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Sustainability Outlook Headlines

Net-zero pledges, improved metrics to put pressure on coal power, say investors

Ambitions to wind down the world's coal use are likely to be accelerated by corporate net-zero pledges and better ways of measuring where factories in the global supply chain get their power, investors said.

The use of coal-fired electricity, especially in Asia, remains a major issue for top western manufacturers and retailers, putting them under pressure to shift to cleaner sources of supply in line with a deal at U.N. climate talks over the weekend targeting fossil fuel use.

Sophie Dejonckheere, Director of Sustainable Finance at TD Securities, who attended the U.N.'s... Read more..

Source: Ecomomic Times

India aims for better practices to cut agri emissions, experts call for clear goals

India will step up efforts to curb emissions in agriculture within a national mission for sustainable agriculture, having stayed off a farm action agenda at the recent Glasgow COP26 climate summit, an official aware of the matter said.

The mission falls within the ambit of the National Action Plan on Climate Change, a programme that aims to make Indian farms more resilient to changing climate and is being monitored at the highest levels, the official said.

Globally, agriculture is responsible for a third of all greenhouse gas emissions, three-quarters of them coming from... Read more..

Source: Hindustan Times

Cutting 30% methane emissions like switching all vehicles to zero emissions: IEA

The International Energy Agency (IEA) on Monday said if the world achieves a 30 per cent cut in methane emissions from human activity by 2030, it would have a similar impact on global warming as switching all world's cars, trucks, ships and planes -- the entire global transport sector -- over to net zero emissions technologies.

After two weeks of intensive discussions on how to step up international efforts to tackle global warming, the UN Climate Change Conference (COP26) in Glasgow concluded on Saturday night. The IEA has played an active role throughout, participating in a range... Read more..

Source: Economic Times

Bharti Airtel forms ESG Committee of board of directors

The telecom major has formed a committee of board of directors ("ESG Committee") to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda.

The ESG Committee will provide strategic guidance and oversight to the company's progress on ESG targets, initiatives and best practices. This will also include initiatives to respond to challenges posed by climate change through sustainable business practices.

Manish Kejriwal, lead independent director on the board will be the chairman of the ESG Committee. Other board members on the committee are D.K.... Read more..

Source: Business Standard

SIDBI launches second window of SCF with climate change as its theme

Small Industries Development Bank of India (SIDBI) has launched the second window of Swavalamban Challenge Fund (SCF), which aims to provide financial support to non-profit organizations, educational institutions for addressing developmental gaps. The focus is on innovative projects addressing the green, clean and efficient climate change. Other themes are sustainable livelihood, financial inclusion, and access to financial services and promoting the culture of entrepreneurship.


In a statement, Sivasubramanian Ramann, Chairman and Managing Director of SIDBI... Read more..

Source: Economic Times

Tamil Nadu asks centre to announce a viable policy on offshore wind energy

Tamil Nadu Chief Minister M.K. Stalin has urged the Central government to come out with a viable policy on harnessing offshore wind energy.

Speaking at the Southern Zonal Council meeting held in Tirupathi on Sunday, Stalin said the state has huge potential to harness offshore wind energy.

"However, we are yet to get a green signal from the Central government to go ahead with our projects. Many international organisations are keen to establish partnerships with our government," he added.


"Therefore, we... Read more..

Source: Economic Times

Climate change: ICMR for shift away from coal, change in cattle rearing practices

This is to combat challenges which are posing a global threat

Senior scientists at the Indian Council of Medical Research have recommended that India shift from “traditional animal husbandry practices” and “urgently wean away from coal as its main source of energy”. This is to combat the challenges of climate change that is posing a global threat, the scientists argued in a policy brief that accompanies the 2021 Global Lancet Countdown report focusing on: i) premature mortality due to ambient air pollution by sector ii) emissions from agricultural production and consumption... Read more..

Source: Hindu

COP26: U.N. climate summit reaches carbon markets deal

Negotiators closed a deal setting rules for carbon markets at the United Nations COP26 climate talks on Saturday, potentially unlocking trillions of dollars for protecting forests, building renewable energy facilities and other projects to combat climate change.

The final deal adopted by nearly 200 countries will implement Article 6 of the 2015 Paris Agreement, allowing countries to partially meet their climate targets by buying offset credits representing emission cuts by others.

Companies, as well as countries with vast forest cover, had pushed for a robust deal on... Read more..

