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National Technology Day — why India’s steel industry need to adopt better technologies to address CO2 emissions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

As technology advances, there are reasons to be hopeful that we can find ways to reduce carbon emissions in steel production. However, existing solutions are either in their early stages of development or face specific challenges that require significant investment and cooperation from both government and industry, observes Tata Steel’s Rajiv Mangal in his exclusive column on the occasion of the National Technology Day.

The steel industry is currently facing a crucial moment in its history. It must address the urgent need to reduce its carbon footprint while keeping up with the growing global demand for steel. As one of the largest sources of industrial carbon emissions, accounting for roughly 7-9% of global CO2 emissions, the steel sector plays a vital role in the fight against climate change. 

India aims to achieve its net zero emissions target by 2070. According to India’s steel ministry, the domestic steel manufacturing industry emits 2.2-2.7 tCO2/tcs (tonnes of CO2 per tonne of crude steel produced) against a global average of 1.8-2 tCO2/tcs. India is the second largest crude steel producer globally, with 161 million tonnes of installed capacity and 122 million tonnes of production per annum.

As technology advances, there are reasons to be hopeful that we can find ways to reduce carbon emissions in steel production. However, existing solutions are either in their early stages of development or face specific challenges that require significant investment and cooperation from both government and industry.

Green hydrogen is a promising solution. However, the cost of producing green hydrogen is too high for Indian steel companies, making it economically unfeasible. To make green steel competitive, green hydrogen must be around $1-2/kg. Secondly, there are technological limitations, as only up to 15% of coking coal in blast furnaces can be replaced by green hydrogen. Lastly, there are engineering challenges to integrate hydrogen injection systems into older blast furnaces.

The discourse around carbon capture, utilisation, and storage (CCUS) has recently intensified. According to the World Steel Association, CCUS technologies can be retrofitted into existing systems to cut carbon emissions, projected to reach 8 billion tonnes by 2050. For instance, Tata Steel has commissioned a 5 tonnes per day carbon capture plant, in collaboration with a UK-based startup, in Jamshedpur.

However, some challenges are bottlenecks to its large-scale adoption, not limited to the steel industry. While the high cost of carbon capture is the major challenge, its utilisation post-capturing is the other concern. Even though mineralisation is among the most feasible ways to use it, its carbon uptake is very low. Conversion to ethanol and methanol requires green hydrogen, which poses other questions about commercial viability, availability, scale, etc.

The other routes are either capex intensive or are low on the maturity scale. Though economically viable, storage requires specific geological strata devoid of cracks to avoid future leakage. Sea basin is an option but is not logistically feasible for all companies.

Steel manufacturers are also experimenting with coke oven gas. The EASyMelt (Electric-Assisted Syngas smelter) technology, developed by Germany’s SMS Group, is a cutting-edge metallurgical solution to decarbonise steelmaking. It utilises blast furnace top gas recycling for syngas production by reforming the coke oven gas.

Coke oven gas injection is another technologically feasible route; however, its main challenge is scalability.  Of the coal used to generate coke, only about 15% is released as coke oven gas, making a minimal contribution to the steel industry’s decarbonisation targets.

The stamped charging of coals, developed in Europe and adopted in China and India, allows the use of highly volatile poor coking coals and soft and semi-soft coals without impairing coke quality. Apart from these, through polymerisation technology, the amount of non-coking coals in traditional steelmaking can potentially increase by about 10%. The shear crushing method helps increase the use of cheaper or less preferred coals. The microwave coke oven technology can potentially make coke totally from non-coking coals.

Internationally, the Japanese steel industry has also made some breakthroughs. The Super COURSE 50 technique, developed by Japanese steelmakers, reduces carbon dioxide emissions by using heated hydrogen, which has the potential to reduce blast furnace CO2 emissions by up to 30%. It uses by-product gas generated in integrated steel mills that are currently used in furnaces. 

SCOPE 21 (Super Coke Oven for Productivity and Environment Enhancement toward 21st Century) is a high-end coke-making process developed by the Japanese steel industry. It aims to replace their ageing top-charge coke ovens. SCOPE21 is claimed to use up to 50% semi-soft, weak, and non-coking coals. 

