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Sustainability Outlook Headlines

India Ratings Revises Outlook on Rajkot (Gujarat) Solar’s Bank loans to Stable; Affirms ‘IND BBB+’

Improved generation in FY21: RGSEPL’s PLF improved by 4.21% yoy in 7MFY21 and was in line with the annual P90 estimate. The PLF sustaining at P90 level is a key rating monitorable. Low Offtake Risk: The rating reflects high revenue visibility, indicated by a long-term, fixed-price power purchase agreement (PPA) with Madhya Pradesh Power Management Company Limited (MPPMCL) for the entire capacity. In case MPPMCL refuses to buy power under the PPA, RGSEPL is allowed to sell power to third parties. If the tariff realised through third-party sale is lower than INR5.46/kWh (the contracted PPA... Read more..

Source: India Ratings

India among top 10 most affected countries in Global Climate Risk Index 2021, says environmental think tank Germanwatch

The Global Climate Risk Index 2021 analyses to what extent countries and regions have been affected by impacts of weather-related loss events (storms, floods, heat waves etc.). Human impacts (fatalities) and direct economic losses were analysed. The most recent data available — for 2019 and from 2000 to 2019 — were taken into account. The countries and territories affected most in 2019 were Mozambique, Zimbabwe as well as the Bahamas. For the period from 2000 to 2019 Puerto Rico, Myanmar and Haiti rank highest. This year’s 16th edition* of the analysis reconfirms earlier results of the... Read more..

Source: German Watch

Bandhwari plant trommels not used fully: CPCB

GURUGRAM: The Central Pollution Control Board, in a recent report submitted to the National Green Tribunal (NGT), has said the MCG has not been able to utilise the full capacity of trommels installed at the Bandhwari waste plant. Every day nearly 2,000 tonnes of solid municipal waste — 1,200 tonnes from Gurugram and 800 tonnes from Faridabad — gets added to the site, which already has about 35 lakh tonnes of untreated garbage. According to the report, 1,17,214 tonnes of legacy waste have been bio-remediated till December 31, last year. Also, of the total 33 lakh tonnes waste, only 66,982... Read more..

Source: Green Tribunal

Tech Mahindra Becomes the Only Indian Organisation Recognized amongst the ‘2021 Global 100 Most Sustainable Corporations in the World’ by Corporate Knights

New Delhi - January 25, 2021: Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions, has been recognized as the only Indian organisation amongst the ‘2021 Global 100 Most sustainable corporations in the World’ by Corporate Knights, a media, research and financial information products company which produces rankings and financial product ratings based on corporate sustainability performance. Tech Mahindra is ranked #1 in India and #72 globally in the list of World’s 100 Most Sustainable Corporations for delivering superior... Read more..

Source: Mahindra

IKEA lowers climate footprint helped by pandemic and energy-efficient light bulbs

STOCKHOLM (Reuters) - Furniture giant IKEA said it is on track to cut its emissions further after an 11% reduction in its climate footprint in the 12 months to the end of August, partly because of temporary store closures. Brand owner Inter IKEA said on Monday carbon emissions throughout the value chain - from the production of raw materials to customers’ use and disposal - fell in its fiscal year (FY) 2020 to 21.2 million tonnes of CO2 equivalent. The reduction per euro of retail sales - a measure that takes into account that government lockdowns meant most stores closed for several weeks... Read more..

Source: Truters

Delhi Govt panel brainstorms with stakeholders on EV financing

New Delhi: The Dialogue and Development Commission (DDC) of Delhi government hosted a consultation on Monday with leading financing institutions, vehicle manufacturers, delivery service providers and fleet aggregators to discuss the various financing challenges in the adoption of electric vehicles in Delhi. The meeting was held under the umbrella of Delhi EV Forum, which held its first meeting earlier on December 18, 2020. “We are committed to accomplishing chief minister Arvind Kejriwal’s vision to make Delhi the EV capital of India. Considering that lack of financing options for electric... Read more..

