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Sustainability Outlook Headlines

SECI Asked to Compensate Maharashtra DISCOM for Delay in Commissioning Solar Projects

The Maharashtra Electricity Regulatory Commission (MERC) has asked the Solar Energy Corporation of India (SECI) to compensate the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the short supply of energy due to which it had look to other sources to fulfill its renewable purchase obligation (RPO).

It directed SECI to return the money if the bank guarantee was encashed after creating the payment security mechanism. It also asked SECI to reimburse the money accrued following the tariff reduction due to delay in commissioning of the projects.

MSEDCL had... Read more..

Source: Mercom India

Electric Vehicles in Delhi Clock 2 Crore Km as per CESL, Give Benefits Equivalent of Planting 1.70 Lakh Trees

New Delhi: Electric vehicles (EVs) in the national capital have reached a new milestone. The EVs deployed in the capital have managed to complete two crore kilometres on the road.

According to Convergence Energy Services Ltd (CESL), which is a subsidiary of government-owned Energy Efficiency Services Ltd (EESL), this new milestone has led to the reduction of 500 kg of particulate matter emissions in the city. EESL is a joint venture of NTPC Ltd, Power Finance Corporation, REC Ltd and Power Grid Corporation.

Since the deployment of EVs, around 3,573 tonnes of carbon emission... Read more..

Source: Live Mint

Tesla to set up electric car factory in Karnataka: BS Yediyurappa

BENGALURU: Electric car giant Tesla will set up its first manufacturing unit in Karnataka, chief minister BS Yediyurappa said on Saturday, while lauding the Union Budget and the benefits it held out for the state.

“American firm Tesla will open its electric car manufacturing unit in Karnataka,” CM in a statement.

TOI had reported on January 13 that the company owned by Elon Musk registered in the name of Tesla India Motors and Energy Private Limited at an address on Lavelle Road in Bengaluru’s CBD. The registration was done on Jan 8.

Tesla is known to be doing R... Read more..

Source: Economic Times

Travelers Europe says it will not insure Adani coal mine project

LONDON (Reuters) - Insurer Travelers Europe, which has a syndicate in the Lloyd’s of London market, does not plan to insure Adani Enterprises’ Carmichael thermal coal mine, it said on Friday.

Carmichael has provoked controversy in Australia because it would open up a new thermal coal basin at a time of growing concern over global warming in a region that is in need of jobs.

“Travelers does not insure, and has no plans to insure, the Adani Carmichael mine project,” a spokeswoman said in an emailed statement.

Adani has begun construction at Carmichael, which will... Read more..

Source: Reuters

Torrent Power’s 300 MW Gujarat Solar Tender Oversubscribed

Torrent Power Limited’s tender for the purchase of up to 300 MW of power from grid-connected solar projects in Gujarat has been oversubscribed, according to Mercom’s sources.

Adani Green Energy, Torrent Power, ReNew Power, Juniper Green Energy, and Vector Green Energy have placed bids against the tender, the sources said.

Torrent Power had issued an addendum modifying the capacity addition clause to allow for an additional capacity of 300 MW under the greenshoe option.

A greenshoe option is an over-allotment option offered to bidders when bids received exceed the... Read more..

Source: Mercom India

Power demand hits an all-time high of 189.6 GW

India’s daily power demand has been on a record-breaking trend during the month, touching 187.3GW on January 22 and 185.82GW on January 20.

With economic activity picking up pace again, India’s electricity demand hit a new high of 189.6 gigawatts (GW) on Saturday, surpassing the previous high of 188.4GW recorded on January 28.

India’s daily power demand has been on a record-breaking trend during the month, touching 187.3GW on January 22 and 185.82GW on January 20.

India’s peak demand in FY19 was at 168.74GW . The country has a power-generation capacity of 373.43GW... Read more..

