1.1 Global warming and IPCC resolution The Intergovernmental Panel on Climate Change. Aniruddha Sharma, chair and CEO of Carbon Clean, said in a statement: We are thrilled to see our. Oil & Gas companies in India to develop and scale up CCS/CCUS techniques. According to the NTPC, the capture of CO2 from the flue gas of coal-fired power plants, and its conversion to methanol, is a priority area and is expected to create potential new business opportunities and revenue streams for the company. A fund structure (in carbon sequestering) will require us to sell just when the tree is giving us the maximum return," Rai said.Īavishkaar’s permanent capital vehicle, to be led by Sanchayan Chakraborty, is likely be incorporated overseas by the end of March. implementation of Carbon Capture, Utilization and Storage (CCUS)/ Carbon Capture and 6torage (&6) techniques in the oil and gas sector in ,ndia task force titled ‘8pstream for. “A lot of investors are interested, but we have been asking ourselves if we should we raise this capital through a permanent vehicle as no limited partner (an investor in a fund) will stay invested for 30 years. Funds usually have a 10-year tenure, which means that in such a structure, the firm will be obliged to exit just when the trees start sequestering most carbon dioxide. Although it found interest from investors, including development finance institutions, it has since changed its thinking. The vehicle will also invest in “agriculture and land use systems, afforestation/reforestation, mangroves and wetlands regeneration, other community-based carbon projects such as efficient cookstoves, biogas, biochar," according to a note on the firm’s investment thesis.įor this, the firm will “build and invest in technologies which enhance efficiency and effectiveness of carbon project execution, monitoring and verification, and engage in market making and trading of carbon".Ĭarbon credits trade at $15–50 apiece in global markets where “high integrity carbon" commands a premium.Īavishkaar first considered launching a $350 million–$500 million fund for carbon sequestering in June 2022, Mint reported at the time. “As the trees start growing and sequestering carbon, the plan is to bring in an international agency which can evaluate the systems and processes that are put in place and certify that the carbon being produced is of high integrity." The firm will invest in farmers and create groups that will plant local tree varieties such as sal or teak over 5,000 to 10,000 acres of farmland. “We have received interest from all the large global companies, who need these offsets," Rai said.Īavishkaar plans to identify and mobilize small landowners, helping them grow more trees and adding density to existing forest lands. Bio sequestration, or carbon sequestration, uses trees-through the conversion of carbon dioxide to oxygen-to remove carbon dioxide from the environment. “Investing in nature with bio sequestration is effectively helping poor people create assets without having an obligation to return the money and try to create returns through voluntary carbon trade," Rai said. Sequestration is the process of capturing and storing carbon, while a permanent vehicle has unlimited tenure. O.P.The firm has received $150 million worth of soft commitments from global companies-such as oil firms or tech majors-wanting to buy these carbon credits resulting from the carbon sequestration, to offset their carbon emissions. The feedback/ comment may be sent to the following email ids: Energy Dais presents the most comprehensive list of the top Carbon Capture Companies in India, Middle East, USA & Canada. The committee has submitted draft of the report titled 2030 Roadmap for CCUS for Upstream (&3 &ompanies. You are kindly requested to provide your valuable suggestions/ comments on the draft Roadmap latest by. practicable framework to accelerate research and development on carbon capture, utilization and storage in India, a MoU has been signed between MoPNG and IIT Bombay. Draft roadmap for your reference is available here. The draft Roadmap is now open for receiving suggestions/ comments from public and has been uploaded on the website of MoPNG. A task force titled ‘Upstream for CCS/CCUS’ (UFCC) to this effect is working to prepare the ‘2030 Roadmap for CCUS’ that shall provide necessary direction and guidelines for all oil and gas companies to develop and scale up CCS/CCUS techniques. The Ministry of Petroleum and Natural Gas, Government of India has initiated efforts to provide opportunities for collaboration and knowledge sharing to the industry and prepare a unified and practical strategy for development and implementation of Carbon Capture, Utilization and Storage (CCUS)/ Carbon Capture and Storage (CCS) techniques in the oil and gas sector in India.
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