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<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options.<br /><br />According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions.<br /><br />The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth.<br /><br /><h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India.<br /><br /><h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases.<br /><br /><h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive.<br /><br /><h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity.<br /><br />Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments.<br /><br />The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a><br /><br /><a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms"><strong>Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</strong></a><br />

India's refurbished smartphone market witnesses accelerated growth

A day ahead of the final Budget presentation, India released the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-2024, outlining a plethora of optimistic — and some bittersweet — indicators of the health of the nation’s economy. When you consider the climate-related aspects of the report, there’s a ton of good news: we have achieved massive strides in clean power generation, while cutting out a ton of dirty emissions from our products.<br /><br />However, scroll down to the bottom of the report, and you find a scathing criticism of the “western” approach to climate change. Here's a closer look at why, and what clues do such narratives hold about India's <keyword id="22513472" type="General" weightage="20" keywordseo="environmental-strategy" source="keywords">environmental strategy</keyword> in coming years.<br /><h2>Problems with the “Western way”</h2>The major criticism, as per the survey, is that the Western approach to climate change is far too alarmist. They argue that this “one-size-fits-all” attitude often fails to account for the diverse needs of countries like India. To that end, it also points out that the Intergovernmental Panel on Climate Change (IPCC) promotes "accelerated and equitable mitigation pathways" that don't always align with the developmental priorities of <keyword id="20353838" type="General" weightage="20" keywordseo="developing-nations" source="keywords">developing nations</keyword>.<br /><br />Additionally, the report notes that Western solutions often prioritise market-based strategies to sustain high consumption levels rather than addressing the root issue of overconsumption. The survey emphasises that <keyword id="20224417" type="General" weightage="20" keywordseo="sustainable-living" source="keywords">sustainable living</keyword> is deeply ingrained in <keyword id="19983840" type="General" weightage="20" keywordseo="Indian-culture" source="keywords">Indian culture</keyword>, which contrasts sharply with the consumption-driven lifestyle prevalent in the West. This focus on high consumption misses the mark, as it doesn't consider the environmental impact of such lifestyles.<br /><br />And for the most part, this bit is true; Indian history is enriched with traditions that emphasise the conservation of nature. As <a href="https://onlinelibrary.wiley.com/doi/10.1155/2017/3828609">per estimates</a>, religious practices have preserved an estimated 1.5 lakh sacred groves across India, and natural conservation efforts can be traced back to the time of Ashoka.<br />    <div type="Article" hostid="261" msid="111925936" title="Economic Survey 2023-24: Where does India stand on the employment, and what&amp;#39;s next?" mstype="2" mssubtype="0"></div>Therefore, it may not be entirely inaccurate to say that in India, sustainability isn't a new concept; it's a way of life. Traditional Indian practices like using reusable materials, upcycling, and embracing minimalism have always promoted sustainability. The survey highlights that these practices are now threatened by Western capitalist ideals that equate consumption with progress. By returning to these roots, India can offer a model of sustainability that's both practical and culturally relevant.<br /><h2>Fixation on technical solutions</h2>The Economic Survey also critiques the Western obsession with high-tech solutions, such as solar-powered buildings and electric vehicles. These solutions require substantial financial and infrastructural resources that many developing countries simply don't have. Moreover, they often overlook the broader environmental impact and lifecycle costs associated with urban sprawl and high-density living. Instead, the survey suggests that simpler, more holistic solutions might be more effective and sustainable.<br />    <div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>However, this does not mean that India refuses to embrace greener tech. Not only has the country launched various initiatives to promote energy efficiency and reduce carbon emissions, it also aims to to generate 40% of its energy from non-fossil fuel sources by 2030. As per the report, India is the only G20 country on track to meet the 2°C warming commitment under the Paris Agreement, with significant investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, particularly solar power.<br /><h2><keyword id="20269618" type="General" weightage="20" keywordseo="Mission-LiFE" source="keywords" meta.keywordsubtype="org" meta.entityname="Mission LiFE" meta.hostid="261" meta.entityid="Mission LiFE">Mission LiFE</keyword>: A sustainable initiative</h2>In order to help reinforce and rejuvenate the Indian way, the survey highlights Prime Minister Modi's Lifestyle for Environment initiative, or Mission LiFE. This initiative underscores individual responsibility in combating climate change, drawing from ancient Indian philosophy that advocates for a naturally sustainable lifestyle. By focusing on small, individual actions that collectively lead to significant environmental benefits, Mission LiFE contrasts sharply with the Western top-down policy approach. This grassroots strategy could be key to achieving real, lasting change, the report asserts.<br />    <div type="Article" hostid="261" msid="111927198" title="On the right track — Economic Survey 2023-24 outlines India’s commendable climate action" mstype="2" mssubtype="0"></div>All in all, the report challenges the dominance of Western policies and offers a pathway that could be more adaptable and relevant for other developing nations facing similar challenges. With its ongoing progress towards climate goals, India is well-placed to lead by example, showcasing a sustainable and culturally attuned approach to environmental stewardship.<br />

