants of India (ICAI) in Bhubaneswar.

Sustainability or green initiatives have set as a wider canvas for companies to define a set of standards to be more environmentally conscious. With climate change being a reality, and with the awareness of actions to arrest climate change increasing, all corporates feel the pressing need to initiate, activate, measure and audit the steps that are taken under sustainability.

Sustainability for each segment of business comes with varied set of compliances. Cement sector historically carries the burden of being the most polluting manufacturing. Starting from mining to packaging, there are various stages where the industry is burdened with the tag of being a polluting industry. Much has been changed in the recent decade with many of the companies, globally adapting measures to bring in improvement that are otherwise neglected.

Starting from bringing down excessive use of natural resources along with cutting down on impact on environment by controlling pollutions, the entities have looked at various measures broadly classifying them under environment, (emissions and waste management), water conservation, energy efficiency and switching to green energy from fossil fuels. This classification allows companies to draw a structure that culminates to tangible outcomes, which indirectly reflects on the capital expenses.

Various programmes

Many Indian cement companies over the last two decades have taken steps that are reaping results now. Sustainability programmes are not short term measures but long terms programmes. It is an ongoing process. Companies that have initiated the processes under the broader classification have further broke down it to actionable programmes like water neutrality, circular material, using efficient mining equipments, heat to recovery, setting up of renewable energy sources, and a clear road map for carbon negative targets.

It is a known fact that the cement industry is high on natural resources consumption -whether it is the raw material, water, energy. It is the third largest energy consumer. The sustainability programmes undertaken by the companies focused parallelly on all three. The first results were seen for the initiatives associated with water conservation and water positive programmes. The process includes water storage, waste water conversion and portable water supply. As a first step, some of the companies have converted their mining kits to store water. Some others have implemented no liquid discharge policy in the plant. This means that the water is recycled and used.

Companies like Ambuja Cement, Dalmia Cement and UltraTech Cement are already water positive. While the score of the companies varies from water positive 4 to 8, all of them have undertaken a mission to become water positive 20 to 30 in next 10 years.

At the same time, multiple energy efficiency programmes have been devised by cement manufacturers. Majority of them say that they are committed to the environment and that they focus on sustainable practices in the entire value chain of cement manufacturing. As per the studies, cement is the second largest carbon emitter and accounts for 6% of the global carbon emissions.

The climate change mitigation plans initiated globally have forced the cement companies to action measures that would bring down the carbon footprint. Clean, green and sustainable are three key areas that the cement companies are turning their focus to. The manufacturers have clearly carved a roadmap to become carbon neutral. Recalling here, globally, the set target for manufacturing companies to be carbon neutral is 2050. In CoP21, which is commonly referred as Paris Agreement or the Paris Climate Accord, it was agreed that all industry will implement measures to arrest the 2’C temperature rise.

Many of the companies have advanced their targets for 2040. Ashwani Pahuja, Chief Sustainability Officer and Executive Director, Dalmia Cement (Bharat) Limited, reveals that, in the last five years, the company has trimmed 17.6 million tonnes of carbon dioxide emissions from its operations.
He further elaborated, ??ur target is to become carbon negative by 2040. The first step is RE 100 by 2030 and fossil fuel replacement by 2035. Since the last decade, there are major initiatives on sustainability starting with material circularity, increased utilisation of industrial waste including fly-ash and and slag.

As per CDP (Carbon Disclosure Programme), Indian cement companies perform the best on climate-related metrics. If you further look, according to the recently published Science-Based Targets Initiative (SBTI), it has validated UltraTech Cement’s CO2 emissions reduction targets. The validation confirms that the company’s targets are in line with a 2’C temperature rise scenario under the Paris Agreement. The targets consist of a 27% reduction in Scope 1 CO2 emissions between 2017 and 2032 and a 69% reduction in Scope 2 CO2 emissions between 2017 and 2032. This corresponds to a 462kg/t net CO2 reduction for the produced cement.

Not just the manufacturers of cement but the equipment manufacturers are also jumping on the bandwagon. CASE India, a construction equipment company with a sizeable exposure in the mining segment has, in the recent past, adopted various sustainable and environment friendly technologies that helps to address CO2 emissions to a great level.

Sandeep Mathur, Brand Leader, CASE India, believes that the implementation of such sustainable technologies and equipment will take some time in India. However, the company is doing its bit and is investing in any change that protects the environment.

He said, The CE sector is moving towards sustainability and becoming more eco-conscious. The government is also coming up with norms like BSVI and is trying to deploy more environment-friendly vehicles and equipment on the road. At CASE, we value the environment and believe that each change contributes to the betterment of the world we inhabit. We have also been recognized as a Global Sustainability Leader for several years in a row.

Mathur further goes on to add that the company has introduced such sustainable, environment-friendly technologies globally. NH Industrial Project TETRA concept wheel loader is one such equipment. It is a sustainable, new Natural Gas (NG) Methane-Powered Wheel Loader. The concept ensures 15 percent less CO2 and 99 percent less particulate matter than its diesel-based counterpart. It is cheap and helps in reducing the carbon footprint of the company. CASE also launched the industry’s first Fully Electric Backhoe this year the 580EV, which has zero emissions and helps customers save as much as 90 percent in annual vehicle, fuel and maintenance costs,” he revealed.

All manufacturing companies have shifted their focus towards reducing their carbon footprints. Jagmohan Sood, Director and CEO, Jindal Stainless (Hissar) another stakeholder of cement value chain, highlighted the need to bring in efficiency in the whole process of manufacturing. And according to him, sustainability is not a short term result-giving programme.

He said, “The effect of sustainability programmes is visible in the medium to long term. The initiatives that are taken now will convert to a tangible result may in a couple of years. Our company we work with a three-year schedule. Some companies follow a 5-year schedule and it is work in progress.”

