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Sustainability Outlook Headlines

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..

Source: Times of India

Karnataka not to invest in thermal power plants going forward: KPCL MD

The state government has decided to cap thermal power production and not invest in such plants henceforth. “Karnataka Power Corporation Limited has decided to stop investing in thermal power plants any more. The existing plants will keep running and meet the state’s demands,” said KPCL managing director V Ponnuraj. However, according to sources in the energy department, the state is going a step further and considering phasing out thermal power plants in three to five years. “With the thermal power sector being a dying market and more research being undertaken on power storage vis-a-vis... Read more..

Source: Energy Infra

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..

Source: ESG Today

As sales grow, insurers rev up for electric vehicle segment

With the government pushing for electric vehicle (EV) adoption, insurers expect it to emerge as a key segment in the coming days. Currently, whether one drives a petrol, diesel or electric vehicle, insurance cover is a must. In March 2020, insurance regulator Insurance Regulatory & Development Authority of India (IRDAI) had announced that insurers will have to offer a discount of 15 per cent on motor third party premium for electric vehicles to incentivise their use. While the discount announced by the regulator is a good incentive to start with, Adarsh Agarwal, appointed actuary at... Read more..

Source: ET Energyworld

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..

Source: Live Mint

Airtel expands Green Energy footprint: Commissions captive solar power plant for its Data Centres in Uttar Pradesh

As part of its mission to rapidly grow its green energy footprint, Bharti Airtel (“Airtel”), India’s premier digital communications solutions provider, has commissioned a 14 MWp captive solar power plant to meet the energy requirements of its core and edge data centres in Uttar Pradesh. The facility in Tilhar (Shahjahanpur, U.P.) is the first of the two solar plants being set up by Airtel in partnership with AMP Energy. The second plant at Begampur, is expected to go LIVE in the next quarter. This will... Read more..

Source: Airtel

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.

... Read more..

Source: Business Standard

India's biggest solar power plant coming up in Telangana in May

India’s biggest floating solar power plant of 100 megawatt capacity, belonging to the National Thermal Power Corporation (NTPC) is expected to become operational in Telangana next month. The project has been set up by the energy conglomerate NTPC in the reservoir of its thermal power plant at Ramagundam, Peddapalli district. According to C.V. Anand, Executive Director, NTPC Southern Region, this will be the largest floating solar plant in the country in a single location as of now. The project has been set up... Read more..

Source: money control

Kerry on India visit from Apr 5-8, will discuss upcoming US-hosted leaders summit on climate

US' Special Presidential Envoy for Climate John Kerry will be in India from April 5-8 during which he will discuss the upcoming Leaders' Summit on Climate hosted by President Joe Biden as well as key climate issues in the context of the COP26 meet to be held later this year, the Ministry of External Affairs (MEA) said on Friday. MEA Spokesperson Arindam Bagchi said President Biden has invited Prime Minister Narendra Modi to attend the Leaders' Summit on Climate, which will be held virtually, and the Major... Read more..

Source: The Economic Times

Netherlands' FMO to invest $137 million in Green Growth Equity Fund

The Board of the Green Climate Fund (GCF) has approved Dutch development bank FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects. Through the Green Growth Equity Fund (GGEF), managed by EverSource Capital, the Dutch development bank will invest USD 137mln in the energy value chain, water, waste and transport sectors that promote low carbon and climate-resilient initiatives in line with India’s climate objectives and Sustainable Development Goals. The... Read more..

Source: FMO

Country’s first farm-based Kusum solar power project commissioned in Rajasthan

New Delhi: The Central government has asked regulatory commissions to issue tariff orders of all distribution licensees before April 1 of the tariff year and report compliance to the Union power ministry by May 31 every year. In a communication to chairpersons of central and all state power regulatory bodies, the power ministry has sought compliance of legal provisions in the Electricity Act 2003 and the Tariff Policy 2016, which mandate timely determination of the adequate power tariffs by the electricity commissions.

“It has been brought to the notice of the government that... Read more..

