Hindustan Zinc, a Vedanta group company, is exploring zinc applications in batteries to support the global energy transition. The company is partnering with AEsir Technologies to develop next-generation zinc batteries, which offer advantages over lithium-ion batteries in terms of cost, safety, and environmental impact. This initiative aligns with Hindustan Zinc's strategy to enhance production volume, reduce costs, and create value for stakeholders, contributing to a more sustainable future.
LOHUM is set to invest over Rs 2,000 crore in establishing India's largest battery recycling plant at Shoolagiri, Krishnagiri district. Spanning 65 acres, the facility aims to produce 20 gigawatt hours of cathode active materials for battery manufacturing. The plant, expected to create 1,000 jobs, will focus on recycling used batteries and rare earth magnets, contributing to sustainable use of critical minerals. The project underscores India's shift towards sustainable energy solutions and resource efficiency.
CEID Consultants & Engineering Pvt Ltd has set an ambitious target to more than triple its daily biogas production, aiming for over 350 tonnes from the current 100 tonnes. This expansion involves setting up new plants in collaboration with IOCL, BPCL, and HPCL, using a variety of waste materials like cow dung, poultry litter, and agricultural residues. This initiative supports sustainable waste management and energy production, potentially addressing stubble-burning issues and contributing to India’s renewable energy goals.
The decarbonization of the petrochemical industry, essential due to its significant climate impact, requires multi-sector collaboration. Driven by sustainability mandates from end-use companies and regulatory policies, multiple pathways including bio-based feedstocks, enhanced recycling, steam cracking electrification, and carbon capture are being explored. These efforts necessitate substantial investment and robust policy support to achieve net-zero emissions by 2050.
Karnataka's first waste-to-energy plant in Bidadi is set to commence trials by mid-July. This pioneering facility aims to convert municipal waste into electricity, addressing waste management issues and providing a sustainable energy source. The project represents a significant step towards sustainable waste management and energy production in the region.
Jakson Green is partnering with NTPC to establish the first 4G ethanol project. This innovative venture aims to produce ethanol from lignocellulosic biomass, promoting cleaner fuel alternatives and reducing carbon emissions. The project underscores the importance of sustainable biofuel solutions in achieving energy transition goals.
In 2023, a record $1.8 trillion was invested in renewable energy, but it still falls short of the targets set for COP28, according to an EY report. The current pace of investment is insufficient to meet the global climate goals. Significant increases in funding and strategic initiatives are necessary to bridge the gap and accelerate the transition to a sustainable energy future.
Bharat Petroleum Corporation Limited (BPCL) is investing Rs 1,400 crore to develop Sustainable Aviation Fuel (SAF) facilities at its three refineries in Mumbai, Kochi, and Bina. This initiative aims to achieve a 5% SAF blend by 2030, aligning with government targets and utilizing waste materials like agricultural residues and used cooking oil.
Japan could achieve energy independence by 2060 through significant investments in renewable energy, according to Rystad Energy CEO. The transition will involve substantial growth in solar, wind, and battery storage technologies, positioning Japan as a leader in clean energy adoption. This shift promises economic and environmental benefits, reducing reliance on fossil fuels and enhancing energy security.
Pittsburgh International Airport (PIT) is set to become the first major U.S. airport to produce sustainable aviation fuel (SAF) on-site, thanks to partnerships with KeyState Energy, CNX Resources, and SkyClean. These projects aim to enhance the airport's sustainability, create jobs, and support the aviation industry's decarbonization goals. This initiative underscores PIT's commitment to clean energy pathways and economic development.
CEOs prioritize sustainability more than last year, short-term focus shifts to technology investments. Business leaders in the Americas lead this trend, but 18% have deprioritized ESG goals due to economic pressures. Decarbonization remains a long-term priority, but tech and cost management dominate immediate concerns.
CEOs of Canada's top banks pledged commitment to climate action while acknowledging the challenge of reducing fossil fuel funding. Despite setting net-zero targets for 2050, MPs criticized the banks' vague commitments and lack of transparency. Environmental activists highlighted the need for actionable plans to achieve meaningful climate progress.
Yara International inaugurated a 24 MW renewable hydrogen plant at Herøya, Norway, producing low-carbon ammonia and fertilizers. This plant cuts 41,000 tonnes of CO2 annually, advancing decarbonization in agriculture and shipping. Yara's low-carbon fertilizers, part of the Yara Climate Choice portfolio, are a significant step towards sustainable food production.
Bloom Energy is collaborating with Sembcorp to deploy low-carbon energy solutions in India. This partnership aims to reduce carbon emissions and enhance energy efficiency through innovative technologies. The initiative underscores the commitment to sustainable development and cleaner energy in the Indian market.
Thyssenkrupp Uhde is pioneering the transition to a sustainable chemical industry through innovative CO2-neutral solutions. By constantly reevaluating and optimizing their processes, they aim to reduce the sector's significant carbon footprint. Key projects, like the energy-efficient MOL polyol plant in Hungary, showcase their commitment to using greener feedstocks and minimizing emissions. This holistic approach aligns with European climate targets and emphasizes the balance between classic and sustainable practices.
Knut Ørbeck-Nilssen highlighted the maritime industry's struggle with green fuel scarcity and retrofitting challenges at the Energy Efficiency in Focus Seminar. Emphasizing dual-fuel vessels' high capital costs and the significant gap between political ambitions and achievable industry standards, he suggests prioritizing energy efficiency in the current fleet.
Aniruddha Sharma, CEO of Carbon Clean, discusses the company's groundbreaking CycloneCC technology, which significantly reduces the cost and size of carbon capture solutions. With its first deployment in the Middle East, this technology aims to revolutionize industrial decarbonization, supported by strong regional investments and partnerships.
Kallevik became Hydro's new president and CEO, launching a strategy to pioneer the green aluminium transition by 2030. Major projects include the HalZero technology to decarbonize aluminium smelting, a carbon capture system for existing plants, and increased use of end-of-life scrap. Hydro also opened a new public affairs office in Washington DC to support these initiatives in the US.
The Science Based Targets initiative (SBTi) has spoken out on the complexities and challenges surrounding carbon credits. By providing clear guidelines and advocating for transparency, SBTi aims to restore credibility and effectiveness to carbon offset markets. This intervention is crucial for ensuring that carbon credits contribute meaningfully to global decarbonization efforts.
GPS Renewables, an Indian clean fuels technology company, in partnership with Dubai-based SAF One, plans to construct a facility in India for producing 20-30 million liters of Sustainable Aviation Fuel (SAF) annually using lignocellulosic waste. The project aligns with India's strategy to mandate SAF blending in aviation fuels starting in 2027. The collaboration aims to boost India's adoption of clean fuels and strengthen its aviation sector's clean energy infrastructure.
Siemens Energy CEO emphasizes China's indispensable role in global energy transition efforts, highlighting its dominance in solar and wind energy sectors. Collaborative international strategies are essential to achieve decarbonization goals. The transition requires leveraging China’s advancements and capacity in renewable energy technologies.
Aemetis CEO Eric McAfee criticizes current U.S. tax incentives for Sustainable Aviation Fuel (SAF) as ineffective, stressing the necessity to extend Section 40B to genuinely promote SAF production. The company highlights challenges faced due to fluctuating LCFS credit prices and discusses strategies to ensure financial viability for their Riverbank SAF plant.
Shareholders at Cummins' AGM will vote on a proposal to tie CEO pay to the company's GHG emission reduction targets. This move follows Cummins' record-breaking $1.675 billion penalty for emissions cheating. As You Sow emphasizes the need for accountability in meeting climate goals, especially as emissions from Cummins' products continue to rise.
SJVN Limited, led by CMD Nand Lal Sharma, is aggressively expanding into solar, wind, floating solar, green hydrogen, and battery energy storage systems (BESS) to meet evolving market demands. With a portfolio of 56,894.4 MW, SJVN aims to support India's renewable energy goals by addressing challenges like land acquisition and grid stability while leveraging technological advancements and regulatory support.
Despite a challenging market, 60% of CEOs are optimistic about revenue growth and maintain a focus on sustainability. The EY CEO Outlook Pulse highlights diverging priorities between CEOs and investors, with technology and AI investments emerging as top strategic focuses for enhancing productivity and managing risks.
InoxGFL plans to invest Rs 20,000 crore to expand its green energy and chemicals business over the next 4-5 years. This substantial investment aims to bolster their capacity in renewable energy and environmentally friendly chemicals, driving sustainability and innovation in the industry. The initiative aligns with India's broader goals of reducing carbon emissions and fostering economic growth through green technologies.
Gruner Renewable Energy has secured contracts worth INR 1500 crore to develop compressed biogas (CBG) projects across India. These projects aim to convert organic waste into biogas, providing a sustainable energy source and reducing waste. The significant investment highlights the growing interest and support for renewable energy solutions in the region. Gruner Renewable Energy plans to leverage these projects to enhance energy security and promote environmental sustainability. This initiative aligns with national goals to increase the use of cleaner energy sources and reduce carbon emissions. The projects are set to bolster the renewable energy infrastructure in India.
Sterling & Wilson Renewable Energy Ltd. (SWREL) is a global leader in renewable EPC solutions with a 16 GWp portfolio, focusing on the Middle East for expansion. The company's landmark project, Noor Abu Dhabi PV Project, underscores its regional leadership. SWREL leverages abundant sunlight, economic diversification, and technological advancements to drive growth in the solar energy sector.
Jim Fitterling, CEO of Dow, calls for governments to include mandatory recycling measures in the upcoming global plastics treaty. He argues that without strict mandates, voluntary efforts will fall short of addressing the plastic waste crisis. Fitterling highlights the need for a circular economy, where plastics are consistently reused and recycled, to mitigate environmental impact and promote sustainability.
Bihar is heading India's ethanol production with 47 approved plants, enhancing local maize markets and agricultural profitability. This aligns with national goals to blend ethanol with petrol, reducing import dependency and carbon emissions, supported by favorable state policies and subsidies.
Volvo Trucks is leading the way towards zero-emission fleets by 2040, focusing on battery-electric, fuel cell, and renewable internal combustion technologies. Despite initial cost concerns, Volvo believes green fleets will ultimately be more profitable due to growing customer demand for sustainable transport solutions.
Strategic Biofuels has received a significant investment from Magnolia Sustainable Energy Partners to advance its Louisiana Green Fuels project. This collaboration aims to develop an ultra-low carbon negative sustainable aviation fuel (SAF) plant, leveraging expertise in carbon capture and sequestration to meet global sustainability goals.
JSW Energy's Joint MD and CEO, Sharad Mahendra, highlighted the company's strategic readiness to capitalize on India's growing peak power demand, which is projected to reach 335 GW by FY30. With a significant QIP fundraise, JSW aims to accelerate its green energy production, reinforcing its vision to become a leading producer by preponing its 20 GW target.
Stride Ventures plans to invest up to USD 1 billion in cleantech globally over the next 4-5 years, building on its USD 120 million investment in India's climate-focused startups. The firm is expanding its international investor engagement while strengthening its domestic portfolio, highlighting a significant commitment to sustainable development and the EV ecosystem.
Adani Total Gas has commenced production at its Barsana biogas project, leading to an 8% surge in its stock price. This initiative is part of the company's broader strategy to enhance sustainable energy solutions and reduce carbon emissions by leveraging biogas technology.
Hitachi Energy CEO Claudio Facchin and SSE CEO Alistair Phillips-Davies emphasized the urgency of scaling up investments and enhancing grid infrastructure to accelerate the renewable energy transition. They highlighted the critical role of policy in unlocking financing and the importance of collaborative partnerships to navigate supply chain challenges and achieve a sustainable energy future.
Energy leaders debated the future of U.S. energy, juxtaposing the potential of low-carbon sources with the demands of increasing fossil fuel production. The conference highlighted the durability of the Inflation Reduction Act and differing industry perspectives on government policies and election outcomes. AI's role in the energy sector and concerns over mineral production for clean energy projects were also key topics.
Praveer Sinha, CEO of Tata Power, forecasts an 8-9% annual growth in India's power demand, with a significant cost reduction by 2030 due to advancements in clean energy and battery storage. Sinha emphasizes the need for reliable 24x7 power availability through enhanced battery storage and predicts a substantial increase in renewable energy capacity.
Saudi Aramco CEO Amin Nasser labeled the current global energy transition strategy as flawed, calling for a more realistic and inclusive approach. Nasser emphasized the need for continued investment in oil and gas alongside renewable energy to ensure a stable and affordable energy supply. He warned that the current strategy risks creating energy security issues and economic instability.
India is on course to reach its ambitious 500 GW renewable energy goal by 2030, thanks to supportive government policies and substantial investments. Sembcorp India's A. Nithyanand highlights the nation's advancements in renewable energy infrastructure, driven by technological innovations and strategic initiatives. Sembcorp India is playing a pivotal role in this transition, focusing on expanding its green energy capabilities.
AXA CEO Thomas Buberl discussed the significant impact of climate change on the insurance industry. He emphasized the need for the sector to adapt to increasing climate risks, highlighting AXA's strategies for managing these challenges. Buberl also stressed the importance of collaborative efforts and investments in sustainability to mitigate the adverse effects of climate change.
India is making significant strides in the green hydrogen sector. A report by Alvarez & Marsal highlights India’s ambitious plans to tap into the green hydrogen market, aiming for $3–5 billion in exports and $7–15 billion in import substitution within the next decade. This strategic move aligns with global shifts toward sustainable energy sources and positions India as a key player in the emerging green energy market.
Sainsbury's CEO Simon Roberts warns that inconsistent government sustainability policies risk harming UK farming. He urges for a supportive policy framework to sustain domestic production, enhance biodiversity, and reduce carbon emissions. Sainsbury’s commitment to long-term supplier relationships aims to bolster investment and sustainability in farming.
H&M and Vargas have initiated a closed-loop textile recycling venture, aiming to revolutionize the fashion industry's sustainability practices. This collaboration focuses on recycling used textiles into new fabrics, significantly reducing waste and promoting circular economy principles. The venture is a substantial step towards achieving a more sustainable fashion industry.
International Airlines Group (IAG) has signed its largest sustainable aviation fuel (SAF) agreement with Twelve, securing 785,000 tonnes of advanced e-SAF over fourteen years. This power-to-liquid fuel, made from CO2, water, and renewable energy, will support IAG’s five European airlines in reducing lifecycle emissions by up to 90% compared to conventional jet fuel.
Tony Fernandes criticizes reliance on SAF mandates over operational efficiency improvements at airports. He suggests enhancing air traffic management to reduce fuel use and costs, while SAF remains a costly and limited option.
EverEnviro and Thermax Bioenergy teamed with Danish company European Sustainable Solutions to incorporate cutting-edge Gemidan Ecogi technology into municipal solid waste-based compressed biogas (CBG) plants across India. This strategic partnership aims to enhance biogas production efficiency, contribute to urban waste management solutions, and support India's clean energy initiatives.
Airbus CEO Guillaume Faury announces plans for a successor to the A320neo, utilizing a new platform designed to burn sustainable aviation fuel (SAF). This development aims to significantly reduce aviation emissions and support the industry's decarbonization efforts. The initiative underscores Airbus's commitment to sustainable aviation solutions amid growing environmental concerns.
Launched at COP26, FMC has grown into a global coalition of 96 companies driving decarbonization in heavy-emitting sectors. With a focus on steel, cement, aluminium, and more, FMC aims to reduce 31 million tons of CO2 annually by 2030. Norwegian companies like Yara and Hydro are key members, spearheading innovative projects and partnerships.
Executives from the renewable energy industry have outlined key trends and challenges shaping the sector. A major focus is on the rapid adoption of solar and wind technologies, driven by government policies and decreasing costs. However, challenges such as regulatory hurdles, financing difficulties, and infrastructure limitations remain significant. Industry leaders emphasize the need for continued innovation and supportive policies to sustain growth. Collaboration between stakeholders is seen as crucial for overcoming these obstacles. The insights provided by these executives offer a roadmap for future developments in the renewable energy landscape.
Asia Pacific, driven by growing energy demands, is shifting from coal to greener alternatives. Paul Everingham of ANGEA emphasizes the critical role of natural gas and CO? capture technologies in this transition, advocating for an integrated approach to create a circular carbon economy and reduce emissions effectively.
Indraprastha Gas Limited (IGL) has signed MoUs to set up 19 compressed biogas plants in Delhi, Haryana, Rajasthan, and Uttar Pradesh. This initiative aims to produce 0.45 MMSCMD of biogas, benefitting municipal authorities, farmers, and the public with cheaper, cleaner energy solutions.
India's cleantech sector is making strides with open access solar projects, providing significant cost savings and energy security for businesses. These projects enable direct power purchase agreements with developers, fostering a competitive market. Key drivers include favorable government policies and increased corporate sustainability goals. Stakeholders such as corporate leaders, startups, and investors play crucial roles in this transition.
