Page 2 - Sustainable Development

JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank

JSW Cement on Monday said it has raised Rs 400 crore from MUFG Bank India as its first sustainability-linked loan. The Sajjan Jindal-led company plans to deploy the fund for capital expenditure to achieve its annual capacity target of 25 million tonne by FY25, it said in a statement. While this credit line is the first sustainability-linked loan for the company, it is also MUFG Bank India's first transaction undertaken out of its new IFSC unit branch launched in August 2022 in the Gift City, it said. Parth Jindal, Managing Director of JSW Cement, said the funding will enable the company to meet its goal of 25 million tonne per annum capacity by FY25 and also forms part of its environmental, social, and governance (ESG) objectives. JSW Cement has installed capacity of 17 million tonne across its units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra. Its subsidiary Shiva Cement is investing Rs 1,500 crore in a

Must not let current developments jeopardise 2030 Agenda: S Jaishankar

India and the United States must not let the current global developments jeopardize the 2030 Agenda for Sustainable Development, External Affairs Minister S Jaishankar said Tuesday. At a joint media appearance with Secretary of State Antony Blinken, Jaishankar said he shared with his American counterpart his experience of interactions during the UN General Assembly about the deep anxieties in the Global South on fuel, food and fertilizers. "The increasing salience of green growth, digital development, and affordable health is today very, very evident," he said. "We must not let current developments jeopardize Agenda 2030 on SDGs (Sustainable Development Goals) or to deflect us from climate action and climate justice commitments," Jaishankar said. Blinken said both the countries are working in the field of climate change. "Catastrophe and adapt to the changes to come because the future of our people and people everywhere depends in no small part on hitting the ambitious targets tha

Green mobility to play key role in India's decarbonisation: NITI CEO Iyer

Green mobility is going to play a major role in decarbonisation of India's transport sector, NITI Aayog CEO Parameswaran Iyer said on Wednesday. Iyer, while addressing an event organised by the 'Shoonya Forum', noted that the role of financing is critical for scaling of electric mobility in India. He also stressed on the need of finding ways to reduce risks associated with financing of electric vehicles. Pointing out that the rural India is urbanising rapidly, the NITI Aayog CEO said there is a need to push electric vehicles in smaller cities also. According to a recent report prepared by NITI Aayog and Rocky Mountain Institute (RMI) India, banks and non-banking financial companies (NBFCs) have the potential to achieve electric vehicle financing market size of Rs 40,000 crore by 2025 and Rs 3.7 lakh crore by 2030. The report had also stressed that lending by banks and NBFCs for buying EVs should be included in the Reserve Bank of India's (RBI) priority-sector lending (PSL) ...

Jammu will emerge as new model of sustainable development, says LG

Jammu will emerge as a new model of sustainable development in the next few years, Jammu and Kashmir Lt Governor Manoj Sinha said on Thursday. As many as 3,506 development projects were completed in the winter capital Jammu in the last financial year, while 4,115 projects will be completed during the current financial year, he said. Inaugurating the recommencement of balance work of Tawi Barrage here, he said the ambitious project, which was delayed for more than a decade, will enhance scenic beauty, increase tourism potential of the city of temples and ensure creation of recreational spots for people. Today's initiative is a part of the government's endeavour to develop urban centres as engines of economic growth and make the cities ecologically and economically sustainable. "The new and robust infrastructure will cater to tourists as well as the local population, making citizens partners in the conservation and development of water bodies, he said. Under the leadership of Prime

UNGA President calls for action to return world to sustainable development

UN General Assembly President Abdulla Shahid has proposed action in five areas to bring the world back on track toward sustainable development

