The demand for fossil oil and fossil gas is also driven sharply by the petrochemicals industry. Petrochemicals now account for 14% of oil use, and are expected to drive half of oil demand growth between now and 2050. In India, the installed capacity of polymers, one of the petrochemicals which are basically used to make plastics forms 31% of the installed capacity of all major petrochemicals. Big Oil’s Plan B is Petrochemicals! The industry plans to drive demand, keeping the world reliant on fossil fuels, by increasing the production of petrochemical-derived plastics. The fourth round of negotiations (INC 4) for a legally binding Global Plastics Treaty to rid the world of plastic pollution across the full life cycle, including reducing the production and consumption of primary plastic polymers concluded in Ottawa. Canada on April 30th. However, the countries failed to respond to the magnitude of the plastics crisis.
Beyond the gleaming pipes and sprawling factories of the petrochemical factories that manufacture plastic, lies a complex narrative of adversity, where the pursuit of profit has exacted a toll on the health of workers and communities alike. These chemicals can persist and interact throughout the plastic lifespan, potentially magnifying their health consequences on humans and animals. Read the reportthat aims to illuminate the often hidden health impacts experienced by residents due to the petrochemical and plastics industries, which consists of a case study conducted in villages of Panipat petrochemical industrial cluster.
Meanwhile, India is growing its renewable energy capacity. The official announcements have declared a target of 500 GW by 2030. But India’s renewable energy is not clean. For one, one of the biggest corporates in India’s coal business is putting money into India’s largest solar power plant. Adani Green Energy Limited(AGEL) is building a sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion, spread over 538 square kilometres. It is expected to be the world’s largest renewable energy plant when completed. Meanwhile, the other wing of Adani group, Adani Power recently won the bid for the 1.9GW Lanco Amarkantak coal plant in India.
We hope you find this newsletter useful, and we welcome your suggestions and feedback. Write to us at newsletter@cenfa.org.
The Editorial Team
Read the full issue here: Energy Matters | May 2024