SEPTEMBER, 202419In an exclusive interaction with Industry Outlook, Kishor Nair, CEO ­ IPP Business, Avaada Group, shares his insights on the current state of global carbon emissions, examining key trends that underscore both progress and challenges in achieving net-zero targets. Kishor is an accomplished leader in the energy sector, bringing nearly four decades in Business Development, Project Management, and Strategic Planning. Under his leadership, Avaada Energy has grown to over 4 GW in operational capacity, with Kishor playing a pivotal role in policy advocacy and infrastructure projects across industry giants like NTPC, Bechtel, and Reliance.INDUSTRY INSIGHTSTHE PATH TO NET ZERO ACHIEVING CARBON NEUTRALITY BY 2050Kishor Nair, CEO ­ IPP Business, Avaada GroupWhat is the current global landscape regarding carbon emissions, and what recent trends indicate progress or setbacks in achieving net-zero targets?The COVID-19 pandemic temporarily disrupted a decade-long trend of rising global GHG emissions. However, emissions rebounded post-pandemic, reaching 53.8 Gt CO2eq in 2022, a 1.4 percent increase from the previous year. According to the UN Environment Programme's Emissions Gap Report 2023, emissions in all sectors except transportation have surpassed pre-pandemic levels. This rebound highlights the resilience of carbon-intensive activities and underscores the need for more aggressive mitigation strategies. Regionally, emissions have slowed in major contributors like the US and Europe but have increased in Asian countries. This divergence indicates that while some regions are progressing, others are still on a growth trajectory, complicating global efforts to peak emissions by 2025.Recent technological advancements and policy measures offer some hope. The rapid deployment of renewable energy, improvements in energy efficiency, and innovations in carbon capture and storage (CCS) are critical to bending the emissions curve. However, the path to net zero is fraught with challenges. The geopolitical landscape, economic uncertainties, and varying national commitments create a complex environment for achieving global climate goals. The upcoming COP29 conference will be crucial in galvanizing international cooperation and enhancing national commitments to bridge the emissions gap.From the perspective of renewable power generators, which key sectors contribute the most to carbon emissions, and what strategies are being implemented to reduce their carbon footprint?Electricity and Heat Generation: Electricity and heat generation remain the largest contributors to global GHG emissions due to their dependence on coal, oil, and natural gas. According to the International Energy Agency (IEA), global CO2 emissions from energy combustion and industrial processes reached a record 37.4 billion tonnes (Gt) in 2023, marking a 1.1 percent increase over the previous year.Kishor NairCEO ­ IPP Business
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