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Sustainability Outlook Headlines
Delhi Govt to provide scrapping incentives under Delhi EV Policy: GadkariNew Delhi: Scrapping incentives, including up to Rs 7,500 per vehicle for auto and light commercial vehicle, is being provided by the Delhi Government under Delhi Electric Vehicle Policy 2020, Parliament was informed on Monday. The Delhi government notified the Delhi EV Policy 2020 on Aug 7, 2020, with an intention to promote the adoption of clean mobility solution. The policy aims to establish the feasibility for large scale adoption of electric passenger four wheelers, through transitioning its entire government fleet to electric. "Under the provision, all leased/hired cars... Read more.. Date : Mar 9 Source: Econommic Times
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Adani beats the clock on 100MW wind in IndiaA subsidiary of Adani Green Energy has commissioned a 100MW wind farm in Gujarat, India, five months ahead of schedule. The project in Kutch has been developed by Adani Wind Energy Kutch Three. It has a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI) at Rs2.82 (€0.032) a kilowatt-hour. The newly commissioned plant will be managed by the Adani Group’s Intelligent Energy Network Operation Centre platform that... Read more.. Date : Mar 9 Source: Renews
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China Huadian to shut 3 GW of coal-fired power capacity by 2025- chairmanBEIJING (Reuters) - China Huadian Corp aims to close more than 3 gigawatts (GW) of coal-fired power capacity in the next five years and increase renewables to make up half of its total power generation mix, company chairman told Reuters on Monday. Huadian, China’s third largest power generator by capacity, aims to add 75 GW renewable power capacity over the 2021-2025 period and to bring its carbon emissions to a peak by 2025, Wen Shugang, chairman of Huadian Group, said in a written response to Reuters questions on the sidelines of China’s annual parliament meeting. “Huadian... Read more.. Date : Mar 9 Source: Reuters
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Anthesis secures investment to help eliminate 3 gigatonnes of CO2e by 2030Anthesis, the largest group of dedicated sustainability professionals globally, and one of the UK’s fastest-growing private companies [1], has secured a significant minority investment from Palatine Private Equity, a responsibly-driven, mid-market private equity firm. This backing from a top private equity house comes as Anthesis also achieves the prestigious B Corp accreditation, given to businesses that are shown to meet the highest standards of social and environmental performance, transparency, and legal accountability. Both announcements cement Anthesis’ position as the firm... Read more.. Date : Mar 9 Source: Anthesis Group
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India - Sweden Virtual Summit: Sweden decides to join the International Solar Alliance (ISA)Prime Minister Shri Narendra Modi and Prime Minister of the King-dom of Sweden H.E. Stefan Löfven today held a Virtual Summit where they discussed bilateral issues and other regional and multilateral issues of mutual interest. Prime Minister Modi expressed solidarity with the people of Sweden in the wake of the violent attack on 3rd March and prayed for early recov-ery of the injured. The Prime Minister fondly recalled his 2018 visit to Sweden for the first India-Nordic Summit, and the India visit of Their Majesties the King and Queen of Sweden in December, 2019. ... Read more.. Date : Mar 8 Source: PIB
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Transmission capacity up 53% in past four years: Uttar Pradesh CMLUCKNOW: Chief minister Yogi Adityanath said selfreliance in the power sector is important for making UP ‘atmanirbhar’ and in the last four years the government has succeeded in increasing transmission capacity by 53% to 25,000 MW. The CM inaugurated two sub-stations of 220 KV and nine sub-stations of 132 KV constructed at a cost of Rs 1,347.91 crore virtually on Saturday. Yogi also laid the foundation of 10 sub-stations of 220 KV and six sub-stations of 132 KV to be constructed for Rs1,347.91 crore. “The power infrastructure we had inherited was in shambles. However, in... Read more.. Date : Mar 8 Source: Economic Times
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Husk Power Systems plans to raise USD 110M in equity and debt this yearHusk Power Systems is a Bihar-based mini-power plants company that designs and provides end-to-end renewable energy solutions. Recently, the start-up has announced to have been planning to raise USD 110 million in the form of equity and debt funding this year in 2021. The Indian operator of energy mini-grids that serve in Africa, Asia and India is planning to raise USD 60 million in debt and USD 50 million in equity in 2021. The reason behind this mix and match is to ensure the continued growth of the company’s CAGR which stands for Compounded Annual Growth rate of 100%. ... Read more.. Date : Mar 8 Source: Tech Story
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Free power to farmers, subsidised power to the industry will continue: Punjab CMChandigarh (Punjab) [India], March 5 (ANI): Punjab Chief Minister Captain Amarinder Singh on Friday announced that free power to farmers and subsidised power to the industry will continue in the state in his government. Date : Mar 8 Source: The Daily Guardian
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India Grid Trust inks largest transmission deal with Sterlite PowerIndia Grid Trust, India's first power infrastructure investment trust (InvIT), on Saturday signed a share purchase agreement to acquire NER-II Transmission Limited from Sterlite Power as part of the Framework Agreement. Date : Mar 8 Source: Business Insider