India needs to promote and form Green Hydrogen Corridors, says NITI Aayog

India needs to form Green Hydrogen Corridors and governments can look at providing grants to startups as well as support entrepreneurs to promote green hydrogen, NITI Aayog said on Wednesday. In a report titled 'Harnessing Green Hydrogen - Opportunities for Deep Decarbonisation in India', the Aayog also suggested that there is a need to facilitate investment through demand aggregation and dollar-based bidding for green hydrogen. "Three hydrogen corridors should be developed across the country based on state grand challenges ... The governments can provide grants and loans to startups and projects, support entrepreneurs through incubators and investor networks, and put in place regulations that manage first-mover risks, " the report said. The government can also use public procurement and purchase incentives (for green hydrogen) to create demand in niche markets and crowd in private investment, it added. The report suggested that the government should promote export of green hydrog

India witnessing early signs of sustainable economic revival: Deepak Parekh

The country's economy is seeing early signs of sustainable revival amid a volatile global environment, veteran banker Deepak Parekh said on Monday. Addressing the shareholders of HDFC Life at the 22nd Annual General Meeting, he said there is a pick-up in domestic economic activity due to an increase in private consumption. "We remain optimistic about the resilience of India's economy despite the high volatility in the global environment. We are now witnessing early signs of a sustainable economic revival, Parekh, who is the Chairman of the private life insurer, said. He said high growth in non-oil and non-gold imports reflects the pick-up in domestic demand and the domestic economic activity is fueled by private consumption and rising discretionary spending. According to him, the expected normal south-west monsoon this year is likely to support rural consumption. "We remain vigilant of the implications of the current geopolitical tensions, elevated commodity prices, growing extern

Stockholm+50 calls for just transition to sustainable economies

Hundreds of speakers attending Stockholm+50 have called for "real" commitment to urgently address global environmental concerns and for a just transition to sustainable economies that work for all

Robert Piper becomes Guterres' special adviser on internal displacement

The appointment of a special adviser "is a key component of the secretary-general's Action Agenda on Internal Displacement", according to a statement issued by the UN chief's office

Europe lagging on UN Sustainable Development Goals; met 25 of 169 targets

The pandemic has affected access to healthcare services with the potential to further slow progress on preventable diseases, premature mortality, mental health and family planning, the report said

IndiGo takes delivery of first Airbus plane operating on sustainable fuel

Any fuel that has lower carbon emissions than conventional kerosene is known as Sustainable Aviation Fuel (SAF)

Energy requirements of Indians expected to double in 20 years: PM

Delivering the inaugural address at the 21st World Sustainable Development Summit 2022 (WSDS-22), Modi said environmental sustainability can only be achieved through climate justice

JSW Group joins World Business Council for Sustainable Development

JSW will be represented in WBCSD by Seshagiri Rao, Joint Managing Director and Group CFO, who also sits on the board of directors of JSW Steel

Economic Survey: Climate finance, resource mgt key to Climate adaptability

While it lauded commitments made by India at COP26 global climate conference, it also made a note about the pace of investment in net-zero emission planning

How govt, pvt sector readied to steer India to path of sustainable energy

Experts agree that the challenge will come from the ground, especially state-level departments and consumers

Bayer is venturing deeper into sustainable farming, says D Narain

Narain, 58, might be a chartered accountant by qualification but farm business is where his heart lies

India will always strengthen any effort for sustainable development: Modi

During his meeting with the top EU leaders on October 29, Modi held extensive discussion covering trade and investment ties, climate change, COVID-19, global and regional developments.

Accelerate action to achieve net zero transport emissions: UN summit

The UN Global Sustainable Transport Conference concluded with a call to accelerate progress towards achieving sustainable transport that would result in major reductions in greenhouse gas emissions

World looks up to India for firm belief in sustainable development: Bhagwat

RSS chief Mohan Bhagwat on Saturday said the world looks up to India for its firm belief in sustainable development and eco-friendly lifestyle

Big push to infra, education, healthcare needed for sustainable growth: Das

Shaktikanta Das on Wednesday underlined the need for a big push to infrastructure investment, education and digital economy to achieve sustainable growth and generate jobs in smaller cities.