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Gautam Adani meets Boris Johnson and pledges $ 70 billion for green energy

 


The chairman of the Adani group, Gautam Adani, met British Prime Minister Boris Johnson on Tuesday, October 19 at the Global Investment Summit and announced that his group would commit $ 70 billion for the energy transition via solar and others.

Expressing his gratitude after meeting Johnson, Adani said: “Honored to meet UK Prime Minister Boris Johnson at the Global Investment Summit.” Adani advocated for fair and pragmatic policies in tackling climate change and recommended setting practical targets and agendas, reported Economic times.

Guarantor of green hydrogen, he said this is a game-changer and that the group’s green energy portfolio will expand to become one of the largest producers of green hydrogen in the world. Calling for inspiring leadership in synchronizing global climate action, he said the Adani group will engage $70 billion for the energy transition via solar, wind and H20.

$ 20 billion investment in renewable energy production

The businessman said that policymakers should consider the voices of vulnerable people when developing climate strategies and mitigation measures. He added that over the next decade, his group companies in the energy and utilities sector will invest more than $20 billion renewable energy production.

“The aggregate organic and inorganic investment across the green energy value chain will be between $ 50 billion and $ 70 billion. More than 70% of its planned investments until 2030 will be devoted to sustainable technologies, ”he said.

Do actions speak louder than words?

The Adani conglomerate has interests in mining, gas, energy operations and airports and is responsible for some hotly contested coal mining projects. The Carmichael coal mine in Australia has sparked protests around the world. Indeed, in July Adani admitted it violated the environmental conditions of the Carmichael Coal Mine, once again clearing an area surrounded by potential koala habitat with no guarantee of wildlife protection promised.

However, this is not all. The group wants to build a $ 4 billion factory in India that would use the coal from that mine to make plastic. Adani Enterprises has said in submissions to Indian authorities that the plant will use 3.1 million tonnes of coal per year to make PVC.

Coal is the most polluting energy source, responsible for about 45% of energy-related carbon dioxide emissions.

Read also: UIDAI will host the first ‘Adhaar Hackathon 2021’ and draw technical solutions from young minds

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