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Sustainability Outlook Headlines
Softbank scraps renewable deal with CPPIB, to continue running SB Energy with BhartiNew Delhi: Masayoshi Son led Softbank Group has abandoned its plans to divest its renewable business in India -- SB Energy Holdings – after carrying out a full blown global sale process for over a year. The Japanese technology and telecoms conglomerate have terminated its agreement to sell its 80% stake in the joint venture to Canada Pension Plan Investment Board (CPPIB), earlier this week, after disagreements over valuation, terms and conditions of the shareholder agreement (SHA) and governance rights could not be resolved between all parties concerned, said multiple people aware of the... Read more.. Date : May 14 Source: Energy World
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MNRE amends guidelines for 12,000 MW CPSU phase-II solar project schemeThe ministry of new and renewable energy (MNRE) has amended the guidelines for implementation of Central Public Sector Undertaking (CPSU) scheme phase-II for setting up 12,000 MW grid-connected solar projects with viability gap funding (VGF). According to the amended guidelines, power produced by the government producers could be used on payment of mutually agreed usage charges of not more than Rs 2.45 per unit. Earlier, it was mutually agreed usage charges of not more than Rs 2.80 per unit. Further it said that the maximum permissible VGF has been kept at Rs 0.55 crore per MW, which was... Read more.. Date : May 12 Source: Energy Infra Post
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Gujarat tops wind power capacity addition in 2020-21AHMEDABAD: Gujarat continues to be the preferred destination for setting up wind power projects in India. Despite the challenges posed by the Covid-19 pandemic, Gujarat witnessed the highest addition of wind power generation capacity in the country in 2020-21. Wind power projects with the cumulative generation capacity of 1,020.3MW were installed and commissioned in Gujarat from April 2020 to March 21. That was the highest capacity addition by any state in India during the period, shows data compiled by Indian Wind Turbine Manufacturers Association (IWTMA). Gujarat tops wind power capacity... Read more.. Date : May 12 Source: Energy World
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JSW Energy to add 2,600 MW renewable capacity by 2023Industrialist Sajjan Jindal-led JSW Energy plans to add 2,600 MW renewable power generation capacity to its portfolio by 2023. With this, the share of its renewable power will increase to 55 per cent of overall portfolio from the present 30 per cent. ADVERTISING The renewable projects -- including wind, solar and hydel -- will help the 4,600 MW power generation company in reducing its carbon footprint. JSW Solar Ltd, a wholly-owned subsidiary of JSW Energy, received Letter of Awards for setting up a total blended wind capacity of 810 MW from Solar Energy Corporation Limited (SECI). The... Read more.. Date : May 12 Source: Business Today
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Solar PLI scheme to benefit incremental demand till FY30: Ind-RaInd-Ra estimates that the allocation of INR 45 billion towards the solar modules manufacturing industry by the Ministry of New and Renewable Energy (MNRE) can benefit the sales of 20 GW from the capacity developed under the under PLI scheme across the five-year implementation period, assuming 100% localization (up to 30 GW in case of 65% localization). Also, the scheme can promote an additional 8-12GW annual solar cell/module manufacturing capacity in India. Providently this estimate assumes the base PLI rate of INR 2.25 per watt power and entirely greenfield expansion. The report depicts... Read more.. Date : May 12 Source: Saur Energy
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IEA: Renewables to Account for 90% of Global Power Capacity Increases as Growth Shatters ExpectationsThe International Energy Agency (IEA) announced the release of its Renewable Energy market Update today, highlighting the rapid growth in global renewable energy capacity over the past year, and the outlook for growth going forward. According to the IEA report, renewable sources of electricity such as wind and solar grew at their fastest rate in two decades in 2020, with capacity added during the year rising by 45% to 280 gigawatts (GW), substantially ahead of prior forecasts of a 200 GW increase. By country, China dominated the increase in 2020, responsible for 50% of global renewable... Read more.. Date : May 12 Source: ESG Today
