Page 2 - Sustainable Firms

DCM Shriram gets Rs 100 cr sustainable finance from Standard Chartered Bank

DCM Shriram Ltd on Wednesday said it has secured Rs 100 crore sustainable finance from the Standard Chartered Bank to fund the upcoming compressed bio-gas plant in Uttar Pradesh. The compressed bio-gas plant with 12 tonne per day capacity at the Ajbapur Sugar Unit will produce compressed bio-gas using 'pressmud' as feed stock, a waste generated in the sugar manufacturing process, the company said in a statement. DCM Executive Director and Group CFO Amit Agarwal said this is the company's second sustainable finance transaction in the last six months. Standard Chartered Bank Executive Director (Sustainable Finance) Shobana Chawla said sustainable financing continues to be one of the strategic priorities at the bank. "We have been assisting our clients transition to net zero, and at a group level have committed to mobilise USD 300 billion in sustainable finance by 2030. This facility to DCM Shriram is one such initiative," she added. DCM Shriram is in the diversified business of ...

All that glitters is not gold for Reserve Bank & FinMin

Rightly so. Since November 1962, there have been many attempts to monetise gold. It's finally happening, but we must look for sustainable growth

Nexgen Energia to invest Rs 3,000 cr to set up CBG plant in Gujarat

Sustainable energy solutions company Nexgen Energia on Wednesday said it will invest around Rs 3,000 crore to set up a compressed biogas (CBG) plant in Gujarat. The company presented a proposal for its investments in the state during a meeting with Gujarat Chief Minister Bhupendrabhai Patel. After the commencement of the CBG plant, it will start supplying compressed biogas directly to the CNG pumps, the company said. "Nexgen Energia will invest more than Rs 3,000 crore and will set up a CNG Compressed Biogas (CBG) plant in Gujarat and apart from this, it will also set up EV units and other related setups in the state. A proposal for this has been presented to the Gujarat government, and soon, we will sign an MoU for this. "Organic fertiliser that would be made in the process of making CNG from stubble and waste through the CBG plant, will be made available to the farmers from whom the stubble would be procured," Nexgen Energia MD Piyush Dwivedi said. An investment of Rs 3,000 cror

Juniper Green Energy, Envision tie up to develop 300-MW wind project in Guj

Juniper Green Energy and Envision Energy have collaborated for the development of a 300-MW wind energy project in Gujarat. As per the partnership, Envision will supply 91 units of EN 156-3.3 MW WTGs (wind turbine generators) and oversee the installation, commissioning and maintenance of all WTGs. The project is expected to be commissioned in a phased manner by the end of 2025 and will produce 1,000 GWh units of clean energy annually, according to a statement. Naresh Mansukhani, CEO, Juniper Green Energy, said in the statement, "We are happy to collaborate with Envision Energy for the development of this wind project." RPV Prasad, CEO, Envision Wind Power Technologies India, said, "As part of our commitment to the Atmanirbhar Bharat vision, we would be assembling the nacelle and hubs for the wind turbines at our Pune factory, while towers and blades will be sourced locally." Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said, "Together wit

TotalEnergies, ONGC join forces to detect, measure methane emissions

TotalEnergies and state-owned Oil and Natural Gas Corporation (ONGC) have signed a cooperation agreement to carry out detection and measurement of methane from the Indian firm's operations using the French company's pioneering technology. ONGC is aiming to curb emission of methane, a greenhouse gas, from its oil and gas operations as part of its decarbonisation drive. It will now use TotalEnergies' pioneer AUSEA (Airborne Ultralight Spectrometer for Environmental Applications) technology to detect and measure methane emissions, the two firms said in a statement. The Cooperation Agreement was signed by Sangkaran Ratnam, Country Chair of TotalEnergies in India and Sushma Rawat, Director (Exploration), ONGC on the sidelines of India Energy Week. "ONGC has been inviting international technology partners to help reduce its methane emissions in India by 2030, while TotalEnergies has decided to share its AUSEA technology in an effort to pivot the whole industry towards zero methane emissi

Coal sector PSUs brought 18,849 hectares under green cover in decade: Govt

The public sector units operating in the coal sector have brought 18,849 hectares under green cover in the last 10 years by planting 42.3 million saplings, the government on Monday said. The move shows the commitment of the coal sector to environment-friendly sustainable mining practices, the coal ministry said in a statement. The coal public sector units have identified about 3,075 hectares of afforested non-forest de-coaled land suitable for Accredited Compensatory Afforestation (ACA). The proposals have been submitted to the respective state forest departments by coal PSUs for appropriate notification of the afforested non-forest de-coaled land as an ACA land bank to expedite forest clearance for future coal mines requiring forest land diversion, the coal ministry said in a statement. Bishrampur Opencast Project by Coal India arm South Eastern Coalfields Ltd in Surajpur District of Chhattisgarh is an example of adherence to Accredited Compensatory Afforestation (ACA) guidelines,

