Sustainability Financial News

airlines’ biggest trade group implored oil producers to make more low-emissions aviation fuel, warning the future of commercial air travel depends on the industry’s successful decarbonization. Sustainable aviation fuel is the best available tool for cutting emissions, International Air Transport Association Director General Willie Walsh said at an aviation summit in Singapore Monday. Demand for the cleaner-burning fuel far outstrips supply, even though it can cost three to five times more than conventional jet fuel. “Every bit of fuel that gets produced would be used because this is an existential issue,” Walsh said. “This industry will not be allowed to grow unless we can prove to our customers, regulators, governments, people in general, that we can grow in a sustainable manner.”

JSW Steel: The steelmaker is in talks to pick up a 20% stake in Australia’s Blackwater coal mine from Whitehaven Coal for around $1 billion, said two people aware of the discussions. The companies are yet to decide on the final valuation.

As we welcome the year 2024, it’s important to recognise its unique significance in the global political landscape. This year marks a pivotal moment, as 50 nations, including key players like the United States, United Kingdom, Russia, South Africa, and India, embark on the critical process of electing new governments. The democratic exercise of elections not only embodies the foundational principles of democracy but also exerts a profound influence on the corporate sector. The stability and predictability offered by consistent governmental policies are indispensable for fostering long-term economic growth.

Balrampur Chini Mills Limited (BCML), a leading integrated sugar mill company on Monday announced a Rs 2000 crore forward integration project which will be the first-ever "industrial bioplastic" plant in India. The Kolkata-based company said this diversification with its upcoming PLA (Polylactic Acid) manufacturing venture is well-aligned with the sustainability goals envisioned in India, to combat climate change. «The new project aims to propel India towards net zero emissions by 2070 with an estimated investment of Rs 2,000 crore in phases over the next 30 months,» Balrampur Chini Executive Director Avantika Saraogi said. «Expected to be completed within 30 months, the new venture will mark the establishment of the first-ever industrial bioplastic plant in India. The state-of-the-art PLA factory will command a whopping capacity at a global scale of 75'000 tonne per annum,» the company said.

Tabadlab, a think tank based in Islamabad, presents a grim outlook on Pakistan's economic condition, characterizing its debt situation as an «intense blaze» and significantly more severe than the International Monetary Fund's evaluation of being «close to» manageable. With debt levels reaching alarming highs, Pakistan faces the grim prospect of an «inevitable default,» which could trigger a devastating economic spiral.

We're incredibly excited to unveil the MOKUZAI Sustainable Collection. It reflects our deep-rooted values, such as sustainability, craftsmanship, and innovation. Each pair tells a story of dedication, from the careful sourcing of eco-conscious materials to the meticulous handcrafting process. With MOKUZAI Sunglasses, we're not just offering stylish eyewear; we're inviting you to be part of a movement towards a more sustainable future where fashion and responsibility go hand in hand." The ethos of OKNO Sunglasses is grounded in sustainability, and the Mokuzai Sunglasses exemplify this commitment.

A passenger jet with 106 people on board had to return to the Belgrade airport after it hit runway equipment and sustained severe damage shortly after takeoff from the Serbian capital

Economist Peter Morici breaks down what the national debt is, why it ballooned to more than $34 trillion and what it means for Americans.

Retirement planning has become a crucial consideration for individuals in the ever-changing Indian landscape. With demographic shifts and an ageing population, strategic retirement planning holds even greater importance. To assist these individuals, the State Bank of India (SBI) offers a scheme for reverse mortgage loans so that they can sustain themselves financially. Through this scheme, the bank offers payments to borrowers in exchange for the mortgage of their residential property.

Stalin said that the revised estimate for 2023-24 was also higher than the budget estimates for the same year which was pegged at Rs 37,540 crore. Thangam Thennarasu, who replaced PTR Palanivel Thiagarajan as the state's Finance Minister last year, presented his maiden paperless, e-budget which he said was aimed at achieving the 'Tamil dream' through seven objectives — social justice, welfare of the marginalized, transforming young Tamils as global achievers, knowledge based economy, equality focused on welfare of women, sustainable green future and Tamil language and culture. «The revenue expenditure is estimated at Rs. 3,48,288.72 crore in Budget Estimates 2024-25 which shows an increase of 9.70 per cent over revised estimates for 2023-24,» he said. «The revenue expenditure is estimated to be Rs. 3,59,949.99 crore in 2025-26 and Rs. 3,89,005.49 crore in 2026-27.»