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International coalition set up to help India achieve renewable energy goals, says USWashington: A top Biden Administration official Friday said the US has put together a coalition of several countries to help India achieve its ambitious target of producing about 450 gigawatts of renewable power by 2030, costing around USD600 billion. John Kerry, the special presidential envoy for climate, said the US has set up a consortium of several countries eager to help India with funds and knowhow to achieve this ambitious goal. Kerry made this remark to former Energy Secretary Ernest Moniz during a virtual Fireside Chat at IHS CERAWeek, the world’s premier energy... Read more.. Date : Mar 8 Source: The Print
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Space-starved Singapore builds floating solar farms in climate fightSINGAPORE: Thousands of panels glinting in the sun stretch into the sea off Singapore, part of the land-scarce city-state’s push to build floating solar farms to cut greenhouse gas emissions. It may be one of the world’s smallest countries, but the prosperous financial hub is among the biggest per capita carbon dioxide emitters in Asia. And while authorities have been pushing to change that, renewable energy is a challenge in a country with no rivers for hydro-electricity and where the wind is not strong enough to power turbines. So the tropical country turned to... Read more.. Date : Mar 8 Source: DAWN
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Three free LPG cylinders likely again for Ujjawala subscribersNew Delhi: Government may examine a proposal to extend provision of free LPG cylinders for Ujjwala scheme beneficiaries for three months again in FY22 to provide relief to over 83 million BPL households from rising price of the cooking gas. The 14.2-kg cylinder's price has risen by over Rs 125 per cylinder since January in the wake of a global price hike. This has taken up the price of a LPG cylinder to Rs 819 from Rs 694 in January. In fact since May last year the price of cooking gas has risen by Rs 237.50 in Delhi. Sources said that with Covid pandemic still affecting... Read more.. Date : Mar 8 Source: Economic Times
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Goldman Sachs to Align Financing Activities with 2050 Net Zero PathwayJust over a year ago, we developed a framework to put climate transition and inclusive growth at the forefront of our work with clients. And to demonstrate the depth of our commitment, we announced that we would target $750 billion in financing, investing, and advisory activity to nine areas focused on these two priorities by 2030. We took this step because we saw that climate transition and inclusive growth were increasingly central issues for markets and economies. And now that we are one year in, I thought it was appropriate to update you on where we are. In the past... Read more.. Date : Mar 8 Source: Goldmansachs
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SEC Announces Enforcement Task Force Focused on Climate and ESG IssuesWashington D.C., March 4, 2021 — The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s headquarters, regional offices, and Enforcement specialized units. Consistent with increasing investor focus and reliance on climate and ESG-related disclosure and investment, the Climate and ESG Task Force will develop initiatives to proactively identify ESG-... Read more.. Date : Mar 8 Source: SEC Gov
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Entire rail network to be fully electrified by Dec 2023; entire rail network to run on renewable energy by 2030: Piyush GoyalPiyush Goyal, Union Minister for Railways, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Govt of India today said that the government is working to ensure that the entire rail network will be fully electrified by December 2023 and the entire rail network will run on renewable energy by 2030. Addressing the virtual session 'Investment Opportunities in Andhra Pradesh', during the Maritime India Summit 2021, organized by the Ministry of Ports, Shipping and Waterways, jointly with FICCI, Goyal said that India has had a glorious maritime history and are on the... Read more.. Date : Mar 5 Source: Business Standard
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WBCSD launches new Pathfinder to enable Scope 3 emissions transparency and accelerate decarbonizationGeneva, 4 March 2021: Today, the World Business Council for Sustainable Development (WBCSD) launched the Value Chain Carbon Transparency Pathfinder—a new initiative dedicated to enabling widescale exchange of primary, carbon emissions data. WBCSD invites businesses, standard setting bodies and other decarbonization experts to join a growing business network working to develop a unique, ambitious model to decarbonize industry through data transparency, as set out in the Pathfinder’s Mission paper. To reach net zero emissions before 2050, we need all business to measure,... Read more.. Date : Mar 5 Source: WBCSD
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Nokia today announced that it will reduce emissions by 50% across both its own operations and products in use by 2030Nokia announces it will halve emissions from 2019 to 2030 The Science Based Targets initiative (SBTi) has signed off Nokia’s new targets which fulfil its commitment to align with limiting the global temperature rise to 1.5°C. The previous targets were in line with a 2°C rise Espoo, Finland – Nokia today announced that it will reduce emissions by 50% across both its own operations and products in use by 2030. The company’s new Science Based... Read more.. Date : Mar 5 Source: Globe News Wire