Source: Economic Times

India power demand falls for first time in 35 years

CHENNAI : India's annual electricity demand fell for the first time in at least 35 years in the fiscal year to March, government data reviewed by Reuters showed, mainly due to strict coronavirus-induced lockdowns across the country.

Power demand fell 1% during the year ended March 2021, the data showed, mainly due to the imposition of lockdowns that resulted in a decline in electricity consumption for six straight months ending in August.

Demand for electricity has picked up since, and generation grew 23.3% in March from a year earlier, a Reuters analysis of daily load... Read more..

Source: Live Mint

Average price from conventional power plants rises to Rs 3.85/unit in FY21

The average cost at which states purchased electricity from non-renewable energy sources in FY21 has been calculated to be Rs 3.85/unit by the Central Electricity Regulatory Commission (CERC).

The figure is about 7% higher than the average price applicable in FY20.

Average price from conventional power plants rises to Rs 3.85/unit in FY21
By: FE Bureau | April 2, 2021 1:15 AM
As per the CERC’s calculations, the states consumed 1,118.6 billion units of non-renewable electricity in the fiscal. Power from conventional sources comprise more than 90% of electricity... Read more..

Source: Financial Express

Energy and climate leaders from around the world pledge clean energy action at the IEA-COP26 Net Zero Summit

Top international energy and climate leaders from more than 40 countries took part in the IEA-COP26 Net Zero Summit today to identify how to work together to reduce global greenhouse gas emissions and meet the goals of the Paris Agreement.

The Net Zero Summit, co-hosted by IEA Executive Director Fatih Birol and COP26 President Alok Sharma, brought together high-level representatives of energy and climate ministries from countries including Australia, Brazil, China, Colombia, the European Union, France, Germany, India, Indonesia, Italy, Japan, South Africa, the United Kingdom and... Read more..

Source: IEA

SECI to Tender 1.2 GW of ISTS-Connected Solar Wind Hybrid Projects Soon

The Solar Energy Corporation of India (SECI) has informed that it will issue a request for selection (RfS) for setting up 1,200 MW of inter-state transmission system-connected (ISTS) solar wind hybrid projects in India (Tranche-IV).

The RfS document will be issued by April 15, 2021. SECI has asked prospective bidders to remain updated on its SECI website for further details.

The tender document will also factor in basic customs duty which will be levied by the government on imported solar cells and modules from April 2022.

According to Mercom’s India Solar Tender... Read more..

Source: Mercom India

CDPQ and Energize Ventures Announce Partnership to Invest in Clean Energy Technologies

Energize Ventures, a leading global alternative investment manager, and Caisse de dépot et placement du Québec (CDPQ), a global investment group, announced today the beginning of a new co-investment partnership under which CDPQ will invest up to US$125 million over the next three years in ventures that aim to accelerate the digital transformation of energy and sustainable industry sectors.

CDPQ selected Energize as a partner after a full market review and diligence of potential co-investment opportunities. The co-investment agreement expands CDPQ’s existing relationship with... Read more..

Source: CDPQ

Zurich forges ahead with climate goals to tackle growing risk to society

Zurich Insurance Group (Zurich) is intensifying action in support of global efforts to avert the threat of climate change. The Group is committed to using every lever available – investments, operations, and products and services – to accelerate the transition to a net-zero2 emission economy.

Zurich is setting new climate targets for its investments and operations and, crucially, will help finance the transition and require the companies it invests in to set targets aligned with the Paris Agreement. Zurich pledges to take a leading role in developing industry-wide methodologies to... Read more..

Source: Zurich

Netflix Launches Emissions Reduction Plan, Aims for Net Zero in 2022

I’ve worked as a scientist in countries like Kenya, Brazil, and Mexico, studying nature’s ecosystems and how they provide our planet with life support free-of-charge. People recounted their struggle to survive as humanity undermines these systems one-by-one - stories that profoundly impacted my thinking. Then in 2009, I was part of the team that developed the world’s first science-based climate target methodology, leading to a movement now 1,000+ companies strong.

Today, I’m fortunate to be able to combine my love of science and storytelling at Netflix, where we aspire to entertain... Read more..

