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
Bu hikaye Outlook Business dergisinin February 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Business dergisinin February 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
