You are here

Sustainability Outlook Headlines

CESL signs agreement with Common Service Centre SPV to build demand aggregation for EVs; design solar and battery energy storage solutions

Convergence Energy Services (CESL), a wholly owned subsidiary of Energy Efficiency Services (EESL), has signed an agreement with CSC e Governance Services India Limited (CSC SPV) to create demand aggregation for electric mobility, solar, energy efficiency solutions and other initiatives of CESL.

The agreement was signed between Ms Mahua Acharya, MD & CEO, CESL and Dr. Dinesh Kumar Tyagi, MD CSC SPV in the presence of Saurabh Kumar, Executive Vice Chairperson (EVC), EESL Group among other dignitaries from EESL, CESL and CSC.

Under the agreement CESL and CSC will aggregate... Read more..

Source: Manufacturing Today

Financing Agreements Signed for Digha & Kankarbagh Sewage Projects in Patna, Bihar - mix of Design, Build, Operate and Transfer (‘DBOT’) scope and Hybrid Annuity Model (HAM) scope

Financing agreements for developing STPs and Sewerage network for Digha and Kankarbagh zones of Patna were signed between DK Sewage Project Pvt Ltd (a subsidiary of VA Tech Wahagh) and PFS. The scope of the project includes development of Sewage Treatment Plants of 150 MLD capacity along with sewerage network of over 453 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of the river Ganga. This is the first of its kind project which comprises of a mix of Design, Build, Operate and Transfer (‘DBOT’) scope and Hybrid Annuity Model (HAM) scope.

... Read more..
Source: PIB

HSBC Strengthens Support for Hong Kong Companies in Low Carbon Transition with Green Deposits

HSBC further enriches its suite of green finance solutions with the roll-out of Green Deposits for businesses in Hong Kong today. Commercial customers, in particular SMEs, can now include the sustainability agenda into their treasury activities with a simple and predictable deposit product, contributing to a greener and more resilient future.

The pandemic has prompted Hong Kong businesses to rethink priorities and plan for more sustainable developments. Almost all Hong Kong companies (96%) believe a greater focus on sustainability will drive growth, with 46% expecting a modest... Read more..

Source: Treasury Management

Google, 23 others urge round-the-clock clean energy for federal facilities

New Delhi: Two dozen companies and environmental groups, including Google, urged President Joe Biden to be a "catalyst for investment" by mandating that federal facilities be powered with locally generated clean energy sources around the clock.

A goal of using only carbon-free electricity at all hours of the day would be a major step beyond the 100% clean energy commitments that have become popular among corporations and governments but still include some reliance on fossil fuel-generated power that is balanced out with cleaner sources.

Google made a round-the-clock clean... Read more..

Source: Economics Times

1st all-electric Kia car can do 500 kms on single charge

Taking Elon Musk-run Tesla head on, South Korea's No 2 automaker Kia on Tuesday unveiled the EV6, its first all-electric model built on a dedicated platform that can travel over 500 kms on a single charge.

The EV6 is priced at from over 45 million won to around 55 million won ($40,000 and $48,500) -- similar to Tesla's entry-level all-electric sedans.

In an online world premier event, South Korea's No. 2 automaker showcased its crossover EV6 based on its parent Hyundai Motor Group's electric global modular platform (E-GMP), which is the same platform used for the Hyundai... Read more..

Source: Economics Times

China's coal generation rises, India sees a decline

China was the only G20 country that saw a large increase in coal generation in the pandemic year, said a research published on Monday by energy think tank Ember. India, on the other hand, saw a decline of five per cent.

Globally there was a record fall in coal generation in 2020, which was mirrored in India and other top coal power countries. China is now responsible for more than half (53 per cent) of the world's coal-fired electricity.

The pandemic paused electricity demand growth in 2020, enabling new wind and solar to drive a record fall in coal power.

Wind and... Read more..

