Crucial Decade To Pick Pace On Energy Transition

Net Carbon Vision aims to help organisations bring a tectonic shift to achieving their carbon neutrality goals

By Suneeti Ahuja-Kohli

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Mohamed Shah Nowfal, Founder, Net Carbon Vision; Chairman, GCV Group
Mohamed Shah Nowfal, Founder, Net Carbon Vision; Chairman, GCV Group

Published: Mon 29 May 2023, 10:20 AM

Last updated: Mon 29 May 2023, 10:37 AM

The competing demands between climate action and the continued need for energy are complex. Add to this the collective bid to achieve carbon neutrality in a couple of decades — 2050 in the case of the UAE — makes the task of business transformation a little daunting. However, several consulting companies such as Net Carbon Vision (NCV) are rising to the occasion and helping firms, big and small, new and existing, pick pace and set the ball rolling to achieve climate-related targets.

A subsidiary of Global Commodity Venture (GCV), Net Carbon Vision envisions building sustainable solutions and products for global companies.

“NCV has been created and launched to create innovative products and consultancy services in the area of sustainability and decarbonisation, helping industries benchmark, set, and achieve their net zero targets using AI and IoT technologies covering all scopes towards emission monitoring and analysis,” says Mohamed Shah Nowfal, Founder, Net Carbon Vision; Managing Director, Global Commodity Ventures Group.

The firm is currently focussed on big industrial sectors like resources industries, such as cement, metal, mining, power generation, oil and gas, and major sources of emission and performs optimisation.

“We focus on building digital twin solutions for performance and asset monitoring to carbon capture storage equipment which will be installed in the existing plants as well in the new green field projects. We are in discussion with a few OEMs to capture CO2 from industrial gases. As a part of the low carbon fuels initiative, we are in the early stages of discussion with H2 (Green / Blue) generation OEMs and bringing their process technology expertise to the UAE and other parts of the MENA region and building digital twin solutions,” adds Nowfal.

Spending by companies on environmental, social and governance (ESG) and sustainability consulting is set to more than double over the next five years to a record $16 billion, states a new report by research firm Verdantix. “We understand this domain very well. Our core business is in coal shipping, logistics and coal trading, which enables us to understand the fossil fuel properties. We are well exposed to coal calorific value and its emissions, and we also handle metal slags for cement industries which is one of the alternative fuels for low carbon emission,” notes Nowfal.

Cement plants are among the major contributors to emissions globally. However, NCV has been in the early stage of planning to help its clients in Africa reduce the environmental impact by Afforestation carbon removal methods.

Talking about the impediments to achieving climate targets, Nowfal highlights a few aspects. “Lack of awareness by companies on the extent of environmental impact caused by their businesses, for one, is the biggest challenge. Companies are oblivious to the fact that the time to act is now. The poor vision results in lack of dedicated investments in near and long term sustainability initiatives.”

The absence of a coherent policy on climate targets is another roadblock. “This is one of the major showstoppers for the majority of the corporates operating in various geographies. Different countries have different policies, which adds to the indecisiveness and delay in achieving targets.”

“A lot of companies fail to adopt technologically powered solutions. They lack digital maturity and suffer from poor IT, OT and ET sub-ecosystems, lack of data strategy, lack of cloud adoption and of drive to democratise and ensure responsible usage of AI, Analytics and Data at large for sustainability initiatives.”

The marketplace, at this point, lacks superior solutions and services, he notes. “We need solutions that can steer organisations towards sustainability as per the overall national/worldwide plan and commitments. And lastly, even though renewable and green energy solutions are becoming popular in various geographies, the initial investment required is still not significantly low to attract companies to pursue this path.”

NCV aims to help organisations centralise and take action to bring about a tectonic shift in this space.

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