Sustainability Outlook Headlines

Business giants' climate disclosure 'clearly inadequate': The new study from environmental law firm ClientEarth

The new study from environmental law firm ClientEarth, reviewed the annual reports of every FTSE 100 firm and the largest 150 companies on the FTSE 250 to assess how companies were disclosing climate-related risk and data amongst mainstream annual filings.

The study found that more than 90% of companies made no reference to climate change and related factors in their financial accounts and audit reports. Only 60% of companies actually refer to climate-related risk as part of the ‘principal risks and uncertainties’ section of their annual report and fewer than 25% reference the... Read more..

Coastal Gujarat Power merger with Tata Power by February-end

Coastal Gujarat Power (CGPL), the wholly owned subsidiary of Tata Power, turned cash-positive in the October-December quarter of 2020 after fuel under recovery reduced further to Rs 0.32 per unit from Rs 0.40 per unit a year ago on lower imported coal prices. Going forward, the merger of CGPL with Tata Power expected by February-end will provide Rs 10,000-crore tax break to the parent over several years.

Over the last 10 years CGPL has made cumulative losses (ex-impairment) of Rs 9,400 crore till FY20 on aggressive bids and adverse coal and currency movement. The tax break is... Read more..

Bank of Japan policy hurts sustainable finance

In recent months, the Nikkei stock average recorded its highest levels in 30 years. The remarkable stock performance contrasts with the fragile economic conditions caused by the second state of emergency declaration in Tokyo and nine other prefectures amid the highest number of infections and deaths since the outbreak of the COVID-19 pandemic. The yen’s persistent appreciation since the middle of last year is also hurting Japanese firms’ foreign profits valued in yen. Japan’s stock prices quickly rebounded after plummeting last March as the pandemic took hold. The major driver is higher U.... Read more..

Delhi govt floats tender to set up 500 EV charging points at 100 locations

New Delhi: Delhi Power Minister Satyendar Jain on Friday announced that the government has floated a tender to set up 500 EV charging points at 100 locations. "Delhi government has floated nation's biggest tender for EV (electric vehicle) charging today, with provision for 500 charging points at 100 locations in Delhi so that EVs can be charged outside homes too," Jain said at a press conference. The estimated timeline to complete the project is one year, he said. Taking to Twitter, he tweeted: "With a vision of Shri Arvind Kejriwal Ji to make Delhi the EV capital of the country, have... Read more..

Amazon orders hundreds of trucks that run on natural gas

Amazon Inc has requested many trucks that operate on compressed natural gaseous petrol as it tests approaches to move its U.S. armada away from heavier polluting trucks. The organization said in an explanation that it is amped up for presenting new feasible answers for cargo transportation and is chipping away at testing various new vehicle types including electric, CNG, and others. Amazon has requested over 700 compressed natural gaseous petrol class 6 and class 8 trucks up until this point, as indicated by the organization. The Covid pandemic made conveyance action flood in 2020, with... Read more..

Startup India Seed Fund Scheme

Startup India Seed Fund Scheme (SISFS) has been approved for the period of next four years starting from 2021-22. It will be implemented with effect from 1st April 2021. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Rs. 945 Crore corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India. The scheme is expected to support about 3600 startups. A number of measures announced under Atmanirbhar Bharat Package... Read more..

Arvind Kejriwal launches 'Switch Delhi' campaign to promote electric vehicles

New Delhi: Chief Minister Arvind Kejriwal on Thursday launched the 'Switch Delhi' campaign to promote electric vehicles and appealed to people to buy such vehicles to combat pollution in the city. Kejriwal said his government will hire only electric vehicles for various purposes in the next six weeks. He asked delivery chains and big companies, resident welfare associations, market associations, malls and cinema halls to promote electric vehicles and set up charging stations at their premises. "I also want to appeal to the youth to buy an electric vehicle as their first vehicle." He... Read more..

UltraTech plans $400-m overseas bond issue

MUMBAI: Birla-owned UltraTech Cement NSE 1.99 %, India’s largest cement producer, is tapping the overseas bond market for the first time amid signs of improving demand for construction works and growing environmental concerns over cement manufacturing. The company launched a roadshow to raise up to $400 million via overseas bond sales on Thursday. The proposed bond sale assumed significance as these bonds are marked as ‘sustainable’ or ESG (Environmental, Social and Governance) in market parlance raised by a cement company that emits pollutants at the time of manufacturing. The bonds are... Read more..

Four solar companies seek special incentives to invest close to Rs 1.5 lakh cr in Rajasthan

Jaipur: Four firms have sought special incentives from the state government to put up 34,200 MW solar projects and a component manufacturing facility having capacity for 2,000 MW. If approved, these projects are estimated to bring in investments of close to Rs 1.50 lakh-crore, including revenues of about Rs 10,000 crore to the government while generating employment for over 16,000 people, as per the proposals of the companies. Adani, Renew Power and Greenco have given 3-5 year deadline to bring these project on-stream. JSW has sought 10 year period. Collectively, they have sought 80,000... Read more..

Union Ministers jointly launch Unified Portal of Gobardhan to promote Gobardhan scheme and track real time progress

Union Minister, Agriculture and Farmers Welfare and Rural Development, Shri Narendra Singh Tomar; Union Minister of Petroleum,Natural Gas and Steel, Shri Dharmendra Pradhan;Union Minister of Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh; Union Minister for Jal Shakti, Shri Gajendra Singh Shekhawat and Union Minister of State, Jal Shakti, Shri Rattan Lal Kataria today jointlylaunched the Unified Portal of Gobardhanhere today.Secretary, Ministry of JalShakti; Secretary, Department of Animal... Read more..

Namami Gange first program in India to link Wetland Conservation to Basin Management Plan: Union Jal Shakti Minister

National Mission for Clean Ganga (NMCG), Ministry of Jal Shakti and India Water Foundation (IWF), celebrated World Wetland Day 2021, to raise awareness about conservation and rejuvenation of Wetlands. This year’s World Wetland Day theme shines a spotlight on wetlands as a source of freshwater and encourages actions to restore them and stop their loss. Highlighting the interconnectedness of all water bodies and their role in maintaining each other’s Aviralta (e-flow) and Nirmalta (cleanliness), Shri Gajendra... Read more..

Women weavers from Dudhwa Tiger Reserve profit from technological interventions for their looms

The Union Jal Shakti Minister Shri Gajendra Singh Shekhawat today described the budget (2021-2022) as being in tune with the needs of the people and promoting inclusive growth. Congratulating Prime Minister Shri Narendra Modi and Finance Minister Smt Nirmala Sitharaman for this budget that strengthened ‘Atmanirbhar Bharat’, he said, "This budget is as per the need of the people and strengthens the resolve of water prosperity, Shri Shekhawat congratulated Union Finance Minister for the budget and said that it... Read more..