Don’t miss the latest developments in business and finance.

image

Net-Zero

About Net-Zero

Facebook IconLinkedIN Icon

What is Net-Zero

Net-zero, which also refers to carbon-neutrality, means a balance between the amount of earth-warming greenhouse gas (GHGs) emissions (carbon dioxide, nitrous oxide, methane, etc) produced and the amount eliminated from the atmosphere to tackle climate change.
 
The definition of 'net zero' means that emissions are balanced by efforts to offset them, these include planting trees, changing industrial processes, restoring forests or using nature-friendly technology to store and capture carbon emitted from burning oil and coal.
 
Net-zero carbon emissions mean balancing the emissions needed for development with mitigation and conservation measures, including carbon absorption or reduced use.
 
Several nations including the United States, India, South Korea, China and members of the European Union have announced plans to achieve net-zero emissions, meaning they will only release as much carbon dioxide (CO2) and other gases as can be absorbed by natural or technological means.
 
What does it mean to reach net-zero emissions?
 
The Intergovernmental Panel on Climate Change (IPCC) Report on 1.5 degree Celsius (2.7 degrees Fahrenheit) mentions that the 2 degree Celsius (3.6 degrees Fahrenheit) threshold referred to in the 2015 Paris Agreement is more dangerous than previously thought and that unprecedented economic transformations are needed in the next decade to keep warming under the 1.5 degree Celsius target.
 
To achieve net-zero emissions, all human-caused GHG emissions are counter-balanced by removing GHGs from the atmosphere in a process called 'carbon removal'. Net-zero will ensure that global warming is limited to 1.5 degrees Celsius above pre-industrial age levels. For limiting global warming to below 2 degrees Celsius, CO2 emissions need to decrease by about 25 per cent from the 2010 level by 2030 and reach net zero around 2070.
 
Natural gas is a less-polluting fossil fuel that some industries could adopt as a temporary option towards the net-zero target. It tries to lower emissions by setting a price for carbon. Countries that exceed their emissions "cap" can buy the non-used portions allocated to low-emitting nations.
 
India's commitment
 
In November 2021, Prime Minister Narendra Modi announced at the Glasgow COP26 summit that India would reach the target of net zero by 2070.
 
At COP26, PM Modi also raised the Nationally Determined Contribution (NDC) of achieving 450-gigawatt non-fossil energy capacity to 500 gigawatts, among other commitments including reducing carbon emissions. The Prime Minister reiterated that the country will fulfill 50 per cent of its energy requirements from renewable energy sources by 2030.
 
India, the world's third-biggest emitter, is ramping up the use of natural gas, biofuels, ethanol mixing with gasoline, and use of green hydrogen among others to cut its carbon footprint.
 

Latest Updates on Net-Zero

Companies says first such electric platform in country will help port industry in zero emission

Updated On: 15 Jun 2023 | 3:24 PM IST

Small modular reactors are being seen as a cheaper and relatively safer way forward

Updated On: 17 May 2023 | 8:26 PM IST

A more than seven-decade-old technology is coming in the limelight on the journey to net zero

Updated On: 03 Apr 2023 | 9:16 PM IST

The Report notes that finance flows from developed to developing countries fall short of the levels needed to meet climate goals across all sectors and regions

Updated On: 20 Mar 2023 | 11:46 PM IST

Western reluctance to spend on climate action and India's inability to accelerate renewables to power faster economic growth are major hurdles to the net zero target

Updated On: 25 Feb 2023 | 12:16 AM IST

Carbon capture utilisation technology can play a crucial role in reducing CO2 emissions, provided the government shapes a workable regulatory framework first

Updated On: 20 Feb 2023 | 10:40 PM IST

Green growth is the overarching theme across the world and India is no exception, but the trend towards deglobalisation is throwing a spanner in the works

Updated On: 09 Feb 2023 | 10:02 PM IST

Most departments will switch over to EVs by next year in the first phase, says CM Sukhu

Updated On: 06 Feb 2023 | 9:58 PM IST

While the Survey documented India's position with respect to carbon emissions, it was silent on a domestic problem caused in part by coal burning: air pollution

Updated On: 31 Jan 2023 | 10:08 PM IST

There are good reasons for governments to utilize novel CDR methods at the same time as expanding established land-based carbon capture and storage

Updated On: 27 Jan 2023 | 9:34 PM IST

Most current greenhouse gas removal is achieved by planting trees and managing forests and other natural carbon sinks, which themselves are under considerable threat

Updated On: 19 Jan 2023 | 6:20 PM IST

Companies in India are already investing $65 billion-$100 billion to cut carbon emission from existing and new capacities

Updated On: 09 Jan 2023 | 11:56 PM IST

The investment buzz for the transition has begun but policy frameworks still lag the process

Updated On: 28 Dec 2022 | 10:44 PM IST

ESG focus is fairly advanced in developed realty markets and will soon become widespread in India, say industry players; the sector aims to achieve 80-90% green certifications in 4-5 years

Updated On: 14 Oct 2022 | 6:08 PM IST

GREEN DEAL: Air India, AirAsia India, Vistara ink MoU with CSIR-IIP for sustainable aviation fuel

Updated On: 22 Sep 2022 | 5:47 PM IST

The minister said the world must recognise that development and environment conservation need to be aligned, rather than treated exclusive of each other

Updated On: 01 Sep 2022 | 12:57 AM IST

India's shift to electric vehicles is also much slower than other major markets like China and the US even though PM has committed to making India a net-zero carbon-emitting nation by 2070

Updated On: 27 Jun 2022 | 8:52 AM IST

Decarbonisation is now seen as an urgent necessity

Updated On: 01 Jun 2022 | 6:10 AM IST

Intel is also committed to addressing climate impacts throughout its upstream and downstream value chain, also known as Scope 3 emissions

Updated On: 14 Apr 2022 | 8:12 AM IST

The global journey to net-zero will help the world in its efforts to stave off the worst of climate change

Updated On: 05 Apr 2022 | 10:09 PM IST