Maritime CleanTech, led by CEO Ada Jakobsen, collaborates with key companies to advance green initiatives in the maritime sector. Partners include Havila Kystruten, Edda Wind, Kongsberg Maritime, Green H, and WindSteel Technologies, focusing on zero-emission shipping, offshore wind operations, and hydrogen infrastructure to promote sustainable maritime practices.
McCain Foods is heading a shift towards regenerative agriculture, with 51% of its global potato acreage adopting sustainable practices. Their innovative framework aims to improve soil health, water quality, and biodiversity while reducing emissions. Central to this effort are partnerships with 3,500 farmers and initiatives like Farms of the Future, driving substantial progress towards 100% regenerative agriculture by 2030.
Danfoss has launched the Asia Pacific's first Sustainability Technology Center (STC) in Singapore, showcasing decarbonization solutions and fostering sustainable innovation. Supported by the Singapore Economic Development Board, the STC will empower local partners through training and partnerships. The center will also feature Danfoss' advanced technologies in marine electrification and energy-efficient buildings, contributing to Singapore's sustainability goals.
SAEL has secured a $1 billion investment from Värde Partners to enhance its renewable energy portfolio. The funds will support the development of new solar and biomass projects, contributing to India's clean energy goals. This strategic partnership aims to accelerate SAEL's growth in the renewable sector, emphasizing sustainability and innovation.
Olam Agri has launched the largest certified regenerative agriculture programme in the cotton supply chain. Starting in the U.S. and Côte d’Ivoire, the initiative will soon expand to Australia and Brazil. The programme aims to enhance soil health, sequester carbon, and provide fully traceable, sustainably grown cotton to global markets.
SpaceX's Starlink and John Deere are partnering to bring satellite-enabled internet to rural farms, enhancing precision agriculture. This collaboration aims to automate farming tasks, increase productivity, and reduce environmental impacts. Improved connectivity will allow farmers to efficiently manage resources and operations remotely. This technology is vital for boosting agricultural output and sustainability.
Chevron CEO Mike Wirth emphasizes growing both traditional and low-carbon energy sectors to meet increasing global demands. The company targets reducing carbon intensity while investing in renewable technologies, maintaining energy affordability, reliability, and environmental consciousness.
Euronav, under the leadership of its new CEO, is set to acquire 120 low-carbon ships in a major move towards sustainable maritime transport. This strategic investment aims to significantly reduce the company's carbon footprint and align with global environmental goals. The initiative not only reinforces Euronav's commitment to innovation and sustainability but also positions the company as a leader in the green transformation of the shipping industry.
First Solar has signed a 15-year PPA with Cleantech Solar to construct 150 MW of solar and 16.8 MW of wind assets in Tamil Nadu. This partnership aims to supply 7.3 GWh of clean electricity to First Solar's manufacturing facility, offsetting nearly 7,000 kilotons of CO2 emissions over the agreement's duration.
First Solar has announced plans to power its new module factory in India using solar and wind energy. The company aims to enhance sustainability and reduce carbon footprint by relying on renewable energy sources. This move aligns with India's growing emphasis on green energy and contributes to the global push for decarbonization. By integrating solar and wind power, First Solar showcases a commitment to innovation and environmental responsibility. This project is expected to set a benchmark for sustainable manufacturing in the region. The initiative also highlights the potential of renewable energy in industrial applications.
Shahi Exports is on a mission to transition to 100% renewable energy. By integrating sustainable practices and renewable energy sources, the company aims to significantly reduce its carbon footprint. This initiative highlights Shahi Exports' commitment to environmental stewardship and industry-leading sustainability.
Adani Total Gas and Flipkart have joined forces to reduce carbon emissions in Flipkart's supply chain. This strategic collaboration focuses on transitioning to cleaner energy solutions and enhancing sustainability practices. The initiative underscores the commitment of both companies to environmental stewardship and carbon footprint reduction in the logistics sector.
ING has announced a strategic shift to phase out upstream oil and gas operations by 2040, significantly increasing its investment in renewable energy. This move is aligned with global trends toward sustainable energy and reflects the growing environmental responsibilities of financial institutions. ING plans to triple its investments in renewables, focusing on technologies like solar and wind to enhance its green energy portfolio.
India’s decarbonization efforts require substantial financing to meet ambitious targets. Innovative financial instruments and strategic investments are essential to drive this transition. By mobilizing capital and leveraging financial expertise, India can achieve its sustainability goals while fostering economic growth. Collaborative efforts between public and private sectors are crucial for success.
Energy efficiency is a critical pathway to achieving net-zero emissions, often overlooked by many. Unusual sectors and practices can significantly contribute to energy savings, highlighting the diverse opportunities available. Emphasizing these unconventional methods ensures a comprehensive approach to sustainability. Strategic implementation of energy efficiency measures can drive substantial progress towards net-zero goals.
Leading CEOs in the chemical industry have launched a Global Impact Coalition to drive the sector towards net-zero emissions. This initiative aims to implement innovative strategies and technologies to reduce the industry's carbon footprint. The coalition will foster collaboration across the industry to accelerate the transition to sustainable practices.
Majid Jafar, CEO of Crescent Petroleum, emphasized at the Fortune Global Forum that the world needs to significantly increase investment in renewable energy, requiring 100 times more capacity to meet growing demand. Highlighting the scale of global energy needs, Jafar suggested that simply transitioning to cleaner fossil fuels can also contribute significantly to emissions reduction.
Increasing focus on hydro power is crucial for India to meet its growing energy demands sustainably. Hydro power offers a reliable and renewable energy source, helping reduce dependence on fossil fuels. Enhancing hydro power infrastructure can drive economic growth, improve energy security, and contribute to environmental conservation.
CEO Beth Ford, Land O’Lakes pioneers sustainability in America’s Heartland, investing in rural broadband, carbon sequestration, and regenerative agriculture. Their focus on science and technology bolsters resilience for farmers and the food supply amid political challenges to ESG initiatives.
Fatih Birol, Executive Director of the International Energy Agency, emphasizes the necessity for governments to triple global renewable capacity and double energy efficiency by 2030. This move is crucial to stabilize energy prices, improve security, and achieve climate goals. Additionally, targeted action on methane emissions and ending new coal plant approvals are critical policies to enact immediately.
Amazon has surpassed the 1.1 gigawatt mark in renewable energy purchases in India, reinforcing its commitment to sustainability. This achievement is part of Amazon’s broader global strategy to power its operations with 100% renewable energy by 2025. The company’s investment includes 14 solar and wind projects across different states, contributing significantly to India’s green energy landscape.
Roeland Baan, CEO of Topsoe, asserts confidence in market demand and questions the reliability of Chinese electrolyser technology, arguing that oversupply fears are exaggerated. He emphasizes Topsoe's competitive edge in solid-oxide electrolyser technology and its strategic plans to ramp up production in response to robust demand.
ENGIE India plans to invest Rs 3500 crore to develop 700 MW of renewable energy projects, bolstering India's green energy capacity. This strategic move aligns with national sustainability goals and aims to leverage both solar and wind energy resources.
With renewable energy and electrolyser capacity lagging, bio-based sustainable aviation fuels (SAFs) are emerging as the most feasible route to decarbonizing aviation. Topsoe's CEO, Roeland Baan, highlights the urgency of adopting SAFs made from bio-oils, fats, and biowaste to meet emission targets. While green hydrogen and batteries struggle to scale, bio-based SAFs offer an immediate, effective solution.
The chemical industry can significantly reduce greenhouse gas emissions by shifting to sustainable feedstocks such as biomass and CO? conversion technologies. This transition requires investment in advanced technologies, long-term supply agreements, and improved farming practices. While biomass provides a short-term solution, CO?-to-chemicals offers long-term scalability. Companies must navigate economic and regulatory challenges to achieve net-zero emissions by 2050.
The International Energy Agency (IEA) reports that India's electricity demand for air conditioning will soon exceed the total power consumption of Africa. This surge underscores the urgent need for energy-efficient cooling solutions and enhanced power infrastructure to meet the growing demand sustainably. Addressing this challenge is critical for India's energy security and environmental goals.
Despite abundant resources and expertise, Canada lags in producing sustainable aviation fuel (SAF). Industry leaders call for greater international cooperation and investment in SAF production and related technologies to meet global decarbonization targets.
Lightsource BP has signed an innovative collective virtual power purchase agreement (CVPPA) with The Fashion Pact, involving 12 major fashion brands. This agreement will help these brands transition to renewable energy, leveraging solar power from Lightsource BP’s portfolio in Spain. The initiative, spearheaded by The Fashion Pact’s leaders, aims for 100% renewable energy by 2030.
Mohit Bhargava, CEO of NTPC REL, reveals that the company has secured agreements with electrolyser suppliers for its ambitious 1000 MW green hydrogen plants. This strategic move positions NTPC REL at the forefront of the green hydrogen revolution in India. Bhargava emphasizes the importance of green hydrogen in achieving decarbonization goals and reducing reliance on fossil fuels. The planned projects are expected to significantly contribute to India's renewable energy capacity and sustainability targets. With government support and technological advancements, NTPC REL is poised to lead the green hydrogen initiative, paving the way for a cleaner and more sustainable energy future.
Diageo is launching regenerative farming programs in Scotland and Mexico to improve biodiversity, water stewardship, and soil health. These initiatives aim to reduce the carbon footprint of barley, wheat, and agave farming, as part of Diageo’s ESG plan, Society 2030: Spirit of Progress. Partnering with Agricarbon and James Hutton Limited, Diageo will focus on soil carbon tracking and sustainable agricultural practices.
A coalition of leaders in the agriculture and food industries has formed the Canadian Alliance for Net-Zero Agri-Food. This alliance, including major companies like RBC, Loblaw, and Maple Leaf Foods, aims to achieve net-zero emissions in Canada’s agri-food sector by 2050 through sustainable practices and innovation.
Regenerative agriculture, touted as a silver bullet for climate adaptation, lacks clear implementation guidelines and measurable targets. Despite its potential, the varied success of practices and conditional benefits highlight the need for transparent, tailored approaches. This complex strategy, while promising, requires careful integration with other decarbonization initiatives to achieve sustainable results.
India must enable the supply chain of biomaterials, ensure equitable access to green chemistry technology, and develop supportive policies and capital incentives to reduce the carbon footprint of its chemical industry. Innovations in bio-based chemicals and biodegradable polymers are key trends driving this transformation.
Mars Incorporated commits to halving its carbon emissions by 2030 and invests $1 billion to achieve Net Zero by 2050. The company's Roadmap to Net Zero focuses on renewable energy, climate-smart agriculture, and sustainable packaging. Mars emphasizes the necessity of combining profit and purpose for a sustainable future.
Mars Incorporated commits to halving its carbon emissions by 2030 and invests $1 billion to achieve Net Zero by 2050. The company's Roadmap to Net Zero focuses on renewable energy, climate-smart agriculture, and sustainable packaging. Mars emphasizes the necessity of combining profit and purpose for a sustainable future.
Utkarsh Gupta discusses the transformative potential of digital technologies in the energy sector, emphasizing how digitalization enhances efficiency, reduces operational costs, and improves energy management. Advanced analytics and IoT integration are pivotal in optimizing energy production and consumption. Gupta highlights the role of AI and machine learning in predictive maintenance and grid management. The transition to digital platforms enables better decision-making and more resilient energy systems. Collaboration between technology providers and energy companies is key to driving this digital transformation, ensuring that the sector can meet future demands sustainably and efficiently.
ExxonMobil has agreed with CF Industries to produce low-carbon ammonia, leveraging advanced carbon capture and storage technology. This collaboration aims to reduce the carbon footprint of ammonia production, a key component in fertilizers. The partnership signifies a major step towards sustainable chemical manufacturing and reduced industrial emissions.
Bridge elements play a crucial role in India's transition to a low-carbon economy. These intermediate solutions help balance immediate energy needs while paving the way for long-term sustainable practices. By integrating bridge elements, India can maintain energy security and progressively reduce carbon emissions, ensuring a smoother decarbonization journey.
Sumant Sinha, CEO of ReNew, emphasizes India's potential as a leading clean energy market, projecting the need for $500 billion in the electricity sector over the next 7-8 years. With ReNew aiming to expand its market share, Sinha underscores the importance of green hydrogen, carbon offsets, and digital innovations in driving India's energy transition.
Reliance Industries Ltd, under Mukesh Ambani's leadership, plans to tackle severe air pollution caused by stubble burning in India by establishing 100 compressed bio-gas plants. These facilities will not only reduce carbon emissions and dependence on imported LNG but also produce valuable organic manure, aligning with the company's net zero target by 2035.
Mukesh Ambani announced Reliance Industries' plan to transition its Oil-to-Chemicals (O2C) business towards sustainable and green chemicals and materials. This strategic shift aims to align with global sustainability trends and reduce environmental impact. The company will focus on innovation and sustainability to lead in green technology. This move is expected to drive significant industry transformation.
The Indian government is leveraging ethanol to achieve its 5% biodiesel blending goal by 2030 due to challenges in sourcing adequate biodiesel feedstock. Despite adjustments to national policies offering more incentives, supply constraints persist. The focus has shifted to researching ethanol blending in diesel, with significant trials by major oil companies. This strategic pivot highlights ethanol's potential to complement traditional biodiesel sources.
At CERAWeek in Houston, energy executives highlighted the pivotal role of the Inflation Reduction Act in advancing low-carbon technologies like hydrogen and carbon capture. However, they emphasized the need for permitting reform to fully leverage these technologies' potential. Amidst a complex financial and regulatory landscape, the industry's commitment to transitioning towards renewable energy remains cautious but optimistic.
LNG is emerging as a key player in the decarbonization of long-haul transportation, offering a cleaner alternative to traditional fuels. With its lower carbon emissions and increasing availability, LNG provides a viable solution for reducing the environmental impact of heavy-duty vehicles. This shift aligns with global efforts to achieve sustainable and eco-friendly transport systems.
Global renewable power producer BrightNight, electric vehicle maker Rivian, and The Nature Conservancy unite to convert the Starfire coal mine in Kentucky into an 800-MW solar energy center. This $1 billion project will power over 500,000 households annually, symbolizing a shift from fossil fuels to sustainable energy while benefiting local communities and conservation efforts.
BASF is constructing an offshore wind farm in China to power its new $11 billion mega plant, aligning with its commitment to renewable energy and sustainability. This initiative will significantly reduce carbon emissions and enhance energy efficiency at the facility. The project reflects BASF's strategic move towards integrating green energy solutions into its operations.
Nike is making significant progress towards its net-zero goals by introducing sustainable foam in its products. This innovative material reduces carbon emissions and enhances product sustainability. Nike's commitment to sustainable practices underscores its leadership in driving environmental responsibility in the apparel industry.
Lufthansa CEO Carsten Spohr is driving the airline towards a sustainable future with substantial investments in low-emission aircraft and a leading role in adopting synthetic fuels. Despite challenges in scaling sustainable aviation fuel (SAF), Lufthansa aims for a 50% emissions reduction by 2030, highlighting the need for global cooperation and innovative energy solutions.
Chevron CEO Mike Wirth, in an exclusive interview with Axios, highlighted the company's strategic focus on areas like lithium extraction and carbon capture, differentiating from European counterparts who are investing heavily in renewables like wind and solar. This reflects Chevron's broader approach to the energy transition, which emphasizes leveraging existing expertise and infrastructure.
Boeing CEO declares sustainable aviation fuels (SAF) will remain more costly than traditional jet fuel, complicating the aviation industry's transition to lower emissions. Despite scaling efforts, SAF won't match conventional fuel prices, affecting adoption rates
Chemical recycling is emerging as a solution to the limitations of mechanical recycling, allowing for the processing of a wider range of plastics. This technology can break down plastics into their chemical components, enabling the production of new, high-quality materials. It offers a promising avenue for addressing plastic waste and enhancing sustainability in the recycling industry.
In a CNBC panel, energy leaders discussed the necessity of accelerating renewable-powered electrification amidst climate challenges. Acknowledging the complexity, they emphasized the integration of multiple clean energy solutions, including hydrogen and CCUS, to scale renewable adoption effectively. The discussion highlighted the urgent need for global cooperation and innovative strategies to meet IPCC's critical climate goals.
In a CNBC panel, energy leaders discussed the necessity of accelerating renewable-powered electrification amidst climate challenges. Acknowledging the complexity, they emphasized the integration of multiple clean energy solutions, including hydrogen and CCUS, to scale renewable adoption effectively. The discussion highlighted the urgent need for global cooperation and innovative strategies to meet IPCC's critical climate goals.
Neste's CEO discusses how sustainable aviation fuel not only reduces carbon emissions but also enhances supply chain efficiency in the aviation industry, aligning with global decarbonization goals.
