Carbon Clean List

Power ministry seeks comments on draft carbon credit trading scheme

The power ministry on Monday issued a draft 'Carbon Credit Trading Scheme' with an aim to set up a framework for Indian carbon market and sought feedback from stakeholders. The comments on the draft scheme would have to be submitted with the ministry by April 14, 2023, an office memorandum stated. The parliament has passed the Energy Conservation (Amendment) Bill, 2022 and a notification for the same was issued in December 2022. One of the provisions of this amendment included empowering the central government to "specify carbon trading scheme", in consultation with Bureau of Energy Efficiency (BEE). Now the ministry of power is in the process to finalise the Carbon Credit Trading Scheme (CCTS). The CCTS provides that an 'Accredited Carbon Verifier' means an agency accredited by the BEE to carry out validation or verification activities in respect of the CCTS. The 'Carbon Credit Certificate' (CCC) means the certificate issued to the registered entity by the central government, or

IEX forms subsidiary to explore business opportunities in carbon market

Indian Energy Exchange (IEX) on Tuesday announced setting up a wholly-owned subsidiary, International Carbon Exchange Private Ltd (ICX), to explore business opportunity in the voluntary carbon market. The ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate reduction of global GHG (green house gases) emission by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees, an IEX statement said. The new company will facilitate corporates to meet their climate commitments goals. The Exchange platform will provide a robust market signal for attracting further investments in the sustainable projects and help corporates to allocate capex towards energy transition in most optimum manner, it added. As per industry estimates, the annual demand for voluntary carbon credit globally is expected to reach around 1.5 Gigatons, with India contributing around 200 million tonnes by ...

Carbon credits imperative for climate positive plans: EKI Energy Services

EKI Energy Services on Monday welcomed the government's stance on carbon credits and said that carbon credits and its trade is an imperative for climate positive plans. Union Minister for New and Renewable Energy R K Singh on October 6, said that the government is taking measures to make India a market for carbon credit which will be utilised to meet the country's NDC goals. India has submitted its updated Nationally Determined Contribution (NDC) under the Paris Agreement to the UN Framework Convention on Climate Change, emphasising that it is a step forward towards its long-term goal of reaching net zero by 2070. "We are happy to hear that this matter finally has greater clarity by the Minister himself. Carbon credits and its trade is an imperative and integral part of any climate positive plans given its capabilities to control GHG (greenhouse gas) emissions," said Manish Dabkara, CMD & CEO of EKI Energy Services Ltd. This clarification will enable the entire industry ecosystem .

JSW Steel undertakes initiatives to reduce carbon footprint: Chairman

JSW Steel is undertaking various initiatives to reduce carbon footprint in line with India's net zero ambitions, its Chairman Sajjan Jindal said on Wednesday. According to the industrialist, his company has already earmarked a sum of Rs 10,000 crore to increase the use of renewable energy to replace thermal power and other green initiatives. "We are undertaking a host of initiatives to reduce our carbon footprint, aligned with India's net zero ambitions and are envisaging an investment of Rs 10,000 crore towards this. One such initiative is to increase the use of renewable power in our operations," Jindal said, addressing the shareholders at the company's 28th Annual General Meeting (AGM). JSW Steel contracted for 1 gigawatt (GW) of renewable energy, of which 225 MW has become operational in April 2022, and the balance will come on stream in phases, he noted. On Monday, the company announced it has partnered with US-based Boston Consulting Group (BCG) to develop strategies to meet

Saudi Aramco understated carbon footprint by up to 50%, says report

The world's biggest oil company has been excluding most refineries and chemical plants from its carbon disclosures

7 Indian companies among top 200 carbon clean firms

Four Indian companies-Godrej Industries, NHPC Ltd, Sutluj Jal Vidyut Nigam and Bharat Electron have moved out of ranking for being laggard