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Sustainability Outlook Headlines

Time to Transform - Leading multinational companies set urgent action agenda for all people to live well, within planetary boundaries.

Geneva, Switzerland, 25 March 2021: The world faces three critical challenges: the climate emergency, nature loss and mounting inequality. The COVID-19 pandemic has illustrated that these challenges are interconnected, and that our systems are ill-prepared for shocks. As global risks continue to build, business leaders are rallying behind a bold and urgent transformation agenda developed by the World Business Council for Sustainable Development (WBCSD), a CEO-led organization of over 200 leading companies.

Vision 2050: Time to Transform sets a shared vision of a world in which more... Read more..

Source: WBCSD

UK Financial Regulators Directed to Embed Climate Considerations into Policies and Actions

The UK’s financial regulators will be required going forward to embed climate change considerations in their decisions and actions, according to HM Treasury, the government’s economic and finance ministry.

UK Chancellor of the Exchequer Rishi Sunak sent letters to the Financial Conduct Authority (FCA) and Prudential Regulation Committee (PRC), which supervise financial services firms, updating their remits with new directions to incorporate the government’s commitment to achieve a net-zero economy by 2050 when considering how to advance its objectives and discharge its functions.... Read more..

Source: ESG Today

Mastercard Links Exec Compensation to Sustainability Goals

(Reuters) - Mastercard will link bonuses for its senior executives to environmental, social and corporate-governance initiatives, Chief Executive Officer Michael Miebach said in a note on the payment processor’s website on Wednesday.

The company will link compensations for executive vice presidents and above to helping Mastercard achieve its goals of cutting its carbon usage, improve financial inclusion and gender pay parity.

“The purpose of our incentive compensation programs is to encourage and reward performance that helps us achieve our goals — financial goals, of course... Read more..

Source: Reuters

Climate Transition Action Plan': Unilever puts net-zero roadmap to shareholder vote

The two biggest threats the world currently faces are climate change and social inequality – threats that are deeply intertwined. Climate change is not only an environmental crisis but one which will impact the lives and livelihoods of hundreds of millions of people around the world.

The implications of climate change for both our business and our consumers will be profound. It threatens our whole value chain – from how we grow our raw materials, to whether clean water is available for consumers to use our products. And a huge amount in between. Without decisive action on a global... Read more..

Source: Unilever

Gadkari: Need to develop infrastructure with a green approach

Union Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari has stressed that the country needs development but there is a need to maintain ecology and environment, as well. Addressing Virtual National Roads & Highways Summit with “Focus on Green Infrastructure” today, the Minister talked about the key features of green highways, and said that these highways work towards goals of reduction in greenhouse gas emission, carbon footprint, and the use of non-renewable energy sources.

Listing notable initiatives of the Ministry of Road... Read more..

Source: PIB

World Meteorological Day celebrations and Inauguration of Climate Data Portal

India Meteorological Department celebrated World Meteorological Day: Azadi Ka Amrit Mahotsav on 23rd March, 2021. Dr. M. Rajeevan, Secretary, Ministry of Earth Science and Chief Guest of this function inaugurated Climate Data Services Portal of IMD on this occasion. He also released Standard Operation Procedures (SOPs) & Brochures of IMD in presence of Dr. M. Mohapatra, DGM, in an online event. Salient features of the Climate Data Services Portal, SOPs and Brochures are given below.
Climate Data Service Portal:
Climate Data Services Portal has been developed by IMD, Pune... Read more..

Source: PIB

RERC relents, net metering benefits to stay till June 30 till further decision

Jaipur: Buckling under pressure from industry and in view of a possible revision in net metering for load up to 10 kilo watt and gross metering above 10 kilo watt by the Union ministry of power and Central Electricity Authority, the Rajasthan Energy Regulatory Commission (RERC) has deferred implementation of new rooftop solar net metering norms that threatened to affect 90% of the projects.

In an order on Wednesday, RERC said that while the commission proposed to issue finalized regulations in due course of time, it said that to bring regulatory certainty it is clarified that ‘... Read more..

Source: Economics Times

Rapido goes electric in partnership with Zypp Electric

Rapido has announced joining hands with Zypp Electric, to provide EV bike taxi ride service – Rapido EV - to its customers. With an aim to reduce its carbon footprint and encourage the use of environment-friendly vehicles, Rapido will be onboarding 100 + riders and electric two-wheelers from Zypp as part of its Captain fleet.

The service will be a pilot run for three months starting from March 2021 and will be tested for its demand and veracity in the Delhi-NCR area. Rapido is looking to on-board more such EV partners to further expand this business model across its Tier I market... Read more..

Source: Business World

Adani Green set to acquire 75 MW solar projects from Sterling & Wilson

Adani Green Energy Limited (AGEL) has announced that it will acquire 75 MW of operational solar assets in Telangana from Sterling and Wilson, a Shapoorji Pallonji Group subsidiary, for ₹4.46 billion (~$61.45 million).

AGEL said that it signed definitive agreements with Sterling and Wilson to acquire 100% of two special purpose vehicles that own the solar projects. The projects were commissioned in 2017 and had long-term power purchase agreements with the Southern Power Distribution Company of Telangana (TSSPDCL).

