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Sustainability Outlook Headlines

Hydrogen Energy Mission in 2021-22 for generating Hydrogen from Green Power sources to be launched Budget proposes to provide customers option to choose electricity supplier

Expressing serious concern over the viability of power distribution companies, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman in her budget speech of 2021-22, proposed an outlay of Rs 3,05,984 crore over 5 years for a revamped reforms- based result-linked power distribution sector Scheme. The Scheme will provide assistance to DISCOMS for infrastructure creation, including pre paid smart metering and feeder separation, up gradation of systems, etc. tied to financial improvements. In her budget speech, Smt. Sitharaman also pointed towards the monopolies of... Read more..

Source: PIB

Govt. announces launch of Mega Investment Textiles Parks (MITRA) scheme to make Indian textile industry globally competitive

The Government has proposed a scheme of Mega Investment Textiles Parks (MITRA) to enable the textile industry to become globally competitive, attract large investments, boost employment generation and exports. Presenting the Union Budget 2021-22 in the parliament today, Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman said that this will create world class infrastructure with plug and play facilities to enable create global champions in exports. MITRA will be launched in addition to the Production Linked Incentive Scheme(PLI). Commenting on Mega Investment Textiles... Read more..

Source: PIB

2021: Year of Indo-French alliance towards a Greener Planet

Minister for Environment,Forest and Climate Change, Shri Prakash Javadekar and Ms Barbara Pompili, the French Minister for Ecological Transition launched the Indo-French Year of the Environment in New Delhi today. The basic objective is to strengthen Indo-French cooperation in sustainable development, increase the effectiveness of actions in favor of global environment protection and give them greater visibility. Welcoming Ms Barbara Pompili on her maiden visit to India, Shri Prakash Javadekar emphasised on the significance of India-France alliance in working towards climate change. He... Read more..

Source: PIB

India, Denmark launch Green Strategic Partnership

Her Excellency Ms. Mette Frederiksen, Prime Minister of the Kingdom of Denmark and His Excellency, Mr. Narendra Modi, Prime Minister of the Republic of India, co-chaired a Virtual Summit between India and Denmark on 28 September 2020. 2. Prime Minister Modi and Prime Minister Frederiksen held an in-depth exchange of views in a warm and friendly atmosphere on bilateral relations, discussed the Covid-19 pandemic and global matters of interest to both sides, including climate change and green transition and reached common understanding with a view to accelerating sustainable economies and... Read more..

Source: PIB

Government plans $41 billion reform to revive ailing power utilities

India plans to spend Rs 3 lakh crore ($41 billion) on a new plan to revive regional electricity retailers, people with knowledge of the matter said, after a previous attempt failed to stem losses at the utilities. The spending would be spread over a few years and is likely to be unveiled on Feb. 1 as part of the government’s budget for the year starting April 1, the people said, asking not to be identified as the proposal isn’t public. The plan for carrying out reforms for reducing losses of state distribution utilities was sought by the nation’s power ministry and is under discussion.... Read more..

Source: Economic Times

Gadkari calls for R&D and shift towards alternate battery technologies for EVs

With electric vehicles fast becoming the new reality, Union Minister for MSME and Road Transport & Highways Sh. Nitin Gadkari has stressed the need to emerge as pioneers in developing leading battery and power-train technologies. Noting that the challenge we presently face is the control on strategic reserves of Lithium, which is used to manufacture Lithium-ion rechargeable batteries used in vehicles, the Minister has called upon the EV sector to shift towards a completely indigenous battery technology in the coming years. This could be metal-air, metal-ion and other potential... Read more..

Source: PIB

Mastercard Pledges Net Zero Emissions; Innovates for Collective Climate Action

Dubai, UAE; Jan. 27, 2021 – Mastercard is furthering its commitment to create a more sustainable and inclusive digital economy, with a pledge to reach net zero emissions by 2050. Understanding that economic growth cannot come at the expense of the planet, the company’s global action plan aims to continue to reduce greenhouse gases (GHG) by remaining focused on the decarbonization of its operations and bolstering its efforts to decarbonize its supply chains. Mastercard’s net zero goal builds upon its existing GHG commitments that align with the Business Ambition for 1.5°C pledge. The first... Read more..

Source: News Room

CDC lends to Tata Capital-IFC’s cleantech finance joint venture

UK-based development finance institution CDC Group has given a $30 million (about Rs 220 crore) lending facility to Tata Cleantech Capital Ltd (TCCL), the companies said in a statement. The proceeds will be used to offer loans to businesses that focus on e-mobility solutions as well as water and energy efficiency. The statement said that CDC’s facility will enhance efforts to avoid greenhouse gas emissions by increasing the deployment of money to energy efficiency and e-mobility solutions. This will also reduce freshwater consumption as the facility will be used to fund water-efficiency... Read more..

