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Sustainability Outlook Headlines
TPG Rise Climate raises $5.4 billion for largest climate-focused private equity fundTPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, today announced the first close of $5.4 billion in subscriptions to its inaugural fund. With the fund’s first close, TPG Rise Climate is bringing together a unique blend of capital from some of the world’s largest institutional investors and over 20 leading companies to invest in the entrepreneurs and businesses building climate solutions around the world. TPG Rise Climate has set a hard cap of $7 billion in total capital commitments and expects to hold a final close in the fourth quarter... Read more.. Date : Jul 28 Source: Business Wire
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HOLCIM LAUNCHES ECOPLANET GLOBAL RANGE OF GREEN CEMENT; ECOPlanet cement offers at least 30% lower carbon footprint with no compromise on performanceHolcim launches ECOPlanet, its global range of green cement delivering at least 30% lower carbon footprint with equal to superior performance. ECOPlanet is available in Germany, Romania, Canada, Switzerland, Spain, France, and Italy and will be distributed across 15 countries in 2021, with the objective of doubling its market presence by the end of 2022 to enable low-carbon construction at scale. Jan Jenisch, Chief Executive Officer: “I am excited to introduce ECOPlanet, the latest in our range of green building solutions. Driving the circular economy, our ECOPlanet range includes... Read more.. Date : Jul 28 Source: HOLCIM
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New Climate Action Pathway for Finance Sets out Roadmap for Markets & Real EconomyThe UN Climate Change Secretariat has published a climate action pathway for finance which sets out a roadmap for financial markets and the real economy to align with a sustainable and resilient net-zero emissions future. Finance has a critical role to play in enabling and accelerating the transition to net-zero economies in accordance with the Paris Agreement goal of limiting global temperature rise to 1.5 degrees Celsius and adapting to the inevitable impacts of climate change. This role includes pricing carbon to ensure that polluters pay the true cost of their impacts and... Read more.. Date : Jul 28 Source: UNFCCC
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Andhra Pradesh: NREDCAP to set up ultra high speed charging points at IOC filling stations along highwaysAs part of promoting the use of electric vehicles (EVs), the Andhra Pradesh government has decided to set up charging points at around 1,000 petrol bunks off the highways across the state. The New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) is planning to sign an MoU with Indian Oil Corporation (IOC) for setting up charging points at its filling stations mainly along the state and national highways. The state government has already announced a scheme for its employees to buy electric scooters at a subsidy and on EMIs. The state under its policy... Read more.. Date : Jul 27 Source: ET Energy World
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Centre mulls incentives for Tesla, provided carmaker sets up manufacturing in IndiaIndia is open to considering lower import duty and other incentives for Tesla if the company decided to manufacture its cars in the country, a senior government official told ET. Tesla has approached the government to seek reduced customs duty on its cars, reasoning that they should be treated as electric vehicles and not luxury automobiles. "We will be open to consider, especially if they will set up a manufacturing place here," said the official, who did not want to be identified. Any decision on this count will be sector specific and not for a particular company. ... Read more.. Date : Jul 27 Source: ET Energy World
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Tata Power set to reduce emissions in alignment with Science Based Targets initiative (SBTi)Tata Power, India’s largest integrated power company, has committed to set emission reduction targets in alignment with the Science Based Targets initiative (SBTi). SBTi is an initiative which drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. It is a partnership between CDP (Carbon Disclosure Project) , the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF) and We Mean Business Coalition. The company’s commitment to the SBTi has been accepted and published under the... Read more.. Date : Jul 27 Source: Tata Power
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Giving efficient plants priority in coal power despatch could save Rs 9,000 cr annually: CEEWDiscoms in India could save up to Rs 9,000 crore every year by prioritizing coal power despatch based on efficiency rather than the prevailing system which prioritizes based on variable costs, according to research done by Council on Energy, Environment and Water (CEEW). This can provide much-needed respite to public discoms, which reported a loss of Rs 61,360 crore in 2018-19, CEEW said in a statement. The findings are based on the performance of 194 Giga Watt Indian coal assets -- out of a total capacity of 205 GW -- during the 30 months period preceding the COVID-19... Read more.. Date : Jul 27 Source: ET Energy World
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Hitachi ABB Power Grids commissions groundbreaking UHVDC project in IndiaHitachi ABB Power Grids in India said on Monday it has successfully commissioned one of India’s longest ultra-high voltage direct current (UHVDC) transmission links for Power Grid Corporation of India Ltd. The 800 kilovolt (kV) plus 6,000-megawatt (MW) link has the capacity to meet the electricity needs of more than eight crore people and stretches 1,800 km to connect Raigarh in central India to Pugalur in the southern state of Tamil Nadu. Reliable power can now be transmitted in either direction depending on demand with exceptionally low power losses and minimal... Read more.. Date : Jul 27 Source: ThePrint
