News

MSMEs Focusing on Governance Component of ESG

MSMEs see profits and cost-saving benefits in sustainability but need support for efficiency goals: SIDBI – D&B SPeX.

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MSMEs see profits and cost-saving benefits in sustainability but need support for efficiency goals: SIDBI – D&B SPeX.

IREDA to Establish Retail Subsidiary

Indian Renewable Energy Development Agency Limited (IREDA) has plans to establish a wholly-owned retail subsidiary for its retail business.

RBI to Establish Data Repository for Climate Change Risk

RBI is establishing a data repository named Reserve Bank – Climate Risk Information System (RB-CRIS) to monitor climate risks

HAI, GSTC Partner to Promote Sustainable Tourism

As a part of the MoU, GSTC will issue certificates to the HAI members who practice and promote best practices for sustainable tourism

Advancing India’s Green Shipping, RE Narrative on a Global Stage

India’s union minister highlighted the country’s progress in green shipping and renewable energy transition at an international conference

Hitachi Energy to Invest $250 Million in India

Hitachi Energy will invest in capacity expansion, portfolio, and accelerating global demand for clean energy solutions

GAIL, AM Green to Develop 2.5 GW RE Projects

GAIL and AM Green will jointly develop solar/wind hybrid RE projects to supply renewable energy – round the clock

Birla Carbon Launches Sustainable Carbonaceous Material for India

Birla Carbon has launched Continua 8030, a circular material to address the growing sustainability needs of customers

IFC, HSBC AM Partner to Support Sustainability in Emerging Markets

The collaboration aims to drive sustainable growth and impact in emerging markets by investing in sustainable technologies and social impact

Adani Group to Power Google’s Cloud Services in India

The collaboration will enable Google to use clean energy for its cloud services; achieve its 24/7 carbon-free energy goal

BPCL, MbPA to Launch India’s First Green Fuel Ecosystem

BPCL, MbPA and the MPSF have inked the MoU to improve sustainable energy options at the port and establish India’s first green fuel ecosystem

Nextracker Launches R&D Center for Solar Excellence

Nextracker aims to advance photovoltaic R&D, testing, and workforce development serving the Indian and Middle Eastern solar markets

MSIM Closes 1GT Climate Private Equity Fund

1GT targets investments in private companies across mobility, power, sustainable food, agriculture and circular economy

Code Red: CII Red Flags TN Auto Industry Against High Climate Risk

The auto industry faces a significant risk of climate hazards like floods, droughts, cyclones, and heavy rainfall.

Vivriti Capital Secures $25 Million from ADB for Climate Finance

Vivriti Capital will use atleast 30 percent of the funds for EV financing, including charging stations and battery swapping stations.

AIIB Commits $100 M Climate Transition Fund For Emerging Asia

AIIB has earmarked $75 million to the Actis Asia Climate Transition Fund and $25 million co-investment sleeve alongside it.

Zetwerk Wins Rs 2,500 crore NTPC Solar Module Contract

Zetwerk Manufacturing has secured a 1,515 MWp order from NTPC for the production and supply of ALMM-compliant solar PV modules.

Climate Financing Start-up Raises $6.3 M

Climate financing start-up Two Point O Capital has raised $6.3 million in a seed funding round led by Omnivore.

Maharashtra Gets Rs 1.29 lakh crore Boost for RE

Maharashtra has secured a substantial boost for its renewable energy sector with the signing of seven MoUs for Rs 1.29 lakh crore investment.

Ambuja Cements Joins AFID; Pledges Rs 100 B for RE

Ambuja Cements plans to invest Rs 100 billion in RE projects, including 1 GW capacity and 376 MW waste heat recovery system.

United States-India Collaboration on Climate Change to Promote Green Jobs

India and the US have successfully combated climate change and transition to sustainable energy, resulting in the creation of green jobs.

Sunsure Energy to Supply Green Power to Kirloskar Brothers

Sunsure Energy will supply 2 cr units of clean power to Kirloskar manufacturing facilities, reducing the carbon footprint by 14,200 MT.

India Working on International Cooperation to Empower Global South

India is prioritizing international cooperation and is assessing its financial requirements at COP29 to set quantifiable goals.

Can India Scale to Meet to its RE Targets?

CEEW, the independent think tank has raised some eye-opening questions regarding India’s RE target achievements.

