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RC Bhargava, chairman of Maruti Suzuki India Ltd. in Noida, India, on Tuesday, June 21, 2022. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Maruti Suzuki India Ltd., the automaker that sells every other car on the nation’s roads, believes electric vehicles aren’t the answer to reducing carbon emissions in the world’s third-biggest releaser of greenhouse gases -- at least not in the immediate future. India’s largest automaker reckons that vehicles powered by hybrid technology, natural gas and biofuels present a better path toward a cleaner future than electric cars considering the nation generates about 75% of its electricity from dirty coal, Chairman R.C. Bhargava said in an interview. “Talking about electric cars without looking at the greenness of the electricity generated in the country is an inadequate approach to this … [Read more...] about Maruti Suzuki bets on hybrids over EVs in clean shift

Thousands of ageing solar panels sited throughout China could trigger an environmental crisis over the next two decades, according to industry experts. China has more solar power plants than any other country, operating roughly twice as many solar panels as the U.S. with no plans on how to dispose of the old panels that break down. “It will explode with full force in two or three decades and wreck the environment, if the estimate is correct,” Tian Min, general manager of a Chinese recycling company, told The South China Morning Post . “This is a huge amount of waste and they are not easy to recycle.” There could be 20 million metric tons of solar panel waste, or 2,000 times the weight of the Eiffel Tower, by 2050 according to Lu Fang, the secretary general of solar power at the China Renewable Energy Society. Solar panels use hazardous materials, like sulfuric acid and phosphine gas, in the manufacturing process that makes them hard to recycle. Solar panels also have … [Read more...] about Old Solar Panels Causing An Environmental Crisis In China

- A + A (June 27): German utility RWE AG's head has warned that a windfall tax on electricity generators in Britain would make it and other power firms reconsider their investment decisions in the country, the Financial Times reported on Sunday. RWE, Germany's largest power producer, last year had announced a plan to invest as much as 15 billion pounds ($18.39 billion) in green technologies and infrastructure in Britain by 2030. Since then, energy companies have profited from high prices following Russia's invasion of Ukraine, and British finance minister Rishi Sunak has said that the government was looking at profits in the power generation industry, when asked about a possible windfall tax. RWE's Chief Executive Officer Markus Krebber on Sunday reiterated the firm's investment commitment in Britain for now, but said his company will reconsider if things change. "If the environment changes — and part of that is of course the regulatory framework and political … [Read more...] about RWE to rethink UK investments if it proceeds with tax on power firms- FT

In July 2021, the European Commission did something that no other major governing body had ever attempted: It tied trade policy to climate policy. Reaching the European Union's goal of cutting net greenhouse-gas emissions by 55% by 2030 will require the EU to reduce emissions both at home and beyond its borders. To this end, the Commission's Fit for 55 initiative, a package of proposals aimed at meeting the bloc's emissions-reduction target, includes a carbon border adjustment mechanism (CBAM) -- an import tax designed to corral other countries into tackling climate change. The CBAM would tax imported goods sold in EU markets on the basis of their carbon content (the emissions required to produce them), which depends on their material and energy inputs. The proposed levy is intended to address so-called carbon leakage, which occurs when businesses in the EU move production to non-member countries with less stringent emissions rules. In other words, Europe would no longer ignore the … [Read more...] about EU carbon tax hurts poorer states

Foxconn Chairman Young Liu with Prime Minister Narendra Modi. (Image courtesy - Twitter) Hon Hai Technology Group (aka Foxconn) Chairman Young Liu met Prime Minister Narendra Modi to discuss the company's future in India. The visit comes at a time when the Taiwanese electronics contract manufacturing major plans to expand its electronics manufacturing capacity in India, including in semiconductors and electric vehicles (EVs). The government welcomes Foxconn 's plans for the country, Modi said in a Twitter post on June 23. Glad to meet Mr. Young Liu, Chairman, Foxconn. I welcome their plans for expanding electronics manufacturing capacity in India, including in semiconductors. Our push for EV manufacturing is in line with our commitment of Net Zero Emission. pic.twitter.com/sC1AoGWn9c — Narendra Modi (@narendramodi) June 23, 2022 Foxconn is considering to set up an EV manufacturing unit in India through its subsidiary Foxtron. The Tamil Nadu government is … [Read more...] about Foxconn Chairman Young Liu meets Prime Minister Narendra Modi amid chip, EV ambitions