The Gujarat-based renewable power developer said that with... Read more..

Source: Mercom India

Andhra HC seeks details of discom dues to renewable energy companies

Vijayawada: The Andhra Pradesh high court directed discoms to give details of the amount due to various solar and wind energy generation companies across the state. The division bench headed by chief justice Arup Kumar Goswami heard a petition filed by solar and wind energy generation companies challenging the orders given by the single bench of the high court permitting the Electricity Regulatory Commission (ERC) to revise the unit charge of power purchases.

Senior counsel P Raghu Sriram, Basava Prabhu Patil and Sanjan Poovayya appeared for the power generation companies and... Read more..

Source: Economics Times

Ralph Lauren Working To Change How the Fashion Industry Dyes Cotton: Works With Dow, Jeanologia, Huntsman Textile Effects and Corob

NEW YORK CITY — March 22, 2021 — Ralph Lauren Corp. today introduces Color on Demand, a dyeing platform that will transform how the fashion industry colors cotton — more sustainably, more effectively and faster than ever before. The company has established Color on Demand, a multi-phased system, with a clear ambition to deliver the world’s first scalable zero wastewater cotton dyeing system.

Every year, trillions of liters of water are used for fabric dyeing alone, generating around 20 percent of the world’s wastewater.1,2 This untreated wastewater is incredibly polluting and... Read more..

Source: Testile World

UK government announces landmark deal in green energy transition

The government of the UK has announced a landmark climate transition agreement for Britain's North Sea offshore oil and gas industry. The newly-released "North Sea Transition Deal" is a promise to support the offshore work force and supply chain during the switch to renewable energy and a net-zero emissions economy.

"We will not leave oil and gas workers behind in the United Kingdom’s irreversible shift away from fossil fuels," said Business and Energy Secretary Kwasi Kwarteng in a statement. "At every step on the path to net zero emissions, we will create the right conditions for... Read more..

Source: Maritime

Leading Businesses Call on Japan to Accelerate Renewable Energy Commitment

A group of leading global and Japan-headquartered businesses have issued a call on the Japanese government to significantly increase its ambitions for renewable energy, on its pathway to decarbonization.

More than 50 companies from the RE100 initiative, including Google, AstraZeneca, Nestlé, Ricoh, Panasonic and Nikon, have issued an open letter to Prime Minister Yoshihide Suga calling for a increase in the country’s target to 50% by 2030, more than double the current goal. RE100 is a global initiative led by the Climate Group and in partnership with CDP, bringing together the... Read more..

Source: Esg Today


SABIC has signed a joint agreement with BASF and Linde to develop and demonstrate solutions for electrically heated steam cracker furnaces.

The partners have already jointly worked on concepts to use renewable electricity instead of the fossil fuel gas typically used for the heating process. With this innovative approach focusing on one of the petrochemical industries’ core processes, the parties strive to offer a promising solution to significantly contribute to the reduction of CO2 emissions within the chemical industry.

Steam crackers play a central role in the... Read more..

Source: Sabic

Nitin Gadkari : Bamboo Industry has potential to be worth Rs.30,000 crore; Calls for multiple Use of Bamboo to increase its demand and plantation

Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari addressed a virtual exhibition on Bamboo Technology, Products and Services through video conferencing on Tuesday. The exhibition was organised by the Indian Federation of Green Energy (IFGE).

In his address, Shri Gadkari said that there is a need to increase demand for bamboo. He said that bamboo has potential to be used as an alternative to coal and can also be used in construction. Shri Gadkari said that use of jute and coir mattresses is soon going to be made mandatory for all... Read more..

Source: PIB

Discoms get ₹46,321 crore under liquidity infusion scheme so far: Govt

NEW DELHI : The government on Tuesday informed the Parliament that the power ministry has disbursed ₹46,321 crore so far to power distribution utilities or discoms in the country under liquidity infusion scheme.

Power Minister R. K Singh said in a written reply to the Rajya Sabha that "So far, loans of ₹1,35,497 crore have been sanctioned and ₹46,321 crore have been released to states/DISCOMs by REC and PFC (Power Finance Corporation)."

The Modi government had announced a liquidity infusion scheme of ₹1.35 lakh crore as part of AatmaNirbhar Bharat Abhiyan on May 13, 2020, in... Read more..

Source: Live Mint

NLC India-Coal India JV to invest in 3,000 MW solar power projects

Chennai: Integrated lignite mining-cum-power generation company NLC India Ltd and Coal India Ltd have plans to get into 3,000 MW of solar power generation, a top NLC India official said.

"NLC India and Coal India have formed a joint venture company Coal Lignite Urja Vikash Private Ltd. We will be bidding for about 3,000 MW of solar power projects that will be tendered. The investment needed will be about Rs 125 billion," NLC Chairman-cum-Managing Director Rakesh Kumar told IANS.

He said Coal Lignite Urja is a 50:50 joint venture company and NLC India has already invested Rs 1... Read more..

