| Sourced From Financialexpress |
New Delhi: With a goal to reduce carbon emissions by 20-25% by 2020, as a part of India’s commitments at Copenhagen, India Inc is trying its best to adopt newer strategies to reach that target. In the Financial Express-Emergent Ventures India Green Business Awards on Saturday, several industry associations discussed myriad ways to cut emissions and make the environment cleaner.
Take for instance the metals and mining industry. Over 95% of the green house gas emissions are generated directly by the mining industry as a result of the fossil fuel use. In this industry, energy use represents 15-20% of the operating cost. According to the FE-EVI report on corporate India’s green initiatives, the energy component in the mining industry has to be controlled to reduce the green house gas emissions.
The report warns that if adequate care is not taken then the mining industry can have “adverse effect” on the surrounding surface and ground water which can result in high concentration of some chemicals, such as arsenic and sulfuric acid, over a significant area. Environmentally, the report adds, issues like erosion, formation of sinkholes, loss of bio-diversity and contamination of ground water could arise.
Industry leaders from the mining and steel companies present during the FE-EVI awards on Saturday acknowledged the need to develop a sustainable framework for growth. “Tata Steel has always had a serious commitment to energy efficiency. It is our mission to help in the global efforts to reduce carbon emissions,” said Ambar Singh Roy, head, corporate affairs & communications, Tata Steel Ltd.
Similarly, NK Sharma, president (steel plant) at Ispat Industries said that the evening gave him a chance to get a new insight into the entire climate debate. He said, “This function gave us a chance to interact with policy mak-ers in renewable energy space. It provided some insights into making our environment conservative measure financially more viable.”
The report cited that the mining and metal industry should look at developing alternative fuels to cut green house emissions. It pointed out that a major challenge for the industry lies in balancing the relationship between the mining companies and local communities. “The government needs to develop consistent guidelines for environmental man-agement to avoid a race to the bottom.”
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India Inc eyes new strategies to help cut carbon emissions by 20-25%: | Sourced From Financialexpress |
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India Inc eyes new strategies to help cut carbon emissions by 20-25%: | Sourced From Financialexpress… http://bit.ly/cXqrf9 #carbonoffset
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