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SEBI’s sustainability reporting norms mandate ESG overviewThe Securities and Exchange Board of India (SEBI) on Monday issued a circular notifying new disclosure norms on sustainability related reporting for the top 1,000 listed companies by market cap by FY23. Such a reporting will now be under a new business responsibility and sustainability report (BRSR) format. The decision was first made at SEBI’s board meeting on March 25. “The BRSR is a notable departure from the existing business responsibility report and a significant step towards bringing sustainability reporting at par with financial reporting,” SEBI said in the circular. Now, the... Read more.. Date : May 11 Source: The Hindu
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New €100 million EIB and State Bank of India private sector climate action initiative launched at EU-India Leaders MeetingOn the margins of the EU-India Leaders Meeting, the European Investment Bank (EIB) and the State Bank of India (SBI) have agreed to back a new initiative of €100 million for new high-impact climate action and sustainability business financing. The importance of the new Neev Fund II to accelerating India’s green recovery from COVID-19 and strengthening sustainable investment was highlighted by EIB President Werner Hoyer in discussions ahead of the formal announcement at the EU-India Leaders Meeting in Portugal. The EIB and SBI will together support the new Neev Fund II investment fund that... Read more.. Date : May 11 Source: European Investment Bank
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JSW Hydro Energy raises $707 mn from green bond saleJSW Hydro Energy’s debut green bond issue was subscribed 4x and closed at a much lower rate than initially guided, on Monday. Its $707-million 10-year green bond saw a fair amount of investor interest, even as foreign investors cut down their overall positions on Indian debt. The initial price guidance was at 4.5 per cent but finally closed at 4.125 per cent, said market sources. Majority of subscribers are high-quality long-only investors, according to them. Deutsche Bank was the lead banker on the issue. Other banks included Standard Chartered, JP Morgan and Barclays. “The extremely... Read more.. Date : May 11 Source: Business Standard
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Puducherry becomes ‘Har Ghar Jal’ UT; Punjab, Dadra & Nagar Haveli and Daman & Diu cross milestone of covering 75% of rural homes with assured tap water supplyPuducherry has become ‘Har Ghar Jal’ UT by ensuring that every rural home in the Union Territory getsa household tap connection. With this, the UT becomes the fourth State/UT after Goa, Telangana and Andaman & Nicobar Islands to provide assured tap water supply to every rural home under Union Government’s flagship programme,Jal JeevanMission. Despite challenges faced due to CoVid-19 pandemic, Jal Jeevan Mission is being implemented in partnership with States/ UTs to provide safe tap water in adequate quantity of prescribed quality on regular and long-term basis to every rural home by... Read more.. Date : May 11 Source: Press Release
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Amazon raises $1 billion sustainable bond for climate, social causesNEW YORK/LONDON (Reuters) - Amazon.com Inc issued its first sustainability bond on Monday, raising $1 billion to invest in renewable energy, clean transport, greener buildings and affordable housing. The world’s biggest company joins a growing list of debt issuers tapping the market for green and sustainable bonds, which is swelling as asset managers come under pressure from their investors to advance environmental, social and governance (ESG) causes. Global green bond issuance reached a record high of $270 billion at the end of 2020 and could reach $450 billion this year, according to... Read more.. Date : May 11 Source: Reuters
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India touches 100-GW solar goalThe approved domestic solar capacity now stands at 101.39 GW At the end of April, the installed solar generation capacity in the country was 40.5GW, the Ministry said on Twitter. Projects under construction and under bid add up to 36.48GW and 24.42GW, respectively. In total, the approved domestic solar capacity now stands at 101.39GW. “This is despite losing one year because of Covid. The progress made by India... Read more.. Date : May 10 Source: The Hindu Business Line
