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Sustainability Outlook Headlines
EU member states call for joint action as energy prices surgeSeveral EU member states on Monday called for joint European action to fight a record rise in energy prices, but unity on what to do was elusive. France and Spain led the charge at a meeting of eurozone finance ministers in Luxembourg, on the eve of an expected presentation of proposals of some short-term solutions from the European Commission. "The gas price has massively and brutally increased over the last weeks," said French Finance Minister Bruno Le Maire as he arrived for the talks. "It is time to have a European response" to the price shock, Le Maire said,... Read more.. Date : Oct 6 Source: Economic Times
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First ever electric cars rally held in Mumbai to combat pollutionIn a first initiative of its kind, an all-electric cars rally was held in Mumbai on Saturday as part of the 'Green Mumbai Drive-2021', to reduce pollution in the country's commercial capital, officials said. The 110-km long rally saw the participation of over 30 electric cars manufactured by various Indian and international companies and was flagged off by Environment Minister Aditya Thackeray, who himself drove an electric car. Organised by Adani Electricity Mumbai Ltd. (AEML), and Autocar India, the rally was intended to create awareness among people about motoring with... Read more.. Date : Oct 6 Source: Economic Times
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Union Minister Dr Jitendra Singh says, India is committed to curtail carbon emissions in the Antarctic atmosphereUnion Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today addressed the International Conference commemorating the signing of the Madrid Protocol on Environmental Protection to the Antarctic Treaty. The Conference was attended virtually by Prime Minister of the host country Spain Pedro Sanchez, Prime Minister of New Zealand JacindaArdern, Prime Minister of Australia Scott Morrison, Ministers and delegates representing... Read more.. Date : Oct 5 Source: PIB
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R K Singh asks THDCIL, NEEPCO to bid for solar, wind projectsThe world's major economies must do more at the upcoming U.N. COP26 climate summit in Scotland to show they are serious about wanting to tackle global warming and heed the warnings of young activists, policymakers said on Saturday. COP26 President Alok Sharma said there was renewed urgency in the climate debate following preparatory talks in Milan where thousands of youth activists, including Greta Thunberg, urged governments to match words with action and stump up billions of dollars to wean the world off fossil fuels. "We had a very constructive set of discussions and... Read more.. Date : Oct 5 Source: Economic Times
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CEAT announces completion of 26% stake buy in Cleanwin EnergyTyre maker CEAT Ltd on Monday announced it has completed the acquisition of 26 per cent stake in Cleanwin Energy, for which it had signed a pact with Yellowstone Clean Energy LLP last month. Cleanwin Energy owns, operates and maintains a captive wind power generating plant in Maharashtra. The RPG Group company plans to move to 50 per cent renewable power in the next three years. "We are happy to announce the completion of the acquisition of 26 per cent stake with Cleanwin Energy," Chief Financial Officer CEAT tyres Kumar Subbiah said in a release. Date : Oct 5 Source: Economic Times
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Our doors are wide open for EV players like Tesla: Tamil Nadu ministerTamil Nadu saw the closure of the Ford India unit on its soil in September. Despite this, its industries minister Thangam Thennarasu substantiates his contention that the state is still one of the most investor-friendly in India, with mumbers. In an interview with Shine Jacob, Thennarasu said the state is expected to see investment worth Rs 35 trillion by 2030 and already has projects worth Rs 20,000 crore since the new government took charge in May. Edited Excerpts: What changes are you seeing in the investment climate since the new government took charge? In August, we... Read more.. Date : Oct 5 Source: Business Standard
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Adani Green acquires SB Energy India for $3.5 billionAdani Green Energy (AGEL) on Monday said it has completed the acquisition of SB Energy India in an all-cash deal for which definitive agreements were signed on 18 May 2021. With this deal, SB Energy India is now a 100 per cent subsidiary of AGEL. Earlier, it was a 80:20 joint venture between Japan-based SoftBank Group and Bharti Group. “The acquired portfolio comprises 100 per cent sovereign rated counterparties. Average tariff for the portfolio is Rs. 2.75 per unit,” according to the company press release. Date : Oct 5 Source: Economic Times
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India asks Coal India to invest in electric vehicles, charging podsIndia's coal ministry has asked state-run Coal India to diversify its interests to areas such as electric vehicles and charging stations, according to an agenda document on the ministry's website. "Coal India must diversify its business and must explore prospects in sunrise industries electric charging pods, electric vehicles etc," the coal ministry said in a document titled "Ministry of Coal's agenda for 2021-22". Coal India is the world's largest coal mining company by production and accounts for over 80% of India's output of the fuel. Date : Oct 5 Source: Economic Times
