Page 7 - Carbon Emissions

Carbon market push at COP28 summit tries to fix scandal-tainted credits

The concept of trading carbon credits across borders to accelerate the green transition is not new, nor are challenges to its transparency and impact

Jindal Stainless aims to cut emissions by 50% 'way ahead' of 2035 target

India's largest stainless steel company will invest Rs 700 cr in projects to cut emissions

Global warming threshold could be hit temporarily in 2024: UK's Met Office

The average global temperature for 2024 is forecast to be between 1.34C and 1.58C above the average for the pre-industrial period of 1850-1900, it said

COP28: UN says 63 countries have backed pledge to curb cooling emission

The Global Cooling Pledge marks the world's first collective focus on climate-warming emissions from cooling, which includes refrigeration for food and medicine and air conditioning

Carbon emissions in India to increase by 8.2%, 4% in China in 2023: Study

Carbon emissions in India are projected to increase in India by 8.2 per cent in 2023, and by 4 per cent in China, according to an international research. Global emissions from coal, oil and gas are all projected to increase by 1.1, 1.5 and 0.5 per cent, respectively, even as they are predicted to decline in the EU and the USA by 7.4 and 3 per cent, respectively, the research team that included the University of Exeter, UK, and 90 other institutions globally said in its report. The Global Carbon Budget report, produced by more than 120 scientists, provides an annual, peer-reviewed update, building on established methodologies, the researchers said. The report projects total global carbon dioxide (CO2) emissions, arising out of both fossil fuels and land-use change, to be 40.9 billion tonnes in 2023. Of these, 36.8 billion tonnes would be from fossil fuels, up 1.1 per cent from 2022. Atmospheric CO2 levels are projected to average 419.3 parts per million in 2023, more than 50 per cen

Gore blasts COP28 climate chief and oil cos' emissions pledges at UN summit

Don't trust the oil and gas industry to report their actual carbon pollution, said former US Vice President Al Gore, who added that the man leading the United Nations climate talks runs one of the dirtiest oil companies out there. They're much better at capturing politicians than they are at capturing emissions, Gore told The Associated Press in a sit-down interview. The Nobel Prize-winning climate activist, author and filmmaker blasted Sultan al-Jaber, the president of the United Nations climate talks, who is also president of the national oil company of the host nation, United Arab Emirates. Gore said al-Jaber's Abu Dhabi National Oil Co. is one of the largest and one of the dirtiest, by many measures, oil companies in the world. Gore can make these claims because he just released a massive update of the Climate TRACE database of emissions that he helped create. It tracks carbon pollution from every nation and city across the globe with 352 million pieces of information. Looking

Global carbon emissions from fossil fuels to rise 1.1% to hit peak in 2023

The planet is on track to exceed its carbon budget for 1.5C of warming around 2030, and the budget for 1.7C in 15 years, according to the group's Global Carbon Budget annual report

World Bank Chief Banga hails COP28 momentum as climate pledges mount

World leaders spent the first three days at the climate conference unveiling a string of announcements from cutting methane emissions to ramping up the flow of money to poorer countries

Global regulators seek tougher scrutiny of voluntary carbon markets: Report

IOSCO last year raised the prospect of closer scrutiny of carbon markets when it said it was concerned the quality and double counting of credits left the sector open to fraud

India needs to flag misconception that trade add to carbon emissions: GTRI

This is a complete misconception that exports and imports contribute significantly to global carbon emissions and India needs to flag this issue in the discussions on global trade and climate change in Dubai, think tank GTRI said on Sunday. On December 4, United Nations climate change conference COP28 in Dubai is dedicating a day to explore the relationship between global trade and climate change. The World Trade Organization (WTO) is the co-lead of the Trade Day event. The primary goal is to nudge governments worldwide to integrate climate-friendly measures into their national trade policies, the Global Trade Research Initiative (GTRI) said in its report. Other potential topics of discussions include green trade policies, the role of renewable energy in trade, and carbon pricing strategies, it added. "India must highlight the misconception that trade significantly contributes to global emissions. It must be corrected as trade-related activities account for only about 3 per cent of

GDP emission intensity reduced by 33% between 2005 and 2019: Govt report

India reduced its GDP emission intensity by 33 per cent between 2005 and 2019, achieving the target 11 years in advance, according to a government report. The report also said India's GDP grew at a cumulative annual growth rate of 7 per cent but its emissions rose by only 4 per cent per year during this period, suggesting that the country has been successful in decoupling its economic growth from planet-warming greenhouse gas emissions. The report called 'The Third National Communication to the United Nations Framework Convention on Climate Change' will be submitted to the UN climate change body during the ongoing climate talks in Dubai, officials said. National communications contain information on a country's greenhouse gas emissions, its vulnerability to climate change, and the measures any country is taking to mitigate emissions and adapt to the impacts of climate change. Environment Minister Bhupender Yadav said that India reduced its GDP emission intensity by 33 per cent betw