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Maharashtra invites bids for 500 MW solar powerThe current installed renewable energy generation capacity stands at 94 GW and about 34 GW is under various stages of implementation while 30 GW is under various stages of bidding. To increase the share of renewable energy in its supply mix, Maharashtra has invited bids for 500 megawatt (MW) of solar power. State-run Maharashtra State Electricity Distribution Company (MSEDCL) will sign a 25-year power purchase agreement (PPA) with the lowest bidder participating in the auction. Of the 39,084 MW of installed solar capacity in the country, Maharashtra houses 2,290 MW. ... Read more.. Date : May 10 Source: Financial Express
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AP housing scheme to use energy-saver tech - The innovative ‘Indo-Swiss energy efficient building technology’Visakhapatnam: The innovative ‘Indo-Swiss energy efficient building technology’ would be used in Andhra Pradesh’s housing scheme - Pedalandariki Illu (housing for all the poor). Under the initiative, 30 lakh affordable houses would constructed in the state. According to state officials, the Indo-Swiss EE technology would reduce the temperature by about two degrees inside houses and save about 20 per cent electricity. Under the ‘Building Energy Efficiency Project’, the Bureau of Energy Efficiency (BEE) through Indo-Swiss BEEP will provide training to engineers and employees of... Read more.. Date : May 10 Source: Economics Times
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PPA termination will create power crisis in state: Punjab power utilityPatiala: Punjab State Power Corporation Limited (PSPCL), in reply to a letter sent by the state government, has claimed that termination of power purchase agreements (PPAs) with independent power purchasers (IPPs) will lead to a power crisis in the state. PPAs have been blamed for high electricity tariffs in the state. Now, the view of the Punjab’s sole power distribution company could trigger a fresh round of criticism for Punjab chief minister Amarinder Singh and the Congress government in the state. The PSPCL has issued the reply after Punjab principal secretary (finance)... Read more.. Date : May 10 Source: Economics Times
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Asian Development Bank to end coal, upstream oil and gas financing - draft statement(Corrects headline and lead paragraph to specify upstream activities and last paragraph to say amount refers to 2009-2019 period) SINGAPORE, May 7 (Reuters) - The Asian Development Bank will no longer finance coal mining or oil and natural gas production and exploration, it announced in a draft policy statement on Friday, a move welcomed by environmental groups, which said it was a decade overdue. The multilateral development bank, which focuses on eradicating poverty in Asia, provided no timeline for its commitment. It also laid out conditions under which fossil fuel... Read more.. Date : May 10 Source: Reuters
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Dutch Govt Grants $2.4 Billion in Subsidies to Huge Carbon Storage ProjectThe Dutch government has granted a consortium that includes oil majors Royal Dutch Shell (RDSa.L) and ExxonMobil (XOM.N) around 2 billion euros ($2.4 billion) in subsidies for what is set to become one of the largest carbon capture and storage (CCS) projects in the world, the Port of Rotterdam said on Sunday. Shell and Exxon requested the subsidies in January together with industrial gas suppliers Air Liquide and Air Products (APD.N) for a project which aims to capture CO2 emitted by factories and refineries in the Rotterdam port area and store it in empty Dutch gas fields in the... Read more.. Date : May 10 Source: Reuters
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Electrics may not form 1 per cent of cars by ’24: HyundaiNEW DELHI: Hyundai Motors India president S S Kim has said that adoption of electrics in the Indian car market will be slow and may not cross 1% of overall sales in next three years. This is despite the special benefits and tax breaks that the green technology is receiving from the government. High cost of lithium-ion batteries and constraints on affordability and single-charge running range are among concerns that the industry faces, Kim said, while pointing out that Hyundai’s work to develop an all-new affordable electric for India is continuing at a strong pace. The sales... Read more.. Date : May 10 Source: Economics Times
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China’s Greenhouse Gas Emissions Exceeded the Developed World for the First Time in 2019Each year Rhodium Group provides the most up-to-date global and country-level greenhouse gas (GHG) emissions estimates through the ClimateDeck (a partnership with Breakthrough Energy). In addition to our preliminary US and China GHG estimates for 2020, Rhodium provides annual estimates of economy-wide emissions—including all six Kyoto gases—for over 190 countries from 1990-2019. Using our newly updated global emissions data through 2019, we estimate that in 2019, for the first time since national greenhouse gas emissions have been measured, China’s annual emissions exceeded those of all... Read more.. Date : May 10 Source: RHG
