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Sustainability Outlook Headlines

bp plans UK’s largest hydrogen project

bp today announced that it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project would capture and send for storage up to two million tonnes of carbon dioxide (CO₂) per year, equivalent to capturing the emissions from the heating of one million UK households¹. The proposed development, H2Teesside, would be a significant step in developing ‎bp’s hydrogen business and make a major contribution to the UK Government’s target of developing 5GW of hydrogen production by 2030. With close proximity to North Sea storage... Read more..

Source: bp

Swiss Re announces ambitious climate targets; accelerates race to net zero

  • Swiss Re announces ambitious carbon reduction target for its investment portfolio of 35% by 2025
  • The Group moves ahead with full phase-out of thermal coal; new exit strategy in treaty re/insurance by 2030 (OECD) and 2040 (rest of the world)
  • As first multinational company, Swiss Re introduces a triple-digit real internal carbon levy for own operations Swiss Re today announced new measures to support the transition to a net-zero economy, encompassing both asset management and underwriting as well as its own operations.

Swiss Re’s Group Chief Executive... Read more..

Source: Swiss Re

Government unveils plans for wide-ranging Waste Prevention Programme

Plans to reduce waste have been unveiled on Global Recycling Day (Thursday 18 March) - including proposals for new measures that will ramp up action on fast fashion and hold manufacturers accountable for textile waste. These plans form part of a new wide-ranging Waste Prevention Programme for England which sets out how the Government and industry can take action across seven key sectors – construction; textiles; furniture; electrical and electronics products; road vehicles; packaging, plastics and single-use... Read more..

Source: GOV.UK

Smart Joules raises $4.1 million Series A from Sangam, ADB Ventures, Burman Family Office, Max I. Limited, cKinetics Accelerator and other marquee investors

Smart Joules, a pioneer in energy-efficiency-as-a-service, today announced it has completed a $4.1 million round of Series A funding aimed at expanding its offering across large commercial buildings and industries in India. The funding round saw participation by ADB Ventures (the Asian Development Bank's venture arm), Sangam Ventures, Max I. Limited, cKinetics Accelerator, Mr. Saket Burman from the Dabur family and 6 other marquee angels from India and the US. DPNC Advisors, the transaction advisory arm of... Read more..

Source: CISION

AIPEF Urges PM To Consult All Stakeholders On Electricity (Amendment) Bill 2021

The All India Power Engineers Federation (AIPEF) on Wednesday said it has urged Prime Minister Narendra Modi to consult all stakeholders on Electricity (Amendment) Bill 2021. 'The proposed changes in the Act 2003 have far-reaching changes and leaving the major stakeholders out of consultation is really shocking. The whole exercise to rush through Electricity (Amendment) Bill 2021 is thus nontransparent, undemocratic, and discriminatory in nature,' AIPEF spokesperson V K Gupta alleged in a statement. So, AIPEF... Read more..

Source: Business World

Greenko to set up Rs 30,000-crore hybrid project in Rajasthan

Renewable energy firm Greenko Energy is set to develop a Rs 30,000-crore hybrid project in Rajasthan of which one will be a pumped hydro storage project of 2,520 megawatt (MW) capacity estimated at Rs 11,882 crore. The proposed hydro project is to be developed at Shahpur, Baran district of Rajasthan. “The project when completed by 2023-24 will be the world’s largest renewable energy asset and would contribute to the state’s efforts as a model in the adoption of solutions for a sustainable future,” said Anil... Read more..

Source: The Economic Times

Andhra Pradesh to hold meet on energy efficiency funding on March 18

The state government will be holding the Investment Bazaar for Energy Efficiency in Visakhapatnam on March 18. The programme comes as a part of the government’s efforts to accelerate and facilitate financing of energy efficiency projects and technologies in industry sector. The event is being organised by the AP State Energy Conservation Mission (APSECM), with support from Bureau of Energy Efficiency (BEE) and Confederation of Indian Industry (CII). Key stakeholders including financial institutions, original... Read more..

Source: Energy Infra Post

Indo-Israeli JV IOC Phinergy Pvt Ltd to boost India's e-Mobility aspirations

Today, Shri Dharmendra Pradhan, Minister of Petroleum and Natural Gas & Steel, along with Minister of Energy, Israel, Dr. Yuval Steinitz , witnessed the launching of a Joint Venture (IOC Phinergy Private Limited) between Indian Oil Corporation Limited (Indian Oil) and Phinergy, an Israeli start-up company specializing in hybrid lithium-ion and aluminium-air/zinc-air battery systems. Based on domestically available aluminum, the joint venture plans to manufacture Aluminum-Air systems in India. Under this... Read more..

