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

Loktantra Bachao Abhiyan raises concerns over Jharkhand Adivasis' plight in Assam, BJP policies

By Our Representative The Loktantra Bachao Abhiyan (Save Democracy Campaign) has issued a pressing call to protect Adivasi rights in Jharkhand, highlighting serious concerns over the treatment of Jharkhandi Adivasis in Assam. During a press conference in Ranchi on November 9, representatives from Assam, Chhattisgarh, and Madhya Pradesh criticized the current approach of BJP-led governments in these states, arguing it has exacerbated Adivasi struggles for rights, land, and cultural preservation.

Promoting love or instilling hate and fear: Why is RSS seeking a meeting with Rahul Gandhi?

By Ram Puniyani* India's anti-colonial struggle was marked by a diverse range of social movements, one of the most significant being Hindu-Muslim unity and the emergence of a unified Indian identity among people of all religions. The nationalist, anti-colonial movement championed this unity, best embodied by Mahatma Gandhi, who ultimately gave his life for this cause. Gandhi once wrote, “The union that we want is not a patched-up thing but a union of hearts... Swaraj (self-rule) for India must be an impossible dream without an indissoluble union between the Hindus and Muslims of India. It must not be a mere truce... It must be a partnership between equals, each respecting the religion of the other.”

Right-arm fast bowler who helped West Indies shape arguably greatest Test team in cricket history

By Harsh Thakor* Malcolm Marshall redefined what it meant to be a right-arm fast bowler, challenging the traditional laws of biomechanics with his unique skill. As we remember his 25th death anniversary on November 4th, we reflect on the legacy he left behind after his untimely death from colon cancer. For a significant part of his career, Marshall was considered one of the fastest and most formidable bowlers in the world, helping to shape the West Indies into arguably the greatest Test team in cricket history.

Andhra team joins Gandhians to protest against 'bulldozer action' in Varanasi

By Rosamma Thomas* November 1 marked the 52nd day of the 100-day relay fast at the satyagraha site of Rajghat in Varanasi, seeking the restoration of the 12 acres of land to the Sarva Seva Sangh, the Gandhian organization that was evicted from the banks of the river. Twelve buildings were demolished as the site was abruptly taken over by the government after “bulldozer” action in August 2023, even as the matter was pending in court.

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

A Hindu alternative to Valentine's Day? 'Shiv-Parvati was first love marriage in Universe'

By Rajiv Shah The other day, I was searching on Google a quote on Maha Shivratri which I wanted to send to someone, a confirmed Shiv Bhakt, quite close to me -- with an underlying message to act positively instead of being negative. On top of the search, I chanced upon an article in, imagine!, a Nashik Corporation site which offered me something very unusual.

Will Left victory in Sri Lanka deliver economic sovereignty plan, go beyond 'tired' IMF agenda?

By Atul Chandra, Vijay Prashad* On September 22, 2024, the Sri Lankan election authority announced that Anura Kumara Dissanayake of the Janatha Vimukthi Peramuna (JVP)-led National People’s Power (NPP) alliance won the presidential election. Dissanayake, who has been the leader of the left-wing JVP since 2014, defeated 37 other candidates, including the incumbent president Ranil Wickremesinghe of the United National Party (UNP) and his closest challenger Sajith Premadasa of the Samagi Jana Balawegaya.

Will Bangladesh go Egypt way, where military ruler is in power for a decade?

By Vijay Prashad* The day after former Bangladeshi Prime Minister Sheikh Hasina left Dhaka, I was on the phone with a friend who had spent some time on the streets that day. He told me about the atmosphere in Dhaka, how people with little previous political experience had joined in the large protests alongside the students—who seemed to be leading the agitation. I asked him about the political infrastructure of the students and about their political orientation. He said that the protests seemed well-organized and that the students had escalated their demands from an end to certain quotas for government jobs to an end to the government of Sheikh Hasina. Even hours before she left the country, it did not seem that this would be the outcome.

A Marxist intellectual who dwelt into complex areas of the Indian socio-political landscape

By Harsh Thakor* Professor Manoranjan Mohanty has been a dedicated advocate for human rights over five decades. His work as a scholar and activist has supported revolutionary democratic movements, navigating complex areas of the Indian socio-political landscape. His balanced, non-partisan approach to human rights and social justice has made his books essential resources for advocates of democracy.

Tributes paid to pioneer of Naxalism in Punjab, who 'dodged' police for 60 yrs

By Harsh Thakor* Jagjit Singh Sohal, known as Comrade Sharma, a pioneer of Naxalism in Punjab, passed away on October 20 at the age of 96. Committed to the Naxalite cause and a prominent Maoist leader, Sohal, who succeeded Charu Majumdar, played hide and seek with the police for almost six decades. He was cremated in Patiala.

Search This Blog