Indian steelmakers are adding the electric arc furnace route of steelmaking to their manufacturing portfolio. The technology is familiar; however, the main challenge around its adoption has been the availability of low-cost green electricity and steel scrap. As part of its carbon emission reduction strategy, Tata Steel is building its first electric arc furnace-based low-emissions steel plant in India at Ludhiana. It has also signed a 25-year agreement with Tata Power to source renewable power, potentially reducing its carbon emissions by 50 million tons.

The steel industry will need a bouquet of solutions, posing an exciting opportunity to transform itself. With the help of cutting-edge technology, we can reduce emissions, improve efficiency, and promote sustainability. Collaboration is critical to achieving these goals, and by working together, we can chart a clear path towards a bright and resilient future. Let’s embrace innovation and collective efforts to build a greener, more sustainable steel industry that will benefit future generations. The possibilities are endless, and I’m excited to see what we can achieve together!

 

The author, Rajiv Mangal, is Vice President, Safety, Health & Sustainability, at Tata Steel. The views expressed are personal. 

 

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Delhi dust storm kills two, 23 people injured: Skymet

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Possibility of thunder rain and dust storms in Delhi today and tomorrow, says Skymet.

As many as two people were killed while 23 others were reportedly injured due to overnight strong winds and dust storms, private weather forecasting services firm Skymet Weather Services said on May 11.

“Dust storm of May 10 in Delhi claimed two lives and 23 people reported injured. A signboard fell in Dwarika and several trees were uprooted. Possibility of thunder rain and dust storms today and tomorrow,” Vice president Meteorology And climate Change Skymet Weather said in a post on X.

He also said that wind speed during the dust storm in Delhi on May 10 was 68 kmph around 20:30 pm and that more such events are likely on May 11 and 12.

Power was also disrupted in many areas as the dust storm swept the national capital late Friday night.

Delhi Police said they received over 400 PCR calls last night. While 152 calls were related to uprooting of trees, 55 related to building damage, 202 calls were regarding concerns about power disruption.

The poor weather conditions also led to 10 flights being diverted from Delhi to nearby airports.

The Indian Meteorological Department (IMD) had issued a cautionary advisory urging residents to remain indoors and curtail non-essential travel. “Residents are advised to stay indoors, secure their residences, and refrain from unnecessary journeys,” IMD said in its advisory.

This morning, the IMD said light rainfall accompanied with thunderstorm and lightning was also likely over south Punjab, Haryana, Delhi, west Uttar Pradesh, Meghalaya, south-east Arunachal pradesh, south-east Assam, Manipur south interior Karnataka, Kerala, Uttarakhand, Tamil Nadu and Rajasthan.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Heat wave conditions to end across India except in Kerala and Rajasthan, says IMD

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The IMD said rains accompanied by thunderstorms, lightning, and gusty winds are very likely over Central, East, and South Peninsular regions till May 12.

Bringing in some respite, heat wave conditions are about to end across India except in Kerala and Rajasthan, according to the India Meteorological Department (IMD).

“Heatwave is about to end across the country. Only in West Rajasthan and Kerala heatwave alerts have been issued. On Friday, the heatwave will only be present in West Rajasthan. We have issued it with a yellow alert because we do not have a lot of hope for the impact,” news agency ANI quoted IMD scientist Soma Sen as saying.

The IMD said rains accompanied by thunderstorms, lightning, and gusty winds are very likely over Central, East, and South Peninsular regions till May 12.

Skymet Weather said light to moderate rain is possible over Uttarakhand, Northeast India, parts of East Uttar Pradesh, east Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh, Telangana, Lakshadweep, and Andaman and Nicobar Islands. This comes as a fresh western disturbance has arrived over the Western Himalayas.

The data by the IMD showed that heat waves this April were far worse than in 2023, the warmest year on record so far. This trend is likely to continue in May, with around eight to 11 heatwave days predicted over the south Rajasthan, west Madhya Pradesh, Vidarbha, Marathwada and the Gujarat regions.

Amid the prevailing but weakening El Nino conditions, the IMD had earlier warned of extreme heat during the April-June period, coinciding with the seven-phase Lok Sabha elections. Hundreds of thousands of voters had to cope with the searing heat when they stepped out to exercise their franchise in the second phase of the elections on April 26. Polling for 94 constituencies across 12 states will take place on May 7.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Hottest April extends 11-month global record-breaking temperature streak 

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The world’s average temperature was the highest on record for a 12-month period including April- 1.61 degrees Celsius above the average in the 1850-1900 pre-industrial period, as per Reuters.