India Inc Pledges Rs 32.45 Lakh Crore for RE Projects

India Inc. has pledged Rs 32.45 lakh crore for renewable energy projects till 2030, aligning with India’s target of 500 GW.

IREDA CMD Advocates Innovative Financing to Bridge Green Hydrogen Cost Gap

IREDA affirmed its dedication to reducing project costs by combining green hydrogen with RE sources like solar, wind, and hydro.

Union Bank of India First Major Bank to Sign PCAF

The Union Bank of India has demonstrated its commitment to monitoring and controlling its financed emissions.

COP 29 President Sets 14-Point Action Agenda

The COP 29 President has announced a 14-point action agenda to accelerate climate action and supplement the formal negotiated agenda

Thermax, Ceres Partner for Green Hydrogen Production

Thermax has partnered with Ceres to develop a pressurized SAM and design a SAM balance of module for a multi-MW SOEC electrolyzer module.

JOULE to Power EVs in Bengaluru

The project is a $2.65 million new Climate Pledge initiative to support over 5,500 EVs by 2030 by addressing infrastructure gaps.

Coal India to Expand RE Capacity by 5 GW

Coal India to expand its RE capacity by adding 5 GW by 2028. Additionally, the company is also looking to set up pump storage projects.

ISMA Inks MOUs with TERI, PRAJ for SAF

The ISMA MoUs aim to promote India’s sustainability by reducing annual carbon emissions from the aviation sector.

31,350 MW Hydro Electric Projects Receives Rs 12,461 Crore Support

The Cabinet has approved a modification to the budgetary support scheme for enabling infrastructure for Hydro Electric Projects, totaling Rs 12,461 crore.

Green Pathways for the Steel Industry

A report presents a comprehensive plan for India’s steel industry to decarbonize, addressing various aspects of carbon emissions

‘Mission Mausam’ gets Rs 2,000 crore outlay

The Cabinet meeting chaired by the PM meeting has approved an outlay of Rs 2,000 crore over two years for ‘Mission Mausam’.

NTPC Announces Two Projects

NTPC has awarded a 1,166 MW wind energy project to the Suzlon Group; signed MoU with ICC to set net-zero standards.

Nestlé Replaces Plastic with New Paper-Based Packaging

Nestlé claims to have reduced plastic use by 90% in vital proteins and packaging weight by 97% in sustainable coffee packs.

Three important Sustainability Updates

Oil India, NABARD, and a Union Minister highlighted the importance of sustainability and ESG in three separate incidents.

85% Banks rely on ESG ratings for Financial Strategy

In 2023, 85% of FIs used ESG ratings to identify climate-related opportunities, managing over $4 trillion in assets.

India Establishes Graphene Engineering and Innovation Center

It has been established to develop a center of excellence for the commercialization of graphene technology.

Mercedes-Benz Launches Sustainability CoE

The first CoE will aid 25 social enterprises in mobility & environmental innovation, while the second will focus on charging infrastructure.

The Importance of ESG Framework and Integration into Business

Two GoI officials recently underscored the importance to integrate ESG into business practices and the significance of an ESG framework.

Toyo-India to Conduct FEED Study For EET Fuels ICC Project

The ICC project is projected to capture approximately 1 million tonnes of CO2 annually, removing approximately 45% of all Stanlow emissions.

India to Develop Climate Finance Taxonomy in 10 Months

A climate finance taxonomy is a set of guidelines that will help investors and institutions direct funds to tackle climate change.

Indian Railways Outlines Net Zero Journey

The Indian Railways Board aims to achieve net zero status by primarily utilizing renewable energy sources for energy supply, nationally

MPSF, DNV Partner for Sustainable Maritime Sector

Under the MoU, DNV team will collaborate with MPSF to explore low-carbon fuel bunkering, storage, and leverage MPSF ESG and circularity Center

ONGC’s 1GW Renewable Energy Push

ONGC has submitted a tender for one GW of renewable energy. Also established ONGC Green (OGL) as a new subsidiary to manage the assets.

Adani Energy Acquires Transmission Project in Gujarat

Adani Energy will commission the project in the next 24 months, with 21,783 km of transmission lines and 61,686 MVA of capacity.

Biocon to Achieve Gender Parity by 2030

Kiran Mazumdar Shaw, Founder, Biocon, said the initiative was aimed to create a more inclusive and balanced workforce

TGI Launched in Mumbai

The TGI project, utilizing data and analytics, aims to benefit 23 million people in nine districts of Maharashtra.