Source: PIB

Italy joins International Solar Alliance

Italy on Wednesday joined International Solar Alliance (ISA) upgrading its partnership with India in a year that coincided with G-20 Presidency and co-presidency of COP26 under Italy. Ambassador of Italy to India, Vincenzo de Luca, signed the Italian membership to the International Solar Alliance (ISA). The ISA, whose Secretariat is based in Delhi, was launched in Paris in 2015 by Prime Minister Modi on the occasion of the UN Climate Change Conference COP21 with the aim of creating a forum for the development... Read more..

Source: The Economic Times

Artificial photosynthesis to provide solutions for carbon capture and conversion

Scientists have found a method to mimic nature’s own process of reducing carbon dioxide in the atmosphere, namely photosynthesis, to capture excess carbon dioxide in the atmosphere. This artificial photosynthesis (AP) harnesses solar energy and converts the captured carbon dioxide to carbon monoxide (CO), which can be used as a fuel for internal combustion engines. In artificial photosynthesis (AP), scientists are essentially conducting the same fundamental process in natural photosynthesis but with simpler... Read more..

Source: PIB

New multifunctional heat sinks can dissipate heat from mechanical devices more efficiently

Indian Scientists have developed a multifunctional heat sink enabled by 3D printing, which can dissipate heat from mechanical devices at 50 percent enhanced rate compared to conventional sinks. Existing approaches for heat exchanging and heat sink achieve different functions using dedicated units. In the new technology, multiple functions have been integrated together in a single unit. It can also be used to develop heat pipes, vapour chambers, heat exchangers and noise reducing heat sinks. The technology... Read more..

Source: PIB

New Type of Bond Cuts Investor Bonus for Missing ESG Goals

So-called sustainability-linked bonds have been controversial because they often effectively reward investors when the issuer misses green or social performance goals. One Japanese firm is trying to change that. Nomura Research Institute Ltd. is selling such notes, but with a twist. Typically, the debt offers extra yield to investors if the borrower fails to meet ESG targets. In the case of NRI’s bonds, if it achieves its goals, the firm can redeem the debt early. That means that if NRI misses its targets,... Read more..

Source: Financial Post

Major blueprint to create green jobs and slash emissions from industry, schools and hospitals

An ambitious blueprint to deliver the world’s first low-carbon industrial sector and over £1 billion to cut emissions from industry, schools and hospitals has been announced by the Business and Energy Secretary today (Wednesday 17 March). Building on the Prime Minister’s 10 Point Plan for a Green Industrial Revolution published last year, the new Industrial Decarbonisation Strategy sets out the government’s vision for building a competitive, greener future for the manufacturing and construction sector. Part... Read more..

Source: GOV.UK

Apple’s $4.7 billion Green Bond spend is helping to create 1.2 gigawatts of clean power

Apple’s newly completed renewable projects, part of the company’s planned $4.7 billion Green Bond spend, are bringing clean energy to local communities while reducing carbon emissions. In 2020, Apple funded 17 Green Bond projects that will avoid an average of 921,000 metric tons of carbon emissions annually, which is equivalent to removing nearly 200,000 cars from the road. The projects will generate 1.2 gigawatts of renewable energy globally, with Apple adding over 350 megawatts of newly installed renewable... Read more..

Source: Apple

India achieves 92.97 GW of renewable energy capacity in Feb this year

India has achieved 92.97 GW of renewable energy (RE) capacity till February this year, while 50.15 GW is under various stages of implementation, Parliament was informed on Tuesday. India has set an ambitious target of achieving 175 GW of installed RE capacity (excluding large hydropower) by 2022.

"So far, 92.97 GW of cumulative installed RE capacity has been achieved as on February 2021. Further, projects of 50.15 GW capacity are under various stages of implementation and 27.02 GW are under various stages of bidding," Power and New & Renewable Energy Minister R K Singh said in... Read more..

Source: MNRE

Climate finance still not on table for developing countries: Javadekar

New Delhi: Climate finance of USD 100 billion a year and green technologies for mitigation actions promised in 2009 under the Paris agreement are still "not on the table" for developing countries, Environment Minister Prakash Javadekar said in Parliament on Monday. At the 15th Conference of Parties (COP15) of the United Nations Framework Convention on Climate Change (UNFCCC) in 2009, developed countries had committed to mobilising jointly USD 100 billion a year in climate finance by 2020 to address the needs of developing countries. This commitment has, since then, been a key element of... Read more..

Source: Economic Times

Chhattisgarh’s health ministry pledges to achieve net-zero carbon emissions by 2050

Chhattisgarh’s health minister on Tuesday said their department has committed to achieve net-zero carbon emissions by 2050. With this, it becomes the first Indian health system to endorse UNFCCC’s Race to Zero Campaign.

“Chhattisgarh is the first state in India to commit to the health sector’s role to take steps to counter impacts of climate change and become net zero in accordance with the Race to Zero campaign,’’ said T S Singh Deo, health minister, Chhattisgarh in a press release.

He added that the state has developed a plan to tackle the health impacts of climate change... Read more..