Source: Hindustan Times

Aatmanirbhar Bharat: Wastes from Hyderabad's Bowenpally vegetable market generate biofuel, power

Dr BR Ambedkar Vegetable Market Yard in the Bowenpally area of Hyderabad is one of the biggest vegetable markets in South India. Along with the huge production of fresh stock, tonnes of vegetables also get wasted in the market, which is then transported to the landfills incurring a huge loss.

However, it is a thing of the past now. Keeping the Aatmanirbhar Bharat Mission in mind, an "anaerobic gas lift reactor", which is developed, designed and patented by CSIR-IICT wherein organic waste (vegetable waste and fruits waste ) is treated to generate not only electricity and biogas but... Read more..

Source: DNA India

Power sector employees threaten strike against Electricity Bill

New Delhi: The All India Power Engineers Federation (AIPEF) has demanded that the Electricity (Amendment) Bill, 2021 must be put out in the public domain before starting the discussion on it in Parliament.

AIPEF Chairman Shailendra Dubey in a statement here said that the Bill is not available on the Power Ministry website.

He said the Electricity (Amendment) Bill 2021 is included in the list of 20 new Bills to be placed in the current Budget session of Parliament. Now the Union Power Minister is to hold a video conference on February 17 with power secretaries of the state... Read more..

Source: Economic Times

Government of Bihar to chart low carbon development pathway with UNEP support

India’s Bihar State will pursue a climate resilient and low-carbon development pathway with the support of the UN Environment Programme (UNEP), the two entities announced today. UNEP will provide an array of support for the state’s climate goals, including through advocacy, developing climate analyses and supporting its government’s capacity to handle climate-related issues.

With an average of over 10 percent annual growth, Bihar has registered a higher growth than the Indian economy in the three years preceding 2019/20. However, Bihar is also a state that is vulnerable to climate... Read more..

Source: UNEP

Gadkari to launch India’s first CNG Tractor tomorrow; such tractors could save as much as Rs.one lakh rupees annually on fuel costs for farmers

India’s first-ever diesel Tractor, converted to CNG, will be formally launched by the Union Minister for Road Transport and Highways, Sh. Nitin Gadkari tomorrow. The conversion, carried out jointly by Rawmatt Techno Solutions & Tomasetto Achille India, will help farmers increase their income, by lowering costs, and help to create job opportunities in rural India. Union Ministers Union Ministers Sh. Dharmendra Pradhan, Sh. Narendra Singh Tomar, Sh. Parshottam Rupala and Gen.(Retd) VK Singh will also be present at the launch. The most important benefit for the farmer will be to save more... Read more..

Source: PIB

Prada Signs €90 Million Sustainability Linked Loan

Leading luxury goods company Prada announced today that it has signed a five-year, €90 million sustainability linked loan with pan-European Commercial Bank UniCredit.

Sustainability linked securities and loans are an emerging form of sustainable finance, with attributes including interest payments tied to an issuer’s achievement of key performance indicators (KPIs) and associated sustainability performance targets.

According to the terms of the agreement, Prada will enjoy the benefits of a lower interest rate on the loan if it reaches KPI targets relating to regeneration... Read more..

Source: Esg Today

Bangladesh and Burkina Faso approved as authorized issuance countries; I-REC authorizes issuance in Japan

Bangladesh and Burkina Faso have been approved as authorized issuance countries by the board of the International REC Standard Foundation (I-REC Standard).

Registrants will be able to register their devices with the local issuer following the creation of the Local Working Instructions (LWI). The LWI is an internal document that explains the issuance process the Issuers in the respective countries will follow to facilitate a robust scheme in the country. More general information on how production device owners or their representatives can register can be found on this page.

... Read more..
Source: Irec Standard

Only online payment of power bills in MP now

BHOPAL: From April 1, all the cash counters of the Madhya Kshetra Vidyut Vitaran Company Limited (MPCZ) which caters to energy consumers of 16 districts including state capital Bhopal will be closed.