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Cashify Raises $15 Mn From Olympus Capital Asia’s Sustainability PlatformCashify, an online platform to sell used electronic gadgets for instant cash, has raised $15 Mn from New York-based Olympus Capital Asia, a middle-market private equity firm. Olympus has made the investment through Asia Environmental Partners (AEP), its clean energy and sustainability platform. Founded in 2015 by Amit Sethi, Mandeep Manocha and Nakul Kumar, Cashify also sells its own brand of refurbished smartphones under the brand ‘Phonepro’. The company plans to use the proceeds from this investment to further expand its footprint in India. “We are looking forward to... Read more.. Date : Mar 5 Source: BUZZ
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Kellogg Company to Achieve Over 50% Renewable Electricity Globally by the End of 2022 - one of the largest battery storage facilities in the worldBATTLE CREEK, Mich., March 3, 2021 /PRNewswire/ -- Kellogg announced today that the company will achieve over 50% renewable energy to address the electricity needs of its owned manufacturing globally by the end of 2022. The company signed a long-term wind energy virtual power purchase agreement (VPPA) in North America with Enel Green Power for approximately 360 gigawatt hours (GWh) of wind electricity annually, which is equal to 50% of the volume of electricity used across Kellogg's North American manufacturing facilities. Kellogg's VPPA portion of the renewable energy generated by... Read more.. Date : Mar 5 Source: News Room
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Clean Energy and Total Sign Joint Venture to Develop Carbon-Negative Fuel and InfrastructureClean Energy and Total Sign Joint Venture to Develop Carbon-Negative Fuel and Infrastructure NEWPORT BEACH, Calif. – March 4, 2021 – Clean Energy Fuels Corp. (Nasdaq: CLNE) and its largest shareholder, Total SE, today announced a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. The initial firm... Read more.. Date : Mar 5 Source: Clean Energy Fuels
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Magenta Power installs street lamp-integrated EV chargers at HPCL fuel stationsNew Delhi: Magenta Power, a Mumbai-based microgrid power solutions provider, on Wednesday said it has installed its first set of street lamp-integrated electric vehicle (EV) chargers at Hindustan Petroleum Corporation’s (HPCL) fuel stations in Mumbai and Delhi. It added that the ‘ChargeGrid Flare’ street lamp-integrated chargers are located at HPCL’s at Bandra-Kurla Complex outlet in Mumbai and at Niti Marg in Delhi. “This class of EV charging points are first in India to incorporate within energy-efficient street lamp columns, which will encourage EV adoption for flexible... Read more.. Date : Mar 5 Source: Economic Times
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Sustainability-focused investment partnership selects food tech company Benson Hill as first investment for Climate Solutions FundST. LOUIS, MO – March 4, 2021 – Benson Hill, a food tech company unlocking the natural genetic diversity of plants with its cutting-edge food innovation engine to create healthier, great-tasting and sustainable food and ingredient options, has been chosen as the first investment of a three-year, $125 million co-investment partnership to advance climate solutions, formed by Caisse de dépôt et placement du Québec (CDPQ) and S2G Ventures (S2G). Through the co-investment partnership, CDPQ, a global investment group, and S2G, a leading multi-stage investment firm, are investing behind... Read more.. Date : Mar 5 Source: Bensoh Hill
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UK Budget Includes At Least £15 Billion Green Sovereign Bonds, Plans for “Green Curve”The UK took a significant step closer to joining the growing ranks of sovereign green bonds issuers with the announcement in the new budget of a commitment of at least £15 billion of green gilt issuance in this financial year. The green gilt announcement follows a commitment made last year by Chancellor of the Exchequer Rishi Sunak that the UK will issue its first green bond, with proceeds used to help enable the UK meet its 2050 net zero target and other environmental objectives. According to the new budget delivered by Sunak, a Green Gilt Framework will be published in June,... Read more.. Date : Mar 5 Source: Esg Today
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IEA chief backs India on coal, says no exit without financial supportNEW DELHI: Lending his weight to India's stand on coal as an energy source, International Energy Agency (IEA) chief Fatih Birol on Wednesday said it won't be fair to ask developing nations to stop using coal without giving international financial assistance to make up for the economic challenge from such a move. Developing nations like India depend on coal for 60 per cent of their energy, and coal and associated sectors are major employment generators, he said at the Energy Horizons Leadership Dialogue organised by Council on Energy, Environment and Water (CEEW). Endorsing... Read more.. Date : Mar 4 Source: Economic Times
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FedEx Commits to Carbon-Neutral Operations by 2040MEMPHIS, Tenn., March 3, 2021 – FedEx Corp. (NYSE: FDX), home of the world’s largest cargo airline, announced today an ambitious goal to achieve carbon–neutral operations globally by 2040. To help reach this goal, FedEx is designating more than $2 billion of initial investment in three key areas: vehicle electrification, sustainable energy, and carbon sequestration. This includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture, accelerating research into methods of carbon sequestration at scale, with an initial... Read more.. Date : Mar 4 Source: News Room
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