Source: Economic Times

BofA, Mastercard, Salesforce, IBM to Report ESG Metrics Championed by World Economic Forum

The push for a global set of ESG standards is bearing fruit. Bank of America (BAC), Mastercard (MA), Salesforce.com (CRM), and IBM (IBM) are among 55 companies that will report on environmental, social, and governance metrics championed by the World Economic Forum and its International Business Council, according to a statement from the group. The metrics are a set of 21 universal disclosures focused on people, planet, prosperity, and governance, and they are made to be comparable regardless of a company’s industry or domicile. They are aimed at bolstering transparency and helping... Read more..

Source: Barrons

Vehicle Scrappage Policy to be implemented from April 2022: State Govt approvals pending

The Indian Government has been working on a vehicle scrapping policy for some time. It is being done to help remove old and unsafe vehicles which are still plying on Indian roads. In addition to curbing tailpipe emission causing air pollution by their engines and also reduce gross fuel consumption. Nitin Gadkari, minister of road transport and highways, has approved a new “Vehicle Scrappage Policy” to incentivise user to scrap old vehicles and buy new ones. The ministry released a statement; “The Minister approved the policy of deregistration and scrapping of vehicles owned by Government... Read more..

Source: Financial Express

Green tax to be imposed on older vehicles soon, to clean up the environment by phasing out unfit and polluting vehicles

The Union Minister for Road Transport and Highways Sh. Nitin Gadkari has approved a proposal to levy a “Green Tax” on old vehicles which are polluting the environment. The proposal will now go to the states for consultation before it is formally notified. The main principles to be followed while levying the Green Tax are : Transport vehicles older than 8 years could be charged Green Tax at the time of renewal of fitness certificate, at the rate of 10 to 25 % of road tax; Personal vehicles to be charged Green Tax at the time of renewal of Registration Certification after 15 years; Public... Read more..

Source: PIB

ndia’s first self-repairing two-wheeler! Komaki electric bikes launched

A new electric two-wheeler manufacturer, Komaki, has entered the scene. KLB Komaki, the parent company, has dabbled in driveshaft as well as bearings for more than 32 years. The need to make our country pollution free as well as to contribute to the “Green India” vision lead to starting Komaki in 2016. While so far there have been more than nine low-speed electric scooter launches by the company from inception, in 2021 it will be mostly about high-speed two-wheelers. When we say two-wheelers, the brand has got products like the M5 which not only promise a higher range but also have a self-... Read more..

Source: Financiai Express

CSIR-CMERI unveils ‘Aqua Rejuvenation Plant’ which facilitates an Organic Farming Model through treated Waste Water

CSIR-Central Mechanical Engineering Research Institute, Durgapur unveiled the first-ever WasteWater Treatment Technology Model which purifies Waste Water for Irrigation/Farming purposes. Prof. (Dr.) Harish Hirani, Director, CSIR-CMERI inaugurated the ‘Aqua Rejuv’ along with Shri SubhenduBasu, Additional District Magistrate (Zila Parishad), Paschim Bardhaman and Additional Executive Officer, Paschim Bardhaman Zila Parishad today at CSIR-CMERI colony in Durgapur (West Bengal). During his inaugural speech Prof. Hirani said that he wanted the solution for the society from Carbon Dioxide,... Read more..

Source: PIB

Hold back imposition of basic customs duty on solar equipment in Budget, demand developers

New Delhi: Solar power developers in the country have demanded that the government should hold back the imposition of basic customs duty (BCD) on solar equipment for the time being in the forthcoming budget. They fear that this could derail the government's ambitious target of having 175GW renewables by 2022, requiring an investment flow of Rs 1.75 lakh crore. According to industry estimates, as much as Rs 1.75 lakh crore investment is required to bid out 35GW of renewable energy capacity in the country. About 50 GW of clean energy is under implementation, while India has already installed... Read more..