Rich nations should reduce their carbon footprint 'well before' 2050: PM

Rich nations should completely reduce their carbon footprint "well before" 2050, Prime Minister Narendra Modi said on Friday while calling on the world to deliver a concrete outcome on finance to help developing and poor nations combat climate change. Addressing a session on 'Transforming Climate Finance' at COP28 here, Modi said India expects concrete and real progress on the New Collective Quantified Goal (NCQG), a fresh post-2025 global climate finance goal. "Developed countries should completely reduce their carbon footprint well before 2050," he said. Rich nations pledged in 2009 to raise USD 100 billion annually by 2020 to assist developing countries in combating and adjusting to climate change. Despite extensions to 2025, these nations have not met this commitment. COP28 aims to establish the groundwork for a fresh post-2025 global climate finance goal, succeeding the USD 100 billion target. Countries aim to finalize this new goal by COP29 in 2024. Modi said that there shou

Carbon capture, storage tech is crucial to curb emissions: CCS Institute

The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change

Here's how artificial intelligence can help clean up biggest climate messes

The industrial sector is responsible for about a third of global carbon emissions, but machine learning models can potentially help lower its climate toll

$13.5 trn needed to fast-track decarbonisation of key sectors: WEF

Transitioning to a more sustainable and carbon-neutral future will require USD 13.5 trillion in investments by 2050, particularly in the production, energy and transport sectors, a new World Economic Forum report said on Tuesday. The report noted that major producing countries and regions such as India, China, the US, and EU have now committed to net-zero targets, making it imperative for businesses within their jurisdictions to align their operations and strategies with the evolving regulatory landscape. However, complex and ever-changing policy regimes result in businesses allocating substantial resources towards compliance, impeding progress, and therefore establishing more consistent and stable regulatory frameworks with well-defined timelines is imperative for mitigating these risks, it said. Taking stock of progress towards net-zero emissions for eight industries that emit 40 per cent of global greenhouse gas, the World Economic Forum Net-Zero Industry Tracker 2023 report said

Statsguru: 6 charts show the clock is ticking on achieving climate goals

As the world races against the climate clock, COP28 has its task cut out

Grundfos rolls out iTruck Drive campaign under net zero horizon mission

Global pumps major Grundfos has unveiled the Grundfos iTruck Drive campaign under its mission to achieve net zero horizon by 2050, the company said on Wednesday. A roadshow part of the campaign has covered more than 25 cities engaging with over 2,000 audiences, providing them first-hand experience of the sustainable pump solutions adopted by the Denmark-headquartered firm. "By bringing the showcase directly to your doorstep (through the campaign), Grundfos envisions a significant reduction of 33,500 kg in potential carbon emissions and a threefold increase in target audience compared to conventional events," a press release said. The iTruck Drive initiative is expected to cover an additional 25 cities covering Gujarat, Maharashtra and Karnataka by the end of January 2024. "With the Grundfos iTruck Drive campaign, we embark on an unparalleled journey, fusing sustainability and innovation into a mobile showcase of cutting-edge solutions..the iTruck introduces a range of intelligent a

COP28 holds key to global carbon market that could help improve offsets

UN-sponsored program aims to ensure high quality credits within internationally framework, offering investors greater certainty amid concerns that some existing voluntary projects do little

China on track to bring its carbon emissions to peak before 2030: Poll

Doubts have been cast on China's ability to meet its 2030 pledge, as authorities continue to approve dozens of new coal-fired power stations to meet rising energy demand

World racing to well past warming limit as carbon emissions rise: UN report

The globe is speeding to 2.5 to 2.9 degrees Celsius (4.5 to 5.2 degrees Fahrenheit) of global warming since pre-industrial times, set to blow well past the agreed-upon international climate threshold, a United Nations report calculated. To have an even money shot at keeping warming to the 1.5-degree Celsius (2.7 degrees Fahrenheit) limit adopted by the 2015 Paris climate agreement, countries have to slash their emissions by 42% by the end of the decade, said the UN Environment Programme's Emissions Gap report issued Monday. Carbon emissions from the burning of coal, oil and gas rose 1.2% last year, the report said. This year Earth got a taste of what's to come, said the report, which sets the table for international climate talks later this month. Through the end of September, the daily global average temperature exceeded 1.5 degrees Celsius above mid-19th century levels on 86 days this year, the report said. But that increased to 127 days because nearly all of the first two weeks o