Hindalco Industries is putting a major thrust into its sustainability projects as the company expects to realize the first phase of its interim green house gas (GHG) reduction target by a couple of years before 2030, said Satish Pai, managing director of the company. Hindalco Industries, through the successful completion of phase one of the pumped hydro project, plans to achieve 30% of its energy mix from renewable sources by 2030.

BEIJING (Reuters) -Tourism revenues in China during the Lunar New Year holidays that ended on Saturday surged by 47.3% year-on-year and surpassed 2019 levels, thanks to a domestic travel boom amid a longer-than-usual break, official data showed on Sunday.

BSE PSU index has soared over 97 percent in the last 1 year and over 22 percent in 2024 YTD. Just in Feb, the index has advanced 10 percent, extending gains for the fourth straight session. Before this, it rose 11.2 percent in January 2024, 15.3 percent in December 2023 and 10.3 percent in November 2023.

India requires long-term effort, a senior US scientist has said and noted cost-intensive technologies such as smog towers and cloud seeding are not sustainable solutions to the pollution problem plaguing the country. In an interview with PTI, Richard Peltier, a member of the World Health Organization's (WHO) Global Air Pollution and Health Technical Advisory Group, said there is a good understanding that air pollution is «really quite bad» across India but precision is lacking due to the limited distribution of air pollution monitors. When asked how much time is needed to control air pollution in cities such as Delhi, he cited the example of the US. The US implemented the Clean Air Act in the 1960s, Peltier said and added only recently has the country developed air quality that is generally considered good.

By Prakash Krishnamoorthy

Retirement is a significant milestone in life, marking the transition from active work life to a period of leisure and relaxation. However, to ensure a financially secure and fulfilling retirement, it’s essential to engage in meticulous retirement planning. This process involves assessing your financial situation, setting retirement goals, and implementing strategies to achieve them.

“Renewal and green energy investment are two focus areas of the government. The share of renewal in the overall energy pie is only going to increase going forward, not only in India but across the world,” says Sachin Bajaj, Executive Vice President & Head – Investments, Max Life. In an interview with ETMarkets, Bajaj said: “Fiscal consolidation, continuation of capex growth, focus on energy transition, housing, tourism, healthcare, and railways are the key themes from the Budget,” Edited excerpts: Rs 11.11 lakh cr – a number which has caught the eye of many. What do you make of the current outlay and the impact it will have on the economy? Sachin Bajaj: Rs 11.11 lakh crore is the capital expenditure target for the next fiscal year. While the growth of 17% for FY25 looks a bit lower when compared to the current financial year, however, if we look at the capex for FY21, the same number was Rs 4.1 lakh crore, i.e., almost a 3x increase in 4 years.

Nifty could reach 22,500 if it maintains levels above 21,800. Alternatively, support is seen at 21,600 levels, according to technical analysts. They note positive setups in various stocks, including Maruti, TVS Motor, ACC, Biocon, Tata Motors, M&M,Persistent, Ambuja Cements, Adani Ports, Federal Bank, Trent, and Indian Hotels.

Amidst a surge of activity, Bonk price has become a focal point for traders, as its price hovers at $0.000013 and trading volumes soar.

New Delhi: The textile industry is moving to shed its polluter tag by adopting a ‘circular economy’ in order to avoid being snared by future climate change tax regimes such as the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM), two persons aware of the plans said. CBAM will tax the ‘embedded carbon’ in imports from select emission-intensive sectors—steel, aluminium, cement, hydrogen, electricity and fertilizers. It is expected to be implemented in 2026.

₹7.41 crore in fines for allegedly making “unlawful gains" by taking the opposite positions in the market from the ones they promoted on air. Varshney said, “If we see that on a television channel, guest experts are giving advice to manipulate the market we will of course enter the picture, but it is the responsibility of the TV channel to see whether their guest experts are giving advice in a transparent manner or there is some manipulation going on.