A new coalition in the trucking industry aims to establish practical and achievable decarbonization goals. By focusing on realistic targets and strategies, the coalition seeks to drive significant emissions reductions within the sector. This collaborative effort underscores the importance of industry-wide cooperation in achieving sustainability. Effective implementation of these goals will be critical for the future of low-carbon trucking.
Gas utilities are actively expanding their investments in renewable natural gas (RNG) production, targeting waste from farms, landfills, and other sources to convert into pipeline-quality gas. Amid increased competition and rising project costs, companies like Chesapeake Utilities and DTE Energy are leveraging incentives such as the Inflation Reduction Act to bolster their RNG projects, aiming to enhance sustainability and maintain profitability.
Aditya Mittal, CEO of ArcelorMittal, forecasts a 10-20% price rise for eco-friendly steel due to decarbonization costs. The industry faces sustainability challenges, but continues investing in renewable energy sources to meet green production goals.
Praj Industries is spearheading initiatives in energy transition and climate action to foster global growth. By leveraging advanced technologies and sustainable practices, the company aims to drive significant reductions in carbon emissions. Their efforts highlight the potential for industries to lead in sustainability while achieving economic expansion.
Acme Group has allied with Norway's Norfund to invest in new renewable power projects across India. This partnership aims to drive sustainable development and create employment opportunities. Norfund's recent investments include a significant equity stake in Punjab's SAEL and a solar project in Rajasthan. Both partners are committed to contributing to India's energy transition.
John Deere made history at CES 2023, with CEO John May emphasizing the transformative role of technology in agriculture. The company's Leap Ambitions highlight their commitment to boosting productivity and sustainability through cutting-edge innovations like autonomous tractors and precision farming tools. These advancements help farmers meet growing food demands while preserving the environment.
Granules India is investing ?2000 crore to establish a green pharma manufacturing unit in Andhra Pradesh. This facility will focus on sustainable practices, aiming to reduce environmental impact while enhancing production efficiency. The initiative represents a significant step towards greener pharmaceutical manufacturing in India.
Exxon Mobil's CEO, Darren Woods, touts carbon removal technologies as crucial for addressing climate change, promising benefits for the oil industry. His comments have sparked skepticism among environmentalists, who argue that such technologies might delay the transition from fossil fuels.
Erik Fyrwald, CEO of Syngenta, argues that stopping organic farming is crucial to prevent future food crises, claiming organic yields are significantly lower and contribute to higher CO2 emissions. Instead, he advocates for regenerative farming, combining crop rotation with targeted pesticide and GMO use.
Emily Skor, CEO of Growth Energy, champions ethanol as a cost-effective, low-carbon fuel solution amid rising gas prices and climate goals. She emphasizes the importance of restoring the Renewable Fuel Standard, increasing E-15 blends, and leveraging biofuels to achieve net zero emissions by 2050. Skor also highlights the need to educate consumers on ethanol's benefits and navigate the complex relationship with Big Oil.
Efficient motors and drives play a crucial role in reducing industrial energy consumption. These technologies not only lower operational costs but also contribute to sustainability goals by minimizing carbon footprints. With advancements in motor and drive efficiency, industries can achieve significant energy savings and improve overall productivity. Investing in these solutions is essential for future-ready industrial operations.
NHPC, a key player in India's renewable energy sector, has issued an Expression of Interest (EoI) to attract global partners for the development of the country's inaugural offshore wind energy plant. This move aligns with NHPC's ambitious plan to contribute over 27 GW of renewable energy projects by 2030.
SECI calls for bids on 4 GW offshore wind projects in Tamil Nadu by May 6, 2024. Lease rights include surveys and development, with MNRE offering benefits like waived transmission charges and renewable energy credits.
GPS Renewables raised $50 million in debt financing, enabling expansion of biofuel facilities across India. With an order book of $240 million and MoUs worth $540 million, the company reported a turnover of $60 million in FY 2023-24, marking a 225% growth.
The Union Shipping Ministry plans to develop a 500 MW offshore wind terminal at VOC Port, Thoothukudi, costing Rs 450 crore in phase-1. Initially estimated at Rs 965 crore, a cost analysis revealed the reduced figure. Tender to be floated after elections, aiming to tap into Tamil Nadu's offshore wind potential.
GoodEnough Energy, a leading energy company, has announced plans to inaugurate India's inaugural battery storage giga-factory in Jammu and Kashmir by October 2024. This milestone initiative aims to significantly reduce carbon emissions by over 5 million tons annually, aligning with India's ambitious goal of achieving net zero emissions by 2070.
RenewX 2024, organized by Informa Markets in India, a premier event for renewable energy and electric vehicles in South India, is taking place on April 26th and 27th, 2024, at the HITEX Exhibition Centre in Hyderabad.
The Indian government has extended the FAME-II scheme (Faster Adoption and Manufacturing of Electric Vehicles) for electric mobility by four months until July 31, 2024, to avoid disruption in the EV ecosystem. Originally set to expire on March 31, 2024, the extension includes a Rs. 500 crore allocation for demand incentives for electric two-wheelers and three-wheelers. The Expenditure Finance Panel has recommended Rs. 10,000 crore for the upcoming FAME-III scheme.
The U.S. International Development Finance Corporation (DFC) has invested $500 million in a solar panel manufacturing facility in Tamil Nadu, India, to diversify critical supply chains, create jobs, and support India's clean energy goals. This investment reflects the strong partnership between the U.S. and India in driving economic growth through green industries and innovation.
Apple has unveiled its ambitious renewable energy and sustainability plans by 2030 for its India operations, marking a significant step towards environmental sustainability. The tech giant pledges to offset the emissions from consumer device charging by matching every watt of electricity with clean energy. Besides energy, its environmental commitments extend to water and waste management as well.
US may impose anti-dumping duties on Indian solar module exports alongside Southeast Asian countries. Indian exports rose 227% to $1.8 billion in 2023, with US as top buyer accounting for 97.3% of exports. Potential tariffs could impact cost arbitrage and market access, with 78% of US photovoltaic module imports coming from Southeast Asia.
Daimler India Commercial Vehicles launches all-electric eCanter in India, marking its foray into the battery electric commercial vehicle market.
The move aligns with Daimler Truck's commitment to decarbonize transportation, aiming for CO2-neutral trucks globally by 2050.
The eCanter's launch is the first step toward DICV's long-term strategy for sustainable transportation solutions in India.
The Mahindra Group and Johnson Controls have announced a Net Zero buildings initiative to decarbonize Indian buildings, targeting the sector responsible for 20% of emissions and over 30% of energy consumption in India.
With three-quarters of India's anticipated 2040 buildings yet to be built, the initiative aims to address this growing infrastructure sustainably, and includes toolkits and training to help building owners implement energy-saving measures, with electricity savings of up to 40-60%.
The Solar Energy Corporation of India (SECI) is planning to issue a tender for a concentrated solar-thermal power (CSP) storage project. This project, with an initial capacity of 500 MW, aims to provide round-the-clock green energy and is likely to be located in Gujarat, Rajasthan, or Andhra Pradesh due to their higher solar radiation.
CSP technology concentrates solar power through mirrors, heating up a fluid or salt mixture to produce steam for turbines.
The construction and building sector in India contributes 32% of total greenhouse gas emissions. WRI India, AEEE, EcoCollab, and Mahindra Lifespace Developers have launched the Decarbonisation Business Charter (DBC) to promote low-carbon practices. The charter involves key stakeholders like architects, developers, and material manufacturers, and aims to reduce raw material demand and embrace circularity in the construction industry to mitigate environmental impact.
Indosol Solar, a subsidiary of Shirdi Sai Electricals Ltd, is investing. 25,000 crore to establish a 10GW solar PV module manufacturing facility in Ramayapatnam, Andhra Pradesh. The first phase, with an investment of? 15,000 crore, will produce 4GW, with the remaining 6GW in subsequent phases. Supported by the Production Linked Incentive (PLI) scheme, the project aims to reduce dependence on imported solar technology and generate significant employment. The facility features advanced automation and imported technology, emphasizing Indosol's commitment to innovation and sustainability in India's solar energy sector.
Renaissance Solar and Electronic Materials (RSOLEC) plans to invest $300 million to build a solar manufacturing facility in India. The company will focus on crystal growth and wafering for the next five years, with an initial production capacity of 5 GW and plans to expand to 20 GW in the long term. This project is expected to create over 1,000 jobs in the solar sector within the next three years.
India's solar waste is expected to reach 600 kilotonnes by 2030, with 67% coming from five states: Rajasthan, Gujarat, Karnataka, Andhra Pradesh, and Tamil Nadu. The waste will include critical minerals like silicon, silver, cadmium, and tellurium. There is an opportunity for India to develop a circular solar industry and establish robust recycling mechanisms to manage this growing waste stream.
Tata Power, India's leading power company, is aiming to be a major supplier for the recently announced PM Surya Ghar Yojana, a national scheme to install solar panels on 1 crore homes. The company also plans to start work on its first pumped storage projects next fiscal year.
The CEO of National Solar Energy Federation of India, Subrahmanyam Pulipaka, proposed a National Electricity Council to streamline India's renewable energy policies. This council, modeled after the GST Council, aims to bring uniformity and ease of doing business in the sector.
India is expected to add a record 16-18 GW of renewable energy capacity in FY24, exceeding the annual target of 20 GW. This growth is driven by factors like low module prices and a robust policy pipeline that includes 68 GW of solar projects in the next 20 months and an additional 82 GW planned for the following three years.
BLive is providing Zomato's delivery personnel with premium electric scooters (TVS iQube) through a rent-to-own model, allowing them to eventually own the vehicle after a rental period (3+ years). This partnership aims to achieve Zomato's "EV100" initiative of 100% electric vehicle deliveries by 2033 and encourage wider adoption of electric mobility in India's booming online commerce sector.
VinFast India's CEO, Pham Sanh Chau, lauds India's new EV policy that reduces import duty on electric cars from 70-100% to 15% for five years, given a $500 million investment in local manufacturing. Chau highlights that this policy enables VinFast to introduce premium-quality electric SUVs at competitive prices and supports their $2 billion investment plan in Tamil Nadu. The policy is expected to boost EV manufacturing, create jobs, and attract global car makers like Tesla to India.
IndiGrid, a leading Indian infrastructure investment trust, has acquired a 300 MW solar power plant, increasing its total solar generation capacity to 1.1 GWp across 19 projects in 8 states. This acquisition also brings their Assets Under Management to Rs 282 billion. The solar plant is expected to contribute Rs. 800 million annually to IndiGrid's net cash flow.
Stellantis, the maker of Jeep and Citroen, plans to make India a hub for exporting electric vehicles (EVs), initially targeting Southeast Asian markets. The company recently commenced exports of its Made-in-India Citroen E-C3 electric car with an initial shipment of 500 units to Indonesia.
BluPine Energy, a renewable energy services company in India, acquired 369 MW solar power assets from Acme Group. This acquisition increases BluPine's total renewable energy capacity to 2.4 GW. The acquired solar projects are spread across 14 special purpose vehicles in Uttarakhand, Punjab, and Karnataka. With this acquisition, BluPine Energy is now one of the top tier players in the Indian renewable energy market.
India's biggest oil producer ONGC and power company NTPC signed a joint venture agreement to develop offshore wind energy projects. The pact also explores opportunities in storage, e-mobility, and green hydrogen. ONGC aims to add 10 GW of renewable power to its portfolio by 2040.
Mumbai-based SolarSquare, a leader in rooftop solar solutions, has acquired PV Diagnostics, a consultancy firm with expertise in utility-scale solar power. This acquisition aims to significantly improve the quality and efficiency of SolarSquare's residential solar installations in India.
PV Diagnostics boasts an industry experience of 8 GW, having collaborated with major developers like Tata Power and Adani. Their expertise in sourcing high-quality modules, diagnostics, and technology will be integrated into SolarSquare's offerings. The financial details of the acquisition were not disclosed.
Honeywell India is shifting focus towards energy transition by acquiring businesses in battery storage and green hydrogen sectors. They aim to develop battery management systems and participate in the green hydrogen ecosystem. While they see potential in green hydrogen, they acknowledge the current low demand.
Honda plans to invest in electric vehicles (EVs) for the Indian market. The company will launch a new electric version of its recently launched Elevate SUV within the next 3 years and introduce 4 more electric SUVs by 2030. Honda sees India as a major market and is considering alliances with other companies in the automobile industry.
The Volkswagen Group is planning to introduce an affordable electric vehicle (EV) in India by the second half of this decade. The company is evaluating different platforms to develop a compact electric SUV that will be suitable for the Indian market. Volkswagen is looking to achieve high sales volumes, and is also considering exporting the EV to other countries in Southeast Asia, the Middle East, and North Africa.
JSW Group and MG Motor announced a joint venture to manufacture electric vehicles in India. The JV aims to sell 10 lakh electric vehicles by 2030 and will invest Rs. 5,000 crore to boost production capacity. The collaboration is expected to increase MG Motor's annual production capacity from 100,000 to 300,000 units.
Indian Bank has partnered with Tata Power Solar Systems to provide financing solutions for residential solar power installations under the Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme. This scheme aims to increase the use of solar energy in homes. Homeowners can get loans up to Rs. 2 lakh at 7% interest for up to 3 KW installations. For larger installations, loans up to Rs. 6 lakhs with interest rates ranging from 8.4% to 10.8% are available.
Nextracker and SWRE are partnering on a giant solar project in Gujarat, India. This project will supply solar trackers for a 1.875 GW solar park. This collaboration brings their total global solar power generation projects to over 5GW across seven countries. It highlights their commitment to clean energy and India's renewable energy goals.
Mahindra Susten, a leading renewable energy company in India, has signed a strategic partnership with Waaree Energies, India's largest solar PV module manufacturer. Under the agreement, Waaree Energies will supply 280 MW of their high-efficiency AHNAY series solar modules to Mahindra Susten.
Gogoro, a Taiwanese electric vehicle company, is planning to invest billions of dollars in setting up a battery swapping infrastructure across India by 2032. The company has already begun operations in Delhi and Goa and plans to expand to Mumbai and Pune by mid-2024. They are also looking to build 120 battery swapping stations across India by mid-2024.
The US India Business Council (USIBC) has committed to collaborating on cutting-edge projects to drive energy transition in India. With India's energy demand projected to double by 2045, there's a significant emphasis on enhancing the role of natural gas in the energy mix, from 6% to 15%. The council aims to foster innovation and technological advancements to contribute to India's sustainable energy future.
Amplus Solar plans to launch distributed green hydrogen projects by next year, expanding its portfolio beyond its current 1.9 GW of operational and under-construction distributed solar assets in India. CEO Sharad Pungalia aims to replicate the success of their rooftop solar model, providing customers with green electricity and hydrogen on their premises. The company will source electrolysers from third parties rather than manufacturing them, focusing on project development and supply.
Indraprastha Gas Ltd (IGL) plans to invest Rs 1,200 crore in 19 CBG plants across Delhi, Haryana, Rajasthan, and Uttar Pradesh, aiming to produce half a million units of biogas, equivalent to 5% of its daily needs. The initiative will help in waste management, provide clean fuel to consumers, and contribute to environmental sustainability.
Sweden is helping India transition its hard-to-abate industries (like steel and cement) towards eco-friendly practices. Through initiatives like LeadIT 2.0 and the India-Sweden Green Transition Partnership, the two countries are collaborating on technology sharing, pilot projects, and capacity building. Green hydrogen is another key area of focus, with an aim to support India's ambitious green hydrogen mission.
Denmark and India have joined forces to launch the Green Fuels Alliance India (GFAI) to collaborate on developing clean energy solutions, especially green hydrogen. This alliance will combine Danish expertise in clean fuels with India's market for renewable energy, aiming to make green fuels affordable and accelerate the fight against climate change.
The AP State Energy Conservation Mission (APSECM) conducted a workshop on the Perform, Achieve and Trade (PAT) scheme to promote energy efficiency in industries. The scheme has resulted in significant energy savings, with Andhra Pradesh industries contributing to 1.16 MTOE by PAT Cycle-3.
India's IREDA and PNB signed a Memorandum of Understanding (MoU) on February 19, 2024 to collaborate on financing renewable energy projects. This partnership aims to streamline access to finance for developers in the sector and support India's goal of achieving 500 GW of non-fossil fuel based electricity generation by 2030.
BatX Energies, a leader in battery recycling, secures $5 million to develop superior battery materials, create a full-lifecycle lithium-ion battery recycling solution, and establish a network of micro-recycling facilities across India. Their innovative technology recovers nearly all battery materials and they are working on a process to turn recycled materials directly into new batteries.
Amara Raja Infra Private Limited (ARIPL) has secured a significant solar project from Greenko, marking its largest capacity project to date at 700MWp. This project strengthens ARIPL's position in the renewable energy sector and contributes to their growing order book. The project involves engineering, procurement and construction of the entire Balance of System (BoS) for Greenko's Integrated Renewable Energy Project.
