Green agenda is no longer an appendage; it is at the heart of business for India Inc. As the climate discourses of last year at the G20 and the UN climate conference in Dubai fuel the climate actions this year, a few touchpoints call for urgent attention from the global community.
Building Green Energy Ecosystems
Renewables will constitute 90 per cent of electric capacity expansion globally between 2022 and 2027, according to the International Energy Agency (IEA). India has announced that it aims to meet 50 per cent of its electricity demands from renewable energy by 2023 and achieve net zero emissions by 2070.
In 2024 alone, India could witness an 83 per cent rise in investments in renewable energy projects to nearly $16.5 billion, according to power ministry estimates. Besides solar and wind energy, India Inc. is focusing on green hydrogen. In January 2023, the cabinet approved the National Green Hydrogen Mission, sanctioning Rs 19,744 crore. In July 2023, the Solar Energy Corporation of India (SECI) announced incentives for annual production of 4,50,000 tonnes of green hydrogen and 1.5-GW electrolyser manufacturing facilities.
Twenty-one firms have bid for incentives for electrolyser manufacturing and 14 for green hydrogen production under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme. Bidders include Adani New Industries, L&T Electrolysers, Bharat Heavy Electricals and Reliance Electrolyser.
Beyond renewables, there is a need to build a solid green ecosystem across hard-to-abate sectors such as oil, gas, aluminium, steel and promote sustainable transportation to cut emissions. India Inc. has committed to it by investing in R&D and innovation.
Mainstreaming Geospatial Technology
Denne historien er fra February 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
SHANKAR PRASAD
C'EST LA VIE - MY FAVOURITE
Star Plus
Actor Keerthy Suresh's talents extend far beyond the silver screen. In a chat with Prachi Khanna, she talks about her growing interest in the world of investments - from real estate to tech to co-owning a cricket team
Shelter From the Storm
Taking care of 500-plus homeless was only the first of the challenges; the 24-year-old social worker has done more since
Saying No to Jugaad
In India, people often rely on a quick-fix approach to manage the daily challenges of taking insulin shots. But a Gen-Z innovator has other ideas
Green Skills Champion
An unexpected career choice was the beginning of efforts to demystify the conversation around climate change and raise awareness
Force of Change
An educator's journey that started in the municipal schools of Andheri West is helping bridge the learning gap among young students
An Appetite for Health
The 'food pharmer' has taken on some of the biggest names in the FMCG sector. His mission: to get consumers to read product labels
More Than Medals
India's success at the Paris Paralympics can inspire a new era of inclusivity
Checkmate
A new generation of chess elite, backed by early mentorship and building on the wins of the previous generation, is cementing India's place at the top
On A Strong Wicket
Team India has had a mixed month but a good year. This was the year Rohit Sharma and his boys brought the T20 World Cup back home
