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How is the ICICI Bank Propelling its SDG Journey?

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The ICICI Bank’s Environmental, Social, and Governance (ESG) framework is aligned with the United Nations Sustainable Development Goals (UN SDGs). The bank reiterated that besides SDGs, most of its objects meet India’s commitments under the Paris Agreement, in its ESG report 2023-24. The , the report is titled “Being Responsible, Being Sustainable: ICICI Bank ESG Report 2023-24.”

Here are some ways ICICI Bank is aligning its ESG goals with the UN SDGs:
  • Carbon neutrality: ICICI Bank aims to achieve carbon neutrality for scope 1 and 2 emissions by 2032. The bank has increased its use of green energy and is focused on minimizing greenhouse gas emissions.
  • Water conservation: The bank has installed water recycling facilities at its offices in Mumbai and Hyderabad, and uses recycled water for landscaping and cooling towers. It also installs water-efficient plumbing fixtures in new and existing offices and branches. Additionally, its water conservation initiatives have generated an annual rainwater harvesting capacity exceeding 25.8 billion litres across the country.
  • Sustainable procurement: The bank is focused on sustainable procurement and has implemented OHSAS 18001 at 13 of its premises.
  • In its report, the bank said it has allocated Rs 5.19 billion for corporate social responsibility (CSR) activities in financial year 2024, up from Rs 4.63 billion the previous year. The projects focus on livelihood and social interventions, and have benefited over 10.7 million people as of the end of 2024.
  • Gender equality: The bank has supported over 10 million women entrepreneurs through self-help groups and prioritizes women in its skill and value chain development programs.
  • Through its philanthropic arm, the ICICI Foundation for Inclusive Growth, the bank planted more than 1.1 million trees in the financial year 2024.
  • Healthcare: The bank expanded its healthcare initiatives to include cancer care in 35 hospitals across India and committed Rs 12 billion for the development of new institutions for the Tata Memorial Centre.
  • Renewable energy: In financial year 2024, the bank increased the proportion of renewable energy within the total energy consumption from the grid and on-site solar generation to 35 per cent from 9 per cent in financial year 2023. With this, the Bank’s total green energy usage increased to 75.73 million kilowatt-hours (kWh).”
C-Suite thurst:

Girish Chandra Chaturvedi, Chairman, ICICI Bank, said, “We have set the goal of becoming carbon neutral in scope 1 and scope 2 emissions by financial year 2032. Our endeavor to measure and monitor water consumption at our own premises has led to per capita per day consumption being lower than the national average indicated by National Building Code. The bank is adopting responsible practices for embracing circularity related to waste management, disposal and encouraging recycling through authorized vendors.”

 


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100 % SAF Use Can Reduce Impact of Contrails by 26%: Study

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The Eclif3 study, the first of its kind, found that using both commercial aircraft engines on 100% sustainable aviation fuel or SAF significantly reduces soot particles and contrail ice crystals.

The Eclif3 study, involving Airbus, Rolls-Royce, DLR, and Neste, measured the impact of 100% SAF use on emissions from Airbus A350 engines and DLR chase planes.

Methodology and findings:

Researchers used DLR’s global climate model simulations to assess the impact of contrails on the alteration in Earth’s atmospheric energy balance, or radiative forcing.
• The use of 100% SAF in Eclif3 could significantly decrease the impact of contrails by at least 26% when compared to the Jet A-1 reference fuel.

• SAF can significantly reduce aviation’s short-term climate impact by reducing non-CO2 effects and greenhouse gas emissions.

• The consumption of unblended SAF fuel was reduced by 56% compared to a reference Jet A-1 fuel. Thus, potentially reducing the climate-warming effect of condensation trails or contrails.

What do the stakeholders say?

“A crucial component of aviation’s transition to net-zero CO2 will be the use of SAF at high blend ratios. These tests not only demonstrated that our Trent XWB-84 engine can operate entirely on solar power, but they also demonstrated how more value could be extracted from solar power by mitigating non-CO2 climate effects,” said Alan Newby, Director, Research & Technology, Rolls-Royce.

