Sustainability Financial News

Avaana Capital, an early-stage investment firm that has backed startups in the consumer, food and agri sectors, has made the final close of its dedicated climate and sustainability-focused fund at $135 million. The firm which was initially targeting to raise $100-125 million had made the first close of this fund at $70 million in June last year. Through this specialised fund, Avaana Capital plans to invest in 20-25 early-stage companies. The average first cheque size will range from Rs 10 crore to Rs 30 crore, and it plans to double down on successful investments.

Over 70% of transport-related greenhouse gas emissions come from road vehicles, with passenger cars contributing nearly half. So, it's essential for cities to invest in sustainable public transport systems that encourage people to rely less on their cars. European Investment Bank (EIB) is a key partner in this transformation of urban mobility. By financing the development of six modern metro systems in Agra, Bengaluru, Bhopal, Kanpur, Lucknow and Pune, EIB is helping to create more sustainable, accessible and cleaner transport options. To date, EIB has committed ₹30,225 cr to urban mobility in India, its largest investment in this sector outside of Europe.

G Kishan Reddy, is a necessary step accompanying the country's recent foray into commercial mining that offers a means to reduce its energy import dependency. India needs access to all available energy sources to sustain a high economic growth rate. Given its coal reserves and demand for electricity, the industry must become more market-oriented to draw the required investment.

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Loan portfolio of microlenders reduced by 2.3 per cent quarter-on-quarter to Rs 4.32 lakh crore in April-June while NPAs surged, a report said. Notably, for the last few months, microfinance institutions, banks and small finance banks which extend MFI loans, have been reporting challenges on this portfolio, and the regulator has also flagged the same. Over-leveraging among the borrowers is being flagged as a key aspect, impacting asset quality. The report by Crif High Mark, a credit information company said, there was 17.2 per cent increase in the borrowers having more than five active loan accounts in June when compared with the year-ago period, with highest growth seen in West Bengal and Karnataka.

“Digital will be one of the competitive advantages for Air India. We want to be the most technologically advanced airline in the world,” Satya Ramawamy, Chief Digital and Technology Officer at Air India. The airline, which lacked any modern technology in its daily functioning before privatisation, has invested heavily to upgrade its digital capabilities including investing in artificial intelligence.

West Bengal has immense growth potential in the carbon black industry as the sector is expected to witness increasing demand from the electric vehicle (EV) market and battery manufacturing, an official said on Tuesday. Speaking at the Asia Pacific Carbon Black Conference, state Chief Secretary Manoj Pant highlighted the projected compound annual growth rate (CAGR) of 4.8 per cent for the sector over the next decade and invited industrialists to invest in the state's emerging industrial landscape. «There is tremendous potential for growth in this industry, particularly as EV demand rises and carbon black becomes integral to both tyres and battery components,» Pant said. He reaffirmed the government's commitment to fostering industrial growth and attracting investments while emphasising ongoing efforts to improve infrastructure and streamline policies to create a business-friendly environment.

Navy Vice Chief Vice Admiral Krishna Swaminathan on Tuesday said the naval force was happy to learn about India and China reaching an agreement on patrolling along the LAC in eastern Ladakh as he underlined that in national security issues, it is «not easy» to come to any kind of a settlement. He said this during a media interaction held at Kota House ahead of the third edition of Navy's flagship seminar Swavlamban. His remarks came a day after India announced that it has reached an agreement with China on patrolling along the LAC in eastern Ladakh.

Sridhar Vembu, CEO of Zoho, recently took to social media to highlight the devastating impact of alcohol addiction on families in rural India, particularly in the southern regions. Through a video post, Vembu shared the story of a sanitation worker in Tenkasi who is struggling to support her family while grappling with the consequences of her sons' alcohol addiction. Her plight, Vembu noted, is representative of the many women he encounters during his travels across rural areas. These women, often the primary breadwinners, are burdened with the stress of sustaining their families in the face of addiction and neglect. Vembu emphasized the need for a mass movement to address alcohol abuse, warning that many women are at a breaking point. «We need a mass movement against alcohol — these women are reaching a breaking point,» he said in a post.

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Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows. Stocks that were in focus include names like Manappuram Finance, which rose 4.55%, Raymond Lifestyles, which gained 2.2%, and 360 One Wam, whose shares jumped 3.3% on Monday.

