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Sustainability Outlook Headlines

UK Budget Includes At Least £15 Billion Green Sovereign Bonds, Plans for “Green Curve”

The UK took a significant step closer to joining the growing ranks of sovereign green bonds issuers with the announcement in the new budget of a commitment of at least £15 billion of green gilt issuance in this financial year.

The green gilt announcement follows a commitment made last year by Chancellor of the Exchequer Rishi Sunak that the UK will issue its first green bond, with proceeds used to help enable the UK meet its 2050 net zero target and other environmental objectives. According to the new budget delivered by Sunak, a Green Gilt Framework will be published in June,... Read more..

Source: Esg Today

Sustainability-focused investment partnership selects food tech company Benson Hill as first investment for Climate Solutions Fund

ST. LOUIS, MO – March 4, 2021 – Benson Hill, a food tech company unlocking the natural genetic diversity of plants with its cutting-edge food innovation engine to create healthier, great-tasting and sustainable food and ingredient options, has been chosen as the first investment of a three-year, $125 million co-investment partnership to advance climate solutions, formed by Caisse de dépôt et placement du Québec (CDPQ) and S2G Ventures (S2G).

Through the co-investment partnership, CDPQ, a global investment group, and S2G, a leading multi-stage investment firm, are investing behind... Read more..

Source: Bensoh Hill

Magenta Power installs street lamp-integrated EV chargers at HPCL fuel stations

New Delhi: Magenta Power, a Mumbai-based microgrid power solutions provider, on Wednesday said it has installed its first set of street lamp-integrated electric vehicle (EV) chargers at Hindustan Petroleum Corporation’s (HPCL) fuel stations in Mumbai and Delhi.

It added that the ‘ChargeGrid Flare’ street lamp-integrated chargers are located at HPCL’s at Bandra-Kurla Complex outlet in Mumbai and at Niti Marg in Delhi.

“This class of EV charging points are first in India to incorporate within energy-efficient street lamp columns, which will encourage EV adoption for flexible... Read more..

Source: Economic Times

Clean Energy and Total Sign Joint Venture to Develop Carbon-Negative Fuel and Infrastructure

Clean Energy and Total Sign Joint Venture to Develop Carbon-Negative Fuel and Infrastructure
Up to $400 Million of Equity Including Credit Support Available for Upstream Renewable Natural Gas Projects and Downstream Fueling

NEWPORT BEACH, Calif. – March 4, 2021 – Clean Energy Fuels Corp. (Nasdaq: CLNE) and its largest shareholder, Total SE, today announced a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. The initial firm... Read more..

Source: Clean Energy Fuels

Kellogg Company to Achieve Over 50% Renewable Electricity Globally by the End of 2022 - one of the largest battery storage facilities in the world

BATTLE CREEK, Mich., March 3, 2021 /PRNewswire/ -- Kellogg announced today that the company will achieve over 50% renewable energy to address the electricity needs of its owned manufacturing globally by the end of 2022. The company signed a long-term wind energy virtual power purchase agreement (VPPA) in North America with Enel Green Power for approximately 360 gigawatt hours (GWh) of wind electricity annually, which is equal to 50% of the volume of electricity used across Kellogg's North American manufacturing facilities.

Kellogg's VPPA portion of the renewable energy generated by... Read more..

Source: News Room

Cashify Raises $15 Mn From Olympus Capital Asia’s Sustainability Platform

Cashify, an online platform to sell used electronic gadgets for instant cash, has raised $15 Mn from New York-based Olympus Capital Asia, a middle-market private equity firm. Olympus has made the investment through Asia Environmental Partners (AEP), its clean energy and sustainability platform.

Founded in 2015 by Amit Sethi, Mandeep Manocha and Nakul Kumar, Cashify also sells its own brand of refurbished smartphones under the brand ‘Phonepro’. The company plans to use the proceeds from this investment to further expand its footprint in India.

“We are looking forward to... Read more..

Source: BUZZ

Nokia today announced that it will reduce emissions by 50% across both its own operations and products in use by 2030

Nokia announces it will halve emissions from 2019 to 2030

The Science Based Targets initiative (SBTi) has signed off Nokia’s new targets which fulfil its commitment to align with limiting the global temperature rise to 1.5°C. The previous targets were in line with a 2°C rise
Emissions will be reduced in both Nokia products in use with customers as well as Nokia’s own operations
4 March 2021

Espoo, Finland – Nokia today announced that it will reduce emissions by 50% across both its own operations and products in use by 2030. The company’s new Science Based... Read more..

Source: Globe News Wire

WBCSD launches new Pathfinder to enable Scope 3 emissions transparency and accelerate decarbonization

Geneva, 4 March 2021: Today, the World Business Council for Sustainable Development (WBCSD) launched the Value Chain Carbon Transparency Pathfinder—a new initiative dedicated to enabling widescale exchange of primary, carbon emissions data.

WBCSD invites businesses, standard setting bodies and other decarbonization experts to join a growing business network working to develop a unique, ambitious model to decarbonize industry through data transparency, as set out in the Pathfinder’s Mission paper.

