Carbon Management: The Emergence of a New Sector

IN EVERY AGE THERE IS A GLOBAL ASPIRATION THAT TRUMPS ALL LOCAL CONCERNS. IN 2023, THAT ASPIRATION IS THE REDUCTION OF CARBON EMISSIONS, WHICH IS DRIVING GOVERNMENTS AND BUSINESSES ACROSS THE WORLD TO CHASE CLIMATE TARGETS SUCH AS NET ZERO EMISSIONS BY 2050 OR 2070.

- SOUMYA DUGGAL

Heat-trapping gas carbon dioxide is emitted when fossil fuels (coal, oil and natural gas) are burnt to power vehicles, buildings and industries, thereby significantly warming the climate and aggravating environmental disasters such as wildfires, droughts, storms and so on. According to a report titled 'Global Carbon Budget' that was unveiled at COP27 in Egypt last year, if the current levels of carbon emissions continue, there's a 50 per cent chance that in just nine years the world will exceed the global warming threshold of 1.5°C decided as part of the Paris Agreement. India, in particular, was projected to witness a rise of 6 per cent in its emissions last year, mostly on account of coal usage. The country has recorded one of the highest emission growth rates among the world's economies in the last 10 years.

In order to address such concerns of growing emissions, a whole ecosystem has formed around clean technologies in India in the last few years, including solar power, electric vehicles, green hydrogen and so on. The emerging sector of what can be called carbon management or decarbonisation offers many opportunities.

DECARBONISATION: THE INDIAN STARTUP STORY