Skip to main content

Climate change?: Coal India ranks No 1, Adani No 3 in carbon emission worldwide, says Fossil Fuel Indexes report

By Our Representative
In an astonishing revelation, several top Indian companies -- Government of India-owned Coal India, Gujarat's powerful Adani Group, Tata Steel, National Thermal Power Corporation (NTPC), Tata Power, and Steel Authority of India Ltd (SAIL) -- have found their way into top 100 CO2 emitting coal companies worldwide.
A recent high-profile report by Fossil Free Indexes LLC has, in fact, ranked Coal India, a listed company, as the worst carbon emitter in the world with 57.722 gigatons (Gt) of CO2, ranking it No 1. Following Coal India’s carbon dioxide emission is China Shenhua with 36.807 Gt, ranking No 2, and then comes the turn of Adani Group with 25.383 Gt ranking No 3.
As for others, their CO2 emission is Tata Steel, ranking 31st, with an emission of 2.709 Gt; NTPC, ranking 48th, with an emission of 1.740 Gt; Tata Power, ranking 58th, with an emission of 1,062 Gt; and SAIL, ranking 91st, with an amission of 0.307 Gt of CO2.
The report, titled "The Carbon Underground 200TM", identifies the top 100 public coal companies and as many public oil and gas companies globally, ranking them by the potential carbon emissions content of their reported reserves.
As for oil and gas emission, Oil and Natural Gas Commission (ONGC) ranks No 14th worldwide, with a CO2 emission of 2.457 Gt, and Oil India ranks 34th, with an emission of 0.113 Gt.
Pointing towards the danger posed by these 200 listed pubic companies, the report, the report states, "The reserves of these companies total 555 gigatons (Gt) of potential CO2 emissions, almost five times more than can be burned for the world to have an 80% chance of limiting global temperature rise to 2°C (3.6° F)."
The report adds, the CO2 emissions potential of the coal, oil and gas reserves of these "largest public fossil fuel companies continues to grow", despite the "dwindling carbon emissions budget implied by a broad government policy agreement to avoid excessive global warming."
"The trends evidenced in this report demonstrate that reserve growth continues to be the norm for both the oil and gas and the coal sectors as a whole. The 555 Gt CO2 emissions potential estimated to be embedded in the reported reserves of the 200 firms – The Carbon Underground 200 – represents over 400% of the firms’ carbon budget allocation, based on their share of carbon emissions potential of global reserves", the underlines.
According to the report, it "estimates an updated carbon budget based on the only IPCC climate scenario with a future less than 2° C above pre-industrial levels with >66% probability. These estimates broadly confirm growing research on the exposure of public fossil fuel companies, especially those in the coal sector, to potential constraints and revaluation based on stranded assets.
The report further says, "Companies on the list are investable as of January 31, 2015. Subsidiaries with their own exchange listings that report reserves separately from their parent are eligible for inclusion. Companies that publicly trade only a portion of their overall shares are also eligible for inclusion."
It adds, "The rankings are based on calculated carbon emissions data using reserves reported as of October 31, 2014. The ranking are adjusted for company mergers and acquisitions through January 31, 2015."
Pointing towards its methodology, the report says, "Rankings are constructed using a reserves-based methodology with the underlying core data based on 'reported' reserves. Coal reserves are the sum of proven and probable reserves based on the last reported reserves amount by mine.”
It adds, “Reserves are allocated to listed companies based on percentage ownership of individual mines. Oil and gas companies are ranked on proven reserves (1P) net of royalty payments."
The report says, "The Carbon Underground 200 relies on the IPCC Revised 1996 Guidelines for National Greenhouse Gas Inventories as a methodological framework. The calculation of CO2 emission potential requires several conversions to the raw reserves figures."
However, there is a disclaimer in the report: "Fossil Free Indexes LLC and its third-party data providers and licensors do not guarantee the accuracy, completeness, timeliness or availability of the information contained herein".

Comments

TRENDING

Missed call drive for VVPAT verification follows online plea to "pressure" poll panel

By Our Representative
Several political activists have begun a new campaign, asking concerned citizens to give a missed call on 9667655855 to “support the demand that 2019 Loksabha elections must be declared only after verification of 50% electronic voting machines (EVMs) with Voter Verifiable Paper Audit Trail (VVPAT) receipts.” The effort, supported by civil society networks across India, is meant to "further pressure" India's election machinery to ensure that the poll outcome becomes more transparent.

