Why Industries Need Climate Solutions?

ClimateAngels | Feb 01, 2023

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In India, corporations of all sizes are actively adopting climate solutions and preparing for the net-zero transition, aiming to achieve it by 2070.

According to a study conducted by BCG, several Indian corporate houses have pledged to become net zero or carbon neutral by 2050 or before, including Vedanta, JSW Group, Aditya Birla Group and Mahindra.

Climate technology is a rapidly growing industry that is making great strides in decarbonizing a range of industries and reducing the negative impact of human activities on the environment.

It is becoming increasingly important to adopt sustainable practices and reduce greenhouse gas (GHG) emissions. Climate tech solutions offer a way to tackle this global challenge by providing innovative and environmentally friendly technologies that help reduce the carbon footprint of various industries.

Climate Tech: Decarbonizing Industries

One of the key ways in which climate tech is decarbonizing industries is through the adoption of green/renewable energy sources. The widespread use of fossil fuels such as coal, oil, and gas has resulted in large amounts of carbon dioxide (CO2) and other GHGs being released into the atmosphere.

This has had a significant impact on the Earth’s climate, causing global temperatures to rise and leading to climate change. Climate tech provides a solution by harnessing the power of the sun, wind, water, and geothermal energy, which are clean and renewable sources of energy that do not produce emissions.

Another way in which climate tech is decarbonizing industries is through energy efficiency. By improving the energy efficiency of buildings, transportation, and other systems, companies can reduce their carbon footprint and lower their energy bills at the same time.

For example: LED lighting, smart building management systems, and insulation are energy-efficient technologies. These technologies can help companies save energy and reduce emissions, and they also improve the overall energy efficiency of the industry as a whole.

Carbon Capture, Utilization, and Storage (CCUS or CCS)

Carbon capture, utilization, and storage (CCUS or CCS) is another key technology in the fight against climate change.

CCUS involves capturing carbon dioxide emissions from industrial processes and storing them in underground reservoirs. This reduces the amount of GHGs that are released into the atmosphere and helps to mitigate the effects of climate change.

Companies in the oil and gas, cement, and power sectors are leading the way in CCS, with many investing in large-scale projects to demonstrate the viability of this technology.

In addition to decarbonizing individual industries, climate tech is also having a positive impact on the economy as a whole.

What Is The Impact of Green Energy and Climate Tech?

The growth of the renewable energy sector has led to the creation of new jobs, while energy efficiency measures are reducing energy bills and freeing up resources for other uses.

The widespread adoption of climate tech is also helping to reduce dependence on fossil fuels, which are becoming increasingly expensive and difficult to access. This will provide a much-needed boost to the global economy and help to mitigate the effects of climate change.

Climate tech is playing a crucial role in decarbonizing industries and mitigating the effects of climate change.

From the adoption of renewable energy sources to the use of energy efficiency measures and carbon capture and storage, the technology is helping to reduce emissions, improve energy efficiency, and drive economic growth.

As the global community continues to work towards reducing greenhouse gas emissions and mitigating the effects of climate change, climate tech will play a vital role in achieving this goal.