To reach net zero emissions before 2050, we need all business to measure,... Read more..

Source: WBCSD

Entire rail network to be fully electrified by Dec 2023; entire rail network to run on renewable energy by 2030: Piyush Goyal

Piyush Goyal, Union Minister for Railways, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Govt of India today said that the government is working to ensure that the entire rail network will be fully electrified by December 2023 and the entire rail network will run on renewable energy by 2030. Addressing the virtual session 'Investment Opportunities in Andhra Pradesh', during the Maritime India Summit 2021, organized by the Ministry of Ports, Shipping and Waterways, jointly with FICCI, Goyal said that India has had a glorious maritime history and are on the... Read more..

Source: Business Standard

M&G joins Powering Past Coal Alliance; plans to phase out coal

M&G plc (M&G) is today joining the Powering Past Coal Alliance (PPCA) and announcing it wants to end investment in thermal coal by 2030 for developed countries and 2040 for emerging markets.

M&G’s coal phase out plan is a key step towards achieving its goal of net zero carbon emissions across its investment portfolios by 2050 at the latest, and helping to restrict global warming to 1.5 degrees in line with the Paris Agreement on climate change.

As stewards of long term capital, actively managing the savings of millions of people around the world, M&G will... Read more..

Source: Mandgplc

FedEx Commits to Carbon-Neutral Operations by 2040

MEMPHIS, Tenn., March 3, 2021 – FedEx Corp. (NYSE: FDX), home of the world’s largest cargo airline, announced today an ambitious goal to achieve carbon–neutral operations globally by 2040.

To help reach this goal, FedEx is designating more than $2 billion of initial investment in three key areas: vehicle electrification, sustainable energy, and carbon sequestration.

This includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture, accelerating research into methods of carbon sequestration at scale, with an initial... Read more..

Source: News Room

IEA chief backs India on coal, says no exit without financial support

NEW DELHI: Lending his weight to India's stand on coal as an energy source, International Energy Agency (IEA) chief Fatih Birol on Wednesday said it won't be fair to ask developing nations to stop using coal without giving international financial assistance to make up for the economic challenge from such a move.

Developing nations like India depend on coal for 60 per cent of their energy, and coal and associated sectors are major employment generators, he said at the Energy Horizons Leadership Dialogue organised by Council on Energy, Environment and Water (CEEW).

Endorsing... Read more..

Source: Economic Times

Secretary-General urges countries to end ‘deadly addiction’ to coal

Addressing members of the Powering Past Coal Alliance, the UN chief stressed that keeping temperature rise to 1.5 degrees Celsius above pre-industrial levels is achievable over this decade.

“Once upon a time, coal brought cheap electricity to entire regions and vital jobs to communities. Those days are gone”, he said in a video message.

“Phasing out coal from the electricity sector is the single most important step to get in line with the 1.5 degree goal.”

Ending a ‘deadly addiction’
Mr. Guterres underlined action in three areas to end what he called “the... Read more..

Source: News UN

Tata Power to provide Green Power in Jharkhand to Tata Steel Limited

Tata Power, India’s largest integrated power company, announced that TP Saurya Limited, the wholly owned subsidiary of The Tata Power Company Limited, has signed a Power Purchase Agreement with Tata Steel Limited (TSL) to develop a 15 MW solar project at Jamshedpur, Jharkhand.

The energy will be supplied to TSL under a Power Purchase Agreement (PPA) valid for a period of 25 years from scheduled commercial operation date. The project is required to be commissioned within 6 months from the date of execution of the PPA.

The Plant is expected to generate an average of 32 MUs of... Read more..

Source: Tata Power

Tata Power DDL rolls out live peer-to-peer solar energy trading project

Tata Power Delhi Distribution and Australian tech firm Power Ledger on Wednesday announced the launch of the first live peer-to-peer solar energy trading project in Delhi.

Tata Power DDL and Power Ledger in collaboration with India Smart Grid Forum (ISGF) have rolled out live peer-to-peer (P2P) solar energy trading, a first-of-its-kind pilot project in Delhi, astatement said.

Tata Power Delhi Distribution (TPDDL), a joint venture between Tata Power and the government of NCT of Delhi, is a power distribution utility serving a population of 7 million in Delhi.

This... Read more..

Source: Economic Times

STT GDC India to promote sustainable development and low-carbon business practices by increasing use of renewable energy

ST Telemedia Global Data Centres (India) (STT GDC India) announced today a partnership with Avaada MHKhamgaon Private Limited, a subsidiary of Avaada Energy Private Limited (henceforth referred to as Avaada Energy) to procure 99MUs/annum (99 Million kWh) of renewable energy under a captive structure. The 99MUs would cater to the company’s facilities in the state of Maharashtra.

Today, as part of its sustainability initiatives, 34% of power for all STT GDC India’s facilities comes from renewable sources, making it one of the largest users of renewable sources among data centre... Read more..