Source: Economic Times

Government to enhance funding under PLI for solar manufacturing to ₹24,000 cr, says R.K. Singh

The PLI scheme — National Programme on High Efficiency Solar PV Modules — approved by the Union Cabinet, is aimed at reducing import dependence in a strategic sector like electricity

The government will soon enhance the funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to ₹24,000 crore from the existing ₹4,500 crore to make India an exporting nation.

"We brought the PLI scheme [for solar cells and modules] worth ₹4,500 crore. We invited bids and we got 54,500 MW manufacturing capacity of solar equipment. We... Read more..

Source: The Hindu

Goa preparing 100% renewable energy plan

The state government has started preparing a 100% renewable energy plan with the assistance of the Union government to achieve the goal of cent per cent use of renewable energy.
Environment minister Nilesh Cabral, in a letter to the Union government, stated that Goa is in the process of preparing a 100% renewable energy plan with assistance from the Union ministry of new and renewable energy (MNRE).
Goa requires approximately 540MW power during the day and 640MW during peak hours, 6pm to 11pm. The government has notified a solar policy with 50% subsidy on benchmark cost.... Read more..

Source: Times of India

NTPC, Indian Oil sign pact for renewable energy collaboration

State-owned power giant NTPC and Indian Oil on Friday signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy (RE) and mutually explore opportunities for supply of low carbon and clean energy round-the-clock captive power.

According to the official press release, this is a first-of-its-kind initiative by two national energy majors of India to support the country’s commitment to achieve renewable energy targets.

“As a global energy major, environmental priority is being weaved into every business aspect of Indian Oil and now, we intend to use... Read more..

Source: Economic Times

Global investors placing emphasis on companies' ESG performance: Survey

A significant percentage of investors around the world are paying more attention to companies' environmental, social and governance (ESG) performance when making investment decisions and may divest from firms with poor environmental track records, says a survey.

According to the 2021 EY Global Institutional Investor Survey, 74 per cent of institutional investors now more likely to "divest" based on poor ESG performance, than before the COVID-19 pandemic.

The report, now in its sixth year, canvasses the views of 320 institutional investors across 19 countries, including 15... Read more..

Source: Business Standard

Power Minister chairs meeting for discussion on the 'Report on comprehensive Policy Framework for promotion of Energy Storage in the Power Sector’

Shri R. K. Singh,  Union Minister of Power and New & Renewable Energy chaired a virtual meeting today with senior officials from Central Government, Central PSUs, RenewableEnergy Developers,PSP Developers and Battery Manufacturers for discussion on the 'Report on comprehensive Policy Framework for promotion of Energy Storage in the Power Sector'.

The Ministeremphasized that our objective should be to... Read more..

Source: PIB

‘Carbon colonialism’: India, China among nations to reject first draft

SVA group of developing countries that includes India and China has rejected the first draft of the expected agreement from the Glasgow climate conference and asked for changing the entire section on enhancing of mitigation actions.

With less than two days left for the official end of the conference, this group, which calls itself Like Minded Developing Countries (LMDCs) and also includes Bangladesh, Sri Lanka, Iran, Indonesia, Malaysia among several others, accused the developed countries of attempting to transfer their responsibilities on the rest of the world, and trying to... Read more..

Source: Indian Express

PPPs crucial for investment and technology efficiency for waste management in India: Hardeep Singh Puri, Union Petroleum Minister

NEW DELHI, 11 November 2021: Mr Hardeep Singh Puri, Minister of Housing & Urban Affairs, and Minister of Petroleum and Natural Gas, GoI today said that public-private partnerships will be vital for financing, low-cost technologies, new business models and innovative monitoring mechanism to meet the growing demand for solid and liquid waste management.

Addressing the Day 2 of the 5th ISC-FICCI Sanitation Awards and India Sanitation Conclave 2021, Minister Hardeep Singh Puri said, "With the launch of the second phase of Swachh Bharat Mission-Urban... Read more..

Source: FICCI

UN climate summit lands pledges to slash emissions from cars, planes and ships

India's environment and climate minister says rich countries have “an obligation, responsibility, duty and a vow” to provide climate finance to developing nations and should deliver on an unfulfilled promise to raise USD 100 billion a year.
    In an interview Wednesday with The Associated Press, Bhupender Yadav said addressing the shortcomings on finance was paramount to making the UN climate summit in Glasgow, Scotland, a success.
    “I believe the biggest responsibility ... lies with the developed countries," Yadav said. "Because if there is any gap that remains it is in... Read more..

