LOW CARBON ECONOMY
World Bank lends $1.5 billion push to power green hydrogen market
India's energy transition supported by the World Bank includes green hydrogen promotion, renewable energy scaling, and grid code amendments for enhanced integration of battery energy storage solutions.
Counter-questions for the asking
India's growing population, coupled with higher disposable incomes and consumption, has already begun to devastate our carefully constructed cocoons without our realising it. Competitive manufacturing (leveraging economies of scale, procurement, branding and digitalisation) may be enticing more people to consume more (double effect), accelerating planet-stripping.
Now, here's an India plan
The path to a developed economy by 2047 needs to be sustainable and inclusive. Boosting rural consumption is an immediate requirement. But this can't come at the cost of a disconnected fiscal policy, which may create an untenable level of debt. Similarly, physical and digital infrastructure development needs to be addressed more consciously, keeping in mind broader societal needs and environmental challenges.
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
Singapore-based Sembcorp to supply green ammonia to Japan from its India plant
Singapore-based Sembcorp Green Hydrogen Pte Ltd signed an agreement with two Japanese firms to supply green ammonia from its 200,000-metric tonne capacity plant in India.
China plans new carbon measurement standards to boost climate efforts
China announced plans to implement a new carbon footprint management system by 2027 to measure the carbon content of key products, aiming to meet climate goals and global carbon standards.
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India, US, 12 others likely to ink pact today to meet climate financing goal
India, the US, and a dozen other nations are poised to sign a Clean Economy Agreement under the Indo-Pacific Economic Framework, aimed at meeting climate objectives through collaborative financing. The agreement, to be signed at a Singapore meet, focuses on improving market conditions and reducing barriers for low-carbon projects. While the pact is in its final stages of approval, experts caution against allowing imports of genetically modified seeds and foods under the guise of food security.
Climate tech has a promising future in India: Hisham Mundol, Chief Advisor, Environmental Defense Fund, India
Environmental Defense Fund (EDF) wants India to become the first major economy to industrialise without carbonising, says Hisham Mundol, Chief Advisor, Environmental Defense Fund, India.
What is 'Net Zero', anyway? A short history of a monumental concept
The G7 leaders recently committed to achieving net zero emissions by 2050, with the Albanese government in Australia introducing legislation to create a Net Zero Economy Authority to drive investment in clean energy. The concept of net zero, aiming to balance carbon emissions with carbon sinks, emerged from early climate negotiations in the 1990s. It gained traction in the late 2000s as a metric for assessing mitigation efforts and became a key goal of the 2015 Paris Agreement. However, challenges remain in ensuring fairness and equity between developed and developing nations, and in avoiding greenwashing by corporations.
'Have delivered on 2019 promise of putting corrupt behind bars, our govt leveraged technology to tackle corruption': PM Modi
Prime Minister Narendra Modi, currently vying for a third consecutive term, reaffirms his 2019 pledge to incarcerate corrupt individuals, asserting that he has fulfilled this promise. In an extensive discussion with ET, PM Modi addressed various topics. He reiterates the government's dedication to ensuring that the benefits of progress extend to all individuals in need, irrespective of their caste, creed, or geographical location.
‘We are witnessing the return of industrial policy now — unlike the past, this is shaped by a globalised world, climate change and AI’
"Right now, in the post-global financial crisis era, and particularly post-Covid, we are seeing the return of industrial policy but it’s taking a different form from the past — it is far more financialised now, it tries to work within the parameters and institutions of a globalised world and it is much more outward-oriented."
Greenko Zero C to supply 500,000 tonnes of green ammonia to Norway's Yara Clean Ammonia
Deliveries to start from Kakinada from Q4 of CY26, Industry sources say contract size expected to be $1.5-$1.8 bn over 10 years. 5GW of renewable power and pump storage in Andhra Pradesh to back production
Coal, the dirtiest fossil fuel, is preparing for a long goodbye in India and China
Thanks to a combination of China’s energy insecurity — pushing Beijing back to trusted power sources — plus rising Indian demand, the continued fallout from the war in Ukraine and faltering international programs to wean developing economies off fossil fuels, coal is proving remarkably resilient. Output hit a record last year, and producers are preparing for a future where they will be required for decades yet to balance renewable energy.
ET GBS 2024: Choking! Carbon clubs spell hazy future for developing countries, says former WTO DG Azevedo
Robert Johnson from the Institute for New Economic Thinking (INET) emphasizes the need for nations to think globally and protect all humans affected by carbon burning. He suggests that low-wage labor may not be the solution for development and discusses the anxiety in Europe regarding migration from Africa and the Middle East.
Make public transport cool, even for car people
Finance Minister, Nirmala Sitharaman, has indicated a heightened emphasis on deploying electric buses in the country's public transport system as part of the third iteration of the subsidy scheme, Faster Adoption and Manufacturing of Electric Vehicles (FAME III). This move aligns with India's commitment to transition towards a net-zero economy by 2070. The deployment of electric buses is considered a crucial element in the broader strategy for low-carbon mobility, aiming to reduce emissions, enhance energy efficiency, and promote sustainable lifestyles.