Source: Economics Times

FACT SHEET: Biden Administration Jumpstarts Offshore Wind Energy Projects to Create Jobs

Today, the White House convened leaders from across the Administration to announce a set of bold actions that will catalyze offshore wind energy, strengthen the domestic supply chain, and create good-paying, union jobs.

National Climate Advisor Gina McCarthy, Interior Secretary Deb Haaland, Energy Secretary Jennifer Granholm, Commerce Secretary Gina Raimondo, and Transportation Secretary Pete Buttigieg met today with state officials, industry executives, and labor leaders to announce new leasing, funding, and goals that employ President Biden’s whole-of-government approach, position... Read more..

Source: White House

Third of UK's biggest companies commit to net zero

Almost 1 in 3 of the UK’s largest businesses are leading the way in the world’s transition to a low carbon economy, committing to align with UK government ambitions and eliminate their contribution to climate change by 2050.

As of today (Tuesday 31 March), 30 of the UK’s FTSE 100 companies have signed up to the United Nation’s Race to Zero campaign – the largest ever global alliance committed to achieving net zero carbon emissions by 2050 at the latest, backed with science-based targets, with many opting to go even faster. Today’s milestone means pledges have doubled in the past 5... Read more..

Source: Gov UK

Petroleum Minister Shri Dharmendra Pradhan and the New US Secretary of Energy H.E. Jennifer Granholm agreed to Revamp India-US Strategic Energy Partnership

Minister of Petroleum and Natural Gas &Steel Shri Dharmendra Pradhan today held an introductory meeting virtually with US Secretary of Energy H.E. Jennifer Granholm. Minister Pradhan congratulated Secretary Granholm on assuming the high office and reviewed the India-US Strategic Energy Cooperation (SEP). Both leaders agreed to revamp the India-US SEP to reflect the new priorities of Prime Minister Narendra Modi and President Joe Biden with focus on promoting clean energy with low-carbon pathways and accelerating green energy cooperation.

They agreed to prioritise greater... Read more..

Source: PIB

MoU signed towards execution of planned actions in time bound manner in 132 cities under National Clean Air Programme(NCAP)

In the presence of Minister of Environment, Forest and Climate Change, Shri Prakash Javadekar the Memorandum of Understanding (MoU) was signed today by representatives of State Pollution Control Boards, Urban Local Bodies and Institutes of Repute for 132 identified cities for implementation of city specific action plans under National Clean Air Programme (NCAP).
Speaking on the occasion Shri Javadekar said that concerted efforts are required by the State Governments and all concerned for improving air quality in the country towards realizing the vision of ‘Swatch Bharat, Swatch Vayu... Read more..

Source: PIB

Karnataka: 20 per cent of daily power needs met by solar energy

BENGALURU: Solar energy plants meet about 20 per cent of Karnataka’s daily power requirements as the overall share of renewables continues to climb. At 7,346 megawatts (MW), the state has the largest installed capacity of solar power in the country, and the biggest local plant is in Pavagada (Tumakuru).

Last week, minister of state for power and energy (IC) RK Singh informed the Lok Sabha that Karnataka was far ahead of other states in harnessing sunlight. After Karnataka, Tamil Nadu (4,403 MW) has the largest installed capacity of solar power. Gujarat (4,068 MW) is third.

... Read more..

Source: Economics Times

Tata Power Delhi Distribution collaborates with Nexcharge to power up India’s First Grid Connected Community Energy Storage System

Tata Power-DDL, a leading Power Distribution utility supplying electricity to a populace of 7 million in North Delhi, collaborated with Nexcharge, a joint venture between Exide India, Leclanché, Switzerland launched India’s First Grid Connected Community Energy Storage System (CESS) in Rani Bagh, New Delhi today.

The Battery Energy Storage System was inaugurated by Shri Satyendar Jain, Hon’ble Power Minister, Govt. of NCT of Delhi in the presence of Mr. Ganesh Srinivasan, CEO, Tata Power-DDL and Stefan Loius, Chief Executive Officer, Nexcharge other senior officials of Tata Power-... Read more..