“SAF is largely acknowledged as an essential first step toward reducing the aviation industry’s short- and long-term climate impact,” said Alexander Kueper, Vice President, Renewable Aviation Business, Neste.

Mark Bentall, Head, the Research & Technology Program, Airbus, said, “This is a very encouraging result, based on science, which shows just how crucial sustainable aviation fuels are for decarbonizing air transport.”


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BMC Debuts Climate Budget with Rs 10,000 Crore Outlay

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The Brihanmumbai Municipal Corporation (BMC) has introduced its inaugural climate budget for 2024-25.

The climate budget which represents 32.18% of the total capital expenditure, has been integrated into BMC’s existing fiscal framework. The aim is to prioritize environmental sustainability across various civic departments.

Budgetary allotment:

The BMC is committed to developing diverse, environment-friendly infrastructure in line with the Paris Agreement on climate change.

• Rs 2,163.8 crore towards activities that integrate components of the Mumbai Climate Action Plan (MCAP), such as LED lights, plantations, rooftop solar, and sewage treatment plants in new constructions. This makes up 6.81% of the capital expenditure budget
• Highest allocation—Rs 9,707.97 crores accounting for 32.18% toward the urban flooding and water resource management
• Rs 262.16 crores for sustainable waste management
• Rs. 177.84 crores for urban greening and biodiversity
• Rs 35.38 crores for air quality management

Additional municipal commissioner Ashwini Joshi who released the report said, “… the BMC is acutely aware of this duty. In line with the Paris Agreement on climate change, it is essential to develop diverse, environment-friendly infrastructure. The stormwater drainage, sewerage projects and operations, the Mumbai sewage disposal project, water supply projects, and the solid waste management departments are directly and indirectly linked to the environment. The primary objective of this budget report is to advocate and prioritize projects that are eco-friendly and are being undertaken by these departments.”

The C40 impact:

The city is part of the global C40 Program for climate budgeting, which focuses on fighting the climate crisis and driving urban action to reduce greenhouse gas emissions and climate risks.

The BMC prepared this climate budget report as part of the C40 Cities’ climate budget pilot program, which began in September 2021.

Mumbai’s climate budgeting process is led by BMC’s Environment Department and supported by WRI India and C40 Cities.


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Climate-Smart Farming: IRRI, BASF Collaborate to Raise Carbon Intensity of Rice Systems

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Climate-smart farming is reaching Asian countries. 

IRRI and BASF have partnered to raise the carbon intensity of rice systems. 

BASF and IRRI are collaborating to investigate climate-smart rice farming, including direct-seeded varieties, nitrogen stabilizers, innovative chemistry, nutrient and residue management, and water-saving techniques. 

BASF and IRRI have formed a scientific partnership called “OPTIMA Rice” to reduce greenhouse gas emissions from rice production. The partnership, initially scheduled for several Philippine rice seasons, will focus on Laguna, where both organizations have rice research centers. The companies are also incorporating new computation algorithms for estimating greenhouse gas emissions into their ecophysiological model ORYZA. 

The goal is to improve scientific knowledge and assist rice farmers in decarbonizing their agricultural systems. The partnership bolsters BASF’s pledge to enable a 30 percent reduction in CO2e (carbon dioxide equivalent) emissions per ton of crop produced by 2030.

Rice, one of the top five cereal crops globally, is consumed by three billion people daily, with most production originating from Asia. Paddy rice production, primarily originating on flooded wetland fields, accounts for 10% of global greenhouse gas emissions. This makes it the most promising agricultural crop to reduce its carbon footprint, the companies said in a press release. 

“To make the big strides that are needed to reduce carbon emissions in farming, we need to evaluate how new technologies and tools can come together for more climate-smart agricultural practices,” said Marko Grozdanovic, Senior Vice President, Global Marketing, BASF Agricultural Solutions. 

“This collaboration presents immense opportunities for methane and other GHG reductions to create value for farmers and help improve the production of rice in Asia, and the Philippines in particular,” said Bas Bouman, Research Director and Head, the Sustainable Impact Department, IRRI.