Women Can Register Workplace Harassment Complaints With the She-Box

She-Box offers a common platform to file complaints, track their status, and ensure a time-bound processing by ICs.

ReNew, Microsoft Ink 437.6 MW Green Energy Contract

Microsoft aims to achieve carbon-negative status by 2030 by producing over a million green energy attributes annually through this contract

Disparity Between Available Finance and Municipal Spends Impacting Indian Cities

A report emphasizes the need for comprehensive urban planning strategies for inclusive growth, environmental sustainability for cities.

Ultratech Cement Secures $500 M SLL

The SLL will support UltraTech’s sustainability and ESG goals, aiming to achieve carbon-neutral concrete by 2050

India Charts Green Energy Strategy at US-India Bilateral Meet

India emphasized the importance of green energy and green hydrogen to decarbonize industries and fuel power generation

L’Oréal Documents 100 % RE Journey in India

L’Oréal India has transitioned all its operations in India, including manufacturing facilities, research and innovation centers to 100% renewable energy

New BioE3 Policy to fuel Biomanufacturing

The “BioE3 Policy aims to foster innovation-driven research and development, and entrepreneurship in various thematic sectors

Mahindra Logistics’ Digital Tool to Decarbonize Supply Chain

Mahindra Logistics’ reporting tool quantifies shipment-level Scope 3 emissions for various industries and provides emissions savings certificates for transportation

India Launches Bharat ZET Policy Advisory

Each ZET policy intervention identifies a nodal agency responsible for implementation, a list of key stakeholders, its impact on the sector, and the methodology of policy formulation

India Launches SOP for Green Tug Transition Program

The Green Tug Transition Program is a pivotal initiative towards realizing our vision of a sustainable and green maritime sector in India

How is the ICICI Bank Propelling its SDG Journey?

Last fiscal, the ICICI Bank propelled its SDG Journey a step further. Here are some initiatives that stand out

India Must Address $4 Trillion VFG to Meet SDGs

India wants to monitor 95% of SDG indicators by 2024 to bring its sustainable development goals into line with its development goal for 2047.

IGIA First Indian Airport to be Net Zero Under ACI

IGIA has achieved its target by adopting renewable energy, developing green airport infrastructures, promoting electric vehicles, and implementing zero waste to landfill programs

GOI Planning Rs 15,000 Crore Green Initiative for MSMEs

Green initiatives for MSMEs will focus on establishing material recovery facilities (MRFs) and managing post-consumption product treatment

Shipbuilding Policy 2.0 Promotes Recycling

The shipbuilding policy 2.0 includes a recycling credit note scheme, fixed shipbuilder subsidies, and three maritime clusters

Sovereign Green Bonds May be Traded at IFSC

The Indian government introduced sovereign Green Bonds in FY 23 to mobilize funds for sustainable public sector projects.

IFC, Citi Partner for Sustainable Supply Chain

The partnership is the first project under the umbrella of a $2 billion global sustainable supply chain finance program for emerging markets

Carbon Removal Budget to Tackle Climate Change

A recent Oxford University study published in Carbon Management supports a new “Carbon Removal Budget” as a strategy to combat climate change

Muthoot Capital Secures Rs 100 Crore Impact Funding for EVs

Muthoot Capital Services has partnered with Development Financial Institution to raise long term debt funds to expand its EV portfolio

Climate Bonds must be Indexed to Basket of Currencies

APAC executives have proposed that emerging economies must issue climate bonds that are indexed to a basket of currencies

IICA, HP India, Launch ESG Professional Program

The ESG Professional program is a significant step towards building a sustainable and responsible corporate ecosystem

COP29: Climate Talks Must be the Focus

COP29 climate talks in Azerbaijan highlight the need for financial aid from rich countries and cooperation between CSA for climate solutions

India to Establish Domestic Carbon Market Regulations

Indian corporations are actively participating in the development of the carbon market as their global assets are expected to demand cleaner products

Women-Owned MSMEs Surge to 1.84 Crore in India

India now has over 1.84 crore women-owned MSMEs, marking a significant development for the nation’s economic landscape

Leading Indian Companies Fall Short of RE/Decarbonization Targets

Indian corporates are falling short of their decarbonization targets; only 5% of their yearly electricity consumption comes from RE