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Gautam Adani says $50-70 bn investment planned across energy chainBillionaire Gautam Adani on Monday said his infrastructure conglomerate will invest between USD 50-70 billion in organic and inorganic growth opportunities across the entire energy value chain over the next decade. Speaking at an industry event, he said the port-to-energy group will invest over USD 20 billion in renewable energy generation alone. "Over the next decade, we will invest over USD 20 billion in renewable energy generation. Our overall organic and inorganic investments across the entire green energy value chain will range between USD 50 billion and 70 billion,"... Read more.. Date : Oct 5 Source: Business Standard
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McDonald's targets net zero emissions by 2050, from meat to energyMcDonald's Corp on Monday set a new target to cut global greenhouse gas emissions to net zero by 2050, from the beef in its burgers to the light bulbs in its restaurants. The burger chain also said it was working with the nonprofit Science Based Targets initiative (SBTi) to revamp its existing climate change targets. It aims to lower absolute emissions by about a third for both its suppliers and its nearly 40,000 company-run and franchised restaurants around the world by 2030. "We're trying to send a signal to our partners, to our investors, to our suppliers, to other... Read more.. Date : Oct 5 Source: Economic Times
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Electricity (Transmission System Planning, Development and Recovery of Inter-State Transmission Charges) Rules 2021 promulgated by Power MinistryThe Union Ministry of Power has promulgated the Electricity (Transmission System Planning, Development and Recovery of Inter-State Transmission Charges) Rules 2021. This paves the way for overhauling of transmission system planning, towards giving power sector utilities easier access to the electricity transmission network across the country. At present, generating companies apply for long-term access (LTA) based on their supply tie-ups, while medium-term and short-term transmission access is acquired within the available margins. Based on LTA application, incremental transmission... Read more.. Date : Oct 4 Source: PIB
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India promises to engage constructively at COP 26 and evaluate bridging proposals to conclude Paris rulebookRepresenting India virtually at the Pre-COP 26 meeting held in Milan, Italy from 30th September to 2nd October 2021, Union Minister for Environment, Forest and Climate Change,Shri Bhupender Yadav assured that India will engage constructively at COP 26 and evaluate bridging proposals to conclude the Paris rulebook, which can be done by delivering on the climate finance promises of the developed countries. Date : Oct 4 Source: PIB
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All vehicles in the country should run on 100% ethanol: Nitin GadkariUnion Road Transport and Highway Minister Shri Nitin Gadkari inaugurated National Highway projects totalling a length of 527 km, worth Rs 4,075 crore at Ahmednagar district in Maharashtra today. Bhumipoojan and dedication of these projects to the nation was held in a programme organized at Kedgaon in Ahmednagar by the National Highways Authority of India (NHAI). Shri Gadkari said, water, electricity, transportation and communication are important aspects for development of the country. In order to eradicate poverty, hunger and unemployment in the country as well as for the welfare... Read more.. Date : Oct 4 Source: PIB
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India's 450GW target listed in US 'Energy Compact' as climate goalIndia and its 450 GW renewable energy target figure prominently in the US government's 'Energy Compact' and is part of its climate ambitions formally submitted to the United Nations at the September 22-23 high-level dialogue on energy. 'Energy Compacts' are voluntary commitments from UN member states, setting out actions planned to advance clean, affordable energy for all by 2030 and net zero emissions by 2050. Over 130 Energy Compacts have been submitted so far by a range of stakeholders, including India and the United States. Citing the September 2021 agreement... Read more.. Date : Oct 4 Source: Economic Times
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K'taka switches to 'electric mode', to run 1,500 e-buses in next 3 yearsThe Karnataka government is all set to acquire 1,500 electric buses (E-buses) in the next three years to ply in the state capital. The transport department is including a fleet of 390 electrical buses this year. The government has decided to replace the scrapped buses with e-buses. Every year as many as 400 buses are scrapped in the state. Along with the push from the Central government, the Bengaluru Metropolitan Transport Corporation (BMTC) considering the increasing pollution levels and skyrocketing fuel prices have decided to acquire e-buses. Date : Oct 4 Source: Economic Times
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Commission on Air Quality Management mandates the introduction of a robust online mechanism for monitoring dust mitigation measures in National Capital RegionIn a move to curb and abate the air pollution levels arising from the Construction and Demolition (C&D) activities in the National Capital Region (NCR), the Commission for Air Quality and Management (CAQM) will periodically review compliance of dust mitigation measures at Construction & Demolition sites in the National Capital Region. Directions have been issued by CAQM to the State Governments of Haryana, Uttar Pradesh, Rajasthan and GNCTD to develop an online mechanism through a web portal for monitoring compliance of dust mitigation measures by the project proponents. ... Read more.. Date : Oct 4 Source: PIB
