ONGC plans $24.2 bn investment to meet net zero emissions

ONGC is the largest oil and gas producer in India and is now swiftly scaling up its renewable capacity and aims to invest in multiple low-carbon projects. ONGC has 189 megawatts of electricity. The company is building a 5 GW solar energy project in Rajasthan and has laid down plans to set up offshore wind

India needs to invest 5% of GDP to meet net zero emissions

India will need to invest 5% of its GDP annually to meet net-zero emissions by 2050. With the unavoidable El Niño phenomenon having drained August of monsoonal rains, we just had a bite-sized look into what remains in store for us vis-a-vis our current climate trajectory. A major win that will fortify our green transition

G20 economies need to invest $35 tn more to achieve net-zero

G20 economies would need to invest about an estimated $35 trillion this decade, over and above the current spending, to be on track to reach net zero greenhouse gas emissions by 2050, a study by McKinsey said. A report on this was released on the sidelines of the B20 summit. While G20 economies have made

India’s city gas firms bet on CNG expansion

India’s decarbonisation drive has prompted its government to push for more compressed natural gas (CNG) vehicles, which are expected to take over from gasoline and gasoil cars in the long run along with electric vehicles. City gas distribution companies are at the forefront of this initiative as they build CNG charging stations across the country,

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

Infrastructure Net Zero aligns private-public collaboration

Seven private sector peak bodies and three federal agencies have announced the launch of Infrastructure Net Zero as a joint initiative to co-ordinate, collaborate and report on Australian infrastructure’s pathway to net zero. This collaboration recognises the shared responsibility of decarbonisation and the opportunity to create an aligned and effective use of collective time, resources,

Tesco reveals netzero targets

Tesco has revealed a set of netzero targets, approved by the Science Based Targets Initiative (SBTi), in a bid to achieve carbon neutrality within its operations by 2035 and across its value chain by 2050. Tesco was one of the first businesses to set approved 1.5C science-based targets. The targets encompass interim aims to cut

IATA releases netzero tracking methodology

The methodology and related reporting process were developed with industry experts. IATA will aggregate and report annually inputs from its member airlines on an industry basis. After thorough validation, aggregate industry data from the previous calendar year will be reported annually in the fourth quarter of each year.

Shipping Industry agrees to reach netzero by 2050

The global shipping industry has agreed to reduce planet-warming gases to netzero by or around 2050. But critics say the deal is fatally flawed. Ships produce around 3% of global CO2 but countries will now have to reduce this as close as possible to zero by the middle of the century. Small island states have

EU urges IMO to set 2050 as netzero emissions target

The delegation believes that the international shipping sector is moving in the wrong direction when it comes to greenhouse gas emissions which continue to rise, both in absolute and in relative terms, and are close to reaching 3% of all man-generated GHG emissions.