Industry-wide cooperation, knowledge sharing vital for net zero: IUMI

Global ocean hull premiums rose in 2022 by 5.7% to reach $8.4bn, delegates attending annual gathering of the International Union of Marine Insurance (IUMI) were told. This was largely due to a combination of growing activity, increased vessel values and reduced market capacity. Claims for the same period remained moderate although early 2023 has witnessed

Suiso Frontier, first liquefied hydrogen carrier makes visit to Oman

In a historic moment for Oman’s clean energy aspirations, the world’s first liquefied hydrogen carrier, the Suiso Frontier, has made its inaugural visit to Oman. And it was GAC that acted as its agent for its maiden call to Muscat’s Sultan Qaboos Port. For countries like Oman, which are dedicated to achieving Net Zero by

UN climate ambition summit calls for revised netzero goals

Major emitters of planet- warming greenhouse gases are expected to ratchet up climate action and announce new plans at the United Nations Climate Ambition Summit that began recently. The New York Climate Week, organized in partnership with the UN during the general assembly, will be held on September 17-24, bringing together representatives from business, government

Alliance of freight buyers invite bids for zero-emission shipping

An alliance of freight buyers that includes e-commerce giant Amazon and the world’s largest furniture retailer IKEA has invited shipping lines to place their bids to move 600,000 containers over a three-year period on ships that offer a 90% reduction in greenhouse gas emissions compared to traditional fossil fuels on a lifecycle basis. The Zero

Carbon capture, new fuels, energy efficiency are path to netzero

Carbon capture, energy efficiency and green fuels are the roadmap to net zero by 2050. That’s the pathway outlined by the 2023 Outlook, Beyond the Horizon: View of the Emerging Value Chains, the latest industry-leading research from ABS into shipping’s progress on the green energy transition. Released at the ABS Sustainability Summit during London International

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