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Tuesday, March 21, 2023

India’s GAIL Sets 2040 Goal to Achieve Net Zero Carbon Emissions

Meanwhile, Bharat Petroleum Corporation Ltd (BPCL) has also vowed to achieve a similar target as GAIL

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INDIA: Top gas distributing organization in India, GAIL (India) Ltd., has set a 2040 objective to achieve net zero carbon emissions from its operations, its chairman Manoj Jain said at an annual shareholders’ meeting on Friday.

India, one of the world’s top greenhouse gas emitters, is gearing up to reinforce its green energy and achieve complete independence from fossil fuel burning by 2070.

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This announcement follows a day after Indian Oil Corp (IOC) announced on Aug 25 its plans to invest over $25 billion to achieve net-zero emissions from its operations by 2046.

The IOC’s efforts are focused explicitly on targeting decarbonising its oil refineries and petrochemical complexes, which account for a staggering 97 percent of its workings, chairman SM Vaidya said.

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As more countries join in the battle against global warming and reduce their carbon footprint via fuel burning, deforestation, and other industrial activities, the need of the hour is to search for sustainable methods of living and reduce carbon emissions.

India has become another member of the global community that has consistently vowed to switch to greener energy methods for the longer sustenance of the planet.

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Meanwhile, Bharat Petroleum Corporation Ltd (BPCL) has also vowed to achieve a similar target as GAIL by establishing a new business unit called ‘Renewable Energy’.

The unit will focus on setting up 1 gigawatt (GW) of renewable electricity generation capacity by 2025 and 10 GW by 2040, according to chairman and managing director Arun Kumar Singh. Singh has also assured that the firm is also blending more than 10 percent ethanol in petrol.

In his address at the Conference of Parties (COP-26) summit in Glasgow back in November 2021, Prime Minister Narendra Modi vowed to cut back on greenhouse gas emissions and increase non-fossil energy generation capacity from 500 GW by 2030.

The target also includes- meeting half its energy requirements from renewables by the same deadline and reducing predicted carbon emissions by 1 billion tonnes by 2030.

Additionally, India would also bring down the carbon intensity of the economy to below 45 percent by the end of the decade.

As per statistics in 2019, India occupies the third position on the list of the world’s largest greenhouse gas emitters. The first two spots are occupied by the superpowers of China and the US, respectively.

Also Read: Indian Oil Corporation Signs MoU to Provide Rs 50 Crore for Cheetah Transfer from Africa

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