Source: VC Circle

EDEN Renewables India secures $165 million finance for 450-MW solar project

EDEN Renewables India has tied up with DBS Bank Ltd, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation (Singapore Branch) for USD 165-million (about Rs 1,200 crore) funding for its 450-megawatt peak solar power project in Rajasthan. “EDEN Renewables India (EDEN) has successfully secured financial close for its 450 MWp (megawatt peak) SECI III solar PV project, with a group of three major international banks,” according to a statement. The SECI III project has been successfully financed through a green limited recourse project term loan of USD 165 million provided by DBS Bank... Read more..

Source: Financial Express

Danish retailer ‘Jysk’ pledges ‘sustainable’ cotton by 2024

AARHUS – Danish homeware retailer Jysk has pledged that by 2024, its textile-based products will use only ‘sustainable’ cotton, that’s either organic, recycled or sourced through the Better Cotton Initiative (BCI). “We have been focusing on cotton for a long time,” said the firm’s communications and CSR director, Rune Jungberg Pedersen. “Now we are ready to take the next big step regarding the rest of the assortment and set a specific goal, which includes all of our textile products.”

Source: Eco Textile

Chandigarh: 5,000 smart meters on new control centre

CHANDIGARH: The UT administration's engineering department has installed more than 5,000 smart electricity meters across the city under the Smart Grid Project and linked these with the new command and control centre. Under this pilot project, the UT administration has identified 30,000 devices to replace with these smart meters. Once the plan works, the engineering department will extend it to the entire city, and replace all power meters. The lone electricity sub-division chosen for this pilot project covers sectors 29, 48, 47, 29, and 31, besides the Industrial Area Phases I and II,... Read more..

Source: Economic Times

Textiles Committee, Ministry of Textiles signs MoU with M/s Nissenken Quality Evaluation Centre, Japan to boost export of Textile and Apparel to Japanese market

A formal Memorandum of Understanding (MoU) signing ceremony was heldbetween Textiles Committee, Ministry of Textiles, Government of India and M/s. Nissenken Quality Evaluation Centre Japan, through video conferencing here today. The Union Cabinet chaired by Hon’ble Prime Minister in its meeting held on 2nd September, 2020 had given the approval for signing of a Memorandum of Understanding (MoU) between the two organisations. The signing ceremony was Presided over by Hon’ble Minister of Textiles and Minister of Women and Child Development , Smt. SmritiZubinIrani on the Indian side and by... Read more..

Source: PIB

India signs Strategic Partnership Agreement with International Energy Agency (IEA)

The Framework for Strategic Partnership between the International Energy Agency (IEA) members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability.This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of the IEA. The MoU was signed by Mr. SanjivNandanSahai, Secretary (Power) from the Indian side and Dr.FatihBirol, IEA Executive Director from the IEA side. The contents of the Strategic partnership... Read more..

Source: PIB

Society of Manufacturers of Electric Vehicles calls for rejig of FAME II or reintroduction of FAME I

New Delhi: Ahead of the upcoming Union Budget, Society of Manufacturers of Electric Vehicles (SMEV) has asked Finance Minister Nirmala Sitharaman to either rejig the FAME II scheme or reintroduce FAME I, saying the programme meant to promote EVs in its second avatar has been able to achieve less than 10 per cent of its target. The Rs 10,000-crore FAME-II scheme which is to be implemented over a period of three years, came into effect from April 1, 2019. It is the expanded version of FAME India I (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) which was launched... Read more..

Source: Economic Times

Andaman Lt Governor flags off electric buses; will curb pollution on island

Admiral (Retd.) D K Joshi, the Lieutenant Governor of Andaman and Nicobar Islands, today flagged-off fleet of electric buses. The project for 40 electric buses is being executed by NTPC Vidyut Vyapar Nigam Limited(NVVN Limited), a 100% subsidiary of NTPC Limited, a PSU under Ministry of Power, Government of India. The introduction of electric buses in the Island union territory will help cut down tail pipe emissions as well as provide comfortable public transport. In addition to the above project, NVVN has emerged as successful bidder for providing turnkey solution for 90 electric buses in... Read more..

Source: PIB

Petroleum Minister Shri Dharmendra Pradhan calls for a new paradigm of clean energy; exhorts industry leaders to drive transformation

Union Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today said that the Indian Oil and gas sector will play an important role in the making of an Aatmanirbhar Bharat,fulfilling not only domestic requirements but also meeting the global expectations. Speaking at the FIPI Awards 2020 ceremony, he said that We must ensure energy security for our people and provide energy which is affordable, accessible, clean, efficient and sustainable. He said that we shall move towards making petroleum industry a clean energy industry. The Minister said that there are a few... Read more..

Source: PIB

India Ratings Revises Outlook on Rajkot (Gujarat) Solar’s Bank loans to Stable; Affirms ‘IND BBB+’

Improved generation in FY21: RGSEPL’s PLF improved by 4.21% yoy in 7MFY21 and was in line with the annual P90 estimate. The PLF sustaining at P90 level is a key rating monitorable. Low Offtake Risk: The rating reflects high revenue visibility, indicated by a long-term, fixed-price power purchase agreement (PPA) with Madhya Pradesh Power Management Company Limited (MPPMCL) for the entire capacity. In case MPPMCL refuses to buy power under the PPA, RGSEPL is allowed to sell power to third parties. If the tariff realised through third-party sale is lower than INR5.46/kWh (the contracted PPA... Read more..

