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Sustainability Outlook Headlines

India is looking towards kick-starting the hydrogen ecosystem development, says Shri Dharmendra Pradhan; Petroleum Minister addresses the Hydrogen Economy- New Delhi Dialogue

Union Petroleum and Natural Gas & Steel Minister Shri Dharmendra Pradhan today said that India is looking towards various colors to kick-start the hydrogen ecosystem development. Addressing the Hydrogen RoundTable on “Hydrogen Economy: New Delhi Dialogue – 2021”, he said that in India, we have taken various initiatives with respect to the greater use of hydrogen in India’s energy mix. Government of India recently announced the National Hydrogen Mission in the Union Budget 2021 for making a hydrogen roadmap for the country. “We are working on a pilot project on Blue Hydrogen, Hydrogen... Read more..

Source: PIB

US, India to launch hydrogen task force under Strategic Energy Partnership

NEW DELHI : India and the United States will launch a Hydrogen Task Force under the Strategic Energy Partnership between the two countries soon, announced US Deputy Secretary of Energy, David M Turk.

He made the announcement at the inaugural edition of the Hydrogen Roundtable titled "Hydrogen Economy: New Delhi Dialogue - 2021".

"We are working together with partners in India to launch a US-India Hydrogen Task Force under the US-India Strategic Energy Partnership", said Turk.

"The United States is committed to achieve net-zero emissions by 2050. We will focus on... Read more..

Source: Live Mint

India eyes plan to blend hydrogen in natural gas grid; sees biomass as H2 feedstock

Singapore — India envisages a bright future for hydrogen in the next 15-20 years, supplementing natural gas via blending in the grid and in compressed natural gas for vehicles, the president of the Hydrogen Association of India said April 15.

Speaking at the virtual conference "Hydrogen Economy: New Delhi Dialogue - 2021," R. K. Malhotra said India has already been experimenting with blending hydrogen into CNG, but that the current cost of the blend was higher than the unblended CNG, because "the cost to produce hydrogen is much higher than the cost of the natural gas."

He... Read more..

Source: SP Global

BRFL textiles pioneers water-free fabric dyeing with new sulphur dyeing process

BRFL Textiles Private Limited’s new continuous textile dyeing method has enabled it to eradicate water from its process, the business announced in a press release on April 15. The company, which operates India's largest single-roof ‘state-of-the-art’ fabric processing facility, announced that it is the first business in the textile sector to use this technology.

The business’ energy co-generation design reuses 48 tonnes of steam per hour which enables it to save 250 tonnes of coal per day and significantly reduce its carbon footprint, according to its press release. Its plant in... Read more..

Source: Fashion Network

Carbon tax could help Asian countries hit climate targets: IMF

1. Introduction and Outlook

Good evening! [wăn shàng hăo]. I would like to thank Governor Yi Gang for inviting me here today, and to the People’s Bank of China for co-hosting this important event.

Given the challenges facing us at this pivotal moment, I would like to draw inspiration from three Chinese sayings.

The first is this: “Dispel the clouds and see the sun”.

Last year, the world was clouded by the worst pandemic in a century and the deepest recession since the Second World War.

Now the outlook is starting to become sunnier. With the recovery... Read more..

Source: IMF

S. Korea eyes to set global standards for EV wireless charging: 50kW charging, 80% charging in an hour

South Korea said Thursday it will ramp up efforts to promote a homegrown charging technology for electric vehicles (EVs) as an international standard, as the country plans to penetrate deeper into the growing sector.

The Korean Agency for Technology and Standards held a virtual meeting with experts from home and abroad to further foster the wireless charging technology for EVs with a capacity of 50 kilowatts, according to the Ministry of Trade, Industry, and Energy.

South Korea proposed the technology as a global standard to the International Electrotechnical Commission last... Read more..

Source: Korea Herald

Facebook signs renewable energy deal in India; says it has reached net zero

Facebook (FB.O) has signed a deal to buy renewable energy in India from a local firm's wind power project, the social media giant's first such deal in the South Asian nation, the companies said on Thursday.

Facebook also said that as of 2020, the company's global operations were supported wholly by renewable energy and that it has reached net-zero emissions.

The 32 megawatt wind power project, located in southern Karnataka state, is part of a larger portfolio of wind and solar projects that Facebook and Mumbai-based CleanMax are working on together to supply renewable power... Read more..

Source: Reuters

Inaugural Edition of The Hydrogen Economy – New Delhi Dialogue 2021; Hydrogen Roundtable being Organised by The Energy Forum and FIPI under the aegis of Ministry of Petroleum and Natural Gas on 15th April 2021

The Energy Forum (TEF) and the Federation of Indian Petroleum Industry (FIPI), under the aegis of Ministry of Petroleum and Natural Gas, Government of India, are organising a Hydrogen Roundtable titled “Hydrogen Economy- the Indian Dialogue-2021” in a virtual mode on 15th April, 2021 to discuss emerging hydrogen ecosystems and exploring opportunities for collaboration, cooperation and coalition.