Source: Netflix

Biden proposal: $174 billion for EVs, new funds for renewable power

WASHINGTON, March 31 (Reuters) - President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power - both provisions aimed at weaning the U.S. off of fossil fuels and combating climate change.

The $2 trillion plan, which also seeks to invest in traditional projects like roads and bridges, is a centerpiece of the administration’s ambitious agenda to decarbonize the U.S. economy by 2050 and restore the nation’s leadership in addressing global warming.

It also vows to spend $165 billion on public... Read more..

Source: Reuters

Apple’s manufacturing partners pledge to use 100% renewable energy, including in India

American technology giant, Apple’s manufacturing partners are joining the company’s drive to become carbon neutral by 2030. The company today announced that 110 of its manufacturing suppliers, including those in India, will be moving to “100 percent renewable energy" for production of Apple’s products. The company said its partners have nearly 8 gigawatts of planned clean energy set to come online by 2030.

“We are firmly committed to helping our suppliers become carbon neutral by 2030 and are thrilled that companies who’ve joined us span industries and countries around the world,... Read more..

Source: Live Mint

Urgent policies needed to steer countries to net zero, says IEA chief

New energy policies are urgently needed to put countries on the path to net zero greenhouse gas emissions, the world’s leading energy economist has warned, as economies are rapidly gearing up for a return to fossil fuel use instead of forging a green recovery from the Covid-19 pandemic.

Most of the world’s biggest economies now have long-term goals of reaching net zero by mid-century, but few have the policies required to meet those goals, said Fatih Birol, the executive director of the International Energy Agency (IEA).

The IEA’s latest figures show global coal use was about... Read more..

Source: The Guardian

Ford Launches Science Based Emissions Reduction Targets

SBTi endorses two new Ford interim carbon-neutrality targets for substantial reductions in greenhouse gas emissions from operations and products by 2035
Integrated reporting underscores that achieving ‘better world’ goals – for the environment and in social matters and governance – is vital to company’s success on behalf of all stakeholders
Increasing commitment to zero-emission EVs is a powerful example: providing customers with high quality, high performance; being better for the planet; driving anticipated long-term growth
Social contributions in 2020 included making... Read more..

Source: Media Ford

World Bank revises climate policy but stops short of halting fossil fuel funding

WASHINGTON/BRUSSELS (Reuters) - A revised World Bank policy on climate change commits to making financing decisions in line with efforts to limit global warming, but stops short of promising to halt funding of fossil fuels, according to a draft bank presentation seen by Reuters.

The World Bank, the biggest provider of climate finance to developing countries, is finalizing a new five-year climate action plan amid growing political momentum in Britain, the United States and other countries for ending public financing of high-emission fossil fuel projects.

In a sharp reversal... Read more..

Source: Reuters

Andhra Pradesh's single largest floating solar project launched at NTPC in Vizag

VISAKHAPATNAM: The Simhadri unit of National Thermal Power Corporation of India Limited (NTPC) launched the 25MW of floating solar power project at its unit premises in Visakhapatnam.

The project is being developed in its own resorvoir spread over 150 acres. The first 5MW block was completed and inaugurated by Diwakar Kaushik, head of the unit, on Wednesday.

It is expected to complete the balance works by June 2021 and full 25MW will be made available to the grid, Kaushik added. Power flow of more than 2MW was witnessed with present solar irrdiance, he said.

This is... Read more..

Source: Economics Times

Jal Jeevan Mission deploys first-of-its-kind sensor-based IoT devices to monitor rural drinking water supply systems

To monitor the rural drinking water supply systems in villages, the Ministry of Jal Shakti has decided to take the digital route to usesensor-based IoT devices to effectively monitor the implementation of Jal Jeevan Mission (JJM) in more than six lakh villages. For this, National Jal Jeevan Mission in collaboration with Tata Community Initiatives Trust (TCIT) and Tata Trusts recently completed pilot projects in several remote villages of five States i.e. Uttarakhand, Rajasthan, Gujarat, Maharashtra, and Himachal Pradesh.A key feature of these pilots has been the use of frugal yet sturdy... Read more..

Source: PIB