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COP28, Climate change

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2,456 Fossil Fuel Lobbyists Attend COP28 Climate Talks

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Fossil fuel lobbyists are flooding UN negotiations in this year of record-breaking global temperatures and greenhouse gas emissions—nearly four times as many as were allowed entry the previous year.

This increase is timed to coincide with a COP that is centered around the phaseout of fossil fuels. Additionally, it strengthens the growing demand to remove polluters from negotiations made by governments, civil society organizations, and countries in the Global South.

According to a new analysis from analysis from the Kick Big Polluters Out (KBPO) coalition, at least 2456 fossil fuel lobbyists have been granted access to the COP28 summit.

Key findings:

COP28 is being exploited by Big Polluters to advance the fossil-fuel agenda, with:

• Fossil fuel lobbyists have received more passes to COP28 than all delegates from the ten most climate-vulnerable nations (1509)
• Fossil fuel lobbyists, including Shell, TotalEnergies, and Equinor, were granted access to the COP through a trade association, with nine out of the ten largest groups coming from the Global North.
• France brought fossil fuel giants such as TotalEnergies and EDF as part of its country delegation, Italy brought a team of ENI representatives, and the European Union brought employees of BP, ENI, and ExxonMobil.
• More than seven times the number of fossil fuel lobbyists were permitted entry to the Dubai talks than official indigenous representatives (316)

Quotes:

Alexia Leclercq, Start: Empowerment, Co-founder said, “Do you think Shell or Chevron or ExxonMobil are sending lobbyists to passively observe these talks? To advance climate solutions for the benefit of communities whose air and water they pollute? To put people and the planet over profit and their greedy dollars? Big Polluters’ poisonous presence has bogged us down for years, keeping us from advancing the pathways needed to keep fossil fuels in the ground. They are the reason COP28 is clouded in a fog of climate denial, not climate reality.”

Caroline Muturi from IBON Africa said, “These findings tell us that the dynamics within these spaces remain fundamentally colonial. It comes as no surprise that the majority of the corporations influencing these talks are from the Global North. In years past COPs have become an avenue for many companies to greenwash their polluting businesses and foist dangerous distractions from real climate action. This hinders the meaningful participation of African communities and the rest of the Global South in shaping climate policies that will primarily affect them.”

Hwei Mian Lim, Women and Gender Constituency said, “If governments had required oil and gas groups to decarbonize from the outset in line with what science says is needed to limit climate change’s worse impacts, we would not be in our current state of all-out emergency. We are where we are because of years of denial, delay, and false solutions from the very groups that are responsible for the problem.”

Recall:

Last year, KBPO’s analysis showed that at least 636 fossil fuel lobbyists were granted access to the COP27 climate talks in Egypt, up from 503 the year before that in Glasgow. And recent findings from KBPO have also found that fossil fuel lobbyists have attended COPs at least 7200 times over the last two decades.

The Kick Big Polluters Out campaign is calling on the UN climate body and governments to continue on the road towards a robust Accountability Framework to address the problem at its root, as with the tobacco industry at the World Health Organisation tobacco treaty talks.


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Advanced Biofuel, Green Hydrogen, Refinery

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Technip Secures EPC Contract for Advanced Biofuels, Green H2 Units

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With advanced biofuels and green hydrogen units, Galp’s Sines refinery in Portugal is getting a green facelift.

Galp has awarded engineering, procurement services, and construction management contracts to Technip Energies for the project.

The projects are part of Galp’s program to reduce the carbon footprint of the refinery and its products.

The biofuel and green hydrogen projects:

The advanced biofuels unit is promoted by the joint venture of Galp (75 %) and Mitsui (25 %). The unit will have a 270 ktpa capacity and will produce renewable diesel and sustainable aviation fuel from bio-feedstock and waste residues. It will reduce 800 ktpa of greenhouse gas emissions. For this unit, Technip Energies will work in consortium with Technoedif Engenharia, an engineering firm in Portugal.

The green hydrogen unit comprises a 100 MW electrolysis plant. It will produce up to 15 ktpa of renewable hydrogen, using proton exchange membrane (PEM) electrolyzers which will be supplied by Plug Power. This unit will replace 20 % of the existing grey hydrogen consumption of the Sines refinery and reduce greenhouse gas emissions by up to 110 ktpa.