As the world chases its international climate commitments and takes steps to counter climate change, Hydrogen is gaining increasing importance as a source to bridge energy gaps and also as a... Read more..

Source: PIB

India will raise climate ambitions but 'not under pressure': Javadekar

Union Environment Minister Prakash Javadekar on Wednesday said India will raise its climate ambitions but "not under pressure", and that it will not allow anybody to forget their historical responsibility.

However, the environment ministry later issued a clarification stating Javadekar "had only said that India will 'over achieve' its commitment made in Paris and not said that India will 'raise its ambitions'".

India is suffering because of the mistakes of others and "is not responsible for climate change that is happening", he said at a climate conference at the French... Read more..

Source: Business Standard

India, France to push joint initiatives on climate change

New Delhi, Apr 14 (UNI) India and France on Wednesday agreed to further joint initiatives on solar power, eliminating single use plastic and green hydrogen.

Environment and Climate change Minister Prakash Javadekar had a bilateral meeting with Minister for Europe and Foreign Affairs of France Jean Yves Le Drian in which both discussed boosting global action on climate change.

2021 is the year of Indo-French year of environment and the ministers' deliberation took place ahead of the Glasgow summit in June.

Speaking at a panel organised at the Embassy of France,... Read more..

Source: Uni India

Oberoi Group signs MoU with EESL to further sustainability initiatives

New Delhi: Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power, announced it has signed an MoU with The Oberoi Group to augment its sustainability initiatives.

EESL said that it will assist The Oberoi Group in implementing several energy-efficient initiatives, including clean energy systems across its properties through its Building Energy Efficiency Program (BEEP).

These initiatives will help reduce the group’s overall carbon footprint and strengthen its energy conservation efforts, the company said.

Under the contract, EESL... Read more..

Source: Economic Times

Green hydrogen auctions, purchase obligations in the offing

The government is planning to use 2,000 mega-watt (MW) solar and wind power capacity for hydrogen production. It will also hold green hydrogen auctions as part of a broader plan to curb greenhouse gas emissions.

Apart from industrial use, hydrogen technology can also be used to store electricity and potentially to run vehicles.

Sources said plans were also afoot to make it mandatory for user industries like fertilisers and petroleum refineries to purchase 10% of their hydrogen requirements from domestic green hydrogen sources.

The country currently consumes about 5-6... Read more..

Source: Financial Express

Apple announces support for mandatory climate change disclosure rules

“Today’s bold announcement from Apple affirms that there is support from companies to mandate the disclosure of comprehensive, decision-useful climate-related information that financial markets, investors and stakeholders need,” said Mindy Lubber, CEO and President of Ceres, which has long called for mandatory corporate disclosure of climate risks. “In becoming the first major U.S. publicly traded company to come out in favor of the SEC issuing mandatory climate disclosure rules, Apple is demonstrating their commitment to transparency and support for necessary regulatory change.”

“... Read more..

Source: Ceres

Bank of America boosts its ESG financing goal to $1 trillion by 2030

Bank of America last week more than tripled its environmental financing goal, saying it wants to deploy more than $1 trillion by 2030 to accelerate the transition toward a low-carbon, sustainable future, according to a Thursday press release.

Since launching its environmental business initiative in 2007, the bank said, it has financed $200 billion in sustainable activities, including asset-based lending, tax equity investments and capital raising in the energy and transportation sectors, among others. It pledged to back $300 billion in low-carbon activities between 2019 and 2030.... Read more..

Source: Utility Dive

Centre extends FAME-II certificate validity to one year from date of issue

New Delhi: The Department of Heavy Industries on Monday extended the validity of FAME-II certification of electric vehicles (EV) for obtaining subsidies to one year from the date issuance instead of a blanket expiry on 31 March.

This essentially means that automakers who received certification later than 1 April 2020 for receiving subsidies under the scheme will continue getting subsidies till 12 months from the date of issuance of the certificate and will then have another one month to renew their certification.

Faster Adoption and Manufacturing of hybrid and Electric... Read more..

Source: Economic Times

Banks’ refusal to fund hits solar scheme for farmers

Centre’s Kusum scheme aimed at helping farmers with extra income from their barren and semi-fertile land through solar projects is facing hurdles from banks who are reluctant to finance the units.

Out of the 170 farmers who have signed agreements with discoms to set up solar plants, only around 15 have started working on the projects and the rest are delaying it as they are unable to tie-up bank funding.

A senior official at Rajasthan Renewable Energy Corporation Ltd (RRECL) said banks have developed cold feet to finance the projects because of two reasons.

First, he... Read more..

Source: Energy Infrapost

Gujarat Successfully Runs Coal Project at 40% Capacity to Support Renewable Integration

The Gujarat State Electricity Corporation Limited (GSECL) has successfully managed to operate its 500 MW Ukai unit under its coal-based power project at 40% of its capacity during a recently conducted low load test run.