Source: The Week

The United States of America becomes the 101st member country of the International Solar Alliance

In a big boost to accelerate global adoption of solar energy, John Kerry, U.S. Special Presidential Envoy for Climate announced at the UNFCCC COP26 today that the United States of America (USA) has joined the International Solar Alliance (ISA) as a member country. U.S becomes the 101st country to sign the framework agreement of the ISA to catalyze global energy transition through a solar-led approach.

Welcoming the United States of America as the 101st member of the ISA, Union Minister for Environment, Forest & Climate Change, Shri Bhupender Yadav said, that this move will... Read more..

Source: PIB

India calls for commitment from the global clean energy community for access to sustainable fuels, chemicals, and materials to reduce greenhouse gas emissions and achieve global climate goals

India today called for commitment from the global clean energy community for access to sustainable fuels, chemicals, and materials to reduce greenhouse gas emissions and achieve global climate goals as one of the mitigation measures.

Addressing the 26th UN Climate Change Conference of the Parties (COP26) for the Mission Innovation Initiative last evening, Union Minister for Science & Technology, Dr Jitendra Singh drew attention to the efforts made by India & Netherlands along with Mission Innovation Members in taking forward the Mission Innovation 2.0 through this newly... Read more..

Source: PIB

Sebi keeping close tab on int'l developments on ESG ratings, data providers

Markets regulator Sebi is keenly watching international developments on environment sustainability and governance (ESG) ratings as well as data providers and will take a call on the issue at relevant time, its chief Ajay Tyagi said on Wednesday.

Also, he said BRSR or Business Responsibility and Sustainability Report has raised the game in sustainability disclosures. The regulator will keep a close watch on how companies respond to this.

Globally, the ESG taxonomy and industry is still evolving. ESG ratings and providers are generally not regulated in any jurisdiction.

... Read more..

Source: Business Standard

India Launches E-Amrit Portal on EVs at COP26


India today launched ‘E-Amrit’, a web portal on electric vehicles (EVs), at the ongoing COP26 Summit in Glasgow, UK.

E-Amrit is a one-stop destination for all information on electric vehicles—busting myths around the adoption of EVs, their purchase, investment opportunities, policies, subsidies, etc.

... Read more..

Source: PIB

India invites GCC Nations to invest in sustainable energy sectors

India invited the Gulf Cooperation Council (GCC) member countries yesterday to invest in the sustainable energy sectors in the country, which is one of the major focus areas of the government.

Addressing the representatives of the GCC countries at India pavilion EXPO2020 Dubai, Vipul, Joint Secretary, Gulf, MEA said that India's sustainable energy sector has immense opportunities, and the Government of India has taken a series of measures, including increasing the FDI limits along with opening up of the sectors like defence, telecom and insurance.

He added that Prime Minister... Read more..

Source: ANI

Draft document of Glasgow pact says climate finance is insufficient

A draft document of the agreement that countries, including India, are negotiating in Glasgow, Scotland underlines that the promised climate finance by the developed countries is “insufficient to respond to the worsening climate change impacts in developing countries” and urges the developed countries to “urgently scale up.”

The provision of finance for mitigation and adaptation of the impact of global... Read more..

Source: Hindu

India Celebrates Transport Day at COP26

On Transport Day at COP26, India, represented by NITI Aayog, participated in the fourth ministerial dialogue of the Zero-Emission Vehicle Transition Council (ZEVTC), a global forum on enhancing political cooperation on the transition to zero-emission vehicles. ZEVTC brings together ministers and representatives of some of the world’s largest automobile markets to collectively address key challenges in the transition to ZEVs, to enable faster, cheaper, and easier transition to EVs for all.

... Read more..
Source: PIB

China may join Korea, Japan, Asean on ambitious global power grid

China may become a part of the ambitious One Sun One World One Grid (OSOWOG), with a Northeast Asia power interconnector being examined to connect the power grids of China, Korea, Japan, and the Association of Southeast Asian Nations (Asean).

This comes against the backdrop of the global grid declaration adopted at COP26 in Glasgow, with the Green Grids Initiative (GGI)—OSOWOG launched by Prime Minister Narendra Modi at the World Leaders Summit that aims to connect 140 countries to round-the-clock solar power.

... Read more..
Source: Live Mint

ISA sets up investment advisory panel, ties up with Nordic institutional investors

The International Solar Alliance (ISA) has established an investment advisory committee and has partnered with Nordic institutional investors to mobilize USD 1 trillion for investment in solar energy by 2030.

"ISA announced the establishment of an Investment Advisory Committee composing of leading institutional investors, including multilateral and commercial organizations, to guide ISA on its objective of mobilizing investments of USD 1 trillion in... Read more..

Source: Economic Times