Runaya, a sustainable manufacturing leader, unveiled its new calcium aluminate plant in Jharsuguda. This facility signifies a step towards environmental stewardship with a focus on green aluminium recovery and a zero waste, zero-discharge strategy. The plant boasts a capacity of 12,000 metric tons per annum and is poised to supply premium products to the steel industry.
ReNew Energy and JERA will jointly evaluate a green ammonia production project in Paradip, India. The project will use 500 MW of renewable energy to produce 100,000 tons of green ammonia annually by 2030, aligning with India's green hydrogen mission and Japan's clean energy goals.
ABB India has introduced two new energy-efficient motor ranges, the small frame cast iron IE4 super premium efficiency motors and the IE3 Aluminum motors. These motors are designed to improve energy efficiency, reduce costs, and lower emissions. The IE4 motors are available in outputs ranging from 0.18-7.5kW, while the Aluminum motors range from 0.18-2.2kW. Both types of motors are manufactured in India and are suitable for a variety of industries.
Kundan Green Energy's newly approved 42 MW hydropower project in Okhali, Uttarakhand, forms part of their agreement with the state government, aiming to develop 80 MW of greenfield capacity with a ?1,000 Crore investment. Scheduled for completion by 2028, this project will boost the company's hydropower capacity to 270 MW, contributing to India's renewable energy target of 500 GW by 2030.
Navrattan Green Cement Industries Pvt. Ltd. has developed Navrattan Green Crete, an eco-friendly concrete alternative.
This innovative product is made from natural sources and boasts zero pollution during production. It utilizes a proprietary binder derived from algae and a special extraction process.
Navrattan Green Crete aims to revolutionize the cement industry by offering a sustainable and high-performing solution.
Indian Oil Corp announced a Rs 5,215 crore investment to develop 1 GW of renewable energy capacity, including standalone solar, wind, or hybrid projects. The company will invest Rs 1,304 crore in equity and establish a renewable energy subsidiary. This move aligns with Indian Oil's broader strategy to diversify into renewable energy and electric vehicle infrastructure.
Charge Zone, an India-based EV charging network firm, has secured $19 million from British International Investment (BII) to install over 1,500 super-charging stations across India in the next 18 months. This investment aims to bolster Charge Zone's capacity to expand its high-speed charging network, contributing to India's goal of significantly increasing public charging stations by 2030.
Ocean Sun, a Norwegian pioneer in floating solar technology, has inked a deal with India's NHPC to deploy its innovative floating solar platforms in Indian reservoirs. With India's vast potential of 300GW for floating solar largely untapped, this partnership aims to boost green energy generation, supporting India's goal of reaching 500GW of renewables by 2030. This collaboration reflects a significant step towards sustainable development and expanding green power capacity in the country.
India's MNRE reinstates the ALMM mandate, favoring domestic solar panel manufacturers and creating a non-tariff barrier against Chinese products. While this expands opportunities for local players, the shortage of domestically manufactured cells may escalate costs for projects like PM Surya Ghar: Muft Bijli Yojana, emphasizing the need for aligned production capacities.
Vikram Solar secures a significant 250 MW order from Gujarat Industries Power Company Ltd. (GIPCL), affirming their commitment to India's solar energy goals. The high-efficiency modules, approved under ALMM, will bolster solar infrastructure in Gujarat's RE Park at Village Khavda, Great Rann of Kutch.
Ohmium, specializing in PEM electrolyzers, collaborates with Tata Projects, a sustainable EPC company, to drive green hydrogen projects in India. With Ohmium supplying technology and Tata Projects managing EPC processes, the partnership aims for seamless implementation and cost-effective green hydrogen solutions. CEO Arne Ballantine and MD Vinayak Pai express enthusiasm, signaling a concerted effort towards India's sustainable energy transition.
India's ambitious commitment to reduce carbon emissions by 2070 places it at the forefront of global climate leadership, despite not being among the top emitters. The coming decade is pivotal, with India needing to cut emissions significantly by 2030 as a step towards its net zero goal. This requires transformative actions across energy generation, transportation, and industry sectors, coupled with substantial financial investment and technological advancements. As India plans major shifts towards renewable energy and green technologies, this decade will critically determine its ability to decouple economic growth from carbon emissions, positioning it as a potential leader in sustainable development on the global stage.
India is projected to become the world's third-largest economy, reaching $5 trillion by 2027 with a current GDP growth rate of 7.3%. Emphasizing zero-emission solutions in energy and transportation, India commits to a 45% reduction in carbon intensity by 2030 and achieving net zero by 2070. With increased EV incentives and plans to boost electric vehicle (EV) penetration to 30% by 2030, India is enhancing its global stance on climate change and technological innovation.
Public sector oil and gas companies in India are increasingly adopting Carbon Capture, Utilisation, and Storage (CCUS) technologies as part of their emission-reduction strategies, targeting net zero by 2070. Recent collaborations and projects aim to enhance CO2 capture and utilization, contributing to India's low-carbon transition and aligning with global efforts to mitigate climate impact.
India plans to reintroduce industrial mandates for replacing grey hydrogen with green alternatives, targeting a shift in consumption within the fertilizer and refining sectors. This decision, influenced by changing natural gas prices and the economic viability of green hydrogen, comes alongside strategies to support a transition that includes significant export goals, aiming for 70% of its projected 2030 green hydrogen production capacity to be exported, primarily to the EU.
A recent PwC India survey reveals that 51% of India's top 100 firms are voluntarily reporting their carbon emissions, with 31% disclosing net-zero targets. This move aligns with India's 2070 net-zero goal, emphasizing the growing importance of ESG considerations in corporate strategies and sustainability reporting.
A World Resources Institute (WRI) study from 2020-21 involving 21 major Indian companies shows a 28% decrease in the costs associated with emission reductions. These companies represent about 10% of India's industrial emissions. The study underscores the potential of carbon markets to facilitate cost-effective decarbonization and enhance global competitiveness, aiming for a 5.6% reduction in emissions intensity by 2030.
As India's urban population is set to increase significantly, the RBI highlights the need for the cement industry, a major carbon emitter, to adopt technologies like reverse calcination and carbon capture. This shift is crucial as the industry aims to reduce CO2 emissions by about 36% from 1996 to 2017 and further cut emissions by 2050. The RBI's report underscores the importance of aligning India's economic expansion with its climate commitments to support sustainable growth.
The Indian e-commerce sector is projected to grow by 1000%, leading to a significant increase in CO2 emissions, estimated at 8 million tons by 2030. This rise equates to the emissions from 16.5 lakh petrol cars annually. Globally, the e-commerce market could see parcel deliveries rise from 315 billion in 2022 to over 800 billion by 2030, pushing total emissions to 16 crore tons, comparable to the output of 400 gas-fired power plants. The report underscores the urgent need for decarbonization to mitigate severe climate and health impacts.
India's carbon emissions from surface passenger transport are projected to hit 147 million tonnes in 2023, up 1.4% from the previous year, driven by rapid urbanization and economic growth. Amidst increasing concerns, India advances its decarbonization agenda with enhancements in electric vehicle (EV) infrastructure and alternative fuel adoption, aiming to transform its transportation sector into a sustainable model by 2070.
Tata Power is adapting its business model to accommodate both regulated and non-regulated sectors, aiming for a balanced portfolio. Managing Director Praveer Sinha highlights the company's achievements, particularly the transformation of Odisha's distribution networks and plans for substantial growth in renewable energy and transmission projects. Amidst increasing power demand, Tata Power is positioned to leverage opportunities in diverse sectors including EV charging and utility-scale solar projects.
On May 15, 2024, Tata Power Delhi Distribution Limited (Tata Power-DDL) and the India Smart Grid Forum (ISGF) signed a MoU to demonstrate Vehicle-to-Grid (V2G) technology in North Delhi. This initiative, observed by major regulatory bodies, aims to integrate electric vehicles with the power grid to enhance grid stability and explore the commercial viability of V2G systems. The project promises innovative solutions for grid management and sustainable energy practices.
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has partnered with Maharashtra State Power Generation Company Limited (MAHAGENCO) to develop large-scale renewable energy parks in Maharashtra. Signed on 28th February 2024, this agreement aims to boost green energy projects, including Green Hydrogen and Energy Storage Technologies, supporting India’s decarbonisation goals. The JV aims to expand NTPC's renewable capacity towards a 60 GW target by 2032.
Tata Power, under the leadership of CEO Praveer Sinha, has significantly reduced Aggregate Technical & Commercial (AT&C) losses in Delhi from 53% to 6%, utilizing advanced AI technologies. This achievement is part of India's broader goal to amplify its clean energy capacity to 300 gigawatts by 2030, moving towards sustainable and 24/7 clean energy solutions including solar, wind, and storage.
Power Finance Corporation Ltd (PFC) has sanctioned a Rs 633 crore loan to Gensol Engineering Ltd for acquiring 5000 passenger Electric Vehicles and 1000 cargo EVs. This move is aimed at boosting the EV fleet of Blusmart Mobility Pvt. Ltd, enhancing sustainable transport in Delhi-NCR, and contributing significantly to India's net-zero goals with estimated annual CO2 savings equivalent to the absorption capacity of over 5 million trees.
In a groundbreaking move, ACME Group from India and Japan's IHI Corporation have agreed to supply 0.4 MMTPA of green ammonia from Odisha to Japan, aiming to cut 54 million tons of CO2. This venture is set to start by 2027 and highlights a robust Indo-Japanese partnership in renewable energy, bolstering both nations' global green energy standings.
BluSmart, a leader in India's eMobility landscape, has expanded its fleet to 7,000 electric vehicles (EVs), making it the largest operator in Southeast Asia. The company operates in Delhi NCR and Bangalore, and has facilitated over 12.5 million all-electric trips, contributing significantly to CO2 emission reductions. BluSmart's robust network includes more than 4,400 EV chargers across 36 superhubs, underscoring its mission to decarbonize mobility at scale.
Daan Wensing, CEO of IDH, advocates for regenerative farming and cover crops as strategies to enhance soil health, increase farm yields, and reduce stubble burning. He emphasizes the necessity of public and private cooperation to deploy new technologies aimed at improving organic soil carbon and linking farming practices to carbon markets.
FlixBus has launched its operations in India, offering intercity bus services with initial fares of just INR 99. Collaborating with local operators, the service covers major cities and incorporates advanced safety and environmental measures. The launch represents a significant move towards sustainable and accessible travel in the region.
Essar Oil UK has chosen Elessent Clean Technologies as the final technology partner for its Stanlow-based carbon capture facility, advancing its $1.2 billion investment towards becoming the world's first low-carbon refinery. The initiative, part of Essar's broader decarbonization strategy, targets reducing refinery emissions by 95%, aiming to capture 1 million tons of CO2 annually by 2028. This move enhances UK's energy security and supports regional economic sustainability.
The Delhi International Airport Ltd (DIAL) CEO, Videh Kumar Jaipuriar, announced that airlines could save approximately ?150-180 crore annually by using the Eastern Cross Taxiways (ECT). This initiative will reduce taxiing time and aircraft fuel consumption, leading to a projected annual reduction of 55,000 tonnes of CO2. The ECT, designed for wide-body aircraft, shortens the distance post-landing significantly, enhancing operational efficiency.
Schneider Electric has launched a new cooling factory in Bengaluru with an investment of Rs 100 crore, emphasizing its commitment to the Indian market and Atmanirbhar Bharat vision. The facility will primarily cater to the data centre segment, with 85% of its products being exported. The company has also announced a broader investment of Rs 3,200 crore in India by 2026.
Himadri Speciality Chemical plans to invest INR48 billion (~$575.87 million) over five to six years to set up a Lithium Iron Phosphate (LFP) Cathode Active Material manufacturing facility in Odisha. The plant will have an annual production capacity of 200,000 MT, with the first phase set at 40,000 MT. Operations are expected to start within 27 to 36 months.
Larsen & Toubro (L&T) has announced the formation of the L&T Green Energy Council, a think tank comprising eminent thought leaders, to build a global green energy business. The council will focus on identifying technology trends, analyzing global policy developments, evaluating emerging business models, and advising on collaborations. This initiative is part of L&T's commitment to support India’s energy independence by 2047 and achieve Net Zero by 2070.
L&T Finance Holdings Ltd., led by Dinanath Dubhashi, integrates ESG into its core operations with ambitious sustainability goals. The company’s Lakshya 2026 plan focuses on climate leadership, water stewardship, and green supply chains, targeting carbon neutrality by 2035. With significant achievements in ESG ratings, L&T Finance demonstrates a strong commitment to environmental and social responsibility.
In FY23, Mahindra & Mahindra's Last Mile Mobility (LMM) division sold 36,816 electric vehicles, achieving a market share of 14.6%, up from 7.6% in FY22. The introduction of the Zor Grand EV significantly boosted their sales, with an order book of over 23,000 within a year. LMM's comprehensive network and innovative solutions have reinforced their leadership in the electric three-wheeler market.
Sulajja Firodia Motwani, CEO of Kinetic Green, emphasizes the necessity of FAME subsidies for the next three to five years to maintain EV momentum in India. She highlights that the removal of subsidies would increase EV prices by 25%, hindering market penetration and investment in EV technologies.
Electric scooter-maker Bounce Infinity has partnered with SUN Mobility to deploy 30,000 e-scooters across key markets in India, starting in February with Bangalore and Hyderabad, followed by Mumbai, Pune, and Delhi NCR. This collaboration aims to revolutionize urban mobility by integrating Bounce Infinity’s scooters with SUN Mobility’s swappable battery system, enhancing the convenience and affordability of clean commuting.
Isabella Kaminski details the significant increase in climate lawsuits targeting governments and corporations globally, highlighting their impact on climate policies and human rights. Landmark cases, like Urgenda in the Netherlands and actions against Swiss governmental inaction, illustrate how courts are driving substantial changes in environmental governance and corporate responsibility.
A recent study published in the journal Science analyzes nearly 15,000 public companies, revealing that if corporations had to pay for the climate damage their emissions cause, it would consume approximately 44% of their profits. This significant financial impact highlights the need for enhanced transparency and regulatory measures to mitigate corporate contributions to climate change.
Vishal Kapoor, CEO of Energy Efficiency Services Ltd (EESL), reflects on the company's achievements in 2023 and outlines ambitious plans for 2024. Key initiatives include expanding distributed solar energy, smart metering, and energy-efficient building projects. Kapoor emphasizes the significance of electric buses in reducing greenhouse emissions and the launch of a new e-marketplace for energy-efficient appliances.
Mahindra Group and Ontario Teachers' Pension Plan Board have launched the Sustainable Energy Infra Trust (SEIT), the largest renewable energy InvIT in India, with an initial offer size of Rs. 2262.8 Crore. SEIT aims to scale the renewable energy sector in India, holding operational power assets with a capacity of 1.54 GWp. This initiative highlights Mahindra Susten's growth plans and the focus on India's ambitious targets for carbon intensity reduction and achieving net-zero emissions by 2070.
Ampin Energy Transition has raised $35 million from Swiss firm ResponsAbility Investments AG to boost its solar capacity to 10GWp by 2030. This initiative is part of India's ambitious goal to achieve 500 GW of renewable energy, focusing on sectors like manufacturing and healthcare, underlining a significant stride towards sustainable energy solutions
Vedanta Ltd's aluminium division announces a significant shift towards renewable energy, planning to increase its renewable energy usage to 30% by 2030 and discontinuing further coal-fired capacity. This strategic move aligns with global environmental goals and India's energy policies, positioning Vedanta Aluminium as a leader in sustainable metal production.
At the India Energy Week 2024 in Goa, ONGC and TotalEnergies signed a significant cooperation agreement to detect and measure methane emissions using TotalEnergies' AUSEA technology. This partnership aligns with their commitment under the Oil and Gas Decarbonization Charter to achieve zero methane emissions by 2030, enhancing their global and environmental responsibility efforts.
Vedanta Aluminium, India's leading aluminium producer, will stop expanding coal-fired capacity and shift towards renewable energy, aiming to use 30% renewables by 2030. The shift includes securing 1.3 GW of solar and wind energy, aligning with India's broader energy transition goals despite its ongoing reliance on coal.
Aether Industries, in collaboration with H B Fuller and Saudi Aramco Technologies Company, has announced the commercialization of convergeo polyols technology. This innovative technology incorporates up to 40% carbon dioxide by weight into polyols, significantly reducing CO2 emissions and offering sustainable alternatives for the CASE industry.
Runaya Group, a Mumbai-based startup established in 2017, is revolutionizing the metal sector by implementing sustainable metal recovery technologies. By integrating innovative practices and focusing on sustainability, the company supports the 'Make in India' initiative, significantly boosting its revenue from Rs 40 crore in FY21 to Rs 650 crore in FY24. With technologies that ensure the lowest carbon emissions in green aluminium recovery and plans for further expansion, Runaya is setting a new standard in the industry.