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Stubble burning: Farmers can generate Hydrogen for EVsWith the countdown to the monsoon withdrawal officially started, apprehension of bad air quality days has started. And, amongst the many sources that cause pollution is 'parali' (stubble burning) by farmers in Punjab and Haryana. Now, the farmers can look forward to not just earning from this agri-waste but also help in the generation of hydrogen. Researchers from Pune have developed a unique technology for direct generation of Hydrogen from agricultural residue. This innovation can promote eco-friendly hydrogen fuel-cell electric vehicles by overcoming the challenge of... Read more.. Date : Oct 4 Source: Economic Times
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IREDA to assist NEEPCO in developing renewable energy projectsIndian Renewable Energy Development Agency (IREDA) on Saturday inked an MoU with North Eastern Electric Power Corporation to assist in developing renewable projects and raising funds. Under the Memorandum of Understanding (MoU), IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency & conservation projects for NEEPCO, IREDA said in a statement. IREDA will assist North Eastern Electric Power Corporation (NEEPCO) in developing an action plan to create and acquire renewable energy projects for the next 5 years. IREDA Chairman &... Read more.. Date : Oct 4 Source: Economic Times
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M&S resets plan a with pledge to cut its carbon footprint by a third by 2025 as part of its commitment to be fully net zero by 2040M&S has reset its Plan A sustainability programme, with a singular focus on becoming a net zero Scope 3 business across its entire supply chain and products by 2040. The retailer has set out a detailed roadmap to net zero using science-based targets aligned to the UN ambition of limiting global warming to 1.5c. The ambitious target would see M&S achieve full net zero ten years ahead of the government’s UK-wide strategy and will require rapid decarbonisation of its business to cut its carbon footprint by a third by 2025, from a 5.7million tonne 2017 baseline. The retailer... Read more.. Date : Oct 4 Source: Marks and Spencers
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NTPC REL Signs First Green Term LoanNTPC Renewable Energy ltd (REL) a 100 per cent subsidiary of NTPC ltd, has signed its first Green Term Loan agreement of Rs. 500 crores at a very competitive rate with a tenor of 15 years with Bank of India on 29th September 2021 for its 470 MW Solar Projects in Rajasthan & 200 MW Solar Project in Gujarat. NTPC REL currently has renewable project portfolio of 3,450 MW of which 820 MW projects are under construction and 2,630 MW projects been won for which PPAs are pending to be executed. Date : Oct 1 Source: PIB
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Constitution of an Expert Committee on Sustainable FinanceInternational Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. India aspires to be a frontrunner in climate action, which is evident in its commitment towards its intended Nationally Determined Contributions under Paris Agreement. Raising financial resources for climate change adaptation and mitigation actions of this scale needs active participation of international investors. IFSCA... Read more.. Date : Oct 1 Source: PIB
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India likely to propose transnational solar grid at upcoming COP26India is likely to make a proposal for a global solar power grid to address climate change goals at the upcoming COP26 negotiations. It also proposes to announce a major jump in its renewable energy target, closer to 450GW. The plan, called 'One Sun, One World, One Grid' (Osowog) - a transnational solar power grid - will be projected as a game changer to help meet climate change goals. ET has gathered that high level discussions are on regarding the proposal. "The fundamental concept behind Osowog is to develop a transnational grid that will be laid all over the globe to... Read more.. Date : Oct 1 Source: Economic Times
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Ola Electric raises over $200 millionOla Electric Mobility Pvt. Ltd has raised more than $200 million in a round led by SoftBank and Falcon Edge, among others, at a valuation of $3 billion, bolstering its plans to enter new vehicle categories. The electric scooter maker plans to use the capital to develop other EV platforms such as electric motorcycles, mass-market scooters and an electric car, it said in a statement on Thursday. “India has the talent and the capability to build technologies of the future for the industries of the future for the entire world. I thank our existing investors and welcome new ones... Read more.. Date : Oct 1 Source: Live Mint
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BP leads $25 Mn funding round in EV ride-hailing start-up BluSmartBP Ventures has made its first direct investment in India by pumping in USD 13 million in integrated EV ride-hailing and charging company BluSmart. It led a USD 25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors, the firm said in a statement. "BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years," it said. The statement, however, did not say the funding will... Read more.. Date : Oct 1 Source: Business Standard
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Sterling and Wilson Solar bags Rs 1,500-crore order for waste-to-energy projectSterling and Wilson Solar on Thursday said it has bagged an order worth Rs 1,500 crore for its waste-to-energy project from a developer of energy assets in the UK and Europe. According to the official press release, the facility will process 23.2 tonnes of non-recyclable solid municipal waste per hour, diverting over 185,600 tonnes of waste each year. It will generate 19.6 MW of energy, enough to power over 30,000 homes and will also provide heat that can be used by nearby businesses. Date : Oct 1 Source: Economic Times
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