Did Modi own, buy digital camera costing Rs 7 lakh in 1987-88, also used email?

Counterview Desk
In an interview to the news channel News Nation, aired on Saturday last, Prime Minister Narendra Modi declaring that he had approved the air strike despite bad weather because he felt the clouds would hide Indian planes from Pakistani radar is known to have become a laughing stock across India.

World Bank clarifies: Its 26th rank to India not for universal access to power but for ease of doing business

By Our Representative
In a major embarrassment to the Government of India, the World Bank has reportedly clarified that it has not ranked India 26th out of 130 countries for providing power to its population. The top international banker’s clarification comes following Union Power Minister Piyush Goyal’s claim that India has “improved to 26 position from 99” in access to electricity in just one year.

When a neo-nationalist "invaded" hijab clad ladies, Bengali looking scholar in Delhi metro

By Aditi Kundu*
Travelling in Delhi metro on a daily basis to commute from Mayur Vihar to Dwarka, I see diverse people everyday. One can hear them talk about different aspects of life, from kitchen pilitics to national politics. On the morning of May 13, I witnessed a strange incident; disturbing and amusing at the same time.

Terror attacks: Difference in public reactions in India, those in Colombo, Christchurch

By Battini Rao*
Recently, on April 20 during Easter Sunday, more than 250 people were killed in a series of coordinated terrorist attacks in churches and hotels in Colombo, Sri Lanka. Local Islamic organisations Thawheed Jamath (NJT) and Jamathei Milathu Ibrahim (JMI) are held responsible for the attack. Islamic State has also claimed responsibility.

Women lost 88 lakh jobs in 2018: Why Modi "failed" to address their disempowerment?

Counterview Desk
Five human rights leaders Anjali Bhardwaj, Shabnam Hashmi, Purnima Gupta, Dipta Bhog, and Amrita Johri of the Women March for Change have posed 56 questions (alluding to Modi’s claim of 56 inches chest) to Prime Minister Narendra Modi and BJP against the backdrop of his interview with a Bollywood star, which was allegedly masqueraded as a “non-political” conversation.

PepsiCo warned: Withdraw cases against Gujarat farmers or face dire consequences

By Our Representative
About 200 farmers’ leaders and activists, in a letter to Dr KV Prabhu, chairperson, Protection of Plant Varieties and Farmers’ Rights Authority (PPVFRA), and Dr R C Agrawal, registrar general, PPVFRA, Ministry of Agriculture & Farmers Welfare, Government of India, have demanded that PepsiCo immediately withdraw all the legal suits it has slapped on many potato farmers in different districts of Gujarat.

During Emergency, the ruler was extolled but Opposition wasn't punched around: Scribe

By Rajiv Shah
A just-released book, “India: The Wrong Transition”, by a top Delhi-based scribe Anand K Sahay, has quoted “journalistic circles” to say that the Indian mainstream media – with certain “honourable exceptions” – has virtually abandoned the “practice of journalism”, and  this happened following a “sting operation” that showed that “the crème de la crème of Indian journalism were only too willing, for a suitable price, to let poisonous Hindutva propaganda prevail in their news columns.”

Ex-IAS, IPS, IFS officers tell Modi: Pragya Thakur doesn't represent India's rich heritage

Counterview Desk
In an open statement, a group of former civil servants have said that normally they would have dismissed the candidature of Pragya Thakur, who is BJP’s choice for the Bhopal Lok Sabha constituency, as an act of political expediency. However, they were forced to react to her candidature after none other than Prime Minister Narendra Modi termed has as a “symbol of our civilisational heritage.”

Disproportionately high death sentences against Dalits, Adivasis, Muslims: UN told

Counterview Desk
In their joint submission to the United Nations Human Rights Committee to meet for the listing of adoption of list of issues at its 126th session, July 1-26, 2019, top Dalit rights organizations have taken strong exception to, among other things, "disproportional application of death sentencing by the judiciary of minorities, such as Muslims, Dalits and Adivasis".