Schneider Electric, through its SEEAA fund, has invested in Biofuels Junction, a Mumbai-based clean energy company. This partnership enhances Biofuels Junction's ability to transform agricultural waste into biofuel briquettes and pellets, aligning with India’s net-zero ambitions and supporting local farmers.
On January 4, 2024, PSA Mumbai achieved a major milestone by becoming India’s first container terminal fully powered by renewable energy. With the inauguration of a 7.8 MW solar farm developed by O2 Power, the terminal will expand its solar capacity to 10 MW by June 2024, providing over 75% of its electricity needs, with the remainder sourced from various renewable providers.
Schneider Electric, under CEO Peter Herweck, views India as a key global hub and its third-largest market, planning significant investments including Rs 3200 crore for new greenfield factories. These investments focus on energy management and automation, aligning with global megatrends like digitization and sustainability. Schneider aims to achieve carbon neutrality by 2025 in its operations, expanding collaborations with companies like Walmart to reduce CO2 emissions.
At the Green Building Congress in Chennai, the Indian Green Building Council (IGBC), in collaboration with the Tamil Nadu government, unveiled India's first Net Zero Carbon rating system. This new system aims to push for net zero carbon emissions in the building sector by 2070, supporting India’s long-term climate goals. The event also highlighted updated green ratings for various facilities and recognized winners from the Green Your School programme.
Magenta Mobility has launched its electric vehicle logistics solutions in Chennai, aimed at decarbonizing India's supply chain. By introducing a fleet of 3W and 4W electric vehicles, the company is set to transform urban freight movement and significantly reduce carbon emissions, marking a critical step towards sustainable logistics.
In an effort to combat climate change, Tamil Nadu, led by Additional Chief Secretary Supriya Sahu, aims to leverage the carbon market for funding vital environmental projects, such as the Wetland Mission and mangrove expansion. The announcement was made at the CII-organized Conference on Carbon Neutrality in Chennai, emphasizing partnerships with private sectors and the creation of green jobs.
Schneider Electric has invested in Mumbai-based Biofuels Junction through its clean energy fund, SEEAA. This initiative supports the conversion of agricultural waste into biofuels, aiming to reduce CO2 emissions and benefit local farmers. The investment will help expand operations and launch a technological platform for the biofuels value chain.
PSA Mumbai, a key container terminal operated by the international port group PSA, has become India's first 100% renewable energy-powered terminal. This milestone was reached with the commissioning of a 7.8MW solar farm developed by O2 Power, which will soon expand to 10MW. This green initiative significantly reduces carbon emissions and supports India's Maritime India Vision 2030.
Peter Herweck, CEO of Schneider Electric, emphasized India's pivotal role as one of the company's four global hubs and its third-largest market. Schneider Electric is set to invest in expanding its Indian operations with new factories, focusing on energy management and automation products. Herweck highlighted the key role of digitization and artificial intelligence in driving the company's growth and its commitment to sustainability through significant CO2 reduction using existing technologies.
Magenta Mobility, a leader in electric mobility solutions, has launched its electric vehicle (EV) logistics services in Chennai, targeting local businesses and key segments like B2C and e-commerce. This expansion aims to support India's decarbonization efforts by incorporating eco-friendly transport solutions, significantly contributing to reduced carbon emissions in the logistics sector.
Tamil Nadu is pioneering climate resilience by integrating carbon markets to fund vital initiatives like the Wetland Mission and mangrove expansion. This strategic move, led by Supriya Sahu, aims to foster significant environmental, economic, and social benefits, aligning local efforts with global sustainability goals.
Dr. John Pinson, CEO of Stanadyne, discusses the company's focus on hybrid and hydrogen technologies as part of its strategy to expand in the Indian market. Amidst the shift towards electric mobility, Stanadyne aims to support segments resistant to electrification like agriculture and gensets, while also developing high-pressure fuel systems for lower carbon emissions.
Denmark has announced the formation of the Green Fuels Alliance India (GFAI) to enhance sustainable energy solutions and achieve carbon neutrality goals through collaborative efforts between Danish and Indian entities. This alliance aims to promote green fuels like green hydrogen and foster innovation and partnerships across maritime and other industries.
Vedanta Aluminium has initiated the domestic supply of Restora, its innovative low-carbon 'green' aluminium, marking a significant milestone in sustainable manufacturing. This initiative was taken in collaboration with Global Aluminium Pvt Ltd in Telangana. Restora Ultra, derived from aluminium dross, boasts one of the world's lowest carbon footprints, nearing zero emissions.
The Indian Sugar Mills Association has rebranded as the Indian Sugar and Bio-energy Manufacturers Association (ISMA) while maintaining its original acronym. This strategic change aligns with its increasing focus on bio-energy, coinciding with the appointment of Mandava Prabhakar Rao as the new president, succeeding Aditya Jhunjhunwala. The rebranding signifies ISMA's commitment to enhancing sustainable practices within the sugar and bio-energy sectors.
India marks a milestone with the launch of its first carbon neutral hospital in Bengaluru, backed by a Rs 1,200 Cr investment from Ambica Medical Foundation. This 500-bed super specialty hospital is a collaboration with Lifeline Hospitals Group, aimed at providing sustainable healthcare solutions.
Steel Authority of India Ltd (SAIL) has signed a comprehensive deal with Ram Charan Company, a Chennai-based firm, to manage greenhouse gas emissions across its major plants including Durgapur, Bokaro, and Burnpur. The partnership, which also involves US-based TFCC International, aims to convert emissions into value-added products and fuels, marking a significant step towards SAIL's carbon-neutral goals by 2070.
Blue Star Limited has introduced an innovative range of energy-efficient deep freezers with capacities from 60 to 600 liters. Designed to function in extreme temperatures and embedded with advanced cooling technologies, these freezers support various applications from dairy to hospitality. Emphasizing their commitment to the 'Make in India' initiative, these products are manufactured at Blue Star’s Wada facility, equipped with modern automation and certified for quality standards.
Mahindra & Mahindra has partnered with the India-Japan Fund to secure a INR400 crore investment for its Last Mile Mobility Limited division, which focuses on electric three-wheelers and small commercial vehicles. This investment, the first by the fund since its inception in August 2023, aims to advance sustainable mobility solutions, thus promoting decarbonization in the transport sector.
The Ministry of New and Renewable Energy (MNRE) has directed Tangedco and other distribution companies to update and replace old wind turbines to boost their efficiency and lifespan. A new policy emphasizes the urgent need for repowering turbines, especially those in Tamil Nadu, aiming to achieve a significant boost in wind energy production. Challenges such as land occupation and financing must be addressed in collaboration with the state government.
Danish engineering group Danfoss has teamed up with Google to implement AI-driven optimizations in data center operations, focusing on energy efficiency and sustainable cooling solutions. This partnership aims to harness Google Cloud's generative AI for customer experience enhancement, internal workflow streamlining, and sustainability efforts in line with Google's 2030 carbon-free goal.
In a detailed conversation with ETDigital, Mayur Sundararajan, CEO of Superfan at Versa Drives Private Limited, explores the rapid evolution of the fan industry in India, particularly highlighting the shift towards Brush-less Direct Current (BLDC) technology. Amidst the growing demands for energy efficiency due to climate change, the industry sees a significant shift from traditional AC motor fans to energy-saving BLDC motor fans. Sundararajan discusses market dynamics, innovation trends, and the strategic approaches Superfan has adopted to navigate this competitive landscape.
In a comprehensive interview with businessline, Vishal Kapoor, CEO of Energy Efficiency Services Ltd (EESL), discussed significant strides made in energy efficiency through various initiatives such as Ujjala, distributed solar, and smart-metering. He also outlined the company's plans for the e-marketplace for energy-efficient appliances and its role in boosting energy efficiency in both B2C and B2B sectors.
In a groundbreaking initiative aimed at enhancing urban mobility, Hitachi Energy India, Ashok Leyland, and IIT Madras are nearing the launch of their flash-charging technology pilot. This technology allows electric buses to be charged in just 20 seconds during routine passenger stops, promising significant improvements in operational efficiency and reductions in carbon emissions.
Hitachi Energy India, Ashok Leyland, and IIT Madras are collaborating on an innovative e-mobility pilot project, slated to be completed in a few months. This project utilizes Hitachi's flash-charging technology, enabling an electric bus to be charged in just 20 seconds. The technology, which significantly reduces operational costs and optimizes efficiency, was first introduced in Geneva a decade ago. The pilot is part of Hitachi Energy’s broader commitment to advancing electric mobility in India.
First Solar, a leading American solar technology company, has officially inaugurated its new production facility in Sriperumbudur, near Chennai, India. This move reflects the company’s commitment to supporting India's renewable energy goals and reducing reliance on traditional solar technologies dominated by China. The plant will primarily serve the Indian market but also handle exports to the US, Europe, Southeast Asia, and the Middle East.
On January 31, 2024, Spanish conglomerate Acciona, specializing in renewable energy and water infrastructure, met with Tamil Nadu's Chief Minister M.K. Stalin to discuss potential investments in these sectors. CEOs Rafael Mateo Alcalá and Manuel Manjón Vilda highlighted opportunities in renewable energy exploration and wastewater treatment.
Top executives from major Nordic companies and climate ministers from Norway, Sweden, and Iceland convened in Oslo to reinforce their commitment to the Sustainable Development Goals and the Kunming-Montreal Global Biodiversity Framework. Emphasizing enhanced collaboration, the meeting underscored the urgent need for a unified approach to nature conservation and sustainable procurement among businesses and politicians.
At the One Earth Summit, CATL's CEO Dr. Robin Zeng called for greater cooperation across sectors to tackle climate change. Highlighting CATL's willingness to share its pioneering battery technologies and Zero Carbon practices, Zeng stressed the importance of collaborative efforts to fast-track sustainable transformations in energy and transportation.
In a surprising move, JPMorgan Chase and BlackRock announced their withdrawal from the Climate Action 100+ alliance, citing the development of their own robust sustainability frameworks. This decision reflects growing concerns over the legal implications and effectiveness of collective climate commitments.
Orange Business and Cisco announced a partnership at MWC, focusing on reducing GHG emissions through four strategic initiatives: emissions trajectory planning, measurement of carbon footprints, circular economy integration, and eco-design of new services. This collaboration represents a significant step towards more sustainable business practices in the tech industry.
Yishan Wong, former CEO of Reddit, leverages his Big Tech experience to tackle climate change through global reforestation. Advocating for scalability and simplicity, Wongs company, Terraformation, is pioneering efforts to massively increase forest carbon sequestration as a pragmatic solution to climate challenges.
A recent report highlights the urgent need for workplace protections against climate risks like extreme heat, revealing that only 17% of CEOs have taken action. New state laws, such as those in Florida and Texas, complicate the situation by restricting local mandates on heat exposure, amidst growing economic threats and productivity losses estimated globally at 295 billion work hours annually.
PepsiCo CEO Ramon Laguarta discusses sustainability initiatives at the World Economic Forum in Davos. He emphasizes the transformation of food systems for long-term sustainability and PepsiCo's commitment to achieving net-zero carbon emissions by 2040, focusing on agricultural resilience and waste management.
Michael Birkin, CEO of kyu Collective, emphasizes at COP28 that the key to tackling climate change lies in making it a personal issue for individuals, not just a scientific one. He advocates for a creative business approach to transform the global discourse and make climate action more relatable and urgent.
Saint-Gobain has entered into a 20-year power purchase agreement (PPA) with Vibrant Energy, a subsidiary of Macquarie Asset Management's Green Investment Group, to provide 189 GWh of wind-solar electricity annually to its six sites in India. This move is aimed at reducing the company's CO2 emissions by about 120,000 tonnes per year and advancing its commitment to achieving 100% renewable energy by 2030.
Arun Kumar Singh, Chairman of ONGC, announced at COP28 in Dubai that ONGC is advancing its decarbonization efforts by significantly reducing gas flaring and transitioning to green power for its oil well operations. This includes using wind and solar power to replace natural gas in the Arabian Sea operations, aiming for a substantive reduction in methane emissions by 2028.
VA Tech Wabag and Peak Sustainability Ventures have joined forces to convert sewage treatment facilities into Bio-CNG plants, aiming to produce over 73 million Kg of Bio-CNG annually. This initiative, set to be implemented across India and various international locations, aligns with global efforts to reduce greenhouse gas emissions and reliance on fossil fuels.
Hitachi Zosen’s Indian subsidiary, along with VishnuSurya Projects and Infra Ltd. and AG Enviro Infra Projects Pvt. Ltd., are entering the waste management sector in Chennai. They will bid on the Greater Chennai Corporation’s ?1,268 crore integrated waste processing facility, aimed at providing sustainable waste management solutions.
French glass manufacturer Saint-Gobain has initiated the production of low-carbon glass at its Chennai facility, reducing carbon content by 40% through significant use of recycled materials. The process utilizes renewable energy and rainwater harvesting, aligning with the company's sustainability goals and contributing to its robust Indian market presence.
Tata Steel is committed to completing the decarbonization of its UK plant within three years, as announced by CEO T V Narendran. The transition involves replacing the traditional blast furnace with a low-emission electric arc furnace (EAF), supported by a £1.25 billion investment jointly funded by Tata Steel and the UK government. This initiative is critical for maintaining the operational capacity of the 3 MTPA steelworks at Port Talbot, which employs about 8,000 people.
The Global Impact Coalition (GIC), a CEO-led group incubated by the World Economic Forum, has been launched to drive the chemical industry towards a net-zero goal by 2050. Initially known as the Low-Carbon Emitting Technologies initiative, GIC comprises leaders from major chemical companies like BASF, Sabic, and Covestro. The coalition focuses on projects like chemical and mechanical recycling of plastics and is collaborating on the development of electrically heated steam cracker furnaces to reduce carbon emissions significantly.
BHP Group's CEO, Mike Henry, clarified during a shareholder call that the company's exit from its petroleum business and divestment of certain coal assets were strategic moves aimed at enhancing shareholder value rather than direct decarbonization efforts. These moves align BHP with future-facing commodities like copper, nickel, and potash, expected to see long-term demand growth. This shift is part of BHP's strategy to reduce its exposure to climate transition risks and capitalize on the megatrends of electrification and decarbonization.
H&M Group CEO, Helena Helmersson, during her visit to Bangladesh, engaged in pivotal discussions with Prime Minister Sheikh Hasina and other key officials to promote the development of a circular and climate-neutral garment industry. The meetings underscored the collaborative efforts to transform the Bangladeshi garment sector and integrate renewable energy solutions. A significant outcome was the signing of a Memorandum of Understanding with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to solidify this partnership.
Ingka Group CEO Jesper Brodin discusses Ikea's climate-positive initiative, including the introduction of plant-based hot dogs and furniture resale strategies. With a €200 million investment aimed at achieving carbon positivity by 2030, Ikea focuses on sustainability in every aspect of its business, from renewable energy in manufacturing to reducing Scope Three emissions.
The World Economic Forum, in collaboration with Kearney and Observer Research Foundation, announced the 'Alliance of CEO Climate Action Leaders India'. This alliance aims to fast-track decarbonization efforts in line with India's net-zero targets by 2070. It integrates key players including the government and business leaders to foster a comprehensive strategy for climate action.
Simon Kofe, the foreign minister of Tuvalu, delivered a powerful visual message by filming his COP26 climate summit speech knee-deep in ocean waters. This act highlighted Tuvalu's vulnerability to rising sea levels due to global warming. The gesture aimed to underscore the immediate risks facing small island nations and advocate for urgent global climate action.
Rohini Pande, Yale University economist and Director of Economic Growth Centre, highlights the potential benefits of a well-designed carbon market in India over traditional carbon taxation. The upcoming Indian carbon market, influenced by successful models like Surat's particulate matter market, could enhance emissions control by allowing companies to trade emission permits, thus fostering cost-effective environmental compliance.
As the global economy transitions to net-zero emissions, insurance companies face unique challenges and opportunities. The shift involves a significant capital reallocation toward low-carbon technologies, affecting industries across the board. Insurers have a critical role in managing emerging risks and aiding an orderly transition through innovative product offerings and solutions. Key areas for growth include insuring the net-zero transition, creating risk transfer solutions for physical risks, and providing adaptation and resilience services.
India's steel sector, significant to the economy and a major emitter of greenhouse gases, is pivotal in the national climate strategy. As the industry aims to double its output by 2030, innovative and sustainable practices are vital to reduce its carbon footprint. With a mix of policy support and technological advancements, India is making strides towards green steel production, supported by initiatives like the Green Steel Mission and international collaborations.
Oil India plans to implement a carbon capture and storage project at its natural gas field in Rajasthan, aiming to store CO2 emissions in dry wells. This initiative is part of their 2040 net-zero strategy, leveraging their subsurface expertise and underutilized wells. As the company advances towards making its operations greener, they are setting up a feasibility study and pilot project, marking a significant step in India's climate action efforts.
