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Dastur Energy recognized with the Decarbonization Excellence Partner Award

Jul 1, 2024 by Sujata 0 Comments #5th edition of the Global Refining & Petrochemicals Congress (GRPC 2024)., #Atanu Mukherjee, #carbon capture, #carbon management., #CEO Dastur Energy, #clean energy technology company, #clean energy transition, #Dastur Energy, #Decarbonization Excellence Partner" award, #Downstream India Excellence Awards 2024., #Global Refining & Petrochemicals Congress (GRPC 2024), #Governing Council of The Global Refining & Petrochemicals Congress (GRPC 2024), #Hotel Le Meridien, #hydrogen, #India, #Indian downstream Oil & Gas industry, #industrial decarbonization, #industry leaders, #Innovation, #M. N. Dastur & Co. (P) Ltd., #management, #New Delhi, #NITI Aayog, #North America, #organizations, #research, #technoeconomic, #Technology, #the Middle East, #the United States Department of Energy, #thought leadership, #United States Trade, #United States Trade and Development Agency., #utilization & sequestration

DE's proud moment

01st July 2024: Dastur Energy, a leading clean energy technology company, has been named winner of the “Decarbonization Excellence Partner” award by the Governing Council of The Global Refining & Petrochemicals Congress (GRPC 2024) & Organizers of the Downstream India Excellence Awards 2024.

The Award recognizes Dastur Energy’s significant contributions towards enabling industrial-scale clean energy transformation by offering deep expertise across the industrial decarbonization value chain including – renewable energy, clean fuels like hydrogen, production process changes, and carbon capture, utilization & sequestration. Dastur Energy’s team of industrial decarbonization, technoeconomic, regulatory, and project risk experts deliver – a cost-effective strategic approach that is designed to deliver significant business impact while enabling clean energy transition and carbon management.

The Award, held in association with the Global Refining & Petrochemicals Congress (GRPC 2024), recognizes industry leaders and organizations that have demonstrated excellence in thought leadership, management, research, technology, innovation, and overall operations in the Indian downstream Oil & Gas industry.

Atanu Mukherjee, CEO Dastur Energy, expressed his gratitude for the award, stating, “We are honoured to receive this prestigious award which recognizes our commitment to developing innovative solutions that enable the transition to a sustainable future.”

The award was announced and conferred during the ceremony and networking reception held on June 27, 2024, at Hotel Le Meridien, New Delhi, as part of the 5th edition of the Global Refining & Petrochemicals Congress (GRPC 2024).

Dastur Energy, a subsidiary of M. N. Dastur & Co. (P) Ltd., has been successfully delivering industrial-scale clean energy transition and carbon management solutions for companies in the ‘hard to abate’ sectors in North America, the Middle East, and India. In addition, the company has been closely associated as a partner and thought leader enabling pioneering projects funded by governmental entities like – NITI-Aayog, the United States Department of Energy, United States Trade and Development Agency.

business

Climate finance critical in climate change solutions, India has opportunity to play a critical role, says Dastur Energy

Jun 7, 2024 by Sujata 0 Comments #climate change solutions, #Climate finance, #Dastur Energy, #Dastur Energy Pvt Limited, #G20 global alliance, #G20 nations, #Mr. Atanu Mukherjee, #Mr. Mukherjee

Mumbai, 7th June, 2024: Recognizing the fact that G20 nations contribute to more than 80% of worldwide emissions, with India being the 3rd largest contributor only behind USA & China, Dastur Energy Pvt Limited which is a prominent player in the clean energy sector, has outlined its views on how the country can influence global climate change efforts. While proactive engagement and collaboration across developed and emerging economies are crucial for combating climate challenges, the Texas-based clean energy technology leader believes that India will have to play a larger role by shaping strategies and climate financing alternatives that are relevant across the international climate action landscape.

Presenting the firm’s views on how India holds a distinct opportunity to influence climate finance measures globally, Mr. Atanu Mukherjee, CEO, President, of Dastur Energy Pvt Ltd. elaborated, “The climate change battle requires massive financial commitments, with estimates suggesting that the worldwide transition to net zero needs about $275 Trillion over the next 27 years, or about $10 trillion a year. For a country like India though, more than $2.5 trillion of investments will be required by 2030 to fulfil its ambitious climate mitigation goals of reducing the country’s carbon emissions and intensity by 1 billion tonnes and 45% respectively.

This translates to roughly $170 billion worth of investments required per year till 2030, even as India is able to fulfil only about 25% of its current need across different sectors. While climate related foreign direct investment (FDI) has soared over the past decade, India needs to tap into its domestic financial institutions to raise funds and channel overseas resources into its fight against climate change. We believe that there are several opportunities in this regard and India needs to innovate new-age financial solutions, with the country’s commercial banks and development financial institutions playing a pivotal role in accelerating the transition to net-zero carbon emissions.”

Dastur Energy also highlights the increasingly important role of Corporate India in this journey, stressing the need for greater participation in the domestic carbon market, potentially leveraging a cap-and-trade system for carbon credits to incentivise companies to reduce their carbon emissions. As Mr. Mukherjee noted, “An increased focus on supporting technology and innovation is the need of the hour in the Indian context.

This needs to be supported by increased investments in renewables, wide-spread adoption of sustainable practices and implementation of energy-efficient technologies & systems across carbon-intensive industries and sectors. Parallelly, more work can be done in enhancing carbon pricing, mobilizing development banks and encouraging private finance for better climate action support. The aim should be to amplify collaboration both domestically and with the international community; aligning goals across nations and improving access to funds so as to achieve equitable distribution amongst developing nations.”

As part of the G20 global alliance, India undoubtedly has significant responsibilities in climate change mitigation and will have to envisage ingenious climate finance solutions that can coalesce the financial support necessary to meet its 2070 net-zero target. The country will have to leverage its participation in larger global forums and summits to share its unique challenges and strategies, taking care to address its own climate change imperatives while also helping shape global policies.

Dastur Energy remains convinced that India holds a distinct opportunity to influence global climate finance measures by virtue of the country’s multidimensional strategies in creating opportunities and resolving challenges in the climate financing space. Considering its overall experience and steadfast commitment to climate action, India could emerge as a major force in global efforts and serve as a beacon for the global community in the battle against climate change.