India EV Market to Reach $2.5 Billion in 2024

The Indian EV or electric vehicle market is projected to grow by 26.4% annually, reaching a total value of $2.5 billion by 2024

TPRMG, NDDB Partner to Solarize the Dairy Cooperative Sector

This partnership aims to support various projects focusing on developing renewable energy technologies in the dairy supply chain

Hindustan Zinc Launches Asia’s First Low Carbon Green Zinc

The company said that it produces less than one tonne of carbon emissions per tonne of green zinc to be targeted at the automotive sector

Tata Steel Launches Carbon Bank

The carbon bank is aimed at measuring and managing carbon dioxide savings generated from various sustainability projects

AcrelorMittal Belgium Pilots Carbon Capture

ArcelorMittal Belgium plans to achieve a 35% reduction in CO2 emissions by 2030 through the use of circular carbon in blast furnaces

MSME, DEI, Youth: Three Focus Areas of Budget 2024

The MSME sector in India has received a green boost in Finance Minister Nirmala Sitharaman’s seventh Union Budget for 2024-25

IHG Launches Hotel Industry’s First Low Carbon Pioneers Program

The first few Low Carbon Pioneer hotels span across Holiday Inn Express Madrid Airport, Iberostar Waves Cristina, and Kimpton BEM Budapest

Economic Survey: Rural women drive women’s participation in the workforce

Women’s participation in India’s labor force has increased significantly, reaching 37% in 2022-23, largely driven by rural women.

India made great advances in climate mitigation: Economic survey

The Economic Survey highlights the importance of energy efficiency measures in promoting clean energy transitions and energy security.

An Update on MSME Green Finance and Transformation Scheme

The MSE Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme) aims to assist MSMEs in implementing green technology.

5 Ways in Which Amazon Achieved its 100% RE Target

Amazon has achieved 100 percent RE target seven years ahead of the set goal. Here are the five ways in which the company achieved its target

Tata Power to Invest Rs 20,000 crore for Renewable Energy

The investments are aimed at advancing sustainability, spurring clean energy growth, and supporting India’s renewable energy targets

GoI Outlines e-Mobility R&D Roadmap for Net Zero in New Report

The e-mobility R&D roadmap focuses on energy storage cells, EV aggregates, materials and recycling, and charging and refuelling

3 Climate Tech Start-ups Win ArcelorMittal Accelerator Award

The start-ups, UrjanovaC, Agro Morph Techno Solutions and Susstains Engineering Solutions are developing decarbonization solutions

GAIL Starts MW-Scale Operations for Green Hydrogen

GAIL will be the first company to start megawatt-scale operations for green hydrogen production, with a facility set to produce 4.3 TPD

India Needs 2 Lakh Skilled Professionals to Meet 2030 30% EV Target

The EV target demand includes blue- and white-collar technicians, scientists, and engineers in electrical, mechanical, chemical segments

Indian Sustainable Agriculture Projects on Global Centre Stage

The Gulbenkian committee recognized the contributions of APCNF and Dr Rattan Lal in promoting sustainable agriculture in India

CEO-led Climate Alliance Appoints Sumant Sinha to Lead Global Climate Action

The CEO-led Climate Alliance represents $4 T in revenues and 5.2 GT of carbon emissions, equivalent to 10 percent of global emissions

72% Global FIs to Invest $500,000 in ESG Technology

Global FIs are incorporating climate and ESG risk considerations into their risk assessment and investment selection procedures

Renewable Energy Growth Rate Must Triple to 16.4% by 2030

As per IRENA statistics, despite rapid growth, the world may fall short of the triple renewable energy target set at COP28

remove Launches India Initiative

remove will support Indian businesses in developing projects to remove carbon dioxide from the atmosphere and mitigate global warming

How Prepared Are the Indian CFOs for Climate Reporting and Compliances?

A recent Accenture survey has revealed that only 22% of CFOs are ready for climate reporting and assurance requirements, globally

Hindustan Zinc Releases First TNFD Report

Hindustan Zinc is focusing on environmental impact assessment and setting science-based targets to reduce freshwater and land pressures

JSW to Invest $1 Billion for Net Neutrality

JSW aims to reduce emissions per tonne of steel produced to 1.95 by 2030; and achieve net neutrality by 2050

AM Green, SJVN to Execute One of World’s Largest Carbon-Free RE Project

AM Green will receive 4,500 MW of carbon-free RE for its green ammonia facilities, integrating pumped hydro storage with solar and wind power