Why did the latest Economic Survey of India heavily shun the ‘Western ways’ of climate action?

<ul><li>In recent years, Bhumi has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. </li><li>Acknowledging her efforts, the <keyword id="19984049" type="General" weightage="20" keywordseo="UNDP" source="keywords">UNDP</keyword> named her as India's first National Advocate for <keyword id="19950641" type="General" weightage="20" keywordseo="sustainable-development-goals" source="keywords">Sustainable Development Goals</keyword> (SDGs).</li><li>In an exclusive interview with <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword>, <keyword id="19939209" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="keywords">Bhumi Pednekar</keyword> spoke about her struggles with eco-anxiety and her take on the <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword>.</li></ul><br />Lights, camera, Earth!<br /><br /><br />When we first saw Bhumi Pednekar in <em>Dum Laga Ke Haisha </em>in 2015, we witnessed her impressive acting skills and her ability to connect with the audience. With time, she grew into a formidable presence on the Indian cinema landscape, paving the way for socially-aware, yet entertaining filmography.<br /><br /><br />In recent years, this Bollywood superstar has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. In a world where the spotlight often blinds stars to the sufferings of the planet and its people, Bhumi reminds us that every person on this planet needs to keep that spark for eco-consciousness alive.<br /><br /><br />In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety during her early years, her efforts to strike a balance between her professional career and environmental responsibilities, her advice for the younger audience, and her take on the climate action across the globe.<br /><br /><br /><a href="https://www.youtube.com/watch?v=QDxplE0_Os4" data-type="tilCustomLink">Catch the full interview here!</a><br /><br />                <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109502773" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div><br /><br />“When I started my climate journey, it was a very lonely path for me, Every time I spoke about it, people made fun of me. Eventually, through the years, I met like-minded people, and I realised that this is a real problem. Even today, I get really worried, I have bouts of anxiety and go into a spiral that you know, what will happen now and so on. In such times, what truly helps me is to actually do something towards dealing with the problem,” says Bhumi.<br /><br /><br />Acknowledging her efforts to spread awareness on these critical topics, the United Nations Development Programme (UNDP) named her as India's first National Advocate for Sustainable Development Goals (SDGs). Just last month, the World Economic Forum (WEF) recognised her as a Young Global Leader (YGL). On <keyword id="21293562" type="General" weightage="20" keywordseo="Earth-Day" source="keywords">Earth Day</keyword> 2024, she also joined UNDP’s global initiative called the ‘The Weather Kids’ — a global campaign to raise awareness about climate change and drive the world towards taking meaningful climate action.<br /><br /><br />Talking about the campaign Bhumi Pednekar stated, "I’m deeply disturbed by Climate Change and the impact that it is having the world over. I have dedicated my life to working on this and helping raise awareness… I have always been committed to using my platform to raise awareness about the urgency of climate action and to empower individuals and communities to adopt sustainable practices. Together, we can make a difference and create a more sustainable and resilient world for future generations.”<br /><br /><br />Further, Bhumi’s role as a <keyword id="21390874" type="General" weightage="20" keywordseo="climate-warrior" source="keywords">climate warrior</keyword> has also seen her collaborating with activists and institutions nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and climate action. As an ardent advocate for environmental and climate action, she has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices.<br /><br />                <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109503174" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div><br />  <br />“Climate Warrior, which is our nonprofit, is an advocacy platform I started in 2019. The idea was to bring all the work of creating awareness under one umbrella. And then we started the Bhumi Foundation, through which we are again just trying to streamline everything that we do, we have