Need right balance between development & carbon emissions
The review of the economy emphasizes the importance of balancing development and carbon emissions mitigation globally. It acknowledges that many nations prioritize access to energy as an immediate concern. India's energy transition policies strike a blend of near-term pragmatism and long-term goals to reduce fossil fuel dependence.
No-frills flying emerges as air travel’s painful, greener future
With global air travel almost completely recovered from the pandemic, cutting emissions is once again the industry’s No. 1 challenge.
EVs development, adoption to play major role in India's transition to low carbon economy: DPIIT Secy
The Indian government has outlined its vision to make the country a developed nation by 2047, with a major focus on the shift towards electric vehicles (EVs). The plan includes tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure to support the adoption of EVs. The government aims to decarbonize the freight transport sector by shifting modal share from road to rail. The vision was discussed by Secretary Rajesh Kumar Singh during a session at the World Economic Forum (WEF) in Davos.
Majority of businesses committed to achieving net-zero emission target: PwC survey
The report is based on a market survey of nearly 250 tax heads, sustainability/ESG leaders, CFOs and CXOs of Indian businesses, spanning industries such as financial services, technology, media, and telecom (TMT), retail and consumer, engineering and construction, among others.
Majority of businesses committed to achieving net-zero emission target: PwC survey
Approximately 50% of Indian businesses surveyed are committed to achieving the net-zero target, reflecting their desire to address climate change and transition to a low-carbon economy, according to a PwC report. Around 48% of these businesses aim to achieve net-zero emissions by 2030. The report is based on a survey of nearly 250 tax heads, sustainability/ESG leaders, CFOs, and CXOs across various industries. It also highlights the importance of incentivizing Environmental, Social, and Governance (ESG) interventions by the government and the need for transparent tax practices.
Don't let bad climate rain on the economy
India in 2023 saw many natural calamities with the last one in Tamil Nadu in December. Observing the weather conditions, the shift towards low-carbon development pathways is critical. India is poised to invest $143 trillion in infrastructure from FY2024 to FY2030, presenting a golden opportunity to foster sustainable development.
Net zero goal calls for $5 trillion in annual green investments: IMF
"Eight years on from the Paris Agreement, policies remain insufficient to stabilise temperatures and avoid the worst effects of climate change. Collectively, we are not cutting emissions fast enough and are falling short on the needed investment, financing, and technology," the IMF blog noted.
View: GoI must set up an empowered authority reporting to PMO to oversee India’s energy transition
Industry needs a policy glide path, which GoI alone can lay out. While policy support is robust in certain sectors, The absence of a holistic approach leaves vital questions hanging: what recourse exists if competitiveness suffers? Life cycle costs of new assets are not recovered? What if corporate profits are dented?
Public support for low carbon projects is based on trust in companies developing these — and the regulatory enforcement regime: David Reiner
Most people learn subjects like chemistry, physics and math in school. Even among those who study science or engineering at an undergraduate level, few take on geological sciences. This has become a blind spot, even among people considered fairly technically proficient, said David Reiner, who is professor of technology policy at Cambridge University’s Judge Business School.
Policy in works to scale up bamboo cultivation
The policy, expected by the end of this year, is expected to lay down of BIS standards for bamboo, food and safety standards certification for bamboo products and geographical indications (GI) tagging to enhance exports opportunities for bamboo.
India among five major global economies in race to reach net-zero
India's position in the race to achieve net-zero emissions may not be comparable to economies like the US, EU, China, and Japan, but it is making progress in incorporating renewable energy sources and meeting its climate targets. The country is also expected to see significant growth in the electric vehicle industry, creating millions of jobs. India has been a top recipient of international public financial flows for renewable energy projects. As India aims to become part of the global net-zero supply chain, it has the potential to benefit from the transition in the near future.
G20 energy meet short of energy
The ministerial on energy transition in Goa last week set a direction, but yielded less than what was sought for. There was no consensus on an agreement with targets or clear markers for sustainable low-carbon energy systems.
World Bank approves $1.5 billion financing for India's low carbon energy sector
The World Bank has approved $1.5 billion in financing to accelerate India's low carbon energy sector. The funds will be used to promote renewable energy, green hydrogen development, and climate finance for low-carbon energy investments. The program aims to support India's National Green Hydrogen Mission, which aims to attract $100 billion in private sector investment by 2030.
A four-point guide for Modi government to make India a carbon-smart economy
The stated intent is to prevent carbon leakage into the EU and encourage countries to make climate-smart transitions. The concerns of India and many others regarding the discriminatory nature of policies like CBAM can't be dismissed. But realism also demands adjusting to market realities, and, indeed, leveraging the situation.
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