Dr Reddy's becomes 1st Indian pharma firm on Dow Jones Sustainability index

Dr. Reddy's Laboratories Ltd on Thursday said it has won back-to-back global recognitions for its commitment and progress on sustainability and Environment Social and Governance (ESG) agenda. Dr. Reddy's has become the first Indian pharma company to earn a place in the Standard & Poor Dow Jones Sustainability World Index (DJSI World) for 2023, a press release from the drug maker said. Alongside its debut in DJSI World, the company retains its place in the Dow Jones Sustainability Index for Emerging Markets (DJSI EM) for the eighth year in a row based on Dr. Reddy's performance in the Standard & Poor Global Corporate Sustainability Assessment (S&P Global CSA) and additional screening criteria. Separately, Dr. Reddy's has been awarded Gold Medal' status by EcoVadis, the global sustainability ratings agency, for its score of 70 out of 100 in its scorecard for 2023. G V Prasad, Co-Chairman & Managing Director, Dr. Reddy's, said: As a company with over two decades of ...

India's goal to clean up transport with sustainable aviation fuel

Around the world, more than 360,000 flights have already been powered by SAF

Johnson Controls Apac president bullish on India's 'sustainable' demand

While the Paris Agreement has accelerated clients' sustainability agenda, Rathninde believes it is much more than that

'Retail investors could mobilise $543bn for climate action in India'

The results are based on a survey of 1,800 respondents in 10 markets across Asia, Africa, and the Middle East

Indian consumers ready to pay 20% premium for sustainable products: Survey

Bain Global Consumer Lab surveyed over 23,000 consumers in 11 countries for The Visionary CEO's Guide to Sustainability

Sustainable finance will foster economic growth: Deputy Guv Swaminathan J

He said that lenders need to go beyond mere compliance and must imbue the organisation's practices with sustainable finance principles in order to foster a culture of financial inclusion

Lego looks toward sustainable materials despite failed recycle attempt

Denmark's Lego said on Monday that it remains committed to its quest to find sustainable materials to reduce carbon emissions, even after an experiment by the world's largest toymaker to use recycled bottles did not work. Lego said it has decided not to progress" with making its trademark colourful bricks from recycled plastic bottles made of polyethylene terephthalate, known as PET, and after more than two years of testing "found the material didn't reduce carbon emissions. Still, the toymaker remains "fully committed to making Lego bricks from sustainable materials by 2032, it added Two years ago, the privately-held group which makes its bricks out of oil-based plastic, started researching a potential transition to recycled plastic bottles made of PET plastic, which doesn't degrade in quality when recycled. It had invested more than USD 1.2 billion in sustainability initiatives as part of efforts to transition to more sustainable materials and reduce our carbon emissions by 37 pe

Clix Capital gets $20 mn loan for promotion of sustainable projects

NBFC firm Clix Capital on Monday said it has signed an agreement with Global Climate Partnership Fund (GCPF) for USD 20 million (about Rs 160 crore) loan. GCPF is a Luxembourg-based innovative impact investing fund managed by responsAbility Investments AG. It finances renewable energy and energy efficiency projects across several developing and emerging nations directly and indirectly. The funding will be earmarked for sustainable projects that help to mitigate climate change, Clix Capital MD and CEO Rakesh Kaul said. He said the deployment of the fund would be done in the next six to eight months. The funding would be made to MSMEs, such as suppliers of solar power manufacturers or those engaged in waste management working towards the reduction of carbon emission, he added. "As climate change mitigation becomes a cross-policy agenda globally, our efforts are aligned to advance sustainable and green lending. As a responsible lender, we are committed to supporting India's green jo

Closing the green gap: 17% of businesses have calculated carbon output

Indian businesses today recognise the potential of sustainability to unlock business value, a recent study says

Nestle to invest $1 billion towards sustainable coffee farming plan

The new plan builds on a previous coffee-sustainability effort that started 12 years ago involving around 100,000 farmers; the goal is to double that in the coming years

How smart factories are turning green

Two factories in India are leading the use of emerging technologies for sustainability as part of the WEF Lighthouse network

From rags to riches: Indian designer finds sustainable way to high fashion

The roughly $2.4 trillion global fashion industry accounts for 8-10% of the world's carbon emissions

US election 2020: Climate goals may suffer even if Donald Trump loses

Independent of the US presidency, however, states and companies have committed to climate goals and investment in sustainable technologies

The fund managers, the sleuths and the mystery of the missing ESG

Accompanied by a cameraman, Beslik spent 10 days meeting villagers and taking samples from streams close to the plants supplying companies that his then-firm had invested in