Sustainability Financial News

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch. The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India, REC said in a statement. “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India,” said Vivek Kumar Dewangan, CMD, REC.

Q. What economic concerns are central in Britain’s 2024 election? A. Britain faces certain structural challenges now — growth is limping back to a very low level after a practically recessionary situation. It is unclear how GDP will increase. This problem is shared by other European economies and Japan as well. The United States escapes this by being a vast market with more robust demographics while Europe and Japan are ageing — one solution is immigration but it’s a highly problematic political issue in the UK. So, in Britain currently, there is no clear route to growth beyond 1% or 2% — we are not talking about anything close to the 6% or 7% seen in India.

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Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed.

The Biden administration’s recent proposal to introduce a 30% tax on the electricity consumed by Bitcoin miners, dubbed the Digital Asset Mining Energy (DAME) tax, has ignited considerable debate within the cryptocurrency sector.

Defence stocks like Hindustan Aeronautics, Bharat Dynamics, Bharat Electronics and others are in focus after the government granted an extension in the exemption of customs duty on the imports of certain parts. Initially set to expire on July 1, 2024, the exemption has now been extended for five years, until 2029. So how does it impact the stocks? 

New Delhi: In what is one of the world’s largest carbon-free green energy supply contract, state-run SJVN's green energy arm will supply 4.5 gigawatt (GW) of renewable energy to AM Green Ammonia Holdings. The company, promoted by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty, is in the process of setting up one of the world's largest green ammonia production facilities, which will begin with the production of one million tonnes of green ammonia per annum in the first phase, and ramp it up to five million tonnes per annum (mtpa) in the second, set to be completed by 2030.

progress on achieving the Sustainable Development Goals by 2030 remains uneven, slow and mostly elusive. The United Nation's annual report card, Sustainable Development Goals Report 2024, launched in New York on Friday, finds only 17 % of the SDG targets are currently on track, with nearly half showing minimal or moderate progress, and over one-third stalled or regressing. «The world is getting a failing grade,» said UN Secretary-General Antonio Guterres. «The takeaway is simple: Our failure to secure peace, to confront climate change and to boost international finance is undermining development. We must accelerate action for the Sustainable Development Goals — and we don't have a moment to lose.» Between 2015, when countries adopted the SDGs to 2019, there were marked gains and improvements though these too were insufficient to achieve the goals by 2030. However, the COVID-19 pandemic and its lingering impacts, the energy, food and economic crisis resulting from the wars and escalating conflicts, geopolitical tensions and growing climate chaos have severely hindered progress.

Hamster Kombat, the popular Telegram-based clicker game associated with an upcoming crypto token launch, has faced scrutiny due to its excessive use of social pressure tactics.

warehousing sector is seeing increasing adoption of solar power, driven by cost savings, environmental benefits as well as supportive government policies.

The nation is actively striving for a more environmentally-friendly and sustainable future by concentrating on decreasing greenhouse gas emissions, enhancing energy efficiency, and embracing renewable energy sources. Driven by this, the real estate industry in India is also witnessing a significant increase in green building and sustainability projects, covering all parts of the country.

ET Infra had earlier reported that A.P. Møller Capital P/S, part of the A.P. Moller Group, is said to be among entities seeking to buy GIP's Pristine Logistics stake.

killing of a party functionary and seeking immediate action to bring to justice the perpetrators of the crime, AIADMK general secretary Edappadi K Palaniswami on Sunday slammed Chief Minister M K Stalin over law and order in the state.

Titagarh Rail, whose shares ended last week with a 17% return, remains strong, with momentum continuing to be very robust, according to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. “Dips should be utilised to initiate fresh positions, with strong support at Rs 1,770. The stock is likely to touch the Rs 2,000 mark in the near term, with the uptrend intact on the daily chart.”

Both the Sensex and Nifty gained for four consecutive sessions before closing Friday's trading session in the red. However, both indices managed to sustain their gains and closed the week positively.

Hurricane is brewing! The US National Hurricane Center in its forecast predicted that Tropical Storm Beryl was expected to strengthen into a dangerous major hurricane. It is likely to hit Barbados late Sunday.

Nifty ended Friday’s session in red at 24,010. Since Tuesday’s session, the prices made new peaks each day, the all-time high of the index currently being 24,174. Nifty is sustaining nearly 300 points above its 10 day exponential moving average while Bank Nifty is trading close to 550 points above the same on daily charts.

MSMEs will expand their presence across various sectors, producing a wide range of products consumed by millions regularly. Today, MSMEs play a pivotal role by contributing approximately 30% to India’s GDP, as reported by the MSME Ministry’s FY23 annual report. The progressive ecosystem of India and the availability of required resources have enabled MSMEs to deploy cutting-edge technologies to transform the energy space. From how energy is extracted, managed, and consumed to how it is sold, MSME startups are playing a critical role in digitising and revolutionising the customer journey. Whether it's a smart fuelling station in Mumbai or an AI-driven oil rig in Gujarat, MSMEs are spearheading a digital transformation that promises to redefine the country’s energy future and drive sustainability in the Indian economy. The need for digitisation in energy India's energy sector faces several challenges, and the biggest challenge among them is the lack of monitoring and measurement systems. With digitisation, we can unlock multiple opportunities, such as promoting data-driven decision-making, enhanced forecasts and predictive maintenance, reduction in duplicate work, gauging market demand, improving fuel distribution networks, and understanding price fluctuations.

Walmart Vriddhi, the supplier development program of the retail giant, recently announced that it has exceeded its target of training 50,000 micro, small and medium enterprises (MSMEs) across India by December 2024. According to a statement, the program has digitally empowered 58,000 MSMEs providing them cost access to business advice, digital training and personalised mentorship opportunities. The Walmart Vriddhi program was launched in 2019 with Swasti as the program partner. The program was aimed to equip MSMEs with the know-how and tools they need to succeed in supply chains by combining Walmart’s supplier development experience and Flipkart’s platform expertise. Currently, over 14,500 MSMEs are onboarded onto Flipkart.

Abheek Barua, Chief Economist, HDFC Bank, says there is a laundry list of items that need to be addressed before we get on, and climb back onto that 8% to 9% sustainable growth path. We could have a one-off 8% or an 8.5% growth, but that is not what the steady state growth would be. I think the steady state would be closer to 7% to 7.5% in a good year. There has been a very interesting comment made by the RBI Governor recently that India is at the cusp of a structural shift as far as the economy goes and we could be moving towards a sustainable 8% kind of GDP growth. Do you think that 8% growth is sustainable? And is it realistic? And what would it take to achieve that kind of sustainable growth?

Bharti Airtel and Vodafone Idea (Vi) increased mobile tariffs by 11-20% and 10-23%, respectively, to boost average revenue per user (ARPU), a day after Reliance Jio announced higher rates, making this the first wide-ranging headline price increase since November 2021. While Airtel and Jio — which dominate the market — say they need to improve returns after paying high prices for 5G airwaves in 2022, Vi is looking to back up its recent ₹23,000 crore equity fundraising efforts as it strives to become more competitive, stem user losses and repair a stressed balance sheet to pay vendors and statutory dues. Analysts said the three telcos will see a 13-17% rise in ARPU with the main effect being felt in second and third quarters of this fiscal year. Airtel and Vi have been vocal about increasing ARPU at an industry level for a sustainable telecom sector.