Why India’s $2.2B carbon capture bet is about trade, not just climate

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illuminem summarises for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: India’s $2.2 billion investment in Carbon Capture, Utilization, and Storage (CCUS) technologies aims to decarbonize five key industrial sectors, steel, cement, power, refining, and chemicals
• This initiative is designed to overcome the high costs and scalability challenges associated with CCUS, which remains commercially unproven at large scales

🌍 Why it matters for the planet: India’s focus on CCUS not only aligns with climate goals but also addresses trade competitiveness, particularly in light of the EU’s Carbon Border Adjustment Mechanism (CBAM)
• The strategy could help Indian industries reduce carbon tariffs, maintaining their competitiveness in the global market while lowering emissions

⏭️ What’s next: India’s carbon capture initiative represents a model where climate action is linked to industrial policy and trade competitiveness
• It is projected to shape the global carbon economy by 2030

💬 One quote: "Decarbonization will not wait. Other nations are building on the intersection of climate and trade, not merely on climate ambition." – Phil De Luna, Contributor

📈 One stat: India’s industrial sectors covered in the CCUS plan are responsible for a substantial share of the country's CO₂ emissions, making them critical targets for decarbonization efforts

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