President Biden Invites 40 World Leaders to Leaders Summit on Climate

Today, President Biden invited 40 world leaders to the Leaders Summit on Climate he will host on April 22 and 23. The virtual Leaders Summit will be live streamed for public viewing.

President Biden took action his first day in office to return the United States to the Paris Agreement. Days later, on January 27, he announced that he would soon convene a leaders summit to galvanize efforts by the major economies to tackle the climate crisis.

The Leaders Summit on Climate will underscore the urgency – and the economic benefits – of stronger climate action. It will be a key... Read more..

Source: White House

Investors BlackRock, Vanguard join net zero effort

BOSTON (Reuters) - Top asset managers BlackRock Inc and Vanguard Group Inc have joined an investor push to limit greenhouse gas emissions to net zero by 2050, giving new momentum to the effort despite concerns its goals have some wiggle room.

The two largest U.S. fund firms will now account for roughly half of the $32 trillion of total assets supporting the initiative of groups including the Institutional Investors Group on Climate Change in Europe and the United Nations-backed Principles for Responsible Investment.

Signatories to the Net Zero Asset Managers  Initiative, now... Read more..

Source: Reuters

Tesco sets out its climate “manifesto” ahead of crucial COP26 Conference in Glasgow

Tesco has today launched a new climate change “manifesto” ahead of this year’s crucial COP26 Climate Change Summit in Glasgow.

The retailer has identified five key areas of focus where it can make the most difference, including cutting absolute emissions from energy, supporting the UK’s transition to electric transport, tackling food waste, supporting the sustainable production of food, and helping customers eat healthy, sustainable diets.

Setting out Tesco’s priorities at The Grocer Conference today, Tesco CEO, Ken Murphy stressed the need for both efficiency improvements... Read more..

Source: Tescoplc

BASF presents roadmap to climate neutrality

BASF is setting itself even more ambitious goals on its journey to climate neutrality and wants to achieve net zero emissions by 2050. Based on the most recent progress in developing low-emission and CO2-free technologies, the company is also significantly raising its medium-term 2030 target for reductions in greenhouse gas emissions: BASF now wants to reduce its greenhouse gas emissions worldwide by 25 percent compared with 2018 – and to achieve this despite targeted growth and the construction of a large Verbund site in South China. Excluding the effects of the planned growth, this means... Read more..

Source: BASF

Shell to link executive pay more closely to group's climate performance

LONDON (Reuters) - Royal Dutch Shell has proposed linking its directors’ pay more closely to the group’s climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said on Monday.

The weighting of Shell’s energy transition performance on its targeted path to net zero emissions by 2050 would double to 20% of the directors’ long-term incentive plan calculation if shareholders vote for the plan at a meeting on May 18.

This places Shell’s efforts to curb its planet-warming emissions on an equal footing with financial metrics... Read more..

Source: Reters

China's technology firms explore building zero-carbon internet

Beijing: China's internet industry has seen robust growth in recent decades, but its data centres, large-scale servers and cellular base stations are consuming energy at a faster pace. Hence, China's tech firms have started to work on green solutions.

According to a report by China's State Grid Energy Research Institute, the electricity consumption by data centres alone in 2020 is estimated to exceed 200 billion kWh, accounting for 2.7 per cent of the country's electricity consumption.

By 2030, the data centre electricity consumption in China will exceed 400 billion kWh,... Read more..

Source: Economics Times

170 GW of renewable energy capacity either operational or under development: R K Singh

As much as 170.14 gigawatts (GW) of renewable energy capacity, excluding large hydropower units, has either been installed or under various stages of development or bidding at February-end this year, Parliament was informed on Thursday.