Both units represent a gross investment estimated at 650 million euros and will transform the Sines refinery into one of the most important low-carbon platforms in Portugal.

Quotes:

Marco Villa, Chief Operating Officer, Technip Energies, said, “Technip Energies, has been supporting Galp strategy since the early phases of the biofuels and the green hydrogen projects. We are delighted to be selected as a partner for the execution phase of both. This investment is another example of how Technip Energies enables the decarbonization of the energy industry through collaboration, innovation, and technology integration.”


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Farmers, Climate Change, Agriculture

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Indian farmers most concerned about climate change: Survey

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Indian, Ukranian, and Kenyan farmers are the most concerned about climate change, a new survey reveals.

Globally, more than 70% of farmers have seen large impacts of climate change on their farms, the global research across 8 countries states.

Demographic spotlight:

The importance of fertilizer costs becomes most apparent in Kenya, India, and Ukraine.

India:

Indian smallholder farmers are focused on mitigating risk. In addition to the global survey, Bayer interviewed 2,056 Indian smallholder farmers from its customer base.

Challenges:

Currently, the biggest challenges for Indian farmers are high labor and fertilizer costs. They are also impacted by climate change.

• 42 % farmers expect reduced crop yields
• 31 % expect higher pest pressures because of changing weather

Unlike commercial and large-scale growers, the smallholders interviewed in India are focused on mitigating risks, prioritizing financial security through insurance (26%) and infrastructure (21%).

When asked about the future, 60% said they would benefit most from access to digital technologies and modern crop protection.

Despite all the challenges, Indian smallholders remain optimistic as 8 in every 10 farmers feel positive about the future of farming.

Ukraine:

In Ukraine, 70% of farmers named fertilizer costs as one of the top three challenges. The authors drew parallels with the concrete materialized consequences a war can impose on farmers in the country.

Highlights:

• Forty percent named general disruption due to war and conflict as a top challenge.
• More than three-quarters (77%) state that climate change has already largely impacted their farm
• More than 80% are already taking or planning to take steps to directly apply measures to reduce greenhouse gases.
• 43 % are either using (or intend to) cover crops by using renewable energy or biofuels (37%).
• The farmers are also using innovative seeds to reduce fertilizer or crop protection use (33%)
• Alongside this, every farmer claims to already apply or plans to apply measures to help biodiversity
• Over half (54%) say they already apply measures to protect insects, such as insect hotels, or plan to do so in the next three years
• Over half (53%) say access to seeds and traits designed to better cope with extreme weather would most benefit their farm
• 50% called for better crop protection technology
• 42% said that better access to irrigation technology would benefit their farm

Looking at their practices, improving efficient land use, diversifying crops, and better soil health were ranked as the most important routes to success, the authors said in the survey.

Global highlights:

According to the survey titled: Farmer Voice, 71% of farmers say that climate change already has a large impact on their farm, and even more are worried about the impact this will have in the future.

Three-quarters of farmers globally (76%) are worried about the impact that climate change will have on their farm, with farmers in Kenya and India most concerned, the authors noted in the survey report.

• Climate impacts estimated to have reduced farmer incomes by 15.7% on average over the past two years
• Most pressing short-term challenges dominated by economic uncertainty and cost concerns
• 73% farmers have experienced increasing pest and disease pressure
• One in six farmers identified income losses of over 25% during this period
• Four in 5 farmers have already taken or plan to take steps to reduce greenhouse gas emissions

Life science company Bayer commissioned Kekst CNC, an independent agency to interview 800 farmers globally. These included large and small farmers from Australia, Brazil, China, Germany, India, Kenya, Ukraine, and the United States in equal numbers.

Farmers expect the repercussions of climate change to continue, said Rodrigo Santos, Member of the Board of Management, Bayer AG; and President, Crop Science Division.

Challenges:

While climate change is a dominant overarching theme, economic challenges are the biggest priority over the next three years.

Over half (55%) of farmers placed fertilizer costs among the top three challenges. This was followed by energy costs (47%), price and income volatility (37%), and the cost of crop protection (36%).