Source: India Ratings

India among top 10 most affected countries in Global Climate Risk Index 2021, says environmental think tank Germanwatch

The Global Climate Risk Index 2021 analyses to what extent countries and regions have been affected by impacts of weather-related loss events (storms, floods, heat waves etc.). Human impacts (fatalities) and direct economic losses were analysed. The most recent data available — for 2019 and from 2000 to 2019 — were taken into account. The countries and territories affected most in 2019 were Mozambique, Zimbabwe as well as the Bahamas. For the period from 2000 to 2019 Puerto Rico, Myanmar and Haiti rank highest. This year’s 16th edition* of the analysis reconfirms earlier results of the... Read more..

Source: German Watch

Bandhwari plant trommels not used fully: CPCB

GURUGRAM: The Central Pollution Control Board, in a recent report submitted to the National Green Tribunal (NGT), has said the MCG has not been able to utilise the full capacity of trommels installed at the Bandhwari waste plant. Every day nearly 2,000 tonnes of solid municipal waste — 1,200 tonnes from Gurugram and 800 tonnes from Faridabad — gets added to the site, which already has about 35 lakh tonnes of untreated garbage. According to the report, 1,17,214 tonnes of legacy waste have been bio-remediated till December 31, last year. Also, of the total 33 lakh tonnes waste, only 66,982... Read more..

Source: Green Tribunal

Tech Mahindra Becomes the Only Indian Organisation Recognized amongst the ‘2021 Global 100 Most Sustainable Corporations in the World’ by Corporate Knights

New Delhi - January 25, 2021: Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions, has been recognized as the only Indian organisation amongst the ‘2021 Global 100 Most sustainable corporations in the World’ by Corporate Knights, a media, research and financial information products company which produces rankings and financial product ratings based on corporate sustainability performance. Tech Mahindra is ranked #1 in India and #72 globally in the list of World’s 100 Most Sustainable Corporations for delivering superior... Read more..

Source: Mahindra

IKEA lowers climate footprint helped by pandemic and energy-efficient light bulbs

STOCKHOLM (Reuters) - Furniture giant IKEA said it is on track to cut its emissions further after an 11% reduction in its climate footprint in the 12 months to the end of August, partly because of temporary store closures. Brand owner Inter IKEA said on Monday carbon emissions throughout the value chain - from the production of raw materials to customers’ use and disposal - fell in its fiscal year (FY) 2020 to 21.2 million tonnes of CO2 equivalent. The reduction per euro of retail sales - a measure that takes into account that government lockdowns meant most stores closed for several weeks... Read more..

Source: Truters

Delhi Govt panel brainstorms with stakeholders on EV financing

New Delhi: The Dialogue and Development Commission (DDC) of Delhi government hosted a consultation on Monday with leading financing institutions, vehicle manufacturers, delivery service providers and fleet aggregators to discuss the various financing challenges in the adoption of electric vehicles in Delhi. The meeting was held under the umbrella of Delhi EV Forum, which held its first meeting earlier on December 18, 2020. “We are committed to accomplishing chief minister Arvind Kejriwal’s vision to make Delhi the EV capital of India. Considering that lack of financing options for electric... Read more..

Source: Economic Times

BofA, Mastercard, Salesforce, IBM to Report ESG Metrics Championed by World Economic Forum

The push for a global set of ESG standards is bearing fruit. Bank of America (BAC), Mastercard (MA), (CRM), and IBM (IBM) are among 55 companies that will report on environmental, social, and governance metrics championed by the World Economic Forum and its International Business Council, according to a statement from the group. The metrics are a set of 21 universal disclosures focused on people, planet, prosperity, and governance, and they are made to be comparable regardless of a company’s industry or domicile. They are aimed at bolstering transparency and helping... Read more..

Source: Barrons

Vehicle Scrappage Policy to be implemented from April 2022: State Govt approvals pending

The Indian Government has been working on a vehicle scrapping policy for some time. It is being done to help remove old and unsafe vehicles which are still plying on Indian roads. In addition to curbing tailpipe emission causing air pollution by their engines and also reduce gross fuel consumption. Nitin Gadkari, minister of road transport and highways, has approved a new “Vehicle Scrappage Policy” to incentivise user to scrap old vehicles and buy new ones. The ministry released a statement; “The Minister approved the policy of deregistration and scrapping of vehicles owned by Government... Read more..

Source: Financial Express

Green tax to be imposed on older vehicles soon, to clean up the environment by phasing out unfit and polluting vehicles

The Union Minister for Road Transport and Highways Sh. Nitin Gadkari has approved a proposal to levy a “Green Tax” on old vehicles which are polluting the environment. The proposal will now go to the states for consultation before it is formally notified. The main principles to be followed while levying the Green Tax are : Transport vehicles older than 8 years could be charged Green Tax at the time of renewal of fitness certificate, at the rate of 10 to 25 % of road tax; Personal vehicles to be charged Green Tax at the time of renewal of Registration Certification after 15 years; Public... Read more..

Source: PIB