GAIL sets 2040 goal for net zero carbon emissions
PremiumGAIL (India) Ltd has set a 2040 target to achieve net zero carbon emissions from its operations, Reuters has reported citing chairman Manoj Jain at an annual shareholders' meeting on Friday.
GAIL (India) Ltd has set a 2040 target to achieve net zero carbon emissions from its operations, Reuters has reported citing chairman Manoj Jain at an annual shareholders' meeting on Friday.
India, one of the world's biggest greenhouse gas emitters, is aiming to reach net zero emissions by 2070.
This announcement comes a day after Indian Oil Corp on 25 August announced its plans to invest more than $25 billion to achieve net-zero emissions from its operations by 2046.
Most of IOC's efforts will be targeted at decarbonising its refineries and petrochemical complexes, which account for 97 percent of its operations, chairman SM Vaidya said.
Meanwhile, to achieve its net-zero carbon emission target by 2040, Bharat Petroleum Corporation Ltd (BPCL) has set up a business unit 'Renewable Energy' that will seek to set up 1 Gigawatt of renewable electricity generation capacity by 2025 and 10 GW by 2040, Chairman and Managing Director Arun Kumar Singh had said adding that the firm is also blending more than 10 per cent ethanol in petrol.
In November 2021, Prime Minister Narendra Modi at the COP26 announced that India will achieve net-zero carbon emissions by 2070.
Speaking at the Conference of Parties (COP-26) summit in Glasgow, Modi had said India, the world’s third-largest emitter of greenhouse gases, would scale up its non-fossil energy generation capacity to 500GW by 2030, meet 50 percent of its energy requirements from renewables by the same deadline, bring down its total projected carbon emission by 1 billion tonnes by 2030 and also bring down the carbon intensity of the economy to below 45 percent by the end of the decade.
(More details awaited)
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