Farmers around the world largely share a common view about the challenges of today and the prospects for the future. While there are slight differences between countries, the overarching issues of climate change and economic pressures are of similar concern to all.

Farmers are facing multiple and related challenges. “But despite this, we found that they are hopeful – almost three-
quarters say they feel positive about the future of farming in their country,” Mr. Santos said.

“Farmers are already experiencing the adverse effects of climate change on their fields, and at the same time, they play a key role in tackling this huge challenge. The losses reported in this survey make the direct threat climate change poses to global food security crystal clear. In the face of a growing world population, the results must be a catalyst for efforts to make agriculture regenerative,” he said.


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Maharashtra sets up panel to accelerate climate action

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The Maharashtra government has set up a panel to monitor implementation of the Maharashtra State Action Plan for Climate Change (MSAPCC).

The panel is a step by the Maharashtra government to accelerate its initiatives to reduce greenhouse gas emissions and meet climate goals in accordance with the Paris Agreement.

The panel will be headed by a director and experts from climate finance, climate mitigation, climate adaption and a project consultant.

The MSAPCC is a comprehensive strategy developed by the state government to study the impact of carbon footprint and mitigate climate action. The initiatives are in sync with the National Plan on Climate Change (NPCC).

It must be noted that the NPCC was introduced in 2008 under the guidance of the Prime minister’s council on climate change, to identify different strategies to promote climate change-related issues and initiate action to tackle the same.


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Steel industry, GHG emissions, Carbon footprint, Paris Agreement, Decarbonization

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5 key principles of new global steel climate standards

Sonal Desai


In a bid to advance climate strategy, advocate carbon emissions, and reduce greenhouse gas emissions in line with the Paris Climate Agreement’s 1.5-degree Celsius scenario by 2050, the Global Steel Climate Council (GSCC) has established Global Steel Climate Standards (GSCS).

The standards are based on the principles of reducing global steel industry GHG emissions, establishing technology/production method agnostic standards, aligning with a science-based glidepath to achieve a 1.5-degree Celsius scenario, requiring third-party verification, and providing sustainable steelmaking information to decision-makers across the value chain.

The GSCS defines a clear boundary for sources of greenhouse gas emissions, covering activities from mining to hot rolling. They include renewable energy and RTCs, and may include emissions reductions from biogenic CO2 and process off-gases, the council said in an introductory note. The standard also provides criteria for evaluating and certifying flat and long steel products as lower-carbon emissions steel, with companies able to certify as many or few products as desired. The standard promotes science-based emissions targets, aligning with the 1.5°C scenario and IEA projections for 2050, and re-evaluating them every five years.

The five key GSCS pillars:
1. Scientific: The Intergovernmental Panel on Climate Change (IPCC), the International Energy Agency (IEA), and the World Steel Association (WSA) are reputable sources on which the GSCC has based its extensive research and information compiled from the most recent climate science, steel industry data, and market projections. The goal is to make sure the standard is in line with the most recent findings in climate science and the objectives of the Paris Agreement to achieve sector-wide targeted reductions by 2050.

2. Quantitative: Based on clearly defined boundaries that include carbon-intensive processes in the steelmaking value chain, the Steel Climate Standard specifies numerical steel product carbon emissions intensity standards.

3. Comprehensive: Have established a comprehensive decarbonization program that includes product-based standards and a framework for establishing science-based emissions targets for steel producers. Both of these initiatives depend on a decrease in the intensity of carbon emissions on a carbon dioxide equivalent (CO2e) basis, which includes all pertinent GHGs. As technology develops over the next few decades, this product-focused strategy enables decarbonization to be practically achieved on a mill-by-mill basis, the council said.

4. Principled: Are based on an approach that is process agnostic and has a clear vision for the future of steel in a decarbonizing economy. We hold all steel producers to the same Steel Climate Standard by doing away with the “sliding scale” idea for ferrous scrap. In addition to providing market drivers for short-term reductions from the highest emitting sources as well as long-term investment in emerging technology needed to meet the ultimate decarbonization goal in 2050, this approach recognizes the steel manufacturers who have already made sizable investments in lower carbon technology, the council said.