Consumers will have to pay online monthly bills online only from April 1 onwards. As an alternate for cash counters consumers will have the option to pay from MP Online kiosks, common service centres, ATP machines and from the portal of the discom as well the Upay App launched by the discom, said sources from the company. Apart from this, agencies will be authorised at certain... Read more..

Source: Economic Times

VF Corporation Announces 2025 Sustainable Packaging Goals - eliminate all single-use plastic packaging, including polybags, by 2025

DENVER – February 9, 2021 – VF Corporation (NYSE: VFC), one of the world’s largest apparel, footwear and accessories companies, today announced its goal to eliminate all single-use plastic packaging, including polybags, by 2025. All remaining non-plastic packaging used by VF and its brands will be reduced, originate from sustainable sources, and be designed for reuse or recyclability.

“With a portfolio comprising some of the world’s most iconic apparel and footwear brands, we recognize we play an important role as environmental stewards and can serve as a catalyst for industry... Read more..

Source: VFC

Gulf Oil Lubricants signs pact to explore opportunities in EV charging space

Mumbai: Hinduja group company, Gulf Oil Lubricants India on Thursday said it has partnered with Gulf Oil International for investing and exploring opportunities in the electric vehicle charging space.

Gulf Oil Lubricants India Ltd (GOLIL) has entered into an agreement with Gulf Oil International (GOI) to participate and co-invest in Gulf Oil International's recent investment along with the Clean Growth Fund (CGF - a UK venture capital fund) in a UK-based smart energy and electric vehicle technology company Indra Renewable Technologies, a company release said.

The charging... Read more..

Source: Economic Times

Leading Fashion Players Implement Circular Systems in Bangladesh

Over 30 renowned fashion brands, manufacturers and recyclers are collaborating in a new initiative to capture and reuse textile waste in Bangladesh

February 10, 2021 - Global Fashion Agenda today announced the participants of the Circular Fashion Partnership, including the global brands Bershka, Bestseller, C&A, Gina Tricot, Grey State, H&M Group, Kmart Australia, Marks & Spencer, OVS, Pull & Bear, Peak Performance and Target Australia. The Circular Fashion Partnership is a cross-sectorial project led by Global Fashion Agenda, with partners Reverse Resources, The... Read more..

Source: P4g Partnerships

Countries need to raise ambition towards net-zero emissions: John Kerry, President Biden’s envoy

New Delhi: Countries need to raise ambition towards net zero emissions, as they prepare to negotiate the acceleration of climate action at the 26th Conference of the Parties (COP26) in Glasgow, said John Kerry, United States’ Special Presidential Envoy for Climate at the World Sustainable Development Summit (WSDS) 2021 on Thursday.

Regarding India’s new Hydrogen mission, Kerry added that it would make the country one of the incumbent leaders to lead a hydrogen-based economy.

“We must always consider pushing for climate change together.... Net-zero emission commitment from... Read more..

Source: Economic Times

Attracting International Retailers for Textile Requirements

Further, at least 30% of the value of procurement of manufactured/ processed products purchased shall be sourced from Indian micro, small and medium industries, which have a total investment in plant & machinery not exceeding US$ 2.00 million.

In order to work out annual sourcing plans with Bangladesh for increasing exports of textiles as part of strategic engagement, the India Bangladesh Textile Industry Forum (IBTIF) has been institutionalized. The 1st meeting of IBTIF was held on 4-5 February, 2020 under the leadership of Secretary (Textiles).

Ministry of Textiles... Read more..

Source: PIB

Amendments for enabling FPIs to subscribe to listed debt securities of REITs and InvITs

In the Budget speech 2021-22, it has been announced that “debtfinancing of InvITs and REITs by Foreign Portfolio Investors will be enabled by making suitable amendments in the relevant legislations. This will further ease access of finance to InvITs and REITs thus augmenting funds for infrastructure and real estate sectors.”