Source: Economic Times

NTPC and SJVN in fray to buy PTC’s wind power assets

NEW DELHI : State-run NTPC Ltd and SJVN Ltd have placed bids to buy out PTC India Ltd’s 289MW wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh, said two people aware of the development. With a potential enterprise value of around ₹2,000 crore, the sale is part of the country’s largest electricity trader PTC India Ltd’s plans to exit its wind power business. These seven assets are owned by PTC India’s subsidiary PTC Energy Ltd. This deal comes against the backdrop of India’s electricity demand registering an all-time high of 187.3GW on Friday morning. KPMG was... Read more..

Source: Live Mint

JinkoSolar Begins Construction On 20 Gigawatt Solar Cell Factory

JinkoSolar, one of the largest solar module producers in the world, is ramping up its solar cell production tremendously. It is building a 20 gigawatt solar cell factory that is expected to be fully operational by the end of 2021. The factory is being built in Chuxiong, Yunnan Province, China. The first 10 gigawatt (GW) half of the factory is supposed to be online by May 2021. If 20 GW sounds like a lot to you, that’s because it is. In fact, it’s such an enormous production capacity that this would make it the largest solar cell factory in the world, according to JinkoSolar (and I have no... Read more..

Source: Clean Technica

ISA to consider solar bank plan

The steering committee of the International Solar Alliance (ISA) is set to meet shortly to clear the decks for the World Solar Bank (WSB), which is expected to be headquartered in India, said two people aware of the development. India may become its lead member by taking a 30% stake in it through a $600 million equity commitment. This would be the first multilateral development bank (MDB) headquartered in India and comes even as Beijing has taken the lead in creating the Asian Infrastructure Investment Bank and the New Development Bank (NDB). ISA and Brickworks Analytics has prepared a... Read more..

Source: Live Mint

Socially-Conscious Loans Attract Europe’s Alternative Lenders

(Bloomberg) -- Investor demand for socially responsible projects is slowly pushing its way into Europe’s private credit markets, kicking off a shift in a booming area of company finance. Linking loan terms to environmental, social and governance goals is relatively established in investment-grade corporate debt, but still comparatively rare in the $850 billion universe of alternative credit. Barings LLC and Tikehau Capital SCA, so-called direct lenders that provide financing to mid-size firms, are among those now embracing such packages. That may just be the start as more lenders realize... Read more..

Source: bnnbloomberg

An ‘ocean fund’ aims to scale up circular economy - Singapore-based Circulate Capital dedicate half of its $106 million “ocean fund" to India

From discarded debit cards to packaging material,plastic waste is choking up our streets and oceans. Covid-19 and lockdowns made it worse as throwaways increased while collections got disrupted. India generates around 10 million tonnes of plastic waste a year, 40% of which is not even collected, let alone being recycled. This is not just a massive problem but also an opportunity to create value from waste, with tech innovations. The scale of this prompted Singapore-based Circulate Capital to dedicate half of its $106 million “ocean fund" to India. The fund aims to reduce plastic waste... Read more..

Source: Live Mint

Air Quality Commission ropes in top technical institutions to set up a Decision Support System The System will use Artificial Intelligence(AI) to help improve the air quality over targeted sectors of Delhi /NCR

The Commission for Air Quality Management (CAQM) in NCR and adjoining areashas begun the process of setting up a Decision Support System (DSS) having a web, GIS and multi-model based operational and planning decision support tool. This tool will help immensely in capturing the static and dynamic features of the emissions from various sources. It will have an integrated framework to handle both primary and secondary pollutants using chemical transport model. The system will also be able to handle the source specific interventions with the framework to estimate benefits of interventions and... Read more..

Source: PIB

No two-year blanket extension in FGD timelines for power plants: MoEF

New Delhi: The environment ministry is not in favour of a blanket two-year extension to coal-fired plants for implementing emission control measures but is considering appropriate relaxations in view of pandemic and less capacity of local manufacturers, environment secretary R P Gupta said. He said the environment ministry may consider a maximum extension of two years to eligible power plants. The power ministry has in a letter to Gupta recommended a two year extension in current deadline for 448 operational thermal generating units. “The ministry of power wants a blanket two-year... Read more..

