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Sustainability Outlook Headlines

Cabinet Approves Sale Of Government’s Stake In REC To Power Finance Corporation

The cabinet approved the sale of government’s entire 52.63 percent in power sector financier REC Ltd. to state-run peer Power Finance Corporation Ltd. as it looks to mop up funds through such a deal for the second straight year to meet its divestment target.

The Cabinet Committee of Economic Affairs has given its in-principle approval for the strategic sale of 52.63 percent REC to PFC—both public listed... Read more..

Source: Bloomberg Quint

COP24 summit: ‘Developed nations likely to fall way short of 2020 emission targets’

Amid demands for countries to significantly increase their climate actions, a new assessment by the UN climate body shows that the developed nations were likely to fall short of even their modest emission reduction targets for 2020.

A first-of-its-kind assessment by the secretariat of the UN Framework Convention on Climate Change (UNFCCC), made at the request of the developing countries, shows that... Read more..

Source: The Indian Express

India's wind power potential declining due to global warming: Study

The warming of the Indian Ocean due to global climate change may be causing a slow decline in India's wind power potential, according to a study. 

India, the third largest emitter of greenhouse gases behind China and the US, is investing billions in wind power and has set the ambitious goal to double its capacity in the next five years, said researchers from the Harvard John A Paulson School of Engineering... Read more..

Source: ET Energy World

Set climate finance in order for action on climate change: India at COP24

International public finance flows from developed to developing countries critical for urgent action on climate change, says India at the 24thConference of Parties (CoP) on climate change at Katowice in Poland.

In a discussion paper, ‘3 Essential ‘S’ of Climate Finance - Scope, Scale and Speed: A Reflection’ released on sidelines of the ongoing conference, the Ministry of Finance called for more credible,... Read more..

Source: Live Mint

India conducts its first major wind-solar hybrid auction

Softbank-backed SB Energy and Gautam Adani led- Adani Green Energy have won 840 MW of the 1,200 MW put on sale at the first wind-solar hybrid auction. 

SB Energy won 450 MW at Rs 2.67 per unit of electricity generated while Adani Green Energy won 390 MW at Rs 2.69 in the auction conducted by the Solar Energy Corporation of India (SECI). 

... Read more..

Source: The Economic Times

Ministry of New and Renewable Energy to seek cabinet nod soon for rooftop solar scheme SRISTI

The Ministry of New and RenewableEnergy (MNRE) will approach the Union cabinet in the next 30-45 days seeking approval for the solar rooftop scheme Sristi or Sustainable Rooftop Implementation for Solar Transfiguration of India.

"We have just finalized the SRISTI scheme. It is going to the cabinet for approval and would take around a month to 45 days," MNRE Secretary Anand Kumar said.

... Read more..

Source: ET Energy World

Mahindra’s Igatpuri Plant Becomes First Carbon Neutral Facility in India

The Mahindra Group has taken a step forward in its commitment to becoming carbon neutral by 2040, with its Igatpuri manufacturing plant recently becoming India’s first carbon neutral manufacturing facility. This was certified by Bureau Veritas (India) Pvt. Ltd. a global leader in Testing, Inspection and Certification (TIC). Vijay Kalra CEO - Mahindra Vehicle Manufacturers and Chief Manufacturing Operations at Mahindra and Mahindra, said, “This is the first plant within the Mahindra Group to be certified as... Read more..

Source: News18

India could gain $8 trillion with climate battle: Special WHO report

India can get massive health benefits worth $3- $8 trillion by making efforts to limit global warming to 1.5°C by the end this century, says a special report by the World Health Organisation (WHO) released at the UN climate conference in Poland.

The assessment shows over 1 million lives can be saved every year worldwide from air pollution alone by 2050 by meeting the goals of the 2015 Paris agreement. The... Read more..

Source: ET Energy World

MNRE tells lenders to favour BIS-compliant solar projects

The ministry of new and renewable energy (MNRE) has asked lending institutions to give preference to Indian standards to ensure quality while financing solar power projects, having noted that the current procedure favours Chinese suppliers at the cost of Indian players.

In a recent communication to the finance ministry, MNRE said lenders should prefer manufacturers complying with standards laid down by the... Read more..

Source: ET Energyworld

India, Sweden sign deal for a sustainable energy future

Sweden and India Monday signed two MoUs in the Renewable Energy sector to enhance the technology and bring in power efficiency.

The first MoU was signed between Swedish firm Spowdi and EMVEE for setting up local manufacturing and assembly unit in Bangalore.

The second MoU was inked between Swedish Neutral and Tata Power DDL for setting up pilot for earth fault protection in Delhi, Embassy of Sweden said in a statement.

The MoUs were signed on the sidelines of inauguration of the 'Sustainability by Sweden Showroom India' by Swedish Energy, Agency Business Sweden and... Read more..

Source: The Week

I Squared Capital to set up renewable energy platform

Global infrastructure fund I Squared Capital is creating a new renewable assets platform that will acquire and develop utility-scale projects, said two people aware of the development. Founded in 2012 by former Morgan Stanley executives, I Squared Capital focuses on energy, utilities and transport in North America, Europe and some high-growth economies such as India. The firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.

... Read more..

Source: Livemint

Domestic players feel crushed by soaring waste paper imports

The domestic paper industry is in a quandary over the surge in import of waste paper. .

It wants the government to discourage import of contaminated paper and come out with policy framework and regulations.
Regulatory changes in China, which limit use of imported waste paper, are behind the rise in imports, harming various sector players that have created a healthy circular economy.