Source: Economics Times

Govt Plans Additional Incentives For EV Makers In Proposed PLI Scheme For Auto Sector To Boost Local Production: Report

In a major push for attracting big investments towards domestic manufacturing of electric vehicles in India, the government is said to planning to offer a fresh set of incentives to companies as a part of its broader scheme for the auto sector, reports Economic Times.

The final details of the production linked incentives (PLI) scheme are expected within a month. With the details of the scheme being worked out, the government is reportedly expecting to attract as much as $14 billion of investments over a period of five years after implementation of the scheme.

Under the scheme... Read more..

Source: Swaraj Yamag

$300 Million From Green Climate Fund To Support ADB’s First Green Recovery Program In Southeast Asia

MANILA, PHILIPPINES (22 March 2021) — The Green Climate Fund (GCF) has allocated $300 million to support the Asian Development Bank's (ADB) efforts to help Southeast Asia shape a climate-resilient, environmentally sustainable economic recovery from the coronavirus disease (COVID-19) pandemic.

The Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility (ACGF) Green Recovery Program aims to leverage GCF and ADB funds to catalyze financing from development partners and private capital sources to support more than $4 billion worth of green infrastructure projects... Read more..

Source: ADB

China to inspect renewable power consumption to improve offtake

BEIJING, March 23 (Reuters) - China’s energy administration, as part of a drive to reduce greenhouse gas emissions, will inspect renewable power consumption across the country, with the goal of reducing power wastage from non-fossil fuel sources.

China, the world’s biggest emitter of greenhouse gases, has pledged to bring emissions to a peak by 2030 and propel solar and wind power generating capacity to 1,200 gigawatts (GW) from 535 GW in 2020.

“Clean energy utilisation has seen obvious improvement in recent years. But in some regions, clean energy consumption policy is not... Read more..

Source: Reuters

IFRS Foundation Trustees announce working group to accelerate convergence in global sustainability reporting standards focused on enterprise value

The Trustees of the IFRS Foundation today announced the formation of a working group to accelerate convergence in global sustainability reporting standards focused on enterprise value and to undertake technical preparation for a potential international sustainability reporting standards board under the governance of the IFRS Foundation.

The working group will provide a forum for structured engagement with initiatives focused on enterprise value reporting, as described by the Trustees’ 8 March statement. It also responds to the 24 February statement by the International Organization... Read more..

Source: IFRS

Customs duty change: First auction fetches solar bid tariff of Rs 2.20 per unit

New Delhi: The first solar auction after the announcement of the basic customs duty on solar imports fetched a tariff of Rs. 2.20, much to the surprise of the renewable energy industry.

Currently, the lowest tariff discovered in the country is Rs. 1.99 per unit, which was also held by the Gujarat Urja Vikas Nigam Limited (GUVNL). Most industry players and agencies such as ICRA had anticipated a rise of around 25% from that benchmark, which would result in a hike of at least 45 to 50 paise per unit.

A couple of weeks ago, the Centre announced the imposition of a basic customs... Read more..

Source: Economics Times

Rajasthan to develop green energy corridor, generate 6,311 Mw power by 2023

Jaipur: The state plans to generate 6,311 MW of green energy by 2023 and Rajasthan Vidyut Prasaran Nigam Ltd will develop the necessary infrastructure for intra-state green energy corridor by setting up 765 KV grid sub-station at Jodhpur, 400 KV grid sub-station at Pokhran, Lohawat, 200 MW station at Sawa, Panchu.

The 120 KV grid sub-station at Sanwareej will be upgraded to a 220 KV sub-station.

Nigam chairman and managing director Dinesh Kumar said western Rajasthan is the hub of wind and solar power production in the state. These production centres had to be linked to the... Read more..

Source: Economics Times

BHEL secures first ever overseas turnkey contract for grid-connected Solar PV Power Plant

New Delhi, March 22: Bharat Heavy Electricals Limited (BHEL) has achieved yet
another milestone in international business by securing its maiden overseas turnkey
contract for a grid-connected 8 MWac Solar Photovoltaic (PV) power plant.

The solar farm will be set up by BHEL at Tamarind Falls, Henrietta (Phase II), Mauritius
on Engineering, Procurement and Construction (EPC) basis. The contract for the same
has been awarded to BHEL by CEB (Green Energy) Co. Ltd, Mauritius, a wholly owned
subsidiary of Central Electricity Board (CEB), Govt. of Mauritius.... Read more..

Source: BHEL

Gahlot urges commercial vehicle owners to shift 50% of fleet to electric mode

New Delhi: State transport minister Kailash Gahlot on Sunday urged commercial vehicle owners to transition 50% of their entire fleet to electric vehicles (EV) by 2023 and 100% fleet by 2025 as Delhi government’s Switch Delhi campaign to promote EVs entered its seventh week.
The seventh week of the campaign will focus on raising and creating awareness among one of the most important segments — commercial fleet vehicle owners comprising two-wheelers, three-wheelers, cab aggregators, goods carriers, freight vehicles, etc.
“To encourage and promote a smooth transition of commercial... Read more..

Source: Times of India