The world just experienced its hottest April on record, extending an 11-month streak in which every month set a temperature record, the European Union’s climate change monitoring service said on Wednesday.

Each month since June 2023 has ranked as the planet’s hottest on record, compared with the corresponding month in previous years, the Copernicus Climate Change Service (C3S) said in a monthly bulletin.

Including April, the world’s average temperature was the highest on record for a 12-month period – 1.61 degrees Celsius above the average in the 1850-1900 pre-industrial period.

Some of the extremes – including months of record breaking sea surface temperatures – have led scientists to investigate whether human activity has now triggered a tipping point in the climate system.

“I think many scientists have asked the question whether there could be a shift in the climate system,” said Julien Nicolas, C3S Senior Climate Scientist.

Greenhouse gas emissions from burning fossil fuels are the main cause of climate change. In recent months, the natural El Nino phenomenon, which warms the surface waters in the eastern Pacific Ocean, has also raised temperatures.

Scientists have already confirmed that climate change caused some specific weather extremes in April, including a heatwave, in the Sahel linked to potentially thousands of deaths.

Hayley Fowler, a climate scientist at Newcastle University, said the data showed the world is perilously close to breaching the 2015 Paris Agreement’s goal to cap global warming at 1.5 degrees Celsius.

“At what point do we declare we’ve lost the battle to keep temperatures below 1.5°C? My personal opinion is we’ve already lost that battle, and we really need to think very seriously about keeping below 2°C and reducing our emissions as fast as we can,” she said.

Countries agreed the 1.5°C goal at a UN climate summit in 2015. It is the level scientists say would avoid the most disastrous consequences of warming, like fatal heat, flooding and the irreversible loss of ecosystems.

Technically, the 1.5°C target has not yet been missed, as it refers to an average global temperature over decades. But some scientists have said the goal can no longer realistically be met, and have urged governments to cut CO2 emissions faster to limit overshoot of the target.

C3S’ dataset goes back to 1940, which the scientists cross-checked with other data to confirm that last month was the hottest April since the pre-industrial period.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Scorching heat in Delhi as mercury touches 42 degree celsius

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The city is likely to experience dry and hot weather till May 10. There may be patchy rain on May 10 and 11 which may bring some relief, a SkyMet official said.

It’s a scorching heat in Delhi on Wednesday as the national capital recorded a maximum temperature of 42 degrees Celsius.

The city is likely to experience dry and hot weather till May 10. There may be patchy rain on May 10 and 11 which may bring some relief, a SkyMet official said.

“Heat is on. 42 degrees for Delhi is the highest maximum of the season. Dry and hot weather may continue until May 10. Patchy rain on May 10 and 11 may give short-term relief. Heat wave is possible over Rajasthan and west Madhya Pradesh. Take care,” Mahesh Palawat, vice president of Meteorology and Climate Change at Skymet Weather, said on X (formerly known as Twitter).

The data by the India Meteorological Department (IMD) showed that heat waves this April were far worse than in 2023, the warmest year on record so far. This trend is likely to continue in May, with around eight to 11 heatwave days predicted over the south Rajasthan, west Madhya Pradesh, Vidarbha, Marathwada and the Gujarat regions.

Amid the prevailing but weakening El Nino conditions, the IMD had earlier warned of extreme heat during the April-June period, coinciding with the seven-phase Lok Sabha elections. Hundreds of thousands of voters had to cope with the searing heat when they stepped out to exercise their franchise in the second phase of the elections on April 26. Polling for 94 constituencies across 12 states will take place on May 7.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Shell’s “fake” carbon credits — why the world is always the loser

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Strengthened oversight and enforcement mechanisms are urgently needed to ensure that carbon credits represent real, verifiable emissions reductions. Without such measures, the carbon credit market risks becoming a breeding ground for deception and corporate misconduct, points out Corporate Advisor and Policy Researcher Srinath Sridharan in his exclusive column.

The recent Financial Times report observes global oil major Shell’s egregious misconduct in peddling millions of carbon credits ostensibly tied to CO₂ removal, despite the utter absence of any such mitigation efforts. If this were true, this is simply carbon-washing!

