Climate change policies must be equitable and pragmatic: Gautam Adani

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Gautam Adani, chairman of India’s largest infrastructure conglomerate, Adani Group, said policies to manage and overcome the climate change crisis should be equitable and pragmatic.

London: Gautam Adani, chairman of India’s largest infrastructure conglomerate, Adani Group, said policies to manage and overcome the climate change crisis should be equitable and pragmatic.

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Speaking to business leaders on the sidelines of the UK’s Global Investment Summit at the London Science Museum, Adani said that green policies and climate action that is not based on equitable growth will struggle in the long run.

Decision makers, he said, should consider the voices of vulnerable people when developing climate strategies and mitigation measures. They also suggested that there is a need for a collaborative approach in which developed nations, which have emitted more greenhouse gases over time, take greater responsibility and propose policies and goals that appropriately address the needs of the developing world. We do.

“While there is a great need for net zero targets, a company’s sustainability initiatives should be aligned with the country’s sustainability goals,” Adani said.

“One must acknowledge that India has demonstrated its commitment through the bold stance taken by Prime Minister Narendra Modi since the 2015 COP21 summit and that India has been a great leader when it comes to addressing climate change. It has emerged as one of the most responsible major countries of the world. However, the principle of equitable development lies at the heart of any nation’s sustainability journey, and a nation’s development agenda with a net zero number can lead to greater inequality in global sustainability initiatives. “

Adani said, “We are putting money where our mouth is,” and Adani’s portfolio companies are moving forward with investment plans to honor the country’s commitment.

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Adani’s logistics utility APSEZ has committed to a 1.5-degree route through SBTi (Science Based Targeting Initiative), as has AGEL, Adani’s renewable energy company. Adani Transmission has made the same commitment and other portfolio companies are working towards committing to the 1.5-degree pathway. Adani is also incubating the first Indian data center company to run all its data centers on renewable energy by 2030.

In addition, AGEL will triple its renewable energy generation capacity over the next four years – a scale and speed unmatched by any company in the world. AGEL is cementing its position as the world’s largest solar power developer, having achieved its initial target of 25GW, four years ahead of schedule.

“This change has many dimensions that will impact not only the world of energy but also the worlds of chemicals, plastics, mobility, computing and metals,” Mr. Adani said.

“Achieving the vision of a greener world will depend heavily on the ability to produce hydrogen, which is both a source of energy and a feedstock for many downstream products that we use in our daily lives. What makes the world of energy transition so disruptive is the potential for creating new industries from the Adani Group.

Mr. Adani said that, over the next decade, Adani portfolio companies in the energy and utility business will invest more than $20 billion in renewable energy generation and the overall organic and inorganic investment across the entire green energy value chain will be between $50 billion and $70 billion. Arab.

By 2030, more than 70% of its planned capital expenditure will be in sustainable technologies. This includes investments with potential partners for electrolyser manufacturing, backward integration for component manufacturing and AI-based utility and industrial cloud platforms to secure supply chains for solar and wind generation businesses.

When combined with India’s cost and local benefits, this would set Adani on track to become the world’s least expensive green electron producer and the world’s largest renewable energy portfolio by 2030.

This, he said, would lay the foundation for Adani to become one of the largest green hydrogen producers in the world and, in turn, make India the world’s cheapest producer of hydrogen.

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Adani has also signed on as the primary sponsor of the energy revolution: the Adani Green Energy Gallery, the historic new gallery of the Science Museum that examines how the world went through the fastest energy transition in history to halt climate change. can.

The gallery will explore the latest climate science and the energy revolution needed to reduce and achieve global reliance on fossil fuels

Paris aims to limit global warming to about 1.5 °C above pre-industrial levels.

The announcement was made at the Global Investment Summit organized at the museum by the Prime Minister of the United Kingdom, Mr. Boris Johnson.

First published:October 19, 2021, 5:32 pm

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