This is the first time the state power corporation has been able to run its unit at the lowest possible load points while still maintaining all the other operating parameters under stable conditions and without any supplementary oil firing support.

With United States Agency for International Development’s help, this move is now the state’s first successful... Read more..

Source: MNRE Gov

‘Subsidy for e-vehicles in 2 months’

PONDA: Power minister Nilesh Cabral on Tuesday said that the subsidy scheme that the government would roll out in 2 months time for purchase of electric vehicles will be opened to government employees too.

While the government will give a 20 per cent subsidy, the bike or car company will share another 20 per cent subsidy and the 15 percent value would be of the existing vehicle even if scrapped, he said at a function in Ponda on Tuesday.

Source: Times of India

China and EU to Collaborate on Green Investment Standards

The People’s Bank of China announced a collaboration with the European Union to adopt a common taxonomy for green investments.

On 21 March 2021, the People’s Bank of China (PBC) announced that China is working with the European Union to adopt a common green taxonomy across the two markets later this year. PBC Governor Yi Gang, speaking at the China Development Forum, said strengthening the nation’s green finance system was the central bank’s priority for the next five years.[1] He emphasised that, in order for China to meet its 30/60 goal of peaking carbon emissions by 2030 and... Read more..

Source: Lexology

BlackRock and Temasek Launch Decarbonization-Focused Private Fund Partnership

SINGAPORE & NEW YORK--(BUSINESS WIRE)--Temasek and BlackRock, Inc. (NYSE:BLK) today announced that they have agreed to establish a partnership called Decarbonization Partners. The partnership will launch a series of late stage venture capital and early growth private equity investment funds that will focus on advancing decarbonization solutions to accelerate global efforts to achieve a net zero economy by 2050.

BlackRock and Temasek intend to commit a combined US$600 million in initial capital to invest in multiple funds launched by the partnership. The funds will also raise... Read more..

Source: Business Wire

India-Denmark join hands through Atal Innovation Mission for global collaboration towards world class innovative solutions addressing water challenges & SDGs

As part of Indo-Danish bilateral Green strategic partnership, India is all set to take a giant leap towards building a world class innovation ecosystem as Atal Innovation Mission (AIM) of India’s premier policy think tank NITI Aayog and Embassy of Denmark to India today officially announced their collaboration.

Under this ambitious partnership,Innovation Center Denmark in India will collaborate with AIM to support various current and future initiatives of AIM, NITI Aayog and its beneficiaries in India as well as develop global innovation Green economy partnerships addressing SDG... Read more..

Source: PIB

Launch of India Energy Dashboards (Version 2.0) by NITI Aayog

The India Energy Dashboards Version 2.0 was launched by Dr Rajiv Kumar (Vice Chairman, NITI Aayog), Dr V K Saraswat (Member, NITI Aayog), Shri Amitabh Kant (CEO, NITI Aayog) and Dr Rakesh Sarwal (Additional Secretary, NITI Aayog). Secretaries from Ministry of Coal, Ministry of Power, Ministry of Petroleum and Natural Gas, and Ministry of New and Renewable Energy attended the launch event.

India Energy Dashboards (IED) is an endeavour to provide single-window access to the energy data for the country. Energy data published/provided by Central Electricity Authority, Coal

... Read more..

Source: PIB

India denounces attempts to link climate issues to economic recovery amid pandemic

India has denounced attempts to link climate issues to economic recovery amid the coronavirus pandemic at the forthcoming G20 talks, saying it will impose a huge developmental cost on developing countries. The US administration has been pushing for a strong climate agenda as part of the process of recovery from the pandemic. Senior government officials feel that imposing “green” conditionalities on trade, investment, financing for development, etc. amid the “worst economic impact of a lifetime would be adding insult to injury as far as poor and developing countries are concerned”.

... Read more..

Source: Financial Express

India to get an integrated day-ahead energy market for electricity, renewable energy by August

India has decided to have a unique integrated day-ahead market for conventional electricity and renewable energy as a major boost to green plants that will have two options to sell their power.

Integration of the existing day-ahead market for conventional power with renewable energy would mean there will be a two-stage day-ahead market with separate price formation for green energy, a top government official said.

“In the first stage, exclusive trade in renewable energy will take place. In the second stage, unsold renewable energy, if opted by the generator in his initial bid... Read more..

Source: Energy Infrapost

SEC Identifies Potentially Misleading Claims by Funds Regarding ESG Investing Practices

Investor demand for investment products and financial services that incorporate environmental,
social, and governance (“ESG”)1 factors has increased in recent years. In response to this
demand, a range of investment advisers have offered several ESG investment options, including
registered investment companies and pooled investment vehicles, e.g., private funds
(collectively, “funds”), and separately managed accounts. Today we are issuing this Risk Alert
to highlight observations from recent exams of investment advisers, registered investment
companies,... Read more..

Source: SEC Gov