IOC to invest $25 billion to realize net-zero goals set for 2046

Indian Oil Corp, the country’s top refiner, plans to invest more than $25 billion to achieve net-zero emissions from its operations by 2046, its chairman S. M. Vaidya said at an annual shareholders meeting. India, one of the world’s biggest greenhouse gas emitters, is aiming to reach net-zero emissions for the country by 2070. On

$369bn allocated for clean-energy programs in the US

The Inflation Reduction Act passed by the US Senate includes $369bn in investments to advance America’s clean-energy programs, including offshore wind development and projects to reduce emissions at the country’s maritime ports. Three billion dollars have been earmarked over a five-year period for port electrification. The funds cannot be used to automate container terminals. The

Telefónica obtains SBTi validation

Telefónica is the first telecommunications operator in the world to obtain the validation of the Science Based Targets Initiative (SBTi). The company confirms that its decarbonization route is in line with science. Telefónica is committed to achieving net zero greenhouse gas (GHG) emissions across the entire value chain by 2040, which represents an effective reduction

SGS launches FastRig wing sail technology for shipping

Smart Green Shipping (SGS) has launched a £5m research and development project for its FastRig wing sail technology and digital routing software.  The technology will harness the power of wind to deliver fuel and emissions savings for the shipping industry. The collaborative programme has been made possible by a £3.2m investment from the private sector,

Canada frames rules for netzero emissions by 2035

The Canadian government published its proposed Frame for the Clean Electricity Regulations (CER). The CER rule making process is intended to arrive at a clear basis for provinces and territories to plan and operate their electricity grids, while also delivering reliable and affordable electricity to Canadians. The regulations are being developed around three core principles

NITI Aayog to develop a roadmap for netzero emissions of NTPC

NITI Aayog, NTPC to collaborate on developing NTPC’s Net Zero GHG Emission Roadmap. Both of them have signed an agreement I this regard in alignment to GoI’s ‘Panchamrit’ goals. The agreement seeks to formalize a framework of cooperation between the parties to facilitate. NTPC to strategize on diversification of its generation mix to eventually reduce

JSW Steel to work with BCG on decarbonization

JSW Steel has announced to collaborate with Boston Consulting Group (BCG) for its decarbonisation and sustainability agenda. JSW Steel has committed to combat climate change challenge by incorporating sustainability in its business operations. The partnership is a step in that direction. As part of this, BCG will leverage its proprietary CO2 AI platform along with

Canada announces CFR to achieve netzero emissions

Canadian Environment and Climate Change Minister, Steven Guilbeault has announced the final Clean Fuel Regulations (CFR) that focus on emissions throughout the lifecycle of fuels. CFR helps to secure a foundation for more growth in the industries that will help Canada achieve net-zero emissions while continuing Canada’s role as a global supplier of energy. The

Countries in Europe agree on 2035 fossil fuel car ban

European Union countries have agreed to phase-out new fossil fuel car sales from 2035. The deal makes it likely that the proposal will become EU law. The ministers’ agreements will form their position in upcoming negotiations with the EU Parliament on the final laws. Parliament has already backed the 2035 car target. After more than

Prologis targets to achieve net zero emissions in supply chain by 2040

Prologis, a Real estate logistics provider, has committed to reaching net-zero emissions by 2040 across its entire supply chain.   The company submitted its net-zero emissions target to the Science Based Target initiative (SBTi) for validation. It targets to Reach net-zero emissions from operations (scope 1 and 2) by 2030 and Achieve 100% carbon neutral