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Tata Communications Adopts SLL Framework

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To ensure that its environmental commitments are met, Tata Communications has implemented a sustainability-linked loan (SLL) framework for all upcoming long-term debt financing.

The initiative, which is the first of its kind in India, demonstrates the company’s commitment to sustainability leadership and ethical business practices.

Loans that follow the SLL framework, as opposed to conventional loans, have margins that are linked to particular carbon emission reduction targets (or non-financial covenants), which encourages ongoing sustainability performance improvement.

In a communique to the BSE, Tata Communications said that it hopes to bring about significant change and strengthen the integration of the Tata Group’s overall sustainability goals with its own capital structure by directly connecting its loan margins to environmental impact.

Additionally, the approach’s transparency and accountability are meant to draw capital from investors who share the company’s commitment to environmental responsibility and sustainability.

By linking SLL margins to measurable targets, it demonstrates a commitment to quantifiable results, allowing stakeholders to track progress and recognize milestones.

Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications said: “Sustainability isn’t just a buzzword for us — but a core principle that drives our business decisions. Adopting a holistic approach through the SLL framework underscores our commitment to making tangible progress towards a more sustainable future while driving responsible growth in our industry.”

It must be noted that Tata Communications’ broader commitment to promoting positive change throughout its supply chain and operations is reflected in its adoption of the SLL framework.

The Science Based Targets initiative (SBTi) has validated the company’s emissions reduction targets, and the company has committed to becoming Net Zero by 2035 across its global operations.


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DHL, Aragen Partner for Scope-3 Emissions

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DHL Express and Aragen Life Sciences have partnered for DHL’s GoGreen Plus service to reduce scope-3 emissions.  

Aragen becomes the first DHL customer to use the GoGreen Plus service across all its overseas trade lanes including the American and European routes. 

GoGreen Plus uses SAF to enable customers to reduce scope-3 emissions, which include the CO2e emissions associated with their freight. 

 Unlike offsetting initiatives, GoGreen Plus (insetting) reduces emissions within the logistics sector. Therefore it can be used for DHL customers’ voluntary emission reporting. 

The service uses sustainable aviation fuel (SAF) to enable customers to reduce scope-3 emissions. For Aragen, it supports the company’s goal to reduce carbon emissions in international shipments.

GoGreen Plus, introduced in India, is made possible by large agreements with important suppliers. These include World Energy, BP, and Neste, who manufacture SAF using alternative raw materials with a sustainable energy profile.

R S Subramanian, Senior Vice President, South Asia, DHL Express, said, “Now more than ever, it has become necessary to address the problem of scope-3 emissions. With our GoGreen Plus service, we are assisting customers in this journey. We hope this agreement inspires others to adopt sustainable practices and embrace low-emission transport services through sustainable aviation fuel.”

Manni Kantipudi, CEO, Aragen Life Sciences, said, “Sustainability and ESG are key priority areas for Aragen. The collaboration with DHL Express will help us achieve our near-term target under SBTi by 2032. As a socially and environmentally responsible corporation, Aragen is committed to reducing carbon emissions produced while shipping internationally. The GoGreen Plus service will enable us to achieve this. Aragen and DHL have a long-standing association and this collaboration underscores our mutual commitment to responsible sustainable practices and managing our scope emissions with carbon insetting.”


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Lodha Receives SBTi Validation for Net-Zero Targets

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Real estate developer, Lodha, has received net-zero targets validation by the Science Based Targets Initiative (SBTi).

Lodha’s journey towards net zero includes a near-term commitment to a 97.9% reduction in Scope-1 and -2 emissions by FY2028 and a 51.6% reduction in Scope-3 emissions by FY2030. The long-term net-zero targets are aligned with the 1.5°C goal outlined in the Paris Agreement, essential in mitigating global warming and climate change impacts, the company said in a press release.

Aun Abdullah, Head, ESG, Lodha said, “This milestone not only strengthens the credibility of our net-zero goals but also underscores our vision to redefine urban development, creating a sustainable low-carbon future for all.”

It must be noted that Lodha was also recognized as a Global Sector Leader, ranking first among developers in Asia on the GRESB Development Benchmark 2023. The developer also earned a spot among 17 leading companies in the Dow Jones Sustainability Index (DJSI) 2023 with a score of 77 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA).

Lodha has crystallized its vision of ‘Building a Better Life’ by collaborating with Rocky Mountain Institute (RMI) to create the Lodha Net Zero Urban Accelerator, its flagship decarbonization platform that brings industry, experts, and policymakers together to help create a net zero future for all.


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SRK becomes first diamond company in the world to adopt SBTi

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Surat-based Shree Ramkrishna Exports Pvt. Ltd. (SRK), become the first diamond company in the world to commit to  Science-Based Targets Initiative (SBTi) guidelines. This commitment further cement SRK’s role in the diamond sector as a global leader in ESG. The company has committed to establishing near-term science-based emission reduction targets and to achieving net zero emissions for its diamond crafting facilities by next year.

SBTi is recognized as one of the world’s most influential emission reduction mechanisms. The SBTi was developed to advance the goals set in the Paris Agreement and drive ambitious climate action by enabling organizations to set science-based emissions reduction targets.

SRK is committed to working closely with SBTi to develop emission reduction action plans covering various domains, including corporate operations, product research and development, and supply chain management.

Said Dr. Nirav Mandir, Chief Human Capital Officer at SRK, “The company embraces sustainability at each step and has been recognized for notable growth in corporate social responsibility commitments, leadership in community welfare initiatives, implementation of more sustainable practices, and improvements in stakeholder experience. We firmly believe in the power of collective action to address climate change and are honoured to work alongside the other companies around the world who are part of the SBTi network to advance a zero-emissions world.”

The company has taken various measures in decarbonization. The two diamond crafting facilities, SRK Empire and SRK House, are both LEED Platinum certified. In partnership with the Global Network for Zero, SRK has also committed to achieving net zero certification at both SRK Empire and SRK House by 2024 – six years ahead of their original commitment of 2030. The company is planning to release their Pure Impact report in the coming days, highlighting what it achieved in education, healthcare, community, employee welfare, sustainability, and more.


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Microsoft adds ESG Reporting, Scope 3 emissions to Sustainability Platform

Sonal Desai


Microsoft is adding new features to its sustainability platform-Microsoft Cloud for Sustainability.

Key capabilities include helping companies meet emerging ESG reporting requirements and regulations, calculating Scope 3 emissions, and collecting and managing ESG data across categories and data sources.

Additional features:
The additional features include an expansion of Microsoft Cloud for Sustainability’s emissions calculation capabilities to include all 15 categories of Scope 3, or value chain, emissions.

How do these features support global mandates?
Microsoft is adding capabilities to track progress against Science Based Targets initiative (SBTi) designations. A new CSRD template to help organizations collect data needed for the European Sustainability Reporting Standards (ESRS) underlying the EU’s Corporate Sustainable Reporting Directive (CSRD) will begin applying in 2024. Microsoft will also introduce prebuilt reporting templates for other ESG regulations and standards as they are defined and implemented.

Spokesperson speak:
Satish Thomas, Corporate Vice President, Microsoft Industry Clouds, said, “Our initial release of the Microsoft Cloud for Sustainability data model focused on the pressing need to address carbon emissions. We have since expanded the data model to include water and waste. These data models centralize data to help streamline data ingestion, sharing, calculations, and reporting. This includes data from across the enterprise—enterprise resource planning (ERP), the Internet of Things (IoT) sensor, plant data, telemetry at the edge—and external sources including suppliers, utility companies, transportation, and more.”


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