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India’s central bank wants cement industry to reduce carbon emissions

(Eco Business, 29 Apr 2022) India is the world’s second-largest cement producer and consumer, after China. The consumption of cement in India is only expected to grow in the coming years.

India is a country under construction. Over 250 million people are estimated to be added to the country’s urban population over the next two decades. This translates into a massive and sustained demand for building materials such as cement – an industrial sector with high carbon emissions. The Reserve Bank of India (RBI), in a recent report, has advocated for technological intervention to address these carbon emissions from the cement industry which in turn will help achieve India’s net-zero emission targets.

In November 2021, at the Glasgow Climate summit, India announced net-zero carbon emissions by 2070. The path to this goal, however, is not easy with India focusing on increasing per-capita energy consumption, ensuring energy security, and tackling rapid urbanisation.

In one of its recent bulletins, the RBI, which is India’s central bank, noted that with India aiming to reach half of its energy requirements from renewables and reduce the economy’s carbon intensity by 45 per cent by 2030, it “necessitates a policy relook across sectors, especially where carbon emission is high” and “cement industry is one of them.” However, it said, recent developments in green technologies, particularly related to reverse calcination, offer “exciting opportunities” for the cement sector.

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Eco Business, 29 Apr 2022: India’s central bank wants cement industry to reduce carbon emissions