This revelation not only casts a damning shadow on the integrity of a markets-process, hailed as important incentive in curbing greenhouse gas emissions. In Alberta, boasting one of the world’s largest and most carbon-intensive oil reserves, rampant production has impeded Canada’s strides toward meeting emission reduction targets.

Under a subsidy scheme aimed at bolstering the industry, the Alberta provincial government permitted Shell to register and vend carbon credits purportedly equivalent to twice the volume of emissions avoided by its Quest carbon capture facility from 2015 to 2021. This subsidy was subsequently slashed and eventually discontinued in 2022. 

Shell facilitated the registration of a staggering 5.7 million credits, devoid of any authentic CO₂ reductions, which were purportedly offloaded to premier oil sands producers and even some of its own subsidiaries. These duplicitous actions indicate a harsh worry — does corporate greed reign supreme, even at the expense of our planet’s future? 

If these allegations are true, it is urgent that such flagrant abuses of trust are met with severe repercussions, lest we allow the perpetuation of a system riddled with deceit and environmental degradation. Selling emissions credits for reductions that never materialised isn’t just a mere case of climate or greenwashing; it’s a brazen act of exacerbating climate change and a blatant display of poor governance. 

Such behaviour undermines the very essence of environmental stewardship and demonstrates a callous disregard for the urgent need to address climate crisis. One assumes that there would be investigation and an outcome, and if at all, the company involved would bear direct responsibility for its actions.

Exploitation of Loopholes

But accountability cannot stop there. The regulatory systems and governments that turn a blind eye to such flagrant exploitation of loopholes must also be held to account. Failure to do so perpetuates a culture of impunity and emboldens further misconduct, ultimately jeopardising the fate of our planet. 

In a troubling pattern of similar practice, Shell had previously resorted to a similar carbon claim in January 2024, using rice farming carbon credits to offset a substantial portion of its annual emissions under the guise of reducing the “carbon intensity” of its fossil fuel products. However, experts have long sounded the alarm on the dubious nature of such offsets, accusing sellers of inflating emissions reductions and resorting to accounting gimmicks to evade scrutiny, as revealed by a Climate Home investigation.

Consequently, leading carbon standard organisation Verra, which sets the world’s leading standards for climate action and sustainable development, suspended the projects and launched a thorough investigation. Shell promptly removed them from its website. 

Yet, despite the ongoing review by Verra, Shell quietly retired over a million credits from the suspended projects on January 9, effectively counting the claimed emissions reductions towards its climate targets. This move reeks of poor trust and faith and probably even ill intent, further tarnishing Shell’s corporate governance reputation. 

Such actions sow seeds of doubt about the efficacy of ESG standards and cast shadows of scepticism over the feasibility of carbon solutions. Selling emissions credits for reductions that never materialised isn’t just a case of climate or greenwashing; it’s a blatant disregard for the urgency of climate action. Shell’s actions, as reported by the Financial Times, if true, epitomise poor governance and highlight a troubling trend in the carbon credit market. 

Lack of Due Diligence?

Questions naturally arise — how did regulators fail to detect such blatant manipulation, and why did buyers of these credits not exercise due diligence? The oversight raises serious doubts about the effectiveness of regulatory frameworks and the integrity of the carbon credit market. 

The implications on the carbon credit economy are profound. Such misconduct tarnishes the credibility of carbon offsetting as a tool for emissions reduction. It undermines the trust necessary for the growth and legitimacy of the carbon credit market, hindering its potential to drive real environmental change. This repeated abuse of carbon credits calls into question the very foundation of the carbon credit economy.

If major players like Shell can exploit loopholes and manipulate the system for profit, what assurance do we have that other credits are legitimate? Can we trust that the claimed emissions reductions are genuine, or are they just another form of corporate greenwashing?

Regulators must intervene decisively to restore trust and transparency to the carbon offset system. Strengthened oversight and enforcement mechanisms are urgently needed to ensure that carbon credits represent real, verifiable emissions reductions. Without such measures, the carbon credit market risks becoming a breeding ground for deception and corporate misconduct, further undermining global efforts to combat climate change.

The repeated instances of bad faith by global entities like Shell send a clear signal — they consider themselves too big to be effectively regulated. This flagrant disregard for ethical and environmental considerations demonstrates the inadequacy of current ESG norms, especially regarding climate issues.

