Countries across the globe, including India, are pushing for transitioning to Electric Vehicles (EVs) for reducing environmental pollution levels. However, an obvious question being raised is whether lithium-ion batteries used in EVs are really environment-friendly? Not really. These batteries heavily contaminate land and water bodies when disposed. But as they say, if a challenge exists, so does a solution. To address the issue of disposal of lithium-ion batteries to an extent, BatX Energies is focussing on their recycling. The organisation is extracting these metals (Lithium, Cobalt, Nickel and Manganese) from used lithium-ion cells and bringing them back into the lifecycle of manufacturing lithium-ion batteries. In a candid conversation with TheCSRUniverse, Utkarsh Singh, Co-Founder & CEO, BatX Energies unfolds how the firm is working in sync with to the global climate goals outlined in the Paris Agreement and ensuring a low carbon economy. He also spoke about the future of fossil fuels, renewable energy adoption, and the creation of green jobs.
Excerpts from the Interview:
Q: What are your company's current sustainability commitments and how do they align with the goals of the Paris Agreement?
A. At BatX Energy, our commitment to a sustainable future is evident. We've reduced mining in lithium-ion batteries by 90%, aligning closely with the Paris Agreement's goal to limit global warming. Emphasizing a circular economy through recycling demonstrates our efficient resource use, in line with the Agreement's objectives. Supporting a greener world showcases our dedication to sustainability and broader environmental goals. By reducing emissions and endorsing eco-friendly technologies, we bolster climate resilience, a vital aspect of the Paris Agreement. Our collaborative approach likely involves partnerships, echoing the Agreement's call for global cooperation. To enhance alignment, we're integrating transparency, accountability, and increasing renewable energy adoption. This holistic commitment firmly positions BatX Energy as a significant contributor to the global climate goals outlined in the Paris Agreement.
Q. What challenges do you see businesses facing in transitioning to a low-carbon economy and what policies or support would you like to see from governments to help them overcome these challenges?
A. Challenges for Businesses in Going Green:
- High-Tech and Expensive Stuff: Using cleaner and greener technologies can be fancy but also expensive. Businesses might find it hard to use these technologies because they're still new, and it's unclear if they'll make economic sense.
- Money Matters: Going green often needs a lot of money upfront. Investing in things like solar panels or energy-efficient machines costs a bunch. Without some financial help, many businesses might say no.
- Will People Buy It? Businesses worry if people will actually buy products or services that are environmentally friendly. If customers don't care about green stuff, businesses might not bother making the switch.
- Government Rules are Confusing: Sometimes, the rules set by the government about emissions and being eco-friendly are confusing or keep changing. Businesses like clear rules so they know what's expected.
- Global Shopping Problems: Businesses get materials from all over the world. Making sure everyone in this big network follows green rules is like herding cats. It's tough!
How Governments Can Help Businesses Go Green:
- Give Money for worthy Ideas: If a business has a cool idea to be green but needs some cash to make it happen, the government can pitch in with money or tax breaks. It's like a bonus for being smart!
- Cash Rewards for Being Green: Governments can give businesses money back if they start using green tech or doing things that help the environment. It's like a thank-you gift for being eco-friendly.
- Rules guidelines: Governments should make clear and steady rules about how businesses can be eco-friendly. No one likes playing a game when the rules keep changing!
- Why Green is Great? If the government tells everyone why it's cool to buy green things, businesses will feel better about selling them. It's like when your friend says a new game is awesome, and you want to try it.
- Team Up and Work Together: Governments can help businesses work together to figure out green stuff. Like when friends help each other with homework, businesses can share ideas and make things easier.
Q. How can we address the loss and damage that countries are already experiencing from climate change?
A. Addressing loss and damage from climate change necessitates a multifaceted, collaborative approach. Internationally, countries must honour commitments under agreements like the Paris Agreement and establish mechanisms for financial and technological support. Climate finance, from both public and private sources, should be increased to fund adaptation and resilience measures in vulnerable nations. Initiatives like climate risk insurance and risk reduction measures, including early warning systems, can minimise the economic impact of extreme weather events. Capacity building in vulnerable countries, technology transfer, and legal frameworks for liability and compensation are crucial. Engaging local communities in decision-making processes and fostering community-based initiatives enhances resilience. Furthermore, research and innovation are essential for understanding regional impacts and developing effective strategies. Overall, a comprehensive strategy involves not only international collaboration and financial support but also local empowerment, technological advancement, and legal frameworks to collectively address the challenges posed by climate change and mitigate the loss and damage already being experienced.
Q. What role do you see for technology and innovation in leading a transformative industrial revolution and accelerating the development and deployment of climate solutions?
A. Technology and innovation are catalysts for significant change in addressing climate challenges. Innovations in renewable energy, like solar and wind power, reduce our reliance on fossil fuels. Advances in energy storage and smart grids enhance reliability and distribution of renewable energy sources.
Technological breakthroughs in carbon capture curb emissions from industries and power generation, while also optimizing resource usage to minimize waste. In addition, data analytics provide insights into climate patterns, aiding informed decisions.
Sustainable transportation, green buildings, and ongoing innovation further contribute to emission reduction and rapid climate solutions. This technological progress not only benefits the environment but also strengthens our economy, leading the way toward a cleaner, more resilient future.
Q. How do you see the discussions across the globe shaping the future of fossil fuels, renewable energy adoption, and the creation of green jobs?
A. The emphasis on reducing emissions, including commitments on methane and coal, heightens pressure to move away from fossil fuels. This drive aligns with urgent calls for rapid adoption of renewable energy sources, potentially creating green job opportunities in this sector. Additionally, discussions around a Global Goal for Adaptation indicate a growing awareness of the need to address climate impacts, potentially leading to increased investments in resilience sectors and job creation in related fields.
Financial commitments, such as the $57 billion fund and contributions for climate initiatives, demonstrate substantial support for transitioning to renewables and fostering green job creation. This financial backing signifies a dedicated effort toward funding climate-related initiatives, aligning with the global push for sustainable practices and job opportunities in the renewable energy sector.
