You are here

Sustainability Outlook Headlines

RBI mulls Niti Aayog proposal to categorise loans for electric vehicles as priority sector lending

The Reserve Bank of India is considering a proposal from the government’s policy think tank Niti Aayog to categorise loans to purchase electric vehicles under the priority sector lending (PSL) segment. 

According to a report in the Economic Times, Niti Aayog chief executive Amitabh Kant has confirmed that the government’s policy think tank has given this proposal.

If the proposal is accepted, it will help the segment get credit at lower interest rates. Currently, these loans are given under the auto retail category, but lenders are wary about financing purchase of... Read more..

Source: Times Now

Electric vehicles can save ₹20 lakh crore by 2030: Union Minister

Stating that the Indian Auto sector must go global and look for a major share of the global electric auto market, Union Minister for Heavy Industries Mahendra Nath Pandey on Saturday said that the growth of the Auto Industry will help achieve India's commitment for "Panchamrita" given by Prime Minister Narendra Modi in COP 26 and give huge employment opportunities to Indian youth.

According to a statement by the Ministry of Heavy Industries, addressing the Round Table Conference organized by the Ministry here today, the minister said, "There is a disruptive change happening in the... Read more..
Source: Live Mint

Sebi in process of stipulating disclosures specific to ESG scheme: Ajay Tyagi

Markets regulator Sebi is in the process of putting in place disclosure for mutual fund schemes with the ESG (environment sustainability and governance) theme, its chief Ajay Tyagi said.

Also, the regulator is examining the disclosure of ESG related aspects in the rating press release by credit rating agencies, he added.

Speaking at the inauguration of an ESG Centre for Research and Innovation at IIM Ahmedabad, Tyagi stressed on the need of in depth research on ESG norms with focus towards developing high quality, objective, content-specific rating matrices.

... Read more..
Source: Economic Times

Centre may shut all thermal plants near Delhi for now

Facing a 24-hour ultimatum from the Supreme Court, the environment ministry on Thursday held multiple meetings with officials of the Commission for Air Quality Management (CAQM) and Central Pollution Control Board (CPCB) on additional measures, including shutting down of all thermal power plants within a 300 km radius of Delhi for a limited period, which can be taken to bring down the level of air pollution immediately.

Though the ministry and the CAQM will take the final call on new measures before submitting their response to the apex court on Friday, officials discussed the... Read more..

Source: Economic Times

India achieves target of 40 % installed electricity capacity from non- fossil fuel sources

At COP 21, as part of its Nationally Determined Contributions (NDCs), India had committed to achieving 40% of its installed electricity capacity from non-fossil energy sources by 2030. The country has achieved this target in November 2021 itself. The country’s installed Renewable Energy (RE) capacity today stands at 150.05 GW while its nuclear energy based installed electricity capacity stands at 6.78 GW. This brings the total non-fossil based installed energy capacity to 156.83 GW which is 40.1% of the total installed electricity capacity of 390.8 GW In line with the Hon’ble Prime... Read more..

Source: PIB

India needs additional $1 trillion to achieve its climate goals: Govt to Rajya Sabha

India will require approximately $1 trillion by 2030 to achieve the India’s national goal on climate change which was announced at the Glasgow Climate Change Conference (COP 26) last month, the Union environment ministry informed the Rajya Sabha on Thursday.

To be sure, the announcements made at Glasgow are not yet nationally determined contributions (NDCs). Under the Paris Agreement, India submitted its NDCs in 2015 with three quantifiable targets, and they remain the same.

These included reducing the emissions intensity of its Gross Domestic Product (GDP) by 33 to 35% by... Read more..

Source: Hindustan Times

UK body CDC looks to invest $3 billion in India; climate change solutions a priority

The British government's development finance institution CDC is looking to pump in up to $3 billion in India over the next five years, its global chief executive Nick O'Donohoe told ET.

A large part of this investment - in equity and debt across asset classes - will flow into projects that help tackle climate change issues, O'Donohoe said in an exclusive interaction.

The investor is also likely to increase its exposure to early stage investing in the country, he added. Last week, CDC rechristened itself as British International Investment. Its total current portfolio value in... Read more..

Source: Economic Times

ONGC inks pact with SECI to develop renewable, ESG projects

In a bid to strengthen its footprint in the renewable space, particularly solar energy, state-owned Oil and Natural Gas Corporation (ONGC) on Thursday signed an agreement with Solar Energy Corporation of India (SECI) to scale up its clean energy projects. The Memorandum of Understanding (MoU) was signed by ONGC

Chairman and Managing Director Subhash Kumar and SECI Managing Director Suman Sharma, a company statement said.

"The MoU provides a broad, overarching framework for ONGC and SECI to collaborate and cooperate for undertaking renewable energy projects including solar,... Read more..

