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IEA Reports Near-Record Methane Emissions from Energy Sector
The International Energy Agency (IEA) has issued a concerning report indicating that methane emissions from the energy sector were near a record high in 2023. This revelation underscores the urgent need for intensified efforts to curb methane emissions, a potent greenhouse gas contributing to climate change.
According to the IEA report, methane emissions from the energy sector reached alarming levels in 2023, driven primarily by increased oil and gas production. The rise in methane emissions poses significant environmental and climate risks, exacerbating global warming and air pollution..
India is ranked as the third-largest solar power generator.
As per global energy think tank Ember, India became the world's third-largest solar power generator, surpassing Japan and improving from ninth place in 2023, driven by significant growth in solar generation. The report also shows the world's fastest-growing electricity source for the nineteenth consecutive year is solar. The report, highlighting 80 countries representing 92% of global electricity demand, found that solar produced a record 5.5% of global electricity in 2023. In line with this trend, India will generate 5.8% of its electricity from solar in 2023. The port has been published by ..
Global Clean Energy Tech Investment Surpasses $200B
According to the International Energy Agency (IEA), global investment in clean energy technology exceeded $200 billion in 2023, marking a significant milestone in the transition towards sustainable energy solutions. This record-breaking investment underscores the increasing momentum and commitment towards combating climate change and advancing renewable energy adoption worldwide.
The $200 billion investment in clean energy technology reflects a growing recognition of the urgency to accelerate the transition to low-carbon energy sources and mitigate the impacts of climate change. Governm..
L&T subsidiary opens new manufacturing unit in Saudi Arabia
L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.
The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..