Source: Economic Times

Zypp plans 5k battery swapping stations in 100 cities in 3 years

New Delhi: The electric vehicle startup Zypp plans to set up 5,000 battery swapping stations for two-wheelers and three-wheelers across the nation over the next three years. The last-mile delivery company, now operational in six cities, has set up 50 battery swapping stations across Delhi NCR, and Jaipur. In 2021 the company will expand to 30 cities including Mumbai, Pune, Hyderabad, Chennai, Bengaluru, Chandigarh, Lucknow, Meerut, Indore, Bhopal and several other Tier-2 cities, said Akash Gupta, co-founder and CEO of Zypp Electric. “From 30 cities, we plan to expand to 100 cities in the... Read more..

Source: Economic Time

Peak power demand hits record 185.82GW hinting at economic revival

India’s electricity demand touched a record 185.82 gigawatts (GW) on Wednesday morning, crossing the previous record of 182.88GW witnessed on 30 December. The development hints at a recovery in economic activity after massive disruptions in the wake of the covid crisis. Energy consumption is linked to higher overall demand in the economy. “The peak demand for power crossed 1,85,820 Megawatt at 9:35 AM on today. This is the highest ever, a record," power and new and renewable energy minister Raj Kumar Singh said in a tweet. “The demand (and supply) of power in January (up to 19.01.2021) has... Read more..

Source: Live Mint

NITI Aayog Releases Second Edition of India Innovation Index

ITI Aayog, along with the Institute for Competitiveness, today released thesecond edition of the India Innovation Index in a virtual event. The report examines the innovation capabilities and performance of the states and union territories.The first edition of the index was launched in October 2019. The India Innovation Index 2020was released by NITI Aayog Vice Chairman Dr Rajiv Kumar, in the presence ofMember (Health) DrVK Paul, Member (Agriculture)DrRamesh Chand, CEO Amitabh Kant, Adviser (Science and Technology) Neeraj Sinha, andInstitute for Competitiveness Chair Dr Amit Kapoor. The... Read more..

Source: PIB Gov

MP set up Highest Number of Solar Pumps Under GKRA Scheme

Madhya Pradesh set up the highest number of solar pumps under the PM Garib Kalyan Rojgar Abhiyan, per state Renewable Energy Minister Madhya Pradesh has set up the highest number of solar pumps in the country under the PM Garib Kalyan Rojgar Abhiyan, state New and Renewable Energy Minister Hardeep Singh Dang has said. “A total of 3,224 solar pumps were set up against the target of 3,490 in 24 districts of the state to achieve 92.4 percent success under the scheme, which is maximum in the country,” an official release quoting Dang stated. The scheme was launched by the central government... Read more..

Source: Saur Energy

Nel says 'green' hydrogen could be as cheap as fossil alternative by 2025

OSLO, Jan 21 (Reuters) - Norway’s Nel, a maker of zero-emission hydrogen technology, will expand its operations in 2021 in order to make its products more cost competitive, leading to a significant loss for the year, it said on Thursday. Hydrogen, currently mainly used in oil refining and to produce ammonia for fertilisers, is lauded as a potential future green fuel of choice as it is free from greenhouse gas emissions when it burns. Nel’s goal is to enable customers to produce so-called green hydrogen at $1.5 per kilo in 2025, a cost level where it can outcompete fossil alternatives, down... Read more..

Source: Reuters

Women's group set up solar panel making unit in Maha village - The Indian Institute of Technology (IIT) Bombay has provided technical support for the project

Wardha: A women's self-help group has set up a solar panel manufacturing unit at a village here in Maharashtra, as part of a project aimed at encouraging women to take up jobs and sustain their livelihood, officials said. Talking to on Thursday, Wardha Zilla Parishad's Chief Executive Officer Dr Sachin Ombase claimed it to be the first such unit set up by a rural women's self-help group in the state. "The project is aimed at helping women in rural areas towards sustainable employment and to raise their standard of living," he said. The unit, set up by the Tejaswi Solar Energy Backward... Read more..

Source: Economic Time