Coal India Pledges to Reach Net-Zero Emissions in its Operations

Coal India’s [COAL:IN] Chairman Pramod Agrawal stated that the company plans to achieve net-zero emissions in its operations within the next three to four years, as reported by Reuters on March 8. Coal India, a government-owned coal mining and refining company in India, would employ more renewable energy and greener transportation to meet the aim. However, the objective does not take into account emissions from the coal-burning process.

India is the world’s third-largest producer of greenhouse gases, with energy, agriculture, industry, transportation, and infrastructure accounting for more than 96% of total emissions. The country now has about 170 coal-fired power plants. Many nations are seeking to replace coal, natural gas, and oil-fired power facilities with renewable energy sources such as wind and solar, as part of a worldwide push for green growth. India has set a goal of achieving net-zero carbon emissions by 2070 and a reduction of 1bn tons of carbon emissions by 2030. However, considering India’s stage of economic growth, traditional energy sources are still in high demand. According to the International Energy Agency (IEA), India’s oil consumption would increase by 74% by 2040, natural gas demand will more than triple, and coal demand will increase by 31%. Furthermore, IEA predicted that the post-pandemic economic rebound would push global coal demand to new highs in 2022, undermining global attempts to reach net-zero emissions.

Sources:

https://www.reuters.com/business/environment/coal-india-plans-become-net-zero-emitter-3-4-years-chairman-says-2022-03-07/

https://m.21jingji.com/article/20220119/d256c3fcc6d83a82cc4c90ccb2a20a66.html

https://www.cdmfund.org/30086.html