In this context, the Government of India as part of the Finance Bill, 2021 has proposed amendments in the Securities Contracts (Regulation) Act, 1956 and Securities and Exchange Board of India Act, 1992 with consequential amendments in the Securitisation and... Read more..

Source: PIB

Shell accelerates drive for net-zero emissions with customer-first strategy

“Our accelerated strategy will drive down carbon emissions and will deliver value for our shareholders, our customers and wider society,” said Royal Dutch Shell Chief Executive Officer, Ben van Beurden.

“We must give our customers the products and services they want and need – products that have the lowest environmental impact. At the same time, we will use our established strengths to build on our competitive portfolio as we make the transition to be a net-zero emissions business in step with society.

“Whether our customers are motorists, households or businesses, we will... Read more..

Source: Shell

U.S. Department of Energy Announces $100 Million for Transformative Clean Energy Solutions Supporting President Biden's Climate Innovation Agenda

WASHINGTON, D.C. — In support of the Biden Administration’s climate innovation agenda, the U.S. Department of Energy (DOE) today announced up to $100 million in funding for transformative clean energy technology research and development via its Advanced Research Projects Agency-Energy’s (ARPA-E) OPEN 2021 funding opportunity. The first of billions of dollars of DOE R&D opportunities to be announced this year, this funding will help identify cutting-edge, disruptive clean energy technologies to address the climate crisis.

The Department will also participate in the National... Read more..

Source: Energy Gov

Circular economy: MEPs call for tighter EU consumption and recycling rules

Parliament adopted comprehensive policy recommendations to achieve a carbon-neutral, sustainable, toxic-free and fully circular economy by 2050 at the latest.

The report, adopted today with 574 votes in favour, 22 against and 95 abstentions, is a response to the Commission’s Circular Economy Action Plan.

Binding 2030 targets are needed for materials use and our consumption footprint, covering the whole lifecycle of each product category placed on the EU market, MEPs stress. They also call on the Commission to propose product-specific and/or sector-specific binding targets... Read more..

Source: Euro Parl

Energy Minister Nilesh Cabral Announces E-Mobility Initiatives for Goa

Nilesh Cabral has emphasised on the importance of ushering in electric 2Ws in Goa, as he highlighted new e-mobility initiatives for the UT.
Nilesh Cabral, Minister of Power, Environment, New & Renewable Energy, Govt of Goa emphasised on the importance of ushering in electric two-wheelers in Goa, as he highlighted new electric mobility (E-mobility) initiatives in the UT as a part of the larger Convergence initiative by the Government of India.

The clean mobility scheme will be applicable for the first 10,000 electric two-wheelers sold in the state, which will reduce 5,000... Read more..

Source: Saur Energy

IFC Supports India’s Continuum in First Green Bond Offering in Singapore

New Delhi, February 11, 2021— One of India's leading renewable energy developers has tapped the International Finance Corporation (IFC) to anchor its first green bond, helping the country achieve its ambitions to reduce greenhouse gas emissions and support a resilient recovery from COVID-19.

IFC, a member of the World Bank Group, has subscribed to 10 percent of Continuum Green Energy Ltd.'s first green bond, which listed on the Singapore stock exchange on Feb. 10. The offering raised US$561 million and was heavily oversubscribed. Proceeds will primarily be used to refinance... Read more..

Source: Press Room

Gadkari calls for unified efforts to develop indigenous fuel cells for electric vehicles

Union Minister for Road Transport, Highways and MSMEs Shri Nitin Gadkari has called for adopting an integrated approach for developing indigenous fuel cells in the field of electric vehicles. He said, India today stands at the cusp of becoming a world leader in this field. The Minister urged scientists, academia and industry to harness hydrogen-based energy, it being a cost effective and easily available mode in the country. He indicated towards the lowering costs of solar power in India, which can help energise other modes of fuels.

Chairing a meeting of govt agencies and... Read more..

Source: PIB