Sustainability Outlook Headlines

15-year-old 3-wheelers to be banned in Punjab

Bid to control air pollution in the State

The Punjab government has decided to ban diesel and petrol powered three-wheelers which are more than 15-year-old across the State in a bid to control air pollution. “The Department of Environment and Climate Change has decided to replace them with electric-CNG vehicles,” said K.S. Pannu, director “Tandrust Punjab Mission” on Wednesday. “It has been observed that a large number of three-wheelers which are more than 15 years are operating in Punjab but as per Rule 68C of the Punjab Motor Vehicle Rules, 1989, these cannot operate beyond 15... Read more..

EQT, Temasek launch $500 mn renewable energy platform

European alternative asset manager EQT and Singapore’s state investment firm Temasek Holdings Pte. on Wednesday announced that they have jointly set up O2 Power, a $500-million renewable energy platform in India. O2 Power will target more than four gigawatts (GWs) of installed capacity across solar and wind projects, comprising both greenfield projects, as well as mergers and acquisitions, the companies said in a joint statement. This would be EQT Infrastructure’s first investment in India. EQT is investing in the platform through its EQT Infrastructure IV fund. With this transaction, EQT... Read more..

Adani Group Aims To Become World's Largest Solar Power Company By 2025: Gautam Adani

Adani Group chairman Gautam Adani said on Wednesday that his company's main goal is to become the world's largest solar power company by 2025 and largest renewable power company by 2030. "Given our goal to become the world's largest solar power company by 2025 and the world's largest renewable power company by 2030, we feel confident that we will be able to lead one of the fastest global carbon offsets. We are looking forward to this transformation," said Mr Adani in a LinkedIn post. "The age of renewable energy has dawned upon the world faster than most could have anticipated. India has... Read more..

Sustainability Outlook partners with Energy and Environment Foundation for World Future Fuel Summit and Expo

World Future Fuel Summit & Expo 2020 scheduled from February 15 to 17, 2020 will focus on ‘Sustainable Future Fuel for Global Climate Change Challenges, where you may share... Read more..

Govt to invite bids for reallocation of subsidy for 2,000 e-buses in February

The Centre will invite proposals from state transport departments for reallocation of central subsidy for 2,000 electric buses under its Fame II scheme to promote electric mobility, but will not allow participation of cities that defaulted in the first round, people aware of the development said. The government is expected to issue an expression of interest next month under the ongoing second phase of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (Fame India), but it is likely to be open to only state utilities that have awarded tenders or are close to... Read more..

In talks with Indian firms to issue green bonds: Luxembourg Stock Exchange CEO

The Luxembourg Stock Exchange is in talks with Indian conglomerates to issue green bonds and tap into India's green finance market, its CEO Robert Scharfe has said. “Some Indian banks have tapped into the market and a number of companies are considering this. Bond market is the easiest because companies have ratings which are known to the investors,” he said. Green bonds are debt instruments issued to fund green projects or those that have a positive environmental or climate impact. The bourse launched the Luxembourg Green Exchange (LGX), a dedicated platform for green, social and... Read more..

Amazon India's Electric Delivery Rickshaws to be Manufactured by NOIDA-based Kalinga and Pace

Noida-based Pace Electric Vehicles and Kalinga Ventures are among the lesser-known EV makers who will power Amazon’s delivery system as part of the e-commerce major’s effort to be carbon neutral by 2040, sources said. Amazon’s decision to buy vehicles from small manufacturers would help these brands get bigger, improve the quality of electric vehicles and have a pan-India presence, one of the sources said. During his recent India visit, Amazon CEO Jeff Bezos tweeted, “Hey, India. We’re rolling out our new fleet of electric delivery rickshaws. Fully electric. Zero carbon. #ClimatePledge.”... Read more..

Study finds shock rise in levels of potent greenhouse gas

Efforts to reduce levels of one potent greenhouse gas appear to be failing, according to a study. Scientists had expected to find a dramatic reduction in levels of the hydrofluorocarbon HFC-23 in the atmosphere after India and China, two of the main sources, reported in 2017 that they had almost completely eliminated emissions. But a paper published in the journal Nature Communications says that by 2018 concentrations of the gas – used in fridges, inhalers and air conditioners – had not fallen but were increasing at a record rate. Matt Rigby, from Bristol University, who co-authored the... Read more..

Adani Wilmar to recycle 100% of plastics used by it in 3 years

Fortune brand owner Adani Wilmar Ltd is aiming to recycle 100 per cent of the plastics used by the brand in the next three years, Angshu Mallick, Deputy CEO, Adani Wilmar, has said. “We use about 22,000 metric tonne (MT) of plastic in packaging out of which 90% of our packaging material such as HDPE Jars, PET bottles, Edible Oil Pouches etc. are 100% recyclable. We intend to collect and recycle 30 per cent of the total plastic consumed by us by March 31, 2020. In the second year, we target to recycle around 70%, while by the third year, complete 100 per cent collection and recycling... Read more..

India 5th among countries with corporate commitments to science-based targets: Report

India has ranked 5th among the countries surveyed for corporate commitments to science-based targets (SBT), ahead of Germany and Sweden, according to a report by a non-profit organisation released here on Monday. The report found that investors are demanding better disclosure of climate change risk from Indian companies which has spurred better disclosure from India Inc. The Carbon Disclosure Project (CDP) India annual report, which examines carbon reduction activities of companies, shows a whopping 58 Indian companies, 98 per cent of the 59 firms surveyed between 2018 and 2019, have board... Read more..

Mitsui & Co. to make electric vehicle motors in India

Japanese trading house Mitsui & Co. will produce electric vehicle motors in India in partnership with Taiwanese motor manufacturer Teco Electric and Machinery, likely becoming the first Japanese company to make EV motors in the country. Teco is the world's fourth-largest industrial motor maker, with annual sales of around $1.63 billion. The Taiwanese company has also made components for Taiwan's high-speed trains. The two companies will build a 1.5 billion yen ($13.6 million) plant in Bangalore through a joint venture 40% owned by Mitsui and 60% by Teco. The 5,500-sq.-meter factory is... Read more..

53% Indians ready to pay upto Rs 1 lac more for EV: Report

Indian consumers’ interest for alternate powertrain technology continues to expand as fewer people want traditional ICE for their next vehicle. According to one of the findings of Deloitte’s 2020 Global Automotive Consumer Study, consumers across geographies continue to move away from ICE vehicles. Globally, this preference for hybrid electric vehicles (HEV) is led by Japan at 47 per cent, followed by India. 51 per cent Indian consumers prefer ICE vehicles (gas/diesel) for their next purchase while 25 per cent Indian consumers vouch for HEV and 15 per cent go for battery electric vehicles... Read more..