Source: Energy Infrapost

Solar powered EV charging station developed at IISc

Bengaluru: A solar photovoltaic powered electric vehicle (EV) charging station has been developed at the Indian Institute of Science (IISc) in this tech city, an official said on Tuesday.

"The zero-emission EV charging station powered by solar cells has been designed and developed at our sustainable transportation lab by the UK-based Greenencho Ltd under the Innovating for Clean Air (IfCA) programme of the Energy System Catapult, UK," the official said in a statement.

The custom-made off-grid system comprises a solar photovoltaic (PV) module, hybrid inverter, battery... Read more..

Source: Economic Times

Hindustan Unilever and HSBC India join hands to impact 12,000 individuals and save 21 million litres of water via its Suvidha Centers in Mumbai

Rapid urbanisation and the breakneck expansion of cities are turning out to be the biggest challenge for every big and growing city in the world. One of the major challenges faced by cities like Mumbai is providing the ever-growing population with amenities such as clean drinking water and access to proper hygiene and sanitation facilities. With the onset of the pandemic, it has become more critical than ever to provide hygiene and sanitation solutions to low-income urban households and especially to communities residing in congested arrangements.
A step in the right direction is... Read more..

Source: India Times

Cabinet approves closure of Handicrafts and Handlooms Export Corporation of India Limited

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the closure of Handicrafts and Handlooms Export Corporation of India Limited (HHEC), the Corporation, a Government of India undertaking under the administrative control of the Ministry of Textiles.

There are 59 permanent employees and 6 Management Trainees serving in the Corporation. All the permanent employees and Management Trainees will be given an opportunity to avail the benefit of a Voluntary Retirement Scheme (VRS) as per norms laid down by the Department of Public Enterprises.

The... Read more..

Source: PIB

CESL issues first-of-its-kind tender, seeks private participation for rural LED scheme

Convergence Energy Services Limited (CESL), a wholly-owned subsidiary of Energy Efficiency Services Limited, has issued a first-of-its-kind tender to procure 1 crore LED bulbs for its Gram Ujala program. Through this tender CESL intends to invite the participation of bidders for co-investment on a revenue-sharing basis. Under the Gram Ujala program, CESL will distribute high-quality LED bulbs, at an affordable cost in rural areas.

Explaining the tender Ms. Mahua Acharya, MD & CEO of CESL, said, “The objective is to involve private companies in the delivery of climate change... Read more..

Source: BWS Mart Cities

S&P Global Endorses Say on Climate, Will Bring Climate Plans to Shareholder Vote

Leading credit ratings, benchmarks and analytics provider S&P Global announced today its endorsement of the Say on Climate campaign, aimed at improving the transparency and accountability of company climate initiatives.

The Say on Climate campaign seeks to implement sustainable business practices around the globe by advocating for corporate climate action plans. The campaign is sponsored by The Children’s Investment Fund Management (TCI) and The Children’s Investment Fund Foundation (UK). By committing to the initiative’s principles, organizations agree to climate transparency... Read more..

Source: ESG Today

SEC’s Lee: “Climate and ESG are Front and Center,” Solicits Public Comments on Climate Disclosure Policy

In light of demand for climate change information and questions about whether current disclosures adequately inform investors, public input is requested from investors, registrants, and other market participants on climate change disclosure.

The Securities and Exchange Commission (SEC or Commission) has periodically evaluated its regulation of climate change disclosures within the context of its integrated disclosure system. In 2010, the Commission issued an interpretive release that provided guidance to issuers as to how existing disclosure requirements apply to climate change... Read more..

Source: SEC Gov

Delhi govt calls on corporates to promote EV policy

New Delhi: Delhi Transport Minister Kailash Gahlot, who is leading the 'Switch Delhi' campaign since last two months, on Sunday invited the corporate sector to raise awareness and promote electiric vehicle policy in the national capital.

"The Delhi government aims to further capitalise on the positive response received from several sections and now we will involve corporates to be a part of the campaign. I appeal to this segment to switch to EV cabs to facilitate the travel of their employees," Gahlot said.

Stressing on the need to include Delhi's corporates in the 'Switch... Read more..

Source: Economic Times

Adani Renewables bids Rs 2.77 for wind projects

Adani Renewable Energy on Monday placed the lowest bid of ₹2.77 per unit at an auction conducted by state-run Solar Energy Corp. of India Ltd (SECI) for setting up and supplying 1.2-gigawatt (GW) wind power capacity, two people aware of the matter said.

The second lowest bid of ₹2.78 per unit was placed by CDC Group Plc-backed Ayana Renewable Power, Evergreen Power and JSW Future Energy Ltd. While Adani Renewable and Ayana will get the contract to develop and supply 300 megawatt (MW) each, Evergreen and JSW Future will be awarded the contract for 150 MW and 450 MW capacity,... Read more..

Source: Live Mint