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Draft plan to tackle river pollution readyKolhapur: Developing sluice gates at barrages along the Panchaganga river, making sure service centres have in-house effluent treatment plant, setting up separate washing centres for clothes and cattle are some of the measures suggested by the Maharashtra Pollution Control Board (MPCB) in its draft report prepared on the directions of chief minister Uddhav Thackeray. Date : May 7 Source: Times of India
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GEF Capital’s India-focused clean energy fund raises most of the targeted corpusThe government has given an in-principle approval for strategic divestment along with transfer of management control of IDBI Bank Ltd, in what would be its first divestment in the banking sector. IDBI Bank’s shares have jumped over 7% on BSE and NSE. The extent of divestment by the government and Life Insurance Corporation (LIC) of India, both of which own over 94% of the bank, will be decided along with the Reserve Bank of India. India’s biggest insurer LIC, which is the promoter and largest shareholder with 49.24% stake, has management control. The Centre, which... Read more.. Date : May 7 Source: VC Circle
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Israeli firm produces solar technology in India for project in UAENew Delhi: The Israeli embassy on Thursday said a partnership has been initiated by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) through which an Israel-based company is producing an innovative robotic solar technology in India for a landmark project in the United Arab Emirates (UAE). In a statement, the embassy said the cooperation involves Israel, India and the UAE. "The embassy of Israel in India is proud to announce a first-of-its-kind trilateral cooperation between Israel, India and the UAE," it said. "Under the leadership of Ron Malka,... Read more.. Date : May 7 Source: Economics Times
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Cotton Trust Protocol used by Gap, Next, adopts TextileGenesis blockchain techMEMPHIS, TENN (April 29, 2021) – The U.S. Cotton Trust Protocol, a new science-based sustainability program that collects robust farm-level data against six key sustainability metrics, is pleased to announce that it is further enhancing the value of its program by delivering unparalleled supply chain transparency through its Protocol Credit Management System (PCMS). Recognizing the growing importance of increased supply chain visibility to brand and retail members, the U.S. Cotton Trust Protocol is joining the TextileGenesis™ platform as the world’s first sustainable cotton fiber to offer... Read more.. Date : May 7 Source: Trust US Cotton
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Germany Pushes for Mandatory Sustainability Reporting as Part of New Sustainable Finance StrategyThe German government announced the launch of a new sustainable finance strategy, aimed at mobilising capital flows to sustainable investments, mitigate climate risk and strengthen financial market stability. As part of its new strategy, the government stated that it will set requirements for sustainability reporting for companies. Additionally, the strategy promotes the redirecting of federal investments towards sustainable investment areas, and the development of a sustainability labelling system for private investors. German Finance Minister Olaf Scholz said: “Our... Read more.. Date : May 7 Source: ESG Today
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New, Free Tool Enables U.S. Companies to Set Ambitious Packaging Strategies to Reduce Plastic WasteFALLS CHURCH, Va., May 5, 2021 /PRNewswire/ -- The Recycling Partnership and SYSTEMIQ today launched Plastic IQ, a cutting-edge digital tool to help U.S. companies develop effective plastic packaging waste reduction strategies. Created with support from Walmart, Plastic IQ is a forward-looking, data-based planning tool that is aligned with industry best practices. The tool allows companies to prioritize actions to address plastic packaging waste, meet their sustainability goals, and ultimately accelerate progress toward a circular economy. Plastic IQ is available at no cost so that... Read more.. Date : May 7 Source: Pmewswire
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