Technology is the biggest enabler when it comes to climate change mitigation. The most visible part is in the energy efficiency initiatives. Replacing existing lighting with more energy efficient ones, replacing motors and other machineries with more energy efficient ones, more automation, moving from fossil fuel to green energy / biofuel/ heat to energy mode etc is part of the initiative.

Sood added, in 2017-18, we started the campaign towards energy conservation, renewable energy purchase, sustainable utilisation of natural resources. The result in the last year was a saving of 264 million units of electricity, and 11.5 Giga kilocalories in thermal energy. If compared to the last consumption period, it is 6% savings for JSL. That translates to a saving of Rs 25.5 crore. This translated to 16000 tonnes of carbon emission reduction.

This was made possible, Sood said, mainly because of the technological advancement seen in the segment.

While all agree technology is required, it also calls for further capital investments. Indian carbon markets may take little more time to develop and mature. Sustainability, as a programme, is still at a nascent stage in the country.

Pahuja, further added, is a standalone, it is very difficult to switch over to carbon neutral technologies unless there are very attractive carbon markets. In the near future, these carbon markets are likely to become active. There are Green Climate Funds to the tune of $100 million every year to the developing nations for carbon-neutral technologies.

Cement companies are of the opinion that they are aware of the environmental issues and are taking all possible measures to address it. And sustainability is the first step towards it. They feel that this ongoing process would require further attention and annual allocation from the company at least for next 10 years to achieve the climate mitigation targets.

Tag: Carbon

Blog

Emissions reduction: Ambition Vz reality
Sonal Desai

India’s carbon emissions and growth:

The growth story:

The NDC impact:

Expert take:

News

Offset Measures, Implementation, Key to Tackle Climate Crisis
WriteCanvas News

Key takeaways:

Dr. Mansa Nagabhushanam, Chair DEI Assocham South Director, Centre of Excellence for Sustainability, and Director (Academics, research and administration), Ramaiah Institute of Management: Political leadership vital to equip policymakers to create effective action plans

Dr. Suma Krishnaswamy, Founder President, Cambium Biotechnologies: Synergy between self-help groups and NGOs needed to create a multi-stakeholder circular economy

Use Case: Bangalore International Airport Limited

L Sridhar, Head, ESG, Bangalore International Airport Limited (BIAL): Addressing climate change risks and implementing a business continuity plan is crucial

News

Global Carbon Pricing Revenues Top $100 Billion
WriteCanvas News

Key findings:

The India story:

Challenges:

Data:

The way forward:

Blog

Breathe Easier: Indian Steel Industry Makes Strides in Decarbonization
Renjini Liza Varghese

News

Tata Power, MCGM Partner for Solar-Powered Demand Flexibility Program
WriteCanvas News

COP28, Climate action

COP28: The Dilemma of Demand Vs Environment
Renjini Liza Varghese

Reforestation

Rockefeller Foundation injects $5M into Amazon Reforestation Fund
WriteCanvas News

ICAI, Sustainability

CAs must learn about Carbon, CSR, ESG practices: Nirmala Sitharaman
WriteCanvas News

News

An agenda for change: Achieving sustainability to improve efficiency
Renjini Liza Varghese

Blog

Emissions reduction: Ambition Vz reality Sonal Desai

India’s carbon emissions and growth:

The growth story:

The NDC impact:

Expert take:

News

Offset Measures, Implementation, Key to Tackle Climate Crisis WriteCanvas News

Key takeaways:

Dr. Mansa Nagabhushanam, Chair DEI Assocham South Director, Centre of Excellence for Sustainability, and Director (Academics, research and administration), Ramaiah Institute of Management: Political leadership vital to equip policymakers to create effective action plans

Dr. Suma Krishnaswamy, Founder President, Cambium Biotechnologies: Synergy between self-help groups and NGOs needed to create a multi-stakeholder circular economy

Use Case: Bangalore International Airport Limited

L Sridhar, Head, ESG, Bangalore International Airport Limited (BIAL): Addressing climate change risks and implementing a business continuity plan is crucial

News

Global Carbon Pricing Revenues Top $100 Billion WriteCanvas News

Key findings:

The India story:

Challenges:

Data:

The way forward:

Blog

Breathe Easier: Indian Steel Industry Makes Strides in Decarbonization Renjini Liza Varghese

News

Tata Power, MCGM Partner for Solar-Powered Demand Flexibility Program WriteCanvas News

COP28, Climate action

COP28: The Dilemma of Demand Vs Environment Renjini Liza Varghese

Reforestation

Rockefeller Foundation injects $5M into Amazon Reforestation Fund WriteCanvas News

ICAI, Sustainability

CAs must learn about Carbon, CSR, ESG practices: Nirmala Sitharaman WriteCanvas News

News

An agenda for change: Achieving sustainability to improve efficiency Renjini Liza Varghese

Emissions reduction: Ambition Vz reality
Sonal Desai

Offset Measures, Implementation, Key to Tackle Climate Crisis
WriteCanvas News

Global Carbon Pricing Revenues Top $100 Billion
WriteCanvas News

Breathe Easier: Indian Steel Industry Makes Strides in Decarbonization
Renjini Liza Varghese

Tata Power, MCGM Partner for Solar-Powered Demand Flexibility Program
WriteCanvas News

COP28: The Dilemma of Demand Vs Environment
Renjini Liza Varghese

Rockefeller Foundation injects $5M into Amazon Reforestation Fund
WriteCanvas News

CAs must learn about Carbon, CSR, ESG practices: Nirmala Sitharaman
WriteCanvas News

An agenda for change: Achieving sustainability to improve efficiency
Renjini Liza Varghese