Source: Economic Times

HUL switches to green fuel; becomes coal free across operations

Leading FMCG firm HUL on Thursday said it has switched to green fuel alternatives such as biomass and biodiesel and has eliminated the usage of coal across its operations.
The company has collaborated with biomass suppliers and local farmers to ensure sustainable supply of green fuel and has made the necessary changes for the renewable transition in its coal-fired boilers, said an HUL statement.
Besides, the shift from coal to renewable energy sources has also resulted in savings for the company, it added.
This is a part of an initiative taken by its parent Anglo-Dutch... Read more..

Source: Times of India

Indian biogas industry can help reduce waste at landfill sites by 50 pc: IBA

Indian Biogas Association (IBA), an industry body of operators, manufacturers and planners of biogas plants, on Thursday said that the biogas industry can help reduce waste landing at landfill sites by almost 50 per cent in next three years. The per capita generation of waste in India stands at 0.4 kg, out of which roughly 50 per cent is organic in nature and can be potentially diverted to biogas plants, stated IBA in a statement.

According to it, estimated waste generated in India is roughly 2.5 lakh metric tonnes per day and presently over 85 per cent out of the total generated... Read more..
Source: Economic Times

L&T, Goldman-backed ReNew tie up for green hydrogen projects in India

Indian engineering conglomerate Larsen & Toubro said on Thursday it will jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power.

The partnership between L&T and the renewable energy company is the latest big-ticket entry into the green hydrogen production space in India, following announcements of ambitious plans by Mukesh Ambani and Gautam Adani, two of Asia's richest men.

Source: Reuters

TANGEDCO to set up solar power parks in each TN district

As part of efforts to address the growing demand, Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has proposed to set up Solar Power Parks (SPP) in each district. For this, the land identification process was initiated by the Public Sector Undertaking (PSU).

TANGEDCO sources in Chennai said, “Shortage of coal is a major concern across the country. The government of India will have to spend more money to import coal. So, the Centre has instructed all State governments to promote solar energy systems.” This apart, solar power stations would reduce procurement from... Read more..

Source: New Indian Express

Electric Vehicles for Akashvani - AIR Goes Green

In line with the green initiatives of the Centre and its vision on Electric Mobility, All India Radio has shifted its entire fleet to Electric vehicles for all its transportation needs. Chief Executive Officer of Prasar Bharati Shashi Shekhar Vempati and Director General of All India Radio N Venudhar Reddy flagged off a fleet of 26 Electric Vehicles at Akashvani Bhawan in New Delhi earlier today.

In what can be seen as a small but important contribution towards realising the environmental goals of India, this is the second largest fleet of electric vehicles to be deployed in Delhi... Read more..

Source: PIB

Schneider aiming at increased component localisation for electricity meters in India

Schneider Electric, the 25 billion Euro multinational energy management and automation firm, is aiming at increasing the share of local components in electricity meters sold in India, its Executive Vice President, International Operations, Luc Remont has said.

The French company, which is implementing orders for 1.4 million smart meters in India, quoted Remont as saying in a statement that Schneider plays an important role in smart grid technology globally and is poised to provide the same in India with local engineering and delivery support.

"We aim to build our indigenous... Read more..

Source: Economic Times

Draft electric vehicle policy to push for charging infrastructure in Himachal Pradesh

The Himachal Pradesh cabinet on Tuesday approved the ‘draft electric vehicle policy’ to promote sustainable transport system. The state government said the policy aims to make Himachal a global hub for electric mobility development and manufacturing and to create public and private charging infrastructure for electric vehicles. It is also going to provide subsidy and incentives to the electric vehicles manufacturing industries.
The council of ministers, chaired by chief minister Jai Ram Thakur, also gave its nod to introduce the Sardar Patel University, Mandi, (Establishment and... Read more..

Source: Times of India

SJVN looks to set up more renewable energy projects in UP

State-owned power producer SJVN on Wednesday urged the Uttar Pradesh government to allot the company more renewable power projects in the state, after bagging the 75 megawatts (MW) solar project in Jalaun.

"A K Singh, director (finance), met Chief Minister of Uttar Pradesh Yogi Adityanath (on Wednesday) and briefed him about the progress being made in the allotted 75-MW solar project in Parasan Solar Park located at Jalaun," the company said in a statement.

Singh told the chief minister that SJVN has awarded the engineering, procurement, and construction of the project to... Read more..

Source: Economic Times

India seeks to establish strong ties with EU, which can help in transition to clean energy

India said on Wednesday that it seeks to establish a strong partnership with the European Union, which can contribute to the nation's goal of transition to clean energy.
The remarks came from Ministry of External Affairs Secretary (West) Reenat Sandhu during the 9th India-EU energy panel meeting.
"India seeks to establish a strong partnership with the EU, which can contribute to India's goal of transition to clean energy. We invite European companies to make use of the increased focus on Green Hydrogen," Sandhu said in a statement.
"I would like to propose that under the... Read more..