The statement assumes significance in view of India’s ambitious target of having 175 GW installed renewable energy capacity by December 2022.
“A total of 92.97 GW renewable energy capacity (excluding large hydro) has been cumulatively installed in the country as on February 28, 2021.

Further, a capacity of 50.15 GW is under various... Read more..

Source: Financial Express

Haryana announces subsidy on rooftop solar power plants (4-10kW systems)

Chandigarh: To promote solar energy in Haryana, the Dakshin Haryana Bijli Vitaran Nigam in Thursday announced a scheme with subsidy of 40 per cent for a three kilowatt plant in homes as per the guidelines of the Ministry of New and Renewable Energy.

A subsidy of 20 per cent subsidy will be for four to 10 KW for installing solar system from listed firms.

Dakshin Haryana Bijli Vitaran Nigam Managing Director Balkar Singh said by installing a solar system of one KW, the consumer can save up to Rs 6,000 in a year and the expenditure done for installing this solar system could be... Read more..

Source: Economics Times

Signing of Loan Agreement for “Climate Change Management Project” in India: Supporting India to reduce the emission of greenhouse gas through Private Sector Investment Finance

On March 25, Japan International Cooperation Agency (JICA) signed a Loan Agreement for a maximum amount of JPY 10 billion with Indian Non-Banking Financial Company, Tata Cleantech Capital Limited (TCCL) to support the company to offer loans to businesses across India that focus on renewable energy generation, electric vehicles (EV) as well as energy efficiency following the Green Loan Principles (Note). This loan will be provided through Private Sector Investment Finance scheme of JICA and is co-financing with the Sumitomo Mitsui Banking Corporation (SMBC).

India is the world's... Read more..

Source: JICA

Tata Power-DDL partners with Sun Mobility to set up network of swap points in Delhi

New Delhi: Tata Power-DDL, a joint venture of Tata Power and Delhi government, announced its partnership with SunMobility, provider of energy infrastructure platform and services for electric vehicles, to set up a network of battery swap points across North and North-West Delhi.

The company said ìn a statement this initiative is in line with the Delhi ghovernment’s “Switch Delhi” campaign and the partnership aims at setting up a broad network of battery swapping infrastructure that makes swapping accessible to customers at the same scale and ease as conventional refueling.

... Read more..

Source: Economics Times

PXIL launches Green Term Ahead Market trading platform

We are pleased to inform Members and Clients regarding the introduction of Green Term
Ahead Market (G-TAM) w.e.f. Wednesday March 24 ,2021 in line with approval from
Central Electricity Regulatory Commission vide Petition No. 228/MP/2020 dated 19th
March, 2021.
The G-TAM product shall be a new product segment in the Physical products that are
currently being traded at exchange. The G-TAM products family shall include the various
products designed to keep in view the requirements of the market participants.
The Matching Methodology of all the G-TAM... Read more..

Source: Power Exindia

China to step up financial support for wind and solar power

SHANGHAI (REUTERS) - China said on Thursday it will step up financial support for the development of wind and solar power generation, as part of its efforts to meet its target for carbon emissions cuts.

China would step up financial support to promote the healthy and orderly development of wind and solar power industries, as some renewable energy companies had encountered difficulties in production and operations due to tight cash conditions, the People's Bank of China (PBOC) said in a statement on Thursday.

President Xi Jinping last year targeted a steeper cut in rates of... Read more..

Source: US News

UK firm Superdry accelerates sustainable cotton strategy

Sixty five per cent of all garments containing any amount of cotton will be derived from organic sources in the next four years, according to British company Superdry, which recently said more than a fifth of its garments contain organic cotton, and a third of all garments contain organic, recycled and low-impact fibres, including Tencel, hemp, yak or linen.

The decision is part of a strategy to support the company’s organic cotton requirements, by helping 20,000 farmers adopt the latest sustainable organic cotton farming practices. At the current rate of rollout, this initiative is... Read more..

Source: Fiber2Fashion