5. Transparent: The GSCC’s framework aims to make the certification of products, the verification of emissions targets based on science, and the labeling for consumer/end-use applications simple.


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CCS, Decarbonization

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Japanese Consortium to Conduct Feasibility Study for CCS Project

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The Japan Organization for Metals and Energy Security (Jogmec) is conducting a feasibility study on the Japanese Advanced carbon capture and storage (CCS Project), a public offered project in FY2023.

It has selected a consortium which includes seven companies Itochu Corporation, Nippon Steel Corporation, Taiheiyo Cement Corporation, Mitsubishi Heavy Industries, Itochu Oil Exploration Co., Inpex Corporation, and Taisei Corporation.

The consortium will conduct the joint study under the Tohoku Region West Coast CCS initiative for large-scale and wide-area CCS value chain project using ship transportation, a press statement by Itochu Corporation said.

The seven companies will identify technical issues in the entire CCS value chain as well as commercial and social acceptability issues, based on the overall concept of using ships to transport CO2 separated and captured at specific plants of Nippon Steel and Taiheiyo Cement, to sites appropriate for CO2 storage to launch a concrete CCS value chain project by FY2030.

It must be noted that Japan’s Ministry of Economy, Trade and Industry has set a goal of launching a public offering of CCS value chain operators, including carbon dioxide emitting companies, and a number of advanced CCS projects by 2030. The initiative is aimed at social implementation of CCS, which is positioned as a means for decarbonization to achieve two targets of the Japanese government: carbon neutrality in 2050 and a 46 % reduction in greenhouse gas emissions (from FY2013 level) in FY2030.


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Cloud computing, Green data centre, Carbon footprint

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Wipro cloud customers can now monitor carbon footprint

Sonal Desai


Thousands of Wipro cloud computing customers will now be able to reduce energy usage and also monitor their carbon footprint.

One of India’s ten largest ITeS companies, Wipro will leverage its partnership with enterprise data storage solutions company, Pure Storage, for sustainable data centre technology.

Wipro cloud customers will have access to Pure Storage’s Pure1 Sustainability Assessment tool, which provides users with visibility into their environmental impact and proactively suggests optimization opportunities. It provides analyses of energy-saving opportunities, monitoring, evaluation, and suggestions for lowering greenhouse gas emissions and raising power effectiveness.

The two companies will use the best sustainable technology practices by lowering the direct carbon emissions from data storage systems and raising power efficiency.

The goal of this collaboration is to allow customers to drive a sustainable data centre footprint by providing more efficient strategies to minimise the environmental impact, Wipro said in a press release.

Stephanie Trautman, Chief Growth Officer, Wipro Limited, said, “Customers today are looking for sustainable technology infrastructure. Together with Pure Storage, we are helping to meet this need in the area of data storage and in data centres. Our approach involves assessing, identifying, implementing, and monitoring sustainable technologies that optimise resource utilisation and manage down waste, emissions, and energy impacts.”

According to market research, the value of the India data centre market is anticipated to grow from $4.35 billion in 2021 to $10.09 billion by 2027 at a compound annual growth rate (CAGR) of 15.07% from 2022 to 2027.

With 138 data centres, India is the 13th largest data centre market in the world, according to IBEF. Additionally, 45 new data centres with a combined 13 million square feet and 1,015 MW of capacity are anticipated to be built by the end of 2025. India’s data centre market is expected to be worth $4.35 billion in 2021. By 2027, it is projected to rise by 132% in just six years, reaching $10.09 billion.

According to another CII report, the Indian data centre market, which makes up 2% to 1% of the global market, has experienced a modest compound annual growth rate (CAGR) of 15-20%. India’s market share in the world’s data centre market is anticipated to grow over the coming ten years, so it’s critical to reduce energy consumption. Adopting a green data center rating can help projects reduce Power Usage Effectiveness (PUE) by 30% (green data centers operate at PUEs between 1.25 and 1.4, whereas conventional data centers operate at PUEs between 1.6 and 1.8, which use a lot of energy).


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