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IIT Guwahati-IIM Bangalore researchers make breakthrough in pricing ‘carbon risk’Researchers from IIT Guwahati and IIM Bangalore has made a breakthrough in pricing ‘carbon risk,’ revealing long-term risks for stocks of polluting firms. Date : Jul 27 Source: Times of India
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Singapore's GIC invests $240 mln in Arctic Green EnergySingapore sovereign wealth fund GIC (GIC.UL) will invest $240 million in Arctic Green Energy to support the renewable energy firm's expansion in Asia and Europe, the companies said on Monday. Arctic Green Energy focuses on the decarbonisation of the building sector and has a geothermal partnership with China's state-owned oil giant China Petroleum & Chemical Corp (600028.SS). The funds would help Singapore-based Arctic Green Energy launch new projects and ramp up its capability in geothermal energy, which is derived from hot underground springs and is a greener... Read more.. Date : Jul 27 Source: Reuters
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India urges G20 nations with high greenhouse emissions to vacate carbon spaceIndia has urged the group of 20 nations (G20) having per capita greenhouse gas (GHG) emissions above the global average to bring it down to the world average, thereby vacating ‘some' carbon space for developing nations. The developed world occupies an estimated 67-75% of carbon space. This assumes significance in the run-up to the United Nations Climate Change Conference to be held in Glasgow in November this year. “The Minister (Raj Kumar Singh) concluded with a vote of thanks and urged those G20 nations which have per capita GHG emissions above the world average to reduce... Read more.. Date : Jul 26 Source: Mint
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Union Power Minister and Minister of State for Power release a report on Key Regulatory Parameters of Power Utilities as part of Azadi ka Amrit MahotsavOn the occasion of 52nd foundation Day of REC Limitedtoday, theCabinet Minister of Power, New & Renewable Energy,Shri R.K. Singh inaugurated the Corporation’s new State-of-the-art futuristic Corporate Office at Gurugram, Harayana, in the presence of Minister of State for Powerand Heavy Industries Shri Krishan PalGurjar, Secretary Ministry of Power Shri Alok Kumar, CMD - REC Limited Shri Sanjay Malhotra and key officials of the Ministry of Power and REC. REC’s new corporate office, spread over 4.2 acres, is a bioclimatic building boasting of a plaza and a 400-seat auditorium. It is a... Read more.. Date : Jul 26 Source: PIB
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Adani Electricity Mumbai issues $2-bn sustainability-linked bondsAdani Electricity Mumbai (AEML), an integrated utilities arm of Adani Transmission, on Friday said it has set up a $2-billion global medium-term notes programme (GMTN). It added that the GMTN programme and the sustainability-linked bond issuance is the next step in its capital management plan. AEML also settled the maiden takedown of $300 million under the programme on Friday. The order-book for the takedown was oversubscribed by 9.2 times by high quality real money global investors and the global geographical split of the investors was Asia, EMEA, and North America. ... Read more.. Date : Jul 26 Source: ET Energyworld
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IFC lends $250 million to HDFC Ltd to boost green housing financeHDFC Ltd has got a loan of $250 million from International Finance Corporation (IFC), the investment arm of the World Bank Group, to be used by India’s largest housing finance company for green housing. Green housing is regarded as a luxury market in the country, but has climate benefits. IFC said its partnership with HDFC would help change perceptions about the market. At least 25 per cent of the funding is for green affordable housing. “IFC’s $250 million loan to HDFC Ltd will support its moves to grow its affordable housing and emerging green affordable housing portfolio... Read more.. Date : Jul 26 Source: Business Standard
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Sweden ratifies, deposits framework agreement of International Solar Alliance Sweden on Friday ratified and deposited the framework agreement of the International Solar Alliance (ISA), an initiative of India aimed at promoting renewable energy and sustainable development, informed the Embassy of Sweden in New Delhi. Date : Jul 26 Source: ANI News
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Indonesia to make biomass co-firing mandatory in power plantsIndonesia plans to make the co-firing of biomass in power stations mandatory as part of its efforts to phase out coal power plants, which account for more than 60% of its electricity supplies, an energy ministry director said on Friday. The Southeast Asian country is the world's biggest thermal coal exporter and relies heavily the fuel domestically, but authorities have pledged to start phasing out coal under climate change commitments. "This co-firing programme is an intermediate solution as we determine how to phase out coal power plants," Chrisnawan Anditya, a renewable... Read more.. Date : Jul 26 Source: ET Energyworld
