A recent Reserve Bank of India (RBI) report recommended technological interventions such as carbon capture to tackle rising emissions in the cement industry. The report highlighted the “exciting opportunities” for the cement sector with regards to green technology. India is the second-largest cement producer and consumer, second to China. It accounts for over eight percent of the global installed capacity which is only expected to grow. According to the report, government schemes such as the National Infrastructure Pipeline, Pradhan Mantri Awas Yojana, and the SMART cities mission are likely to push up the demand for cement.
Exxon estimates carbon capture will become $4 trillion market by 2050
Exxon Mobil Corp, meanwhile, estimated the carbon capture will become a $4 trillion market by 2050. This comes up to about 60% of the company’s 2050 estimate for oil and gas. Oil companies have been looking to make carbon capture technology (CCS) a lucrative business, and it has also received an endorsement from the IPCC, which stated the technology is key to mitigating climate change.
India plans to launch own uniform carbon trading market in a year
India is planning to launch its own uniform carbon market in a year. The country is the largest exporter of carbon credits. According to a report in The Economic Times, the government is mulling changes in legislation to facilitate a carbon trading scheme. The Economic Times quoted sources as saying that this scheme will subsume all present tradeable certificates. These clean certificates cannot be exported to international carbon markets.
Parliamentary panel suggests changes to Wildlife Protection (Amendment) Bill
The Parliamentary standing committee headed by Congress leader Jairam Ramesh suggested changes to the Wildlife Protection (Amendment) Bill, 2021, to prevent elephant trade. The panel also suggested including non-official members in state/national wildlife boards. Experts previously pointed out that the proposed bill removes the protection given to elephants against being traded commercially. The panel recommended there should be a balance between religious traditions and conservation.
It suggested introducing terms and conditions that would strengthen the protection accorded to seized and surrendered wild animals. The panel suggested at least one-third non-official members from at least three wildlife institutions and the director of the Wildlife Institute of India or his/her nominee should be included on the proposed standing committees of state wildlife boards formed to assess infrastructure projects in and around protected areas.