Sustainability Outlook Headlines

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..

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..

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..

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..

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..

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..

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..

Aviva becomes the first major insurer worldwide to target Net Zero carbon by 2040

It will cover Aviva’s scope 1, 2 and 3 emissions, and include shareholder assets and policy holder assets where Aviva has decision-making control.

Progress towards this target will be tracked through annual, public reporting. Aviva is setting out a pathway to achieve its goal with immediate actions and targets for 2025, 2030 and 2040. It will sign up to the internationally recognised Science Based Targets initiative so its work can be validated. Aviva uses active ownership to drive companies to reduce their carbon emissions. Aviva supports the transition to low carbon and will... Read more..

Hershey Announces Bold 2030 Goals To Reduce Environmental Footprint And Address Climate Change

HERSHEY, Pa., March 1, 2021 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced new commitments to advance its environmental progress and contribute to global climate action. Hershey has set ambitious new goals to reduce its global emissions in line with the global best practice of the Paris Climate Agreement, to limit global temperature rise to 1.5°C.

In 2019, Hershey committed to the Science Based Targets initiative (SBTi) that it would audit its operations and develop targets to reduce its greenhouse gas emissions in line with the best available climate science. As a... Read more..

BAT launches ESG Week to amplify sustainability progress

LONDON, March 1, 2021 /PRNewswire/ -- BAT has launched a dedicated week aimed at highlighting its goals and achievements around its enhanced Environment, Social and Governance (ESG) ambitions. Across its digital channels, the company will devote the entire week to sharing its sustainability story with the outside world.

In 2020, the company announced its new corporate purpose to deliver A Better Tomorrow™ by reducing the health impact of its business, putting sustainability front and centre. Since March last year, BAT:

Launched the industry's first ever Human Rights report... Read more..

PTT Group and ReNew Power deal is called off

The proposed deal for Thailand’s energy major PTT Group buying a stake in ReNew Power Ventures Pvt. Ltd has been called off, said two people aware of the development. This comes against the backdrop of ReNew Power announcing a merger with Nasdaq-listed special purpose acquisition company (SPAC) RMG Acquisition Corp. II on Wednesday at an enterprise value of about $8 billion. SPACs are publicly-traded shell companies with no commercial operations, which help unlisted companies go public through mergers, skipping the time-consuming conventional IPO route. ReNew Power, founded by Sumant Sinha... Read more..

Italy Joins Growing Sovereign Sustainable Finance Market With New Green Bond Framework

Italy’s Ministry of Economy and Finance (MEF) announced the publication of a new Green Bond Framework (BTP Green), enabling the issue of green bonds by the country. According to the MEF, the publication of the framework is aimed at illustrating Italy’s environmental strategy, and outlines the core mechanisms of green bond issues, including eligible use of proceeds, and monitoring the environmental impact of expenditures. Eligible categories for expenditure under the new framework include Renewable electricity... Read more..