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India committed to work with G20 countries in mounting an effective response to secure the health of the planet and its people: Shri Bhupender Yadav; Developing countries need support more than ever beforeMinister for Environment, Forest and Climate Change, Shri Bhupender Yadav today said that India is committed to work with the G20 countries for a better world leaving no one behind, and stands together in solidarity with the global community in mounting a strong and effective response that secures the health of the planet and its people. Leading the Indian delegation at the G20 Environment Ministerial the Environment Minister underscored the need for a collective global action to tide over the ongoing Covid-19 crisis, and that the Developing Countries need every possible support... Read more.. Date : Jul 23 Source: PIB
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Rajasthan govt to roll out EV policy soonClose on the heels of Maharashtra, Delhi, Gujarat and Telangana, Rajasthan is also ready to launch the much-awaited Electric Vehicles (EV) Policy. "The EV policy draft is ready and will be sent to the finance department very soon for approval," Mahendra Soni, Commissioner, Transport Department, Rajasthan government, told IANS. The state government recently announced a few incentives, including the subsidising of the upfront cost of electric vehicles for early adopters and offering them the reimbursement of the state goods and service tax (SGST) depending upon the battery... Read more.. Date : Jul 23 Source: ET EnergyWorld
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Bajaj Auto to set up new company for electric and hybrid vehicles, to evaluate having a full range of EVsBajaj Auto will set up a wholly owned subsidiary to tap growth opportunities in the electric and hybrid two-wheeler, three-wheeler and light four-wheeler categories. The proposed authorised capital of the 100 percent subsidiary company will be Rs 100 crore and the paid-up capital being proposed is Rs 5 crore. The name of the new subsidiary is yet to be finalised and subject to approval by the Ministry of Corporate Affairs. The setting up of a new subsidiary comes amid accelerated participation by a number of start-ups and established companies in the electric vehicle space.... Read more.. Date : Jul 23 Source: Moneycontrol.com
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US welcomes PM Modi's continued focus on clean energy: OfficialThe United States welcomes the continued focus of India's Prime Minister Narendra Modi on driving a clean energy transformation in his country despite the challenges posed by the COVID-19 pandemic, a senior official has said. Testifying before a Congressional committee on Thursday, Jonathan Pershing, a senior advisor to the Special Envoy on Climate Change John Kerry said the US and India are committed partners on climate. In April, the two governments signed the "US-India Climate and Clean Energy Agenda 2030 Partnership". Under the partnership, the two sides identified a 2030... Read more.. Date : Jul 23 Source: Live Mint
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LG PLEDGES TRANSITION TO 100 PER CENT RENEWABLE ENERGY BY 2050LG Electronics (LG) today made public its commitment to transition completely to renewable energy by 2050 as a key component of its sustainability strategy. The announcement in the just released LG Electronics Sustainability Report comes on top of its earlier promise to achieve carbon neutrality by 2030 through the Zero Carbon 2030 initiative in which LG pledged to reduce carbon emissions in the production stage to 50 per cent of 2017 standards by 2030. The transformation will be implemented region by region starting in North America where every office and manufacturing site will be... Read more.. Date : Jul 23 Source: LG Newsroom
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Mercedes sketches out all-electric scenario by decade's endDaimler AG's luxury car brand Mercedes-Benz says it is stepping up its transition to electric cars, doubling the share of sales planned by 2025 and sketching out a market scenario in which new car sales would “in essence” be fully electric by the end of the decade. The shift to electric vehicles “is picking up speed — especially in the luxury segment, where Mercedes-Benz belongs," said Ola Kallenius, CEO of Daimler AG and also head of the Mercedes-Benz division. ”The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade."... Read more.. Date : Jul 23 Source: ABC News
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GUVNL withdraws subsidy to 4,000 solar projectsState-run Gujarat Urja Vikas Nigam Limited (GUVNL) has withdrawn subsidy to small-scale distributed solar projects, affecting about 4000 projects with an aggregate capacity of around 2500 MW signed power. The purchase price of power produced was fixed at Rs 2.83 per unit which was already far lower than other states like Rajasthan and Maharashtra, where they set Power Purchase Agreements (PPA) tariff rates at higher than Rs 3.15. In March 2019, the 'Policy for Development of Small Scale Distributed Solar Power Projects' was first announced by the government with the aim of... Read more.. Date : Jul 22 Source: ET Energyworld
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Panel to monitor toxicity in 2 riversThe Gautam Budh Nagar administration has re-constructed a special panel of experts to look into the issues of pollution, encroachment and geographical demarcation of the two tributaries of Ganga -- Yamuna and Hindon -- that pass through the city. Hindon joins Yamuna in the district and Yamuna joins the Ganga in Allahabad. Both rivers are recognised as major polluters for the Ganga. Date : Jul 22 Source: Times of India
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Green energy will drive new capacity at IOC: Shrikant Madhav Vaidya, ChairmanIOC chairman Shrikant Madhav Vaidya shared with his vision for transforming India's largest state-run oil refiner and fuel retailer into a new age energy major. Excerpts: Net-zero is the buzzword. What are your plans? Date : Jul 22 Source: ET Energy World
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