The building sector in India is projected to significantly exceed the nation's carbon budget with emissions reaching 90.85 gigatonnes of CO2 equivalent by 2070. This alarming trend highlights the urgent need for sustainable building practices and energy efficiency measures. As India aims for net-zero emissions, integrating modern technologies and nature-based solutions becomes crucial to address the rising GHG emissions from this rapidly growing sector.
Lodha, one of India's leading real estate developers, has embraced a systems leadership role to drive sustainable building practices. With India's built environment projected to double by 2040, Lodha's emergence strategy includes the integration of energy-efficient designs and sustainable practices in their developments, notably through their flagship project, Palava. This approach not only aims at achieving carbon neutrality by 2035 but also sets a new standard for sustainable urban development in India's rapidly growing real estate sector.
Julien Manhes, head of SAF at Airbus, emphasizes India's potential to become a world leader in sustainable aviation fuel (SAF) production, attributing this capability to its vast agricultural resources. With the right strategic investments and policy support, India can leverage its agricultural outputs to meet not only its SAF needs but also contribute significantly to global demands. This advancement could position India at the forefront of reducing aviation emissions globally while boosting its domestic biofuel industry.
The SEC has implemented a new rule requiring U.S. public companies to disclose certain greenhouse gas emissions (Scope 1 and Scope 2), marking a significant step in climate risk transparency. This decision follows modifications to the initial proposal, notably excluding the more comprehensive Scope 3 emissions, to reduce potential legal challenges.
Explore the transformative strategies and innovations leading the charge in global decarbonization. This article delves into the technological advances and sector-specific solutions that are shaping a sustainable future, highlighting key industry moves and collaborations that accelerate carbon reduction goals.
India’s interim budget for FY 2024-25 has prioritized green energy, significantly boosting the biogas sector. Key initiatives include the mandatory blending of compressed biogas (CBG) in city gas distribution networks and substantial financial support for biomass aggregation. These measures address upstream, midstream, and downstream challenges, fostering a comprehensive development of the biogas value chain.
India is rapidly advancing in the biogas sector, leveraging municipal solid waste (MSW) and agricultural biomass to produce compressed biogas (Bio CNG). The ambitious SATAT scheme, bolstered by supportive policies, aims to achieve significant milestones in clean energy production, aligning with India's Panchamrit initiative for carbon reduction and sustainable development.
ONGC and EverEnviro Resource Management have signed an MoU to establish 10 compressed biogas (CBG) plants across India. This joint venture aligns with India's renewable energy goals, aiming to reduce carbon emissions and enhance domestic energy production by utilizing agricultural and municipal waste.
A recent study reveals that 'BioTRIG', a community-level pyrolysis system, can transform waste into bio-oil, syngas, and biochar, offering significant benefits such as reducing indoor air pollution, enhancing soil health, and generating clean power for rural communities in India.
On Shark Tank India's Ecopreneur Special, Canvaloop, founded by Shreyans and Nandini Kokra, impressed the Sharks with their sustainable technology that converts agricultural waste into eco-friendly fibers and yarns, reducing water and energy consumption and carbon emissions compared to traditional materials.
A recent workshop highlighted that India wastes 74 million tonnes of food each year, accounting for 22% of its foodgrain output. This significant loss, attributed to inadequate storage and post-harvest inefficiencies, impacts both the economy and the environment.
As businesses aim to reduce their carbon footprint in alignment with the Paris Agreement, it's crucial to integrate a human rights approach. This approach ensures that transitioning to low-carbon operations not only complies with environmental goals but also safeguards workers, communities, and adheres to social and human rights standards. Such strategies can mitigate adverse impacts and promote sustainable development.
More companies are joining alliances to procure lower emissions. This report assesses the progress of six major corporate coalitions, covering sectors like agriculture, energy, finance, heavy industry, shipping, and transportation. These groups aim to transform corporate procurement practices to prioritize lower-carbon alternatives, showcasing significant commitments and achievements.
The US Securities and Exchange Commission's (SEC) new climate disclosure rules require public companies to report their greenhouse gas emissions and climate risks. However, intense lobbying led to the weakening of these regulations, allowing companies significant leeway in determining what is "material" and excluding upstream and downstream emissions from their suppliers and customers. While a step forward, the rules fall short of driving substantial corporate action needed to address climate change effectively.
Financial institutions have a pivotal role in funding corporate climate action, leveraging tools like green bonds and supply chain financing programs. Prologis and Levi Strauss exemplify how these instruments support green projects and supply chain decarbonization, respectively. The net-zero transition demands trillions in investments, and sustainable finance leaders highlight the need for integrated, impactful financial strategies to meet these goals.
During COP28 in Dubai, WBCSD launched the "CEO Guide to the Climate-related Corporate Performance and Accountability System (CPAS)." This guide aims to align investor valuation with corporate decarbonization, addressing the public demand for transparency and accountability in climate action. The CPAS framework bridges the gap between financial markets and corporate climate performance, supporting businesses in their journey towards sustainability.
A report from the Corporate Climate Responsibility Monitor 2024 reveals that major global companies are not on track to meet necessary emissions reductions. Despite setting climate targets, many companies overly rely on carbon offsetting, undermining their accountability. The report stresses the need for stricter regulations and genuine efforts to reduce Scope 3 emissions, which constitute the bulk of their carbon footprint.
Many companies, including sustainability leaders like Unilever and Microsoft, have failed to meet net zero targets set by the SBTi within the agreed 24-month period. These companies are shifting focus to near-term targets and their own emissions rather than addressing scope 3 emissions, which include suppliers and customers. This self-justifying pragmatism hinders the necessary value chain collaboration to scale up clean materials production. While aspirational climate leadership is crucial for momentum, the reality of achieving these targets is now creating significant challenges.
In a recent exclusive interview with CNBC-TV18, Shell CEO Wael Sawan revealed the company's plan to invest between $10-15 billion in low-carbon solutions from 2023 to 2025. Sawan emphasized the need for collaborative efforts from governments, consumer demand, and corporate supply to overcome the multifaceted challenges in the energy industry. This strategic investment aims to position Shell at the forefront of the energy transition, underlining its commitment to sustainability and innovation.
Feike Sijbesma, High-Level Champions Global Ambassador, discusses the current state of corporate climate action and the importance of collaboration, innovation, and leadership. Highlighting his experience transforming Royal DSM, Sijbesma emphasizes the need for companies to integrate sustainability into their core operations and work collectively towards a net zero, nature-positive world.
The World Economic Forum (WEF) and the Boston Consulting Group (BCG) highlight a 600-gigaton gap in emissions-reduction targets necessary to meet the 1.5°C goal. The report calls for systemic change from businesses and governments, emphasizing the need for immediate, impactful actions. The Alliance of CEO Climate Leaders presents 10 measures to accelerate decarbonization, urging a shift from incremental steps to transformative initiatives to ensure a sustainable future.
CleanTech 1.0 (2006-2011) saw $25 billion invested but over 50% losses by 2015. Notable failures include Solyndra and KiOR. ClimateTech 2.0 is witnessing a resurgence with $100 billion recently invested across various sectors, building on past advancements.
Lessons Learned:
With better capital availability and strategic insights, ClimateTech 2.0 is set to surpass the initial wave, leveraging lessons from the past to foster sustainable growth.
This article by McKinsey outlines more than 30 actionable strategies for smallholder farmers in India, Ethiopia, and Mexico to adapt to and mitigate the impacts of climate change. It emphasizes the urgent need for adaptation as climate hazards could affect nearly 80% of smallholder farmers by 2050, with a potential loss of 450,000 square kilometers of land currently suitable for rainfed rice cultivation in India alone.
In an interview with McKinsey, Carlos Manuel Rodríguez, CEO of the Global Environment Facility (GEF), discusses the importance of multilateral, country-led, and private-sector action to restore and conserve nature. He emphasizes the urgent need to address market failures and outlines strategies within the Kunming-Montréal Global Biodiversity Framework to combat biodiversity loss and climate change effectively.
Schneider Electric has introduced the Catalyze program, in collaboration with Intel and Applied Materials, aimed at reducing carbon emissions across the global semiconductor value chain. Launched at SEMICON West 2023, the program emphasizes renewable energy adoption, collaboratively tackling supply chain emissions with initiatives like collective energy purchasing and utility-scale power purchase agreements (PPAs).
Published by the WBCSD, this article highlights the pivotal role of the finance sector in driving the transition to a net-zero built environment by 2050. It emphasizes the necessity of adopting whole-life carbon assessments, aligning policies, and fostering collaboration across industries to halve built environment emissions by 2030 and achieve net-zero emissions by 2050.
The maritime industry's need to adopt digitalization for effective GHG emission reductions by 2030. Emphasizing the inadequacies of current manual data reporting methods, it highlights the potential for significant emission reductions through optimized ship operations, energy-saving equipment, and transitioning to low-emission fuels. Industry experts advocate for substantial investment in high-frequency data collection technologies to enable precise monitoring and operational adjustments, aiming to meet the International Maritime Organization's decarbonization targets.
Mining giant Vedanta Limited claims to achieve net-zero carbon emissions by 2050, sparking a debate over the feasibility and sincerity of such a pledge given the company's heavy involvement in carbon-intensive industries. Critics label it as potential greenwashing, while Vedanta highlights its ESG leadership ambitions in the natural resources sector.
As scorching temperatures set new records across Southern Europe, James Thornton, CEO of Intrepid Travel, forecasts a significant downturn in summer tourism to the region over the next decade due to increasing heat. In response, Intrepid Travel is proactively revising its travel schedules to better protect tourists from extreme weather conditions. This adaptation reflects a growing trend in the travel industry to consider the impacts of global climate change on operational strategies and destination choices.
obert Boyd, Boeing's regional lead for sustainability policy, emphasized on the "Frankly Speaking" show that sustainable aviation fuel (SAF) is crucial for the airline industry's decarbonization efforts. With technological limits on hydrogen and electric options for long-haul flights, SAF emerges as a primary solution to meet the net-zero goal by 2050. Boyd also discussed the challenges of scaling SAF production and reducing costs, and the potential role of government incentives in supporting this transition.
obert Boyd, Boeing's regional lead for sustainability policy, emphasized on the "Frankly Speaking" show that sustainable aviation fuel (SAF) is crucial for the airline industry's decarbonization efforts. With technological limits on hydrogen and electric options for long-haul flights, SAF emerges as a primary solution to meet the net-zero goal by 2050. Boyd also discussed the challenges of scaling SAF production and reducing costs, and the potential role of government incentives in supporting this transition.
Authored by experts from McKinsey, the article discusses the rising demand for low-carbon materials like steel, aluminum, copper, and plastics in response to strict climate targets aimed at achieving net-zero emissions by 2050. It highlights the emergence of green premiums additional costs for eco-friendly products that incentivize the production and purchase of sustainable materials. Key challenges include the supply-demand imbalances and the need for substantial investments to develop green material capacities.
This article explores the decarbonization of the petrochemical industry, highlighting that direct CO2 emissions have increased by 41% from 2010 to 2020, with a 12% reduction needed by 2030 to stay on track for net-zero by 2050. It discusses the role of biobased feedstocks, advanced recycling technologies, and the adoption of Carbon Capture and Storage (CCS), emphasizing the critical need for enhanced governmental policies and investments to accelerate these technologies and achieve substantial emission reductions.
Local Law 97 is setting stringent carbon emission limits for large properties in New York City, with escalating requirements aiming for a carbon-neutral city by 2050. While the real estate industry shows resistance, opportunities arise for investments in green technologies and services, such as carbon capture and renewable energy installations. This mandate is pushing the real estate market towards significant financial and operational shifts, with Blackstone and other major investors capitalizing on these emerging green economy prospects.
To meet global decarbonization targets, a consensus among national research institutions has determined the need to escalate solar capacity to 75 terawatts (TW) by 2050, representing a growth of over 7,000%. This comes as current efforts lag, with only 1 TW installed globally, stressing the critical need for accelerated action in solar energy deployment.
Sustainable aviation fuels (SAF) present a vital opportunity for decarbonizing aviation, which is a major emitter of greenhouse gases. The Biden administration's "SAF Grand Challenge" aims to significantly scale US SAF production to meet ambitious 2030 and 2050 targets. This escalation in production not only supports environmental goals but also promises substantial economic and employment benefits. However, technological advancements, substantial investments, and supportive policies are crucial to overcoming existing production and economic barriers.
In a compelling narrative, Philips underscores the necessity for the healthcare sector to adopt sustainable practices given its significant environmental footprint. The article outlines six strategic approaches: enhancing energy efficiency in healthcare facilities, fostering circular economies for medical resources, deploying smart digital solutions to reduce material use, innovating service models to optimize existing technologies, minimizing waste production throughout healthcare operations, and advocating for sustainable procurement and supply chain practices. These strategies collectively aim to transform healthcare into a sector that not only cares for human health but also preserves planetary health.
Tata Chemicals, a Tata group company and a leading soda ash manufacturer, is committing to green chemistry principles across all new products. The company is investing in R&D and technology, including IoT and AI, to enhance sustainability in its operations globally. It has introduced a carbon capture plant in the UK and is creating innovative products like highly dispersible silica from rice husk for sustainable tyre production.
"Green Growth Avenues in the Cement Ecosystem" highlights the critical role of the cement industry, which accounts for 4.5% of global greenhouse gas emissions. The article stresses the necessity of collaborative efforts across the cement value chain to meet the ambitious decarbonization goals. It advocates for the adoption of innovative technologies like carbon capture, utilization, and storage (CCUS) and new construction methods to significantly reduce emissions and foster sustainable industry growth.
The article delves into the emerging market dynamics around sustainable materials, highlighting the opportunities for green premiums in commodities like steel, plastics, and aluminum. It outlines the challenges and strategies for both producers and buyers to capture economic benefits as industries aim for net-zero emissions by 2050.
More than 100 leading European companies, including Nestlé, Unilever, and IKEA, have rallied in support of the EU Nature Restoration Law, emphasizing its critical importance for business sustainability and ecosystem resilience. Facing opposition from some political groups, these corporations stress the law's vital role in securing food systems and enhancing biodiversity, ahead of a pivotal vote in the European Parliament.
John Kerry, the US Climate Envoy, embarked on a three-day visit to Beijing to engage in climate talks with Chinese officials. Despite existing tensions on various issues, the discussions aim to foster cooperation on reducing greenhouse gas emissions, transitioning from coal, and boosting renewable energy usage. This visit represents a diplomatic effort to mend frayed ties and build a groundwork for potential future climate commitments.
James Thornton, CEO of Intrepid Travel, discusses the company's efforts in advancing sustainability in the travel industry. Intrepid, a certified B Corp, not only aims to decarbonize travel but also promotes animal welfare and educates the industry with its free downloadable guides. The company also focuses on carbon labeling to enhance consumer awareness of travel impacts.
Chevron CEO Mike Wirth defends the oil industry, asserting that Chevron's products have positively changed life on Earth and are not "evil." Despite global warming concerns and criticism from various quarters including environmental activists and global leaders, Wirth emphasizes the necessity of fossil fuels for energy security and affordability, while acknowledging the importance of reducing emissions.
Peter Zaffino, CEO of American International Group Inc. (AIG), highlights the insurance sector's significant challenges over the past decade, primarily due to unpredictable risks such as pandemics, wars, and climate change-induced natural disasters. Zaffino discusses the industry's responses to increased damages and regulatory challenges, particularly in states like California.
At the Climate Ambition Summit during Climate Week NYC, Feike Sijbesma, a prominent leader in corporate sustainability, discussed strategies for turning businesses into climate leaders. His insights centered on the transformation of companies through collaboration, innovation, and integrating sustainability deeply into their business models, exemplified by his work transforming DSM into a science-based company focused on sustainability.
Mike Cannon-Brookes, co-CEO of Atlassian, champions climate action through a new guide titled "Don't F@#$ the Planet". This guide serves as a practical roadmap for business leaders, urging them to take meaningful steps toward a net-zero economy and manage their companies' climate impacts effectively.
Rich Kruger, the newly appointed CEO of Suncor Energy, prioritizes safety and profitability but notably omits environmental concerns in his public addresses. His return to the oil industry raises questions about Suncor's commitment to its environmental goals amidst ongoing projects like the Pathways Alliance for carbon capture, crucial for meeting Canada's 2030 climate targets.
Yvon Chouinard, founder of Patagonia, discusses with McKinsey how his company proves that profitability and planetary responsibility can coexist. The company, under his guidance, has continually prioritized environmental sustainability and ethical practices, leading to the unique decision to transfer all of its profits to environmental conservation through Patagonia Purpose Trust and Holdfast Collective.
Amidst soaring profits, major oil companies like BP, Shell, and ExxonMobil are scaling back their previously ambitious climate commitments. Despite earlier promises to aggressively reduce carbon emissions and transition to renewable energy, these corporations are now prioritizing short-term financial gains, leveraging high oil prices and political dynamics around energy security to justify reduced investments in renewable initiatives.
