In theory, a taxonomy would help clarify an investment's green credentials and mitigate greenwashing
GreenLine to raise $275 mn equity to fund green fuel, EV truck push
Green finance, which is financing of businesses that support environmentally friendly and sustainable projects, has struggled to pick up in India due to limited awareness, high transaction costs
The green financing vertical will finance EVs, renewable energy products, energy-efficient machinery, and other sustainable solutions
In a rare occurrence, rights group Greenpeace on Tuesday put up a poster inside the main venue of the World Economic Forum Annual Meeting here, calling for taxing the super-rich. "Tax the super rich. Fund a just & green future," read the yellow poster with black letters held by two volunteers in green T-shirts on a balcony right outside the Congress hall minutes before the opening plenary was to begin there. Greenpeace International, whose executive director Mads Christensen is participating in the meeting, is an independent campaigning organisation that uses non-violent creative confrontation to expose environmental problems. Earlier on Monday, Greenpeace activists from various countries blocked the arrivals of the participants of the World Economic Forum in Davos, Switzerland at the Lago heliport. In a statement, Greenpeace said, "As the planet burns and the rich grow richer, the link between inequality and environmental destruction becomes undeniable. "The richest 1 per cent ..
Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts
The Nolans project is slated to be the country's third rare earths processing plant
The world's second-largest aviation market, with about 11 per cent of global jet fuel use, China is expected to unveil this year its policy on sustainable aviation fuel (SAF) use for 2030
In an effort to achieve net-zero carbon emissions, India will solarise rooftops of one crore households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim budget for 2024-25, she also said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and natural gas (PNG) for domestic purposes. The finance minister emphasised that the government would enable one crore households to obtain up to 300 units of free electricity every month through the rooftop solar programme. This will result in savings of up to Rs 18,000 annually for households from free solar electricity and selling the surplus to distribution companies, Sitharaman said. According to an analysis by the Council on Energy, Environment, and Water (CEEW), 20-25 gigawatts of rooftop solar capacity could be support
Sadhana Nitro Chem Ltd, which manufactures intermediate specialty chemicals, on Monday said it will set up a green hydrogen facility for captive usage and launch a rights issue to raise up to Rs 50 crore. In a regulatory filing, the company said it "will foray into land green energy for captive usage (self-consumption). The company will set up a green hydrogen facility, based on a solar plant and wind farm with a capacity of 15MW-20MW." The board also approved a rights issue, subject to necessary approvals from regulatory authorities. The rights shares are being offered at Rs 121 per share (a premium of Rs 120), and the company will look to raise up to Rs 49.95 crore. The funds for the rights issue will be mainly used for the acquisition of a 126-acre land plot. This land will be strategically employed for the establishment of both a solar power facility and a wind energy installation. "These sustainable energy sources will be harnessed to generate electricity, which, in turn, wil
In collaboration with global asset managers BlackRock, Brookfield and TPG, ALTÉRRA has committed $6.5 billion to climate-dedicated funds for global investments, including the Global South
Al-Natoor noted that there have been no governmental Sukuk issuances within this framework to date
The debut sale in January raised 80 billion rupees, garnering a so-called greenium of six basis points over the benchmark yield
The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private
Green deposits are essentially deposits raised for the purpose of utilising the proceeds towards financing of green projects/activities
he Green Fixed Deposit offers an interest rate of up to 8.50 per cent, with a minimum investment requirement of Rs 5,000.
NLC India Ltd on Monday said it has incorporated a wholly owned arm NLC India Green Energy Ltd (NIGEL) for commissioning of green projects. NIGEL will take care of planning, participating in upcoming renewable energy tenders, execution and commissioning of green energy projects, NLC India Ltd (NLCIL) said in a statement. The arm is likely to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said. The navratna public sector undertaking has already incorporated a wholly owned arm NLC India Renewables Ltd for asset monetisation. At present, 2 GW of renewable energy projects are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW solar photovoltaic power project in Rajasthan. The company's registered office is in Chennai and will start business operations in due course, as per the statement.
State Bank of India is working out the risk matrix for its borrowers wherein it gives some special credits for those embarking on green initiatives, Chairman Dinesh Khara said here on Monday. Since recently, the nation's largest lender has also been measuring the carbon footprint of its Rs 33-lakh crore portfolio at the account level in an attempt to mitigate climate risks and provide sustainable financing, he said. At the bank level we have started working out the risk matrix of our borrowers wherein we give some special credits to those embarking on green initiatives, the chairman said at a Ficci event here. However, he did not elaborate. Khara, who has been warning against green-washing, also called for better project reports for green financing so that the information asymmetry that plagues the green funding space can be mitigated. He also stressed on the need for a policy framework to promote the awareness on green finance ecosystem. There is a need for the chartered accoun
Electric mobility player GreenCell Mobility on Thursday said it has signed a green financing deal with Standard Chartered Bank for its Rs 125-crore Surat E-Mobility project. Surat E-Mobility project consists of 150 electric buses in Gujarat and aims to reduce 1 lakh tonne of CO2 emissions over the project lifetime, the company said in a statement. "GreenCell has availed green loan by the leading global bank, Standard Chartered Bank, in a significant move to step up our efforts towards transforming India's electric transportation landscape. "The green financing secured for our project will not only boost our operations but also reaffirm our leadership in the e-mobility sector in India," GreenCell Mobility CEO and Managing Director Devndra Chawla said. The company claimed that this is the first green loan project finance facility for an e-mobility project in India and globally by the Standard Chartered Bank. "We are delighted to support GreenCell Mobility on this landmark financing,
The city-based Refex group engaged in diverse businesses has expanded its Green Mobility vertical here, a top official said on Monday. The company had launched the Refex Green Mobility Ltd business in Bengaluru in March this year and has now forayed into the Tamil Nadu market, Refex Group Managing Director Anil Jain said. According to him, the company currently has 497 electric vehicles, nine clients including one in Chennai and engaged in discussions with 30 other customers under the Green Mobility vertical. Jain, in an interaction with PTI said, the company serves clients in the transportation of their employees from office to residence or residence to office with battery operated vehicles as against the earlier mode of transport which is on vehicles run on internal combustion engine (ICE). "We are an employee transportation company catering to B2B (business to business). We want to cater to corporates across India. We started the operations in Bengaluru in March, now we have ...