Categories: Business

Mukesh Ambani advocates clean and affordable energy, emphasizes on the use of technology


Mukesh Ambani pushes for clean, affordable energy; tech to decarbonise

new Delhi. Mukesh Ambani, chairman of Reliance Industries Limited (RIL) and India's richest businessman, advocating clean and affordable energy, said that better technology is needed for better carbon balance. He was addressing the seminar of FII Investment Institute through video link. Those who listened to him also included Prince Abdulaziz bin Salman al-Saud, the Energy Minister of Saudi Arabia, the world's largest oil exporter.

Ambani said that now there is a need to provide efficient, clean and affordable energy. He said that the way I see that in the progress that mankind has made in the midst of industrial revolutions, we have imbalanced the carbon cycle. Now the time has come to use technology to correct the deteriorating balance of carbon and adopt the right carbon cycle. He emphasized the need for technologies that can recycle carbon dioxide. The statement by Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), becomes very significant considering that his company operates the world's largest oil refinery plant complex in Jamnagar, Gujarat.

He said that I think, where we are, if we take a clean sheet of paper and adopt such technologies that we can complete the energy cycle. We can implement new technologies, especially biochemical photosynthesis. Instead of treating carbon dioxide as a burden, we can make it a raw material. "It is not mandatory for us to implement zero carbon emissions, but I think we should adopt carbon recycling again," he said. Ambani said that for those in the energy business, decarbonization is not a big issue, but to complete the right cycle for zero carbon emissions.

Ambani said that energy is an essential requirement for all eight billion people on this earth. In such a situation there is a need to provide efficient, clean and affordable energy. We have to do this in a responsible way. This is business. We should not be confused about it thinking about clean and unclean. He said that no solution can be right for everyone. He said that the important thing is that energy has to be accepted equally. This means, everyone has to provide access to clean energy to improve their quality of life at affordable cost.

Ambani's company has purchased a significant amount of crude oil from Saudi Arabia for processing at its refinery plant in Jamnagar. The company is in talks to sell a fifth of its oil-to-chemical business for $ 15 billion. Ambani said that the new supply of energy on the basis of economy is for the prosperity of the planet. Only after these two can there be prosperity for companies and shareholders, and I think that where we are today, we will have no other option but to meet these challenges in the coming decades to complete the carbon cycle . Saudi sovereign fund PIF has bought a 2.3 percent stake in Ambani's digital company Jio Platforms Limited.

This post was published on June 27, 2020 9:17 pm

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