Tag: carbon emissions

The Paradox That’s Supercharging Climate Change
Technology

The Paradox That’s Supercharging Climate Change

No good deed goes unpunished—and that includes trying to slow climate change. By cutting greenhouse gas emissions, humanity will spew out fewer planet-cooling aerosols—small particles of pollution that act like tiny umbrellas to bounce some of the sun’s energy back into space.“Even more important than this direct reflection effect, they alter the properties of clouds,” says Øivind Hodnebrog, a climate researcher at the Center for International Climate Research in Oslo, Norway. “In essence, they make the clouds brighter, and the clouds reflect sunlight back into space.”So as governments better regulate air quality and deploy renewable energy and electric vehicles, we’ll get less warming thanks to fewer insulating emissions going into the sky, but some additional warming because we’ve lost ...
Advocates equity, seeks stronger role from developed nations
Business

Advocates equity, seeks stronger role from developed nations

Stressing India’s firm conviction in anchoring climate action on principles of equity and climate justice, Environment Minister Bhupender Yadav emphasised at the 28th meeting of the Conference of the Parties (COP28) that these vital foundations can only be secured when developed countries assume a leading role in combating climate change. “India firmly believes that equity and climate justice must be the basis of global climate action. This can be ensured only when the developed countries take the lead in ambitious climate action,” Yadav said while delivering the country’s national statement in Dubai. While highlighting India’s contribution, Yadav said that New Delhi reduced its GDP emission intensity by 33 per cent between 2005 and 2019, achieving the target 11 years...
Aiming ‘net zero carbon emissions by 2029’ for Mumbai Airport: Gautam Adani
Business

Aiming ‘net zero carbon emissions by 2029’ for Mumbai Airport: Gautam Adani

NEW DELHI: India's second busiest airport -- Mumbai's CSMIA -- plans to reach "net zero carbon emissions" before the end of this decade. Adani Group chairman Gautam Adani on Saturday said on social media: "We proudly operate (CSMIA) on 100% green energy, making us an entirely sustainable airport. Moreover, we are third in Asia Pacific to reach Level 4+ 'Transition' of ACA Program of ACI, aligning our CO2 management with global climate objectives.Our next goal? Net ZeroCarbon Emissions by 2029!"Mumbai has among the busiest single runway airport as only of its set of cross runways can be used at a time. The billionaire businessman added on X (former Twitter): "Adani's Mumbai Airport is redefining excellence in aviation! It's now the best in Asia Pacific for Services according to ASQ, in the...
Germany Gets Honest About What Net Zero Will Cost
Health

Germany Gets Honest About What Net Zero Will Cost

If you had “net zero causing Germany’s government to collapse” on your 2023 bingo card, congratulations—you may end up a winner. Chancellor Olaf Scholz’s administration is falling apart because it turns out someone will have to pay for decarbonizing the eurozone’s largest economy.This shocking and horrifying revelation is brought to you by Germany’s highest constitutional court, which ruled in mid-November that Berlin’s favorite budget gimmick violates the balanced-budget amendment. The amendment, known as the debt brake, limits the federal general-budget deficit to 0.35% of gross domestic product in any year unless Parliament declares an emergency.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
‘Net Zero’ Fails the Cost-Benefit Test
Business

‘Net Zero’ Fails the Cost-Benefit Test

Nov. 29, 2023 12:52 pm ETWorld leaders are gathering in Dubai for another climate conference, which will no doubt yield heady promises along the lines of the 2015 Paris climate agreement to keep the global temperature’s rise “well below” 2 degrees Celsius and pursue efforts to limit it to 1.5 degrees. But they’d be wiser not to. New research shows how extravagant climate promises are far more wasteful than useful.A new special issue of the journal Climate Change Economics contains two ground-breaking economic analyses of policies to hold global temperatures to 1.5 degrees and its practical political interpretation, mandates to reach net zero, usually by 2050. Though more than 130 countries, including most of the globe’s big emitters, have passed or are considering laws mandating net-zero ...
It’s Time to Get Serious About Carbon Removal
Technology

It’s Time to Get Serious About Carbon Removal

If only 5 percent of offsets actually remove carbon, how do we scale up that side of the market?The main challenge is that carbon removal is still at a very early stage and expensive. The average removal offset is, let’s say, $200 a ton. Whereas the average emissions-avoidance offset is about $5 dollars a ton.So we have an urgent scaling and pricing challenge with carbon removal. But there’s a lack of supply because there isn’t guaranteed demand, and there isn’t guaranteed demand because the pricing and the supply are uncertain. So we really need buyers to commit today, to help the supply side build capacity. As they do, the cost curve comes down, and more industries will come into play. If we don’t have buyers today, then we won’t have that gigatons of scale capacity in 2050.What we’re t...
Britain to pump $621 million into Tata Steel to decarbonise Welsh plant
Business

Britain to pump $621 million into Tata Steel to decarbonise Welsh plant

Britain is to pump 500 million pounds ($621 million) into Tata Steel to decarbonise its Welsh site, in a deal aimed at securing the future of the country's steel industry but which puts as many as 3,000 jobs at risk. The 1.25 billion pound total funding package for Britain's biggest steel works includes 750 million pounds from Tata to pay for the switch to producing steel from lower-emission electric arc furnaces from coal-powered methods. Britain's government said in a statement its grant, described as one of the largest government support packages in history, would help safeguard 5,000 jobs. Tata Steel currently employs more than 8,000 people, raising the prospect that there will be as many as 3,000 redundancies as the lower-carbon electric furnaces are less ...
IOC unveils Rs 4 lakh crore expansion, transition roadmap
Business

IOC unveils Rs 4 lakh crore expansion, transition roadmap

NEW DELHI: IndianOil on Friday laid out a Rs 4 lakh-crore roadmap for becoming a ‘360-degree’ energy company by pushing energy transition projects along with expansion of refining and petrochemicals capacities.“As India's energy custodians, your company has crafted a clear roadmap to drive India's energy destiny. To fuel the rising energy demand of an ascendant India, we are committed to increasing our share in India's energy pie from the current 9% to around 12.5% by 2050,” chairman Shrikant Madhav Vaidya told shareholders at the AGM.The company will spend Rs 1 lakh crore on expanding refining capacity and Rs 2.4 lakh crore on projects for achieving net-zero carbon emissions from its operations. Another Rs 60,000 crore to be spent on building a petrochemical complex at Paradip in Odisha....