... Read more..
Source: Hindu Businessline

India eyes farm forestry to reduce carbon footprint

Agro-forestry or farm forestry will be India’s key strategy to reduce its carbon footprint so as to meet its goals under the Paris climate agreement according to the submission the country plans to make at the COP 24 climate conference that’s being held in Poland.

The forest conservation division of the union environment ministry has readied a document which will be presented during COP 24 underway at... Read more..

Source: Hindustan Times

NGT slaps 25 crore fine on Delhi government

The National Green Tribunal (NGT) on Monday asked the Delhi government to deposit Rs 25 crore with the Central Pollution Control Board (CPCB) for their failure to curb the problem of pollution in the city.

A bench headed by NGT Chairperson Justice Adarsh Kumar Goel also asked the AAP government to furnish a performance guarantee of Rs 25 crore with the apex pollution monitoring body to ensure that there is... Read more..

Source: ET Energyworld

World Bank Pledges $200 Billion to Combat Climate Change

The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan also represents significantly ramped up ambition from the World Bank Group, sending an important signal to... Read more..

Source: World Bank

India likely to attain one of its climate targets a decade in advance: new research

As India prepares to reveal, this evening, the latest information on the amount of greenhouse gases it has been emitting for the last few years, a new analysis by an international energy research body shows New Delhi was in line for achieving at least one of its emission-reducing targets a decade earlier than planned.

The Institute for Energy Economic and Financial Analysis (IEEFA), a US-based organisation... Read more..

Source: Indian Express

India plans 23GW of solar in high altitude Ladakh

India's Ministry of New and Renewable Energy (MNRE) is set to launch a hugely ambitious plan to facilitate 23GW of grid-connected solar PV projects in Ladakh in the state of Jammu & Kashmir, which is a mountainous desert region in the far north of India.

Phase-I will include 2.5GW in Zangla region of Kargil and 5GW to be set up in the Pang region of Leh district, but the exact locations are tentative at present.

The tender, to be issued by 15 December, will include not just setting up the solar projects but also the entire transmission infrastructure as well as... Read more..

Source: PV Tech

At Climate Change Summit, Germany to Seek Private Funds for Projects in India, Africa

Expectations are muted for this week's meetings given divisions within Europe, and tension between the United States and China.

Delegates from about 195 nations will seek to produce a "rule book" to flesh out details of the Paris Agreement of 2015, which the United States, at the behest of President Donald Trump, has announced it will quit.

... Read more..

Source: News18

Waste segregation mandatory in Ahmedabad from today

From today the Ahmedabad municipal corporation (AMC) will only accept segregated waste. On the eve of the D-day on Sunday, 40,000 municipal employees — right from the municipal commissioner down to sanitation workers — got down on road, visited societies, 255 parks and gardens, public spaces and even shopping areas, and 700 AMTS buses, restaurants to spread the message of waste segregation.

This is by far the largest campaign organized by the civic body according to municipal commissioner Vijay Nehra. AMC officials said some 28,000 ‘points of interest’ in the city have been... Read more..

Source: Times of India

To cut cost, railways to set up solar plants on its vacant land

In a bid to lower its operating ratio (the amount it spends as a proportion of the amount it earns) , which is currently at its highest level at 111%, the Indian Railways plans to utilise its vacant land to set up solar power plants of 30 gigawatt (GW) capacity.

At present, for every Rs 100 the railways earns, it spends Rs 111.

... Read more..

Source: Hindustan Times

Need to protect farmers from climate change, price fluctuations, says President Kovind

President Ram Nath Kovind on Saturday commended the farmers for their contributions in the farming sector. He said that the farmers have proven to be remarkably adaptable and unafraid of innovation. He was speaking at the 13th edition of CII Agro Tech India-2018.

The President also said that the farmers have been bold in embracing risk and converting risk into opportunity. “As a result, India has emerged as... Read more..

Source: Financial Express

Centre to revive 23GW solar and transmission projects in Leh region

The Centre is reviving mega solar power projects in Leh and Ladakh, with a plan to set up 23GW of grid-connected projects. Private developers would be invited to submit tenders for these. 

Their transmission network would be extended till Punjab, a distance of about 850 km. 

The United Progressive Alliance (UPA) government had tried to set up a 7.5GW solar project, but the plan never saw the light of day. The current government listed 5GW project in Leh in its list of ultra-mega solar project across county. The tender process has not begun for it yet.

In the phase 1 of... Read more..

Source: Business Standard

‘Solar capacity has increased by 370% in last 3 yrs in India’

It is not known how India’s negotiations at the 24th session of the Conference of the Parties (COP) will be received. Its pavilion, however, has caught the eye of global participants.

Based on the theme of ‘One World, One Sun, One Grid’, the country’s pavilion this year focuses on renewable energy, green cover, energy efficiency among other issues. Two robotic hands, presenting a three-dimensional... Read more..

Source: The Times of India

Gujarat: Textile mills tie up with Gujarat Energy Development Agency to reduce energy consumption

City-based textile processors have tied up with state government-owned Gujarat Energy Development Agency (GEDA) and Man-Made Textiles Research Association (MANTRA) for reducing energy consumption in textile mills in south Gujarat, including Surat. 

At present, energy cost-water, coal and electricity- is about 40 per cent in the overall cost of production of finished polyester fabrics in the textile mills. A... Read more..

Source: ET Energy World

City gas distribution to see big investments

City gas distribution (CGD) network is turning out to be the next big downstream expansion in India, after fuel retailing, with investments of as much as ₹1.1 trillion expected over the next decade, said company executives.

CGD refers to transportation or distribution of natural gas to consumers in domestic, commercial or industrial and transport sectors through a network of pipelines. This business has,... Read more..

Source: Live Mint