Source: ANI

Renewable electricity growth is accelerating faster than ever worldwide, supporting the emergence of the new global energy economy

The growth of the world’s capacity to generate electricity from solar panels, wind turbines and other renewable technologies is on course to accelerate over the coming years, with 2021 expected to set a fresh all-time record for new installations, the IEA says in a new report.

Despite rising costs for key materials used to make solar panels and wind turbines, additions of new renewable power capacity this year are forecast to rise to 290 gigawatts (GW) in 2021, surpassing the previous all-time high set last year, according to the latest edition of the IEA’s annual Renewables Market... Read more..

Source: IEA

East MCD move to give financial assistance for composting, waste processing units

In a bid to encourage municipal waste segregation in colonies and societies, the East Delhi Municipal Corporation (EDMC) has decided to provide financial assistance to subsidise the setting up of composting stations or waste processing units. EDMC commissioner Vikas Anand said that the civic body has taken the initiative to ensure segregation of waste at source, for which the corporation will either provide ₹25,000 to bulk waste generators in the residential category or 25% of the cost of the machine used for waste processing as a subsidy.

“This will encourage bulk waste generators... Read more..

Source: Hindustan Times

Eye on 30% electric vehicles by 2025, Goa govt gives nod to electric mobility policy

With the objective of boosting adoption of electric vehicles (EV) to at least 30% by 2025, the state government has approved the Goa Electric Mobility Promotion Policy (GEMPP) 2021. The policy aims to create 10,000 direct and indirect jobs in the sector by 2025.

With the focus on establishing Goa as a model of international standards for EV adoption supported by a world-class charging infrastructure and ecosystem, the policy looks to promote conversion of Internal Combustion Engine (IEC) vehicles to EVs, convert 50% of all ferries to electric by 2025, and encourage start-ups and... Read more..

Source: Economic Times

IREDA and BVFCL sign MoU for Green Energy collaborations

Indian Renewable Energy Development Agency Ltd. (IREDA) today signed Memorandum of Understanding (MoU) with Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) for providing its techno-financial expertise in developing Renewable Energy projects and fund raising. The two companies are PSUs under Ministry of New & Renewable Energy and Ministry of Chemicals & Fertilizers respectively.

The MoU was signed by Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA and Dr. Siba Prasad Mohanty, CMD, BVFCL in the presence of Shri Chintan Shah, Director (Technical... Read more..

Source: PIB

NITI Aayog bats for incentives to segregate waste at source

NITI Aayog has proposed imposing a fee on waste disposal to disincentive households to throw waste and instead be compelled to segregate it at source. The proposal is part of the fiscal incentives and disincentives proposed by the Aayog to encourage source segregation as India grapples with the surge in waste generation which is expected to increase three-fold by 2050.

The Aayog has proposed introduction of ‘Pay As You Throw’ policy which will entail a waste collection fee from the waste generator in proportion to the total quantity of waste being disposed of.

“Waste... Read more..

Source: Economic Times

India's RIL launches new sustainable fabric R|Elan GreenGold Ecocean

India’s largest private sector Reliance Industries Ltd (RIL) has secured supply chains for collection of post-consumer PET bottles through Ocean bound plastic (OBP) route and has introduced a new product – R|Elan GreenGold Ecocean. Reliance recycles over 2 billion PET bottles every year and is committed to increase the recycling capacity year on year.


RIL’s Barabanki manufacturing division has been awarded Ocean Bound Plastic Recycling Organisation Standard V1.1 by the Control Union. Ocean Bound Plastic is abandoned plastic waste located within the range of 50km from the... Read more..

Source: Fiber2Fashion

Indonesia's carbon trade trial indicates taxable emissions

Indonesia's energy ministry recorded around a million tonnes of taxable carbon emissions during a recent trial covering 32 coal power plants, a senior official said on Monday, as the country prepares to launch a carbon trading mechanism.

The world's eighth-biggest green house gas emitter aims to achieve carbon neutrality by 2060 and to use a carbon tax and trading to help control emissions.

Indonesia will start charging a carbon tax of 30,000 rupiah ($2.09) per tonne of CO2 equivalent (CO2e) next April, levied on coal-fired power plant operators with emissions above a set... Read more..

Source: Reuters

EU reaches for hydrogen stars as economics shift

The cost of producing green hydrogen with renewable energy is set to fall and the capacity to produce it in Europe and nearby countries will likely surpass current targets by 2030, European Union officials said on Monday.

Countries and companies have seized on green hydrogen - a fuel obtained by passing renewably-produced electricity through water to split the element from oxygen - as a way to cut greenhouse gas emissions, especially from heavy industry.


Until now, green hydrogen has been far more expensive than versions produced using fossil fuel, including the... Read more..

Source: Reuters