These raise questions on the ability of these global giants to navigate regulatory frameworks with impunity highlights the ineffectiveness of current oversight mechanisms. This pattern of behaviour not only undermines the credibility of ESG norms, particularly those relating to climate, but also underscores their susceptibility to corporate lobbying and influence. The sheer scale and influence of these entities create an imbalance of power, enabling them to shape policies and regulations in their favour, further exacerbating the challenges in achieving meaningful environmental progress. 

But then, who will ask them? What are the checks and balances? It’s puzzling why none of the major investors have raised questions or alarms on this yet. The silence begs the question — are they complicit or simply turning a blind eye to corporates’ climate paint?  Simply put, is it carbon-credit or carbon-con? The loser is always the world.

 

The author, Dr. Srinath Sridharan (X : @ssmumbai), is a Policy Researcher & Corporate advisor. The views expressed are personal.

Read his previous articles here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Brazil battles unprecedented floods: Thousands displaced as rivers overflow, with more rain coming

As torrential rains wreaked havoc, over 155 individuals were injured, while the deluge forced a staggering 159,000 people from their residences. Seeking refuge, approximately 16,000 sought shelter in schools, gymnasiums, and other makeshift accommodations. (Image: Reuters)
The aftermath of the floods unveiled a scene of utter devastation, with landslides, washed-out roads, and collapsed bridges crippling transportation infrastructure across the state. (Image: Reuters)
Reports of electricity and communication outages further compounded the crisis, leaving more than 800,000 individuals without access to clean water, as confirmed by the civil defense agency. (Image: Reuters)
Amid the chaos, dramatic rescue efforts unfolded. Many were airlifted from remote areas to safety. Meanwhile, in the town of Canoas, residents banded together, forming human chains in waist-deep waters to ferry stranded individuals to safety. (Image: Reuters)
The Guaiba river reached unprecedented levels, surpassing records set during the historic 1941 deluge. State Governor Eduardo Leite emphasised the unparalleled scale of destruction, calling for a monumental rebuilding effort akin to a “Marshall Plan.” (Image: Reuters)
Brazilian President Luiz Inácio Lula da Silva, accompanied by a high-level delegation, including Defense Minister José Múcio and Environment Minister Marina Silva, toured the inundated streets of Porto Alegre. (Image: Reuters)
Meanwhile, Pope Francis extended his prayers to the beleaguered population of Rio Grande do Sul during Sunday mass at the Vatican, urging solace for the deceased and solace for those displaced from their homes. (Image: Reuters)
The relentless downpour, which commenced on Monday and persisted through Sunday, inundated vast swathes of the region with over 300 millimeters of rainfall in some areas. (Image: Reuters)
This cataclysmic event marks the fourth environmental disaster in the state within a year, following deadly floods in 2023. (Image: Reuters)
Experts attribute the extreme weather patterns to the El Niño phenomenon, exacerbating the impacts of climate change. (Image: Reuters)
 5 Minutes Read

Fresh spell of heat wave likely over Gujarat, Rajasthan and west MP till May 11, says IMD

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The heat wave is very likely to abate over East and south peninsular regions from Tuesday, May 7. The rain is very likely over East and south peninsular India till May 10, the IMD said.

The India Meteorological Department (IMD) on Monday, May 6, said a fresh spell of heat wave is likely over Gujarat, Rajasthan and west Madhya Pradesh during the next five days.

The heat wave is very likely to abate over East and south peninsular regions from Tuesday, May 7. The rain is very likely over East and south peninsular India till May 10, the IMD said.

Heavy rainfall is very likely to continue over Northeast India till May 7, it added.

April witnessed record-smashing maximum temperatures in east, northeast and southern peninsular India, prompting health warnings from government agencies and some states to suspend in-person classes in schools. A number of stations recorded their highest-ever April day temperatures.

IMD data shows that heat waves this April were far worse than in 2023, the warmest year on record so far. This trend is likely to continue in May, with around eight to 11 heatwave days predicted over the south Rajasthan, west Madhya Pradesh, Vidarbha, Marathwada and the Gujarat regions.

India witnessed two spells of heat waves in April — from April 5 to 7 and April 15 to 30. The IMD attributed the prolonged heatwave spell over east, northeast and south peninsular India in April to the absence of thunderstorms and an anticyclone at lower levels over the west central Bay of Bengal and the adjoining eastern coasts of India. This caused the sea breeze to cut off over Odisha and West Bengal on most days.

