Sustainability Outlook Headlines

Honeywell Targets Carbon Neutrality by 2035

In April of 2021, we took the next step toward committing to helping the environment. We pledge to be carbon neutral in our facilities and operations by 2035, and to continue to investigate and evaluate carbon emissions up and down our supply chain and to quantify them and to address them where possible. “Honeywell has a long history of improving our own environmental and sustainability profile while providing innovative products and services that improve our customers’ profiles as well,” said Honeywell chairman and CEO Darius Adamczyk. “We will continue to invest in our plants and in new... Read more..

Union Cabinet approves Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights)

Taking another important step towards the vision of 'Atmanirbhar Bharat', the Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, approved the Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) with a budgetary outlay of Rs. 6,238 crore. The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. It is designed to create complete component ecosystem in India and make India an integral part of the global supply... Read more..

Waaree Energy Storage System raises USD 2 mn in seed funding

New Delhi, Apr 7 (PTI) Waaree Energy Storage System (WESS) on Wednesday said it has raised USD 2 million (about Rs 15 crore) in seed funding from an investor. WESS is a wholly-owned subsidiary of solar PV module manufacturer Waaree Group. "High-tech energy storage division of...WAAREE Group - WESS has raised USD 2 million in seed funding from an HNI investor amid the pandemic," WESS said in a statement. The company however did not disclose any details with respect to the investor. The proceeds will enable the company to strengthen energy storage capacities and bolster its footing across... Read more..

Tata Power Solar doubles manufacturing capacity of cells, modules at Bengaluru unit

New Delhi: Tata Power Solar, country’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, on Wednesday said it has doubled its manufacturing capacity of cells and modules to 1,100 MW at its Bengaluru facility. It added that the expansion was a result of increased demand that the company saw for its solar modules, as well as an expected rise in demand due to the government’s Atma Nirbhar Bharat initiative. “We are happy to expand our production capacity to meet the increased demand for our products. Our 31 years of experience in providing solar products has helped... Read more..

IMF Launches Climate Change Indicators Dashboard

The International Monetary Fund (IMF) today launched a new Climate Change Indicators Dashboard—an international statistical initiative to address the growing need for data in macroeconomic and financial policy analysis to facilitate climate change mitigation and adaptation. The Dashboard is a single platform that brings together experimental climate change indicators that allows comparison across countries. The indicators have been developed in cooperation with international organizations and other agencies including the Organisation for Economic Co-operation and Development (OECD), the... Read more..

India getting job done on tackling climate issues: US envoy John Kerry

The United States' Special Presidential Envoy for Climate, John Kerry, on Tuesday lauded India for "getting the job done on climate" and said it is a world leader already in deployment of renewable energy. Kerry is on a four-day visit to India, from April 5 to April 8, during which he will meet representatives from the Union government, the private sector and NGOs. "India's global leadership has been critical across a range of issues including delivering COVID vaccines to world. I'm particularly grateful that India is getting the job done on climate... pushing the curve. You're... Read more..

Flipkart partners with EDEL to accelerate deployment of EVs

Flipkart, India’s homegrown e-commerce marketplace, today announced that it has partnered with Mahindra Logistics Limited (MLL) as one of its key logistics partners to help fast track deployment of electric vehicles across its logistics fleet in the country. Flipkart has committed to 100% electric mobility in its logistics fleet and will deploy more than 25,000 electric vehicles (EVs) by 2030. Mahindra Logistics will play a significant role in working with various OEMs and help Flipkart’s sustainable transition to EVs. With a shared commitment and vision towards sustainable business... Read more..

National Average Power Purchase Cost of ₹3.85/kWh Set for Open Access Solar Projects

The Central Electricity Regulatory Commission (CERC) has set the national Average Power Purchase Cost (APPC) for open access at ₹3.85 (~$0.052)/kWh. The APPC would be applicable during the financial year (FY) 2021-22 or until further orders for deviation settlement regarding open access and captive wind and solar generators fulfilling regional entities’ requirements. In a recent order, the Commission observed that for wind or solar generators selling power under open access, which is not accounted for renewable purchase obligation (RPO) compliance of obligated entities, and for captive... Read more..

Coal ‘integral part’ of energy requirement, India tells UN

India has been focusing on renewable energy in a big way as part of its commitment to move towards cleaner fuel to address climate change concerns but coal will continue to be an “integral part” of the country’s energy requirements for its “developmental needs”, India told the UN climate body in its biennial report on greenhouse gas (GHG) inventory. The report, submitted recently to the UNFCCC, however, underlined that the country would use coal “responsibly” through clean coal initiatives and said its per capita coal consumption was still lower than most developed countries and other... Read more..

JetBlue Ties Senior Bonuses to ESG Goals, Launches 2040 Net Zero Target

JetBlue announced a series of new sustainability initiatives, adding a new link between executive compensation and ESG performance, as well as introducing new emissions reduction targets, including a goal to achieve net zero carbon emissions by 2040. According to JetBlue, the company’s senior leaders’ 2021-2023 long-term incentive plan (LTIP) compensation will be tied to an index that determines payout based on a series of key ESG metrics, including percent reduction in company emissions per available seat mile (ASM), volume of sustainable aviation fuel used, spend toward underrepresented... Read more..

India delays anti-pollution rules for coal power plants again

India’s environment ministry delayed anti-pollution guidelines for coal-fired power plants further, extending the compliance deadline by as long as two years. Plants located close to populated cities, including capital New Delhi, will now have to meet the standards by December 2022, a seven-year extension from the original plan to cap toxic emissions, including particulate matter, sulfur dioxide and oxides of nitrogen, according to a March 31 notification. Units close to critically-polluted areas have until... Read more..

Rs 75,000 cr disbursement to discoms under special liquidity scheme

State-owned power distribution companies (discoms) ha­ve received Rs 75,000 crore bet­ween June 2020 and March 2021 under the special liquidity scheme announced by the central government last year. Under the scheme, which is now closed, government-owned lenders Power Fina­nce Corporation (PFC) and Rural Electrification Corpo­ration (REC) extended special one-time loans to discoms to clear their dues to the power generating companies.

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