COP28 action agenda aims to cut 22 gigatons of emissions

Sultan Al Jaber, president of the 28th Climate Change Conference (COP28), said the first pillar of this year’s COP action agenda, aims to eliminate 22 gigatons of greenhouse gas emissions in the coming 7 years to meet the 1.5 degrees Celsius warming target. In a speech at the UN Climate Ambition Summit in New York,

It is tough to implement carbon market

An ambition to develop carbon market—the government recently announced a National Steering Committee—is a welcome development. It reflects political and economic maturity to use competition as the preferred option to achieve the desired policy objectives. It is particularly interesting because the tradeable commodity i.e., carbon emission reduction, is a notional construct. It was devised to

Tata Motors aims to achieve netzero emissions by 2045

Tata Motors has pledged to transform its facilities into net-zero greenhouse gas emissions sites by 2045, and it is actively pursuing various technologies, such as electric and hydrogen fuel, to accomplish this goal, as stated by Executive Director Girish Wagh. The organization, valued at $37 billion and holding a prominent position in the commercial vehicle

‘Worthless’ forest carbon offsets risk worsening climate change

More than 90% of rainforest carbon offsets are worthless. These credits are essentially a promise to protect forests and can be bought as a way to “offset” emissions elsewhere. But experts say the claims were “absolutely incorrect”. It shows unequivocally that many projects which have sold what are known as REDD+ (reducing emissions from deforestation

India needs to invest $13 tn to reach net zero by 2050

India currently produces about 70% of its electricity from coal, and the same fossil fuel underpins a range of heavy industries, such as steel, and cement. India will need to invest $12.7 trillion in its energy system, or more than three times its gross domestic product, to reach net zero emissions by mid-century and help

Shippers now preferring green methanol to cut emissions

Container shippers are ordering vessels powered by methanol to reduce greenhouse gas emissions, but it will take years for renewable methanol output to meet demand and for costs to fall. The first green methanol-fuelled container ship, owned by A.P. Moller-Maersk, sailed from South Korea in July. The number of such vessels is expected to exceed

Tufton’s company installs Anemoi Rotor Sails to save 10% of fuel & emissions

Installation of Rotor Sails on TR Lady, an 82 000 DWT Kamsarmax bulk carrier, was completed in Chengxi Shipyard, China, in June 2023. TR Lady is owned by TR Lady Shipping Ltd, a portfolio company of Tufton Investment Management Ltd and is on a time charter with Cargill. The vessel was retrofitted with three 5

Norden to slash coal supply chain emissions

Danish owner and operator Norden and Canadian mining company Teck Resources have signed an agreement to reduce CO2 emissions in Teck’s steelmaking coal supply chain. The agreement is expected to reduce annual emissions from Teck shipments handled by Norden by 25%, or up to 6,700 tonnes of CO2. Norden said it would achieve the emission

Neste develops marine fuel to lower emissions

A Finnish company has launched the “Marine 0.1 Co-Processed” which is a marine fuel – a substitute for the conventional fuel used in the shipping industry. According to Neste, the company, the new alternate fuel reduces GHG (GreenHouse Gas) by 80% throughout its lifecycle compared to the standard fuel used. Marine 0.1 Co-Processed was initially

Wärtsilä delivers reductions in emissions to two MR tankers

The vessels, Elandra Sea and Elandra Star, owned by global energy company Vitol, and managed by Latvian operator LSC Group, had tailored Wärtsilä EnergoFlow and EnergoProFin systems installed during summer 2022.