According to IMD data, the number of heatwave days this April was the highest in 15 years in Gangetic West Bengal and nine years in Odisha. Odisha also experienced the longest heatwave spell (16 days) in April since 2016.

Amid the prevailing but weakening El Nino conditions, the IMD had earlier warned of extreme heat during the April-June period, coinciding with the seven-phase Lok Sabha elections. Hundreds of thousands of voters had to cope with the searing heat when they stepped out to exercise their franchise in the second phase of the elections on April 26. Polling for 94 constituencies across 12 states will take place on May 7.

The weather office had earlier expected four to eight heatwave days in different parts of the country in April against a normal of one to three days. Ten to 20 heatwave days are expected against a normal of four to eight in the entire April-June period.

With inputs from PTI

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Orange alert in Kerala as Kallakadal threatens coastline–all you need to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Read all about Kallakadal that is posing risks to coastal communities, infrastructure, and livelihoods along the Thiruvananthapuram coastline.

Kerala has been placed under an ‘Orange Alert’ by the Indian National Centre for Ocean Information Services (INCOIS) as high-energy swell waves, known locally as Kallakadal, pose a grave threat to the Thiruvananthapuram coastline.

An Orange Alert signifies the imminent risk of adverse weather conditions that could endanger life and property.

Sea erosion, a persistent challenge along Kerala’s coast, has been exacerbated by the emergence of high-energy swell waves.

These waves, generated by distant weather systems, carry immense energy as they travel across the open ocean before crashing onto the coastline with tremendous force.

What exactly is Kallakadal?

The term “Kallakadal,” which translates to “angry sea” in Malayalam, aptly describes the fierce and unpredictable nature of the ocean during such periods of heightened wave activity.

These waves can cause flooding, damage to coastal properties, and even loss of life. Additionally, fishing activities may be disrupted.

Residents have, therefore, been strongly advised to exercise caution and avoid unnecessary travel to coastal areas until the situation stabilizes.

Fishermen have been advised to refrain from venturing into the sea until conditions improve, as the risk of accidents and emergencies is significantly heightened during this time.

Earlier, the India Meteorological Department (IMD) had also issued a yellow alert for Alappuzha, Palakkad, Thrissur, and Kozhikode districts due to an anticipated heatwave.

Chief Minister Pinarayi Vijayan had issued several instructions including the closure of educational institutions until May 6.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Mumbai: High sea waves till Sunday night, BMC issues advisory

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

IMD and INCOIS have issued an alert indicating that the sea will be dominated by high-energy swell waves along the nearshore/beach areas. This alert will remain into effect for 36 hours till Sunday night.

In the latest advisory, the Brihanmumbai Municipal Corporation (BMC) on Saturday cautioned people from entering the sea amid warnings about high tide till Sunday night.

The civic body said that the city will witness a ‘swell of surge waves’ starting from 11.30 am on Saturday and it will last till 11.30 pm on Sunday.

“The Indian Meteorological Department (IMD) and the Indian National Center for Ocean Information Services (INCOIS) have issued an alert indicating that the sea will be dominated by high-energy swell waves along the nearshore/beach areas,” read a post on the official X handle of the BMC.


This alert will remain in effect for 36 hours till Sunday night, it added.

During this time, shore areas and low-lying areas may experience the combined effect of the swell waves, the height of which may reach up to 0.5 to 1.5 meters.

“As a precautionary measure, citizens are advised to refrain from entering the sea during the next 36 hours,” the civic body stated.

It has further asked fishermen to exercise caution.

The civic personnel have been asked by the BMC commissioner Bhushan Gagarin to coordinate with the police, while security guards at beaches in the city have been ordered to not allow people from entering the waters till Sunday night.

It further stated that extra precautions are recommended, particularly due to the rising number of tourists visiting beaches across Mumbai city during the summer vacation.

Meanwhile, people residing in coastal areas have been asked to remain cautious.

“Fisherfolk along the coast are urged to keep their boats at a safe distance on the shore during this period to prevent damage from collisions. Additionally, precautions are advised while fishing in the sea. Small vessels may navigate nearshore with due caution,” read the BMC advisory on X.

Also, citizens have been appealed to cooperate with security guards, lifeguards, and other deployed agencies on the beaches and near the seashore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?