Source: Sttele Media GDC

Cabinet approves Memorandum of Understanding between India and France on Renewable Energy Cooperation

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi was apprised of the signing of Memorandum of Understanding (MoU) between India and French Republic in the field of renewable energy cooperation. The MoU was signed in January 2021.

The objective of the MoU is to establish the basis for promotion of bilateral cooperation in the field of new and renewable energy on the basis of mutual benefit, equality and reciprocity. It covers technologies relating to solar, wind, hydrogen and biomass energy.

The MoU entails:

· exchange and training of scientific... Read more..

Source: PIB

CDP: Lack of Action on Water Risks Could Cost Companies More than $300 Billion

Climate research provider and environmental disclosure platform CDP announced the release of A Wave of Change, its 2020 global water report. The report, based on data from 2,934 companies that disclosed through CDP’s water security questionnaire in 2020, found that the cost to companies of not addressing water risks stands to reach $301 billion in lost business value. By contrast, the report estimates the cost of addressing the risk at $55 billion.

Cate Lamb, Global Director of Water Security at CDP, said:

“Water shortages are affecting more than 3 billion people worldwide... Read more..

Source: Esg Today

On Fraser’s First Day as Citi CEO, Bank Vows Net-Zero Emissions

On her first day as chief executive officer, Jane Fraser vowed Citigroup Inc. would achieve net-zero greenhouse-gas emissions in its financing activities by 2050.

The bank will produce an initial plan for reaching the goal within the next year, Fraser said in a blog post Monday. It will include specific targets for carbon-intensive sectors such as energy to reduce their emissions by 2030, she said.

“The climate crisis is among the top critical challenges facing our global society and economy,” Fraser said. “We are committed to bringing as many clients as we can along with... Read more..

Source: Bloom Berg

Power minister R K Singh advises stakeholders to enhance green energy usage

New Delhi: New and Renewable Energy Minister R K Singh on Tuesday advised industry stakeholders to enhance the use of clean energy and reduce their energy cost to become more competitive. Singh chaired a session with top management of energy intensive industrial units through video conference, a statement issued by the Bureau of Energy Efficiency (BEE) said.

BEE, under the Ministry of Power, assists in developing policies and strategies with the primary objective of reducing the energy intensity of the Indian economy.

India stands at the forefront of addressing global... Read more..

Source: Economic Times

Toyota to Raise $4.7 Billion in ESG Debt to Fund Futuristic Hub

(Bloomberg) -- Toyota Motor Corp. said it plans to sell as much as 500 billion yen ($4.7 billion) in yen and foreign currency sustainability bonds, in what would be one of the biggest offerings globally in the booming market to fund environmental and social projects.

The proceeds from the sale of what Toyota is calling “Woven Planet Bonds” will be used for projects such as the development of zero emission and assisted mobility vehicles, and increased use of renewable energy, the Japanese automaker said in a statement.

Issuance of environmental, social and governance bonds... Read more..

Source: Yahoo Finance

Gadkari asks vehicle manufacturers to build indigenous vehicles for using flexible fuel alternatives

Union Minister for Road Transport and Highways & MSME Sh. Nitin Gadkari has urged car manufacturers give priority to the indigenous production of flex engines, which can be used in vehicles using alternative fuels such as ethanol. Meeting a delegation of carmakers from the Society of India Automobile Manufacturers (SIAM)today, the Minister said that, with ethanol beginning to be easily available in the country, and more than 70% of gasoline consumption being done by two-wheelers, there is a need to develop indigenous technology for flex fuel vehicles.

Discussions were also held... Read more..

Source: PIB

After steep drop in early 2020, global carbon dioxide emissions have rebounded strongly

The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data released today, but the overall decline of about 6% masks wide variations depending on the region and the time of year.

After hitting a low in April, global emissions rebounded strongly and rose above 2019 levels in December. The latest data show that global emissions were 2%, or 60 million tonnes, higher in December 2020 than they were in the same month a year earlier. Major economies led the resurgence as a pick-up in... Read more..

Source: IEA

Shri Dharmendra Pradhan pitches for clean energy cooking fuel innovations, extends open invitation to entrepreneurs; Says clean energy is going to play a large role in fueling the growth of the Indian economy

Union Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today addressed the Clean Energy Conclave at the Global Bio India 2021, organized by Department of Biotechnology (DBT), GOI. Speaking on the occasion, he said that Clean energy is going to play a large role in fuelling the growth of the Indian economy to manage the ambitions and needs of our population. Pitching for clean energy cooking fuel innovations, he extended open invitation to entrepreneurs. The Minister said that India led by Hon’ble Prime Ministerhas taken the responsible path of sustainable... Read more..

Source: PIB

MSME Ministry is working with World Bank on a credit guarantee program to make financing accessible to unrated MSMEs

Union Minister of Micro, Small and Medium Enterprises (MSME) and the Minister for Road Transport & HighwaysShri Nitin Gadkari has invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. Rooftop Solar, he said, offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost.

Addressing a programme promoting awareness about rooftop solar (RTS) among MSMEs today, Shri Gadkari said, “I believe there is a strong business case for... Read more..

Source: PIB