United Airlines CEO Scott Kirby, a self-professed climate change "geek," is advocating for a shift from carbon offsets to sustainable aviation fuels (SAF) as a strategy to combat global warming. In his leadership, United has initiated a $100 million venture fund to foster the development of SAF, aiming for a 100% green operation rather than just net zero emissions by 2050.
At just 16 years old, Titouan Bernicot was alarmed by the sight of bleached corals in French Polynesia and decided to take immediate action. Ditching traditional academic pathways, he founded Coral Gardeners, an organization dedicated to coral reef restoration using innovative methods like coral gardening. Today, Coral Gardeners is a pioneering force in marine conservation, planting thousands of corals and leveraging advanced technologies to monitor and enhance reef recovery.
Occidental Petroleum Corp's subsidiary, 1PointFive, and Blackrock Inc have established a joint venture to develop Stratos, a Direct Air Capture (DAC) facility in Ector County, Texas. Blackrock will invest $550 million into Stratos, which aims to become the world's largest DAC facility by capturing up to 500,000 metric tons of carbon dioxide annually. The construction is already 30% complete with the facility expected to be operational by mid-2025.
George R. Oliver, CEO of Johnson Controls, emphasizes the urgent need for decarbonization within the building sector to meet global climate goals. He discusses the potential for buildings, which account for nearly 40% of global energy emissions, to reach net zero through technological upgrades, electrification, and systemic digitalization. Additionally, he introduces a new financing model to facilitate this transition without upfront capital costs.
"Rising Tides of Change: The Implementation of Onboard Carbon Capture in Asia" explores DNV’s innovative onboard carbon capture and storage (OCCS) guidelines. Amid growing environmental concerns, this report delves into the shipping industry’s adoption of OCCS as a crucial strategy in the maritime decarbonization journey, focusing on safety, economic feasibility, and technology integration for zero net carbon emissions.
Essa Al-Saleh, CEO of Volta Trucks, shares insights into the company's mission to revolutionize urban logistics with fully electric trucks. The interview highlights the imminent series production of the 16-ton Volta Zero, the importance of sustainability in logistics, and the collaborative effort needed to decarbonize the industry. Al-Saleh emphasizes the immediate impact of electric trucks on climate change and outlines the company’s future goals, including expanding their product line and establishing service hubs across Europe and the US.
Climate philanthropy is a critical yet underutilized tool in addressing the climate crisis, accounting for only 2% of global philanthropic funding. Organizations like ClimateWorks Foundation have demonstrated its potential by granting over $1 billion to climate projects worldwide. By being agile and catalytic, climate philanthropy can accelerate innovative solutions and bridge significant funding gaps. The GAEA initiative exemplifies how coordinated efforts between philanthropic, public, and private sectors can drive substantial impact, despite the immense financial needs.
In this interview, Gerald Walker, CEO of ING Americas, discusses the bank's innovative approach to sustainable finance and climate leadership. Walker highlights ING's pioneering role in sustainability-linked loans, their ambitious net-zero targets, and the Terra Approach, which steers their loan book towards climate goals. He also emphasizes the importance of credible sustainability targets and the bank's commitment to upskilling employees on ESG.
This interview with Patrick Pouyanne, Chairman and CEO of TotalEnergies, highlights the company's strategic response to the COP21 climate agreement. Pouyanné discusses Total's dedication to reducing carbon emissions through investments in renewable energy, carbon pricing mechanisms, and a commitment to a low-carbon future. The conversation underscores Total's goals for 2035, aiming to be a leader in responsible oil and gas while significantly increasing its renewable energy portfolio.
Monos CEO Victor Tam discusses the company's climate action journey and its commitment to becoming Climate Neutral Certified. He shares insights on implementing a carbon tax within the organization, collaborating with supply chain partners on emissions reduction, and the importance of continuous education and transparency in sustainability efforts. Monos aims to inspire others by integrating climate accountability into its core values and operations.
In an interview with CEENERGYNEWS, Matt Simister, Central European CEO of Tesco, discusses the company's significant strides in reducing food waste and emissions. Tesco has met the UN Sustainable Development Goal of halving food waste by 2030 and aims to be climate neutral by 2035. Simister emphasizes the importance of supply chain collaboration and the adoption of WWF's Principles for Sustainable Food Systems to achieve broader sustainability goals.
Hakan Bulgurlu, CEO of Turkey's Arcelik, discusses Turkey's recent ratification of the Paris Accord and commitment to Net Zero by 2053. Highlighting Arcelik's leadership in sustainability, Bulgurlu emphasizes the company's initiatives in energy-efficient products, green steel usage, and in-house recycling solutions. Arcelik aims to halve its Scope 3 emissions by 2030, showcasing significant strides in sustainable manufacturing.
In an interview with Alex Donaldson, ECOncrete CEO Dr. Ido Sella discusses the company's innovative concrete solutions that enhance marine biodiversity and durability of marine infrastructure. Established in 2012, ECOncrete's technology uses an additive that modifies traditional concrete to support marine life, proving effective in various ocean environments. The company aims to address the environmental impact of conventional concrete used in marine projects, promoting sustainable development and biodiversity.
In a turbulent financial landscape, Temasek, under CEO Dilhan Pillay, is intensifying efforts to integrate sustainability into its investment strategy. By imposing an internal carbon price and committing to net-zero emissions, Temasek aims to secure long-term value and uplift communities, ensuring prosperity for future generations.
Paul Polman, former CEO of Unilever, argues that aiming for sustainability is insufficient. In his book "Net Positive," Polman emphasizes the need for businesses to be restorative, reparative, and regenerative, urging leaders to ask if the world is better off because their business exists.
Hassan Alnaqbi, CEO of Khazna Data Centres, discusses the company's commitment to sustainability while expanding digital infrastructure in the UAE and the GCC. With the increasing demand for data centres driven by IoT, cloud computing, and AI, Khazna is pioneering renewable energy solutions, advanced cooling techniques, and modular designs to reduce environmental impact. The company plans to increase its data centre capacity five-fold over the next four years, with significant expansions into Egypt and the broader GCC region.
Marie Lam-Frendo, CEO of the Global Infrastructure Hub, discusses key strategies to gain investor support for sustainable infrastructure. She highlights the importance of public-private partnerships, risk mitigation, and leveraging technology to meet net-zero goals. The interview covers recent trends in financing, the role of multilateral development banks, and the potential of innovations like infratech.
Jim Fish, CEO of WM, discusses the company’s strategic priorities, including investments in renewable natural gas projects, automation to reduce labor costs, and advancements in recycling and organics management. He highlights WM’s resilience to economic downturns, the shift towards digital customer interactions, and the role of technology in improving operational efficiency and sustainability.
In a fireside chat with Roberto Marques, former chair and CEO of Natura & Co, the discussion highlighted how sustainability and profitability can coexist in business. Marques emphasized the importance of embedding sustainability into the core strategy of companies, driving innovation through sustainable practices, and fostering collaboration over competition. He shared insights on the key qualities needed for boards to oversee ESG integration and the role of diversity and inclusion in achieving sustainability goals.
Top executives from various industries showcased sustainable fashion by wearing upcycled, recycled, and repurposed clothing during a unique fashion event. This event marked the launch of "BossManual," a book by Tati Miranda Fortuna, which guides men in building a sustainable wardrobe. The project emphasizes the importance of conscious consumerism and sustainable fashion practices.
Aviva Investors CEO Mark Versey has called on global financial institutions, including the IMF and World Bank, to develop a comprehensive transition plan to accelerate private capital mobilization for addressing climate challenges. The current financial system is deemed inadequate for supporting the necessary climate actions, requiring proactive leadership and significant reforms.
United Airlines CEO Scott Kirby's commitment to achieving 100% green operations by 2050, without relying on traditional carbon offsets, has caused a stir among competitors. Kirby criticized carbon offsets and highlighted the impracticality of battery-powered aircraft for long-haul flights. Instead, he emphasized the potential of carbon sequestration and sustainable jet fuel, while also pointing out the inefficiencies in current air traffic control systems. His candid remarks challenge the aviation industry's current sustainability practices.
ExxonMobil CEO Darren Woods emphasizes the need for policies that balance climate action with affordable energy production. Speaking at the ADIPEC CEO Summit, Woods highlighted the importance of including oil and gas in the energy transition, promoting carbon capture and storage, and leveraging market mechanisms. He called for a collaborative, technology-agnostic approach to address emissions, ensuring all viable solutions are explored.
At Climate Week NYC, Feike Sijbesma, a prominent advocate for corporate climate action, shared insights on how companies can transition to a net-zero, sustainable future. He emphasized the importance of leadership, collaboration, and embedding sustainability into core business strategies to drive significant climate action and inspire more companies to follow suit.
Levi's CEO Charles V. Bergh encourages washing jeans less frequently to save water and reduce carbon emissions. Highlighting the environmental impact of denim production, Bergh underscores the importance of corporate and consumer responsibility in addressing climate change. By implementing water-saving processes and advocating for sustainable practices, Levi's aims to inspire broader industry and consumer action.
Pope Francis has called on world leaders to set binding climate targets to combat global warming, warning of an imminent "point of no return." Highlighting the disproportionate impact on the world's poor, he criticized high per-capita emissions, particularly in the United States. The Pope emphasized the urgency of transitioning from fossil fuels to clean energy and called for global cooperation at the upcoming U.N. climate talks in Dubai.
Germany aims to achieve climate neutrality by 2045, with a significant focus on improving the energy efficiency of existing buildings. Dr. Jochen Keysberg, CEO of Apleona, discusses the crucial role of facility management, digital solutions, and user behavior in achieving these climate targets.
Sky CEO Dana Strong, alongside the Behavioural Insights Team (BIT), emphasizes the crucial role of television in fostering climate-conscious behaviors. The report, launched at COP26, reveals that 70% of Europeans are willing to change their lifestyle for the climate, but many lack clear guidance. The study provides ten behavioral science principles for broadcasters to effectively inspire green actions, underscoring the need for relatable and informative content.
The financial system must be transformed to drive the necessary investments to combat climate change, according to Kirsten Dunlop, CEO of EIT Climate-KIC. She emphasizes the importance of systemic change and innovation in sustainable finance. Recent developments, including the EU’s Action Plan on Sustainable Finance and the partnership with Mission Innovation, highlight efforts to direct capital towards impactful climate solutions. Dunlop calls for a shift in investor mindset to unlock the potential of climate innovation capital.
Microsoft has announced an ambitious plan to become carbon negative by 2030, aiming to remove more carbon than it emits and erase all its historical carbon emissions by 2050. The company also launched a $1 billion Climate Innovation Fund to foster new carbon capture technologies. This initiative outpaces the efforts of other tech giants like Amazon and underscores Microsoft's leadership in corporate climate commitments.
Rich Lesser, CEO of Boston Consulting Group, discusses the firm's $400 million investment to combat climate change, focusing on reducing business travel, which constitutes over 80% of BCG's carbon footprint. By 2025, BCG aims to cut its business travel emissions by 30% per employee and achieve net-zero climate impact by 2030. This decision, accelerated by the pandemic, emphasizes the shift towards virtual client meetings and sustainable practices.
Halliburton Labs announced the addition of seven new companies—Airovation Technologies, Ayrton Energy, Cache Energy, CENS, Disa Technologies, Marel Power Solutions, and XtraLit—to its collaborative environment. These partnerships aim to advance energy and climate innovation by providing early-stage companies with expertise, connections, and facilities to achieve strategic scaling milestones.
In a surprising move, JP Morgan CEO Jamie Dimon has suggested that governments employ eminent domain to accelerate the development of wind and solar farms, citing the urgent need to combat climate change. Dimon emphasized the necessity of swift action in transitioning to cleaner energy sources to meet global zero emission goals. His proposal, outlined in his annual shareholder letter, has sparked debate over the balance between environmental imperatives and private property rights.
H&M Group CEO, Helena Helmersson, collaborates with Bangladesh's Prime Minister and State Minister for Ministry of Foreign Affairs to enhance the garment industry's competitiveness and sustainability. The partnership aims to foster a circular and climate-neutral garment sector in Bangladesh. Through a Memorandum of Understanding with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), initiatives like Corporate Power Purchase Agreements for renewable energy are pursued. This collaboration underscores the importance of industry-wide cooperation to tackle challenges and prioritize circularity and decarbonization.
The World Bank introduces the Private Sector Investment Lab, featuring 15 esteemed CEOs and Chairs from prominent global corporations like AXA, BlackRock, and HSBC. This collaborative effort aims to tackle barriers hindering private sector investment in emerging markets, focusing initially on scaling transition finance in renewable energy and energy infrastructure. Co-Chaired by Mark Carney and Shriti Vadera, the Lab seeks to mobilize capital effectively through innovative financing structures and partnerships. World Bank President Ajay Banga emphasizes the significance of private sector involvement in addressing intertwined global challenges such as poverty and climate change. The Lab's founding members express their commitment to leveraging their expertise to drive impactful solutions and accelerate progress towards sustainable development goals.
NVIDIA CEO Jensen Huang delivered a keynote at the Berlin Summit for the Earth Virtualization Engines initiative, emphasizing the pivotal role of AI and accelerated computing in revolutionizing climate science. He highlighted the necessity of three "miracles" for achieving the initiative's goals, including simulating climate at kilometer-scale resolution, leveraging AI to emulate climate physics, and virtualizing massive data interactively. Huang introduced NVIDIA's Earth-2 project, a collaborative effort to create Earth digital twins, and discussed the potential of NVIDIA's GH200 Grace Hopper Superchip and software frameworks like NVIDIA Modulus and FourCastNet in advancing climate research.
KLM is actively pursuing its goal to halve carbon emissions by 2030, despite the challenges posed by the pandemic. CEO Pieter Elbers emphasizes the importance of fleet renewal and efficiency improvements, with a focus on integrating sustainable aviation fuels and new, more efficient aircraft. The airline is also exploring the possibility of shifting short-haul flights to trains where feasible. Despite the current uncertainties in the industry, KLM remains committed to its sustainability initiatives, aiming for net-zero carbon emissions by 2050.
Unilever CEO Alan Jope emphasizes sustainability as a core business strategy, asserting its positive impact on the company's bottom line. Despite criticisms, Jope highlights faster growth in sustainable product lines and confirms Unilever's commitment to significant emission reductions and sustainable sourcing, aiming for net zero emissions by 2039.
he Climate Bonds Initiative's latest survey projects that annual green bond investments could hit $1 trillion by the end of 2022. Sean Kidney, CEO, calls for increasing the annual green investment to $5 trillion by 2025 to address the escalating climate crisis and accelerate the transition to a low-carbon economy across various sectors globally.
The Science Based Targets initiative (SBTi) reported significant progress in 2021, with companies covering $38 trillion of global market capitalization, about a third of the global economy, committing to science-based climate targets. This growth represents a shift towards more rigorous environmental goals, aligning corporate actions with the science necessary to meet the Paris Agreement’s objectives.
The Fashion Pact, a CEO-led coalition founded in 2019, has announced a Collective Virtual Power Purchase Agreement (CVPPA) to expand renewable energy use in Europe, showcasing the potential for collective action in the fashion industry. The initiative aims to add over 100,000 MWh per year of wind or solar power to the grid. Beyond renewable energy, the coalition is also focused on regenerative agriculture, reducing ocean pollution, and enhancing biodiversity conservation.
Charles Emond, President and CEO of CDPQ, is leading the charge in climate-focused investments. With over $291 billion in global assets, CDPQ is committed to sustainable investment, aiming for carbon neutrality by 2050. Emond emphasizes the importance of ESG in investment decisions, reflecting a broader shift towards prioritizing environmental, social, and governance factors in the financial sector.
The U.S. Department of State, The Rockefeller Foundation, and the Bezos Earth Fund held the inaugural meeting of the High-Level Consultative Group (HLCG) to design the Energy Transition Accelerator (ETA). This initiative aims to catalyze private capital to expedite the transition from fossil fuels to clean energy in developing countries, supporting the global effort to limit warming to 1.5°C. The HLCG includes leaders from various sectors who will guide the development of a framework to generate high-quality carbon credits and fund clean energy projects, job creation, and economic growth.
Sundar Pichai shared a compelling narrative on climate action, backed by his personal experiences of environmental extremes from droughts to floods. He illustrated Google’s pivot to sustainability, highlighting that 100% of Google's energy consumption now comes from renewable sources, compared to a decade ago. Pichai's vision extends to making Google's data centers operate on carbon-free energy 24/7 by 2030, aiming to influence billions globally through sustainable choices integrated into Google's services.
In response to the Covid-19 crisis, the CEOs of the Oil and Gas Climate Initiative (OGCI) affirm their commitment to accelerate climate action despite economic disruptions. Emphasizing health, safety, and environmental protection, OGCI pledges to continue advancing low-carbon technologies and solutions, supporting governmental policies for sustainable energy transitions, and promoting international collaboration and innovation to address climate challenges.