Biltmore Estate after the deadly Hurricane Helene devastated North Carolina in September, forcing the closure of one of the area's most popular tourist attractions. The Biltmore Estate will re-open on November 2, Saturday, the company said in an official press release. The historic 8,000-acre estate in the Blue Ridge Mountains Biltmore estate sustained varying degrees of storm damage when Hurricane Helene ripped through western North Carolina, bringing unprecedented flooding and destructive winds to the area, reported Fox Business. Biltmore Estate is one of the largest and most historic attractions in Asheville and has been shut since Helene battered the western Carolinas as a tropical storm. ALSO READ: How Helene became the near-perfect storm to bring widespread destruction across the South

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Silver touched a historic high of Rs 1 lakh per kg with a Goods & Services Tax (GST) of 3 per cent in the physical market on Monday, up by almost Rs 5,000 per kg from Friday. “Prices may soon touch Rs 1.25 lakh per kg. Silver, the poor man’s gold, is on a bull run as industrial demand of the metal is on the rise. Also the rising gold prices is impacting the price rally of silver,” said Prithviraj Kothari, president of India Bullion & Jewellers Association (IBJA). Jateen Trivedi, VP Research Analyst- Commodity & Currency at LKP Securities said "Silver prices have gained strong upward momentum, with physical market prices surpassing Rs 100,000 per kg in India. As gold prices soar, retail buyers are increasingly turning to silver, viewing it as a relatively cheaper alternative at these levels, especially with gold now touching ?78,000 for 10 grams. The rise in silver is being driven not only by its appeal as a more affordable precious metal but also by increasing demand from the electric vehicle (EV) sector and photovoltaic applications, which is expected to sustain global demand in the medium to long term.”

The introduction of the Special Care Gold policy in Braille is a significant move towards democratising access to health insurance. In a country where approximately 34 million individuals are visually- impaired, making critical information accessible in Braille empowers them to make decisions independently.

The underlying trend of Nifty remains weak within range movement. Having failed to sustain the recent upside bounce, the market could revisit the lower range of 24,600-24,500 levels in the near term. Immediate resistance is at 25,000 levels, said Nagaraj Shetti of HDFC Securities.

Lieutenant Governor Manoj Sinha on Monday said security forces will avenge the construction workers' death in the brutal attack in Ganderbal, and «exact a price» that the terrorists will remember for the time to come. Sinha called for justice to the victims as he blamed Pakistan for «still trying to kill innocent people» in the region to disrupt peace. Seven persons including a local doctor and six non-local labourers were killed while five others sustained injuries in a terror attack at an under-construction tunnel at Gund in Ganderbal district. In a post on X, Sinha said, «The brutal and savage attack against construction workers will be avenged. I've asked the J&K Police, security forces to exact a price that will be remembered by the terrorists and their associates for time to come.»

Chair of ESMA, Verena Ross, told the Financial Times that an effective regulatory and supervisory framework is lacking within the EU and therefore «is one of the areas that we need to focus on».  Ross made the case for a sector-by-sector analysis to «evaluate in which areas it would make sense to move a step further to central EU supervision».  European watchdogs call for overhaul of sustainable labels in SFDR review «We need to look particularly at all the cross-border systematically important infrastructure players,» the ESMA chair added, a measure that would include exchanges an...

Germany is focusing on attracting skilled workers from India, following new migration measures recently approved by Chancellor Olaf Scholz’s Cabinet. The move aims to streamline immigration processes and support the integration of Indian workers, addressing the critical workforce gaps caused by an ageing population. Germany, known for having the strongest economy in the European Union, faces increasing pressure to secure skilled labour to maintain economic momentum. Hubertus Heil, the German Labour Minister, emphasized India’s importance, saying, «Germany views India as an especially important partner when it comes to the issue of skilled labour migration.» The newly approved migration framework underscores the deepening economic relationship between Germany and India. With a focus on long-term economic sustainability, the German government aims to attract qualified Indian professionals across various sectors to address workforce gaps.

Subscribe to enjoy similar stories. In 1969, Neil Armstrong took his historic step onto the lunar surface and declared, “That’s one small step for man, one giant leap for mankind." This profound moment not only marked humanity’s first journey to another celestial body, but a new era of space exploration that inspired generations. A few days ago, when SpaceX in an unprecedented ‘chopsticks’ manoeuvre caught a rocket’s massive booster stage as it descended back to Earth, CEO Elon Musk tweeted: “Big step towards making life multiplanetary was made today." Just as Armstrong’s Moon landing signified a huge leap for mankind, SpaceX’s advancements symbolize humanity’s re-defined relationship with the cosmos.

sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks. But the International Monetary Fund and others worry that a dangerous liquidity shortfall could take its place in many emerging economies — setting back development, stunting climate change mitigation and fuelling distrust in governments and Western institutions. The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.