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By Alastair Marsh Gautam Adani is increasing his footprint in fossil fuels, new research shows, even as the Indian billionaire vows to make his ports-to-power conglomerate carbon negative. The Adani Group is doubling its coal-fired power capacity to 24 gigawatts, plans to own, develop or operate coal mines with a combined capacity of 132 million tons a year, and is pursuing oil and gas projects, including a partnership with France’s TotalEnergies SE, according to a report published Monday by environmental nonprofit Market Forces. The Australia-based organization, a vocal critic of Adani’s Carmichael coal project in Queensland, said its analysis is based on data from across several Adani holdings. ....
Article content Taken together, these initiatives show a company that is making a significant negative contribution to global warming rather than preparing for the energy transition, said Pablo Brait, a campaigner at Market Forces. The findings may increase scrutiny on the India-based group and its founder, who is rapidly rising up the ranks of Asia’s richest people and earlier this year signed one of the continent’s biggest clean energy loans with 12 global banks. While almost all of Adani’s coal assets are in India where the government says it can’t prioritize eliminating emissions without sufficient financing from richer nations it is facing growing pressure from activists and some investors over the Carmichael project. ....
Gautam Adani is increasing his footprint in fossil fuels, new research shows, even as the Indian billionaire vows to make his ports-to-power conglomerate carbon negative. The Adani Group is doubling its coal-fired power capacity to 24 gigawatts, plans to own, develop or operate coal mines with a combined capacity of 132 million tons a year, and is pursuing oil and gas projects, including a partnership with France’s TotalEnergies SE, according to a report published Monday by environmental nonprofit Market Forces. The Australia-based organization, a vocal critic of Adani’s Carmichael coal project in Queensland, said its analysis is based on data from across several Adani holdings. ....
Gautam Adani Boosting Coal Assets Despite Pledge To Turn Carbon Neutral ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.
The company aims to build a plant at Mundra in the western Gujarat state which will convert 2 million tonnes of coal a year to PVC at a cost of US$4 billion. Adani wants to bring the project on stream within four years. Feedstock coal of about 3.1 million tonnes a year for the project will be mainly sourced from Australia and Russia. Indian critics argue that converting coal to plastic will require a high energy processing system that will also have a high carbon footprint. They say it would generate three times more carbon emissions than is generated from converting oil to plastics. They have slammed the proposal as an attempt to revive thermal coal when the world is shifting to green energy sources. ....