In an urgent response to climate change, CEOs from top global companies reveal their strategies for achieving net-zero emissions. Christian Mumenthaler of Swiss Re highlights a robust internal carbon levy, while Jesper Brodin from IKEA discusses a comprehensive shift towards renewable energy and circular business practices. These leaders, along with others, are setting ambitious goals to reduce their carbon footprints significantly, leveraging corporate influence and innovative policies to foster a sustainable future.
As political pressures escalate, companies like BlackRock and Vanguard are increasingly practicing "greenhushing," a term describing the silent retraction of public climate commitments to avoid backlash from both conservative and liberal groups. This trend is highlighted by instances such as BlackRock's removal of commitments from its sustainable investing webpage and Vanguard's scrubbing of references to its climate initiatives. This strategic silence comes amid a broader debate over ESG policies, illustrating a shift from the previously common practice of "greenwashing," where firms exaggerated their environmental efforts.
The article "Utility CEOs See Green as Pay-for-Climate Goes Mainstream" examines the emerging trend among major U.S. electric utilities of tying executive compensation to climate action goals. Companies like Duke Energy and Southern Co. are setting performance metrics linked to environmental targets to drive a shift towards cleaner energy. This strategy is scrutinized for its effectiveness and transparency, with findings suggesting varying levels of success and rigor in aligning pay with genuine climate progress.
Jamie Dimon, CEO of JPMorgan Chase, in his annual letter to shareholders, emphasized the urgency of addressing climate change through significant policy changes, including the use of eminent domain. He argued that immediate and substantial investments in green infrastructure like grids, solar, and wind are necessary to avert severe climate impacts. Dimon highlighted the role of governments, businesses, and NGOs in aligning to expedite these climate solutions.
The CEO of Asahi, Atsushi Katsuki, expressed concerns that climate change could severely impact barley supplies in Europe, vital for beer production. Under severe warming scenarios, significant reductions in barley yields could challenge the brewing industry. Asahi and other major brewers are exploring resilient crop alternatives and advanced technologies to mitigate these effects.
Lufthansa CEO Carsten Spohr discusses the aviation industry's resurgence post-Covid and the challenges and potential in scaling up sustainable aviation fuels (SAF). Despite significant investments in new, more efficient aircraft and leading Europe in SAF usage, he stresses the need for a global approach to energy and the limitations of current biofuel solutions.
A coalition of 54 consumer and environmental groups from 26 countries has urged Toyota to phase out internal combustion engine vehicles globally by 2035 and in Europe and the U.S. by 2030. This call aligns with the appointment of Toyota's new CEO, Koji Sato, who has a history of pushing for electrification at Lexus. The groups criticize Toyota's previous resistance to electric vehicles and demand an end to anti-climate lobbying, a commitment to using 100% renewable energy, and other sustainable practices.
During COP26, Mastercard announced an acceleration of its net zero goals to 2040 and introduced widespread adoption of the Carbon Calculator across Europe and Latin America. The company has integrated its sustainability efforts across its operations, including the adoption of renewable energy and reducing emissions throughout its value chain. Collaborations with various banks and the launch of sustainable card programs exemplify its commitment to promoting climate-conscious consumer choices.
Ryanair's CEO, Michael O'Leary, criticizes the portrayal of aviation as the primary villain in climate change discussions, noting that the sector contributes only 2% to global CO2 emissions. He asserts that despite environmental concerns, consumers prioritize cost over climate impacts, continuing to favor budget-friendly flights. O'Leary remains skeptical about the immediate impact of sustainable aviation fuels (SAF) and advocates for other efficiency improvements within the industry.
In the Fortune article by Henry Fernandez, CEO of MSCI, the financial markets' role in combating climate change is highlighted through the necessary reallocation of trillions of dollars towards achieving net-zero carbon emissions by 2050. Despite a lack of political consensus, this shift is underway, driven by the need to reflect long-term climate risks and opportunities in asset valuation.
WasteFuel CEO Trevor Neilson criticizes unsustainable consumer behaviors at the Fortune Global Forum, discussing the transformation of municipal solid waste into low-carbon fuel as a potential solution to the growing waste crisis, emphasizing the need for responsible consumption and innovative approaches to environmental challenges.
Jakob Stausholm, CEO of Rio Tinto, highlighted Canada's progressive stance on climate change, being a decade or two ahead of other Western nations. The company plans to deepen its investment in Canada's critical minerals sector, vital for its goal to cut carbon emissions by 50% by 2030. Canada's robust renewable energy resources and high green energy content are pivotal in attracting such investments, aligning with the nation's push to enhance its low-carbon battery industry and reduce reliance on imports, particularly from China.
Paul Polman, former CEO of Unilever, emphasizes the crucial role of business in addressing societal failures exacerbated by the COVID-19 pandemic and racial tensions. Through his organization Imagine, he advocates for collaborative, industry-wide action to foster sustainable business practices that prioritize social equity and environmental responsibility.
"To Meet the Climate Challenge, Philanthropy Must Challenge Itself" by Laurence Tubiana & Christie Ulman emphasizes the urgent need for climate philanthropy to innovate and collaborate more effectively. As philanthropy's role in combating climate change grows, the authors call for a strategic, integrated approach to funding, warning against the wasteful pursuit of "silver bullet" solutions and advocating for systemic change to achieve carbon neutrality.
In a recent interview with TIME, Jesper Brodin, CEO of Ingka Group which runs Ikea, discussed Ikea's evolution towards sustainability amidst the challenges of economic instability and supply chain disruptions. Brodin shared insights on Ikea's move away from disposable furniture towards more sustainable practices, including their innovative approaches to furniture design and recycling initiatives like their mattress recycling project.
Mitsubishi Corporation's CEO Takehiko Kakiuchi discusses the company's strategies for economic recovery post-pandemic and its ambitious decarbonization roadmap. With a focus on reducing greenhouse gas emissions by 50% by 2030 and achieving net-zero emissions by 2050, Kakiuchi emphasizes the importance of balancing traditional energy sources with renewable investments. He also reflects on the company's efforts to enhance digital transformation and collaboration across diverse business lines to navigate the global recovery and drive sustainable growth.
Patagonia CEO Ryan Gellert condemns corporations for proclaiming climate commitment while opposing essential climate policies. Emphasizing Patagonia's rigorous self-evaluation and activism, Gellert highlights the need for systemic change and corporate accountability to genuinely address the climate crisis.
James Watt, co-founder of BrewDog, discusses the company's shift towards sustainability, including the creation of a 9,300-acre Lost Forest in Scotland, a double-offsetting carbon initiative, and significant investments in renewable energy and bio-energy plants. Watt emphasizes the importance of employee engagement in achieving sustainability goals and the challenges faced in the carbon offsets market.
Climate change is jeopardizing worker health and productivity, with nearly half of the U.S. workforce (65 million people) facing climate-related health risks. Extreme weather events like wildfires and heatwaves have led to significant economic losses and health issues. Business leaders must mitigate these risks, as productivity can decline by up to 70% in extreme temperatures, costing over $100 billion annually. Collaborative efforts between the private sector and government are essential to build a climate-resilient workforce.
The new report by Microsoft and BCG emphasizes the urgent need to bridge the sustainability skills gap. As companies globally make climate pledges, there is a critical shortage of the workforce equipped with necessary sustainability skills. The report offers concrete recommendations for business leaders and policymakers to collaboratively address this gap through better data, upskilling initiatives, and preparing future workers for sustainability jobs.
Deloitte has launched a comprehensive climate education initiative for its global workforce of 330,000 employees. The program aims to inform and inspire employees about climate change impacts and empower them to make responsible choices at home and at work. The initiative includes a 45-minute digital learning module, developed with WWF, featuring videos, interactive content, and testimonials, all designed to elevate climate literacy within the organization.
Educating employees on sustainability and climate change is essential for companies aiming to achieve ambitious net-zero goals. Deloitte's research highlights that well-informed employees can drive significant organizational change and enhance corporate sustainability. Companies like IKEA, Diageo, and AXA are leading the way by integrating climate education into their workforce training programs, fostering environmental awareness, and promoting sustainable business practices.
Patagonia’s founder, Yvon Chouinard, has taken a groundbreaking step by transferring ownership of his $3 billion company to a trust and a nonprofit dedicated to fighting climate change. This bold move aims to ensure the company's profits support environmental causes, positioning Patagonia as a potential new benchmark for corporate responsibility. This decision highlights the ongoing tension between profitability and sustainability in business practices.
A groundbreaking report reveals that militaries contribute 5.5% of global emissions, akin to major emitters like Russia. With conflicts exacerbating this issue, urgent strategies are imperative. Enhanced reporting and reduction efforts are crucial to mitigate this overlooked contributor's impact effectively.
Unilever's new CEO, Hein Schumacher, is steering the company towards a revamped sustainability strategy, deviating from its previous "aspirational" climate commitments. Schumacher aims to integrate sustainability into the evaluation process for brand managers, emphasizing short-term impact over long-term goals. This shift marks a departure from Unilever's traditional sustainability approach, aiming for more focused efforts across key pillars: climate, nature, plastics, and livelihoods. While some analysts remain skeptical, others view this move as a necessary adjustment to drive both environmental responsibility and market growth.
Banco do Brasil CEO Tarciana Medeiros emphasizes the bank's role in combating deforestation in the Amazon by promoting sustainable economic opportunities. She highlights Brazil's significant share of the Amazon rainforest and the need for financial institutions to support a low-carbon economy. Medeiros outlines strategies to restore degraded pastures and expand cultivated areas without harming the rainforest. The bank aims to secure substantial funding to support climate finance, renewable energy, and environmental restoration initiatives.
Levi Strauss CEO Chip Bergh has attributed soft denim sales to rising temperatures, noting that extreme heat has deterred customers from purchasing jeans. This phenomenon highlights a broader trend where climate change is influencing consumer behavior and supply chains. Experts suggest that as climate disruptions become more frequent, various industries will face similar challenges, leading to increased costs and changing consumer needs. The Treasury Department has also warned that climate change will significantly impact household expenses, including utility bills and food prices.
A survey of 2,506 employees across France, Germany, Spain, the UK, and the US reveals that 77% of business travelers believe their CEOs can help combat climate change by curbing corporate flights. The study highlights that employees expect management to set clear targets for reducing air travel, aligning with their preference for virtual collaboration and alternative transport methods. The shift in corporate travel policies is seen as a critical step in reducing carbon footprints and attracting top talent.
Suncor Energy Inc.'s CEO Rich Kruger announced a strategic pivot back to an oil-centered business approach, emphasizing immediate shareholder value over long-term clean energy initiatives. Despite committing to net-zero emissions by 2050, Kruger believes prioritizing oilsands and traditional oil assets is essential for the company's competitiveness. This shift comes amid a backdrop of record global temperatures and climate change-driven disasters, drawing criticism from environmental groups.
Volkswagen transformed from a company marred by the 2015 Dieselgate scandal into a leader in e-mobility and sustainability. With the help of a diverse Sustainability Council, VW shifted its focus to zero-emission vehicles, collaborating with policymakers and stakeholders, and investing heavily in decarbonization and innovation.
Dilhan Pillay, CEO of Temasek, underscores the importance of internal carbon pricing in a dialogue with Jean-François Manzoni. Despite 2022’s market turbulence, Temasek’s robust portfolio yields a 14% annual return since 1974. Pillay’s sustainability-driven leadership shapes Temasek’s 2030 strategy, targeting carbon reduction and net zero. Temasek’s bold steps include internal carbon pricing and decarbonization investments, reflecting its commitment to sustainability.
NZAOA, led by Günther Thallinger, has grown significantly in its four years, now with 86 members managing $11 trillion in assets, committed to net-zero by 2050. The alliance emphasizes the importance of setting and meeting intermediate targets and the need for initiative consolidation in the financial industry. Thallinger discusses the oil and gas sector's role, the necessity for blended finance, and Allianz's Net-Zero Transition Plan aimed at creating a ripple effect in climate action.
CEOs of IIGCC, UKSIF, and PRI sent a letter to UK Prime Minister Rishi Sunak expressing concern over recent policy shifts that may undermine the UK’s transition to net zero. The letter emphasizes the need for certainty, consistency, clarity, and continuity in policymaking to attract long-term investments. The investors warn that delays and reduced ambitions in climate policies risk losing significant economic opportunities to more consistent regions.
Allied Climate Partners, IFC, MAS, and Temasek form a green investment partnership to bridge Asia’s climate finance gaps and boost sustainable projects’ bankability. The focus is on Southeast Asia, targeting sectors like renewable energy, electric vehicles, and sustainable transport. The initiative aims to deliver environmental and social benefits through blended finance and collaboration, catalyzing private investment. The partnership, highlighted at COP28, emphasizes public-private cooperation in hastening the transition to a sustainable future.
Oil and gas leaders at CERAWeek highlight the significance of U.S. climate legislation, foreseeing boosts for emerging technologies like low-carbon hydrogen. However, concerns over permitting hurdles linger despite the Inflation Reduction Act's hefty investments in climate and energy sectors. Executives call for streamlined permitting processes to expedite projects involving carbon capture and clean hydrogen production.
Siemens CEO Roland Busch discusses how the company's focus on energy efficiency, digitalization, and automation positions it to address climate change challenges. Siemens anticipates significant growth in these sectors, driven by increased demand for sustainable solutions in buildings, factories, and transportation. Innovations in medical imaging and high-speed rail further highlight Siemens' diverse impact on global efficiency and sustainability.
Morgan Stanley's survey reveals a gap between asset managers and owners in sustainable investing practices, emphasizing the need for better ESG reporting and alignment. Despite growing interest in sustainable funds, discrepancies in data provision and product offerings hinder progress. Enhancing ESG disclosures and expanding investment themes like water solutions and climate change are key opportunities.
Grosvenor CEO Mark Preston emphasizes the economic benefits of strong ESG practices, viewing them as opportunities rather than burdens. The company's focus on greener, more efficient buildings has led to higher pre-let rates and rents. With sustainability integrated into its strategy, Grosvenor aims to thrive amid economic challenges and shifting market demands.
Climate change poses a severe threat to cocoa and coffee production, jeopardizing the livelihoods of millions of smallholder farmers. Rising temperatures, erratic rainfall, and pests are reducing crop yields, potentially making these staples luxuries. Urgent action, fair pricing, and sustainable farming practices are essential to future-proof these industries and support vulnerable farming communities.
Semiconductor industry leaders discuss the pivotal role of chip innovation in addressing climate change, emphasizing the need for power efficiency in data centers. As Moore's Law wanes, new architectures and integrated hardware-software solutions are essential to meet growing demands and reduce power consumption, making semiconductor advancements crucial in the fight against climate change.
TotalEnergies CEO Patrick Pouyanne defends the company's continued investment in oil and gas, despite climate activists' demands for faster transitions to low-carbon energy. Pouyanne emphasizes the need for balanced energy strategies, integrating both fossil fuels and low-carbon technologies, to ensure energy security, affordability, and sustainability.
Ziv Aviram, co-founder of Mobileye, has launched a climate-tech fund called EcoBridge with former U.S. President Bill Clinton. Driven by the urgency of the climate crisis, Aviram aims to invest in mature companies focusing on sustainable solutions. The fund plans to raise $1-2 billion to address critical issues like green energy, deforestation, and sustainable agriculture.
Siemens Chairman Jim Hagemann Snabe suggests that a billion people reducing meat consumption could significantly impact climate change. Speaking at the World Economic Forum, Snabe emphasized the potential for innovation in food systems and the development of zero-carbon, healthier protein alternatives. This stance aligns with the WEF's broader push for sustainable food solutions to address global warming.
Trevor Neilson, CEO of WasteFuel, highlights the unsustainable consumption patterns contributing to the climate crisis. At the Fortune Global Forum, he emphasized the need for innovative solutions like converting waste into renewable fuel. Neilson advocates for a shift in mindset and greater collaboration to address environmental challenges.
A new WEF report highlights a 600-gigaton emissions-reduction gap. The Alliance of CEO Climate Leaders urges systemic changes, detailing 10 impactful actions for businesses and governments to accelerate decarbonization efforts and meet the 1.5°C target.
A PwC survey reveals that over two-thirds of CEOs plan to upskill their workforce for climate change, with more than three-quarters innovating new climate-friendly products. The study highlights a growing focus on long-term megatrends and the need for fundamental business reinvention to address climate risks and opportunities.
Patagonia's CEO, Ryan Gellert, outlines the company's innovative restructuring to donate most profits to environmental causes while maintaining fiscal health. This shift, inspired by founder Yvon Chouinard, aims to set a model for sustainable business practices and encourage others to prioritize climate action.
EverEnviro and Indraprastha Gas Limited (IGL) have announced a partnership to set up compressed biogas (CBG) plants. This collaboration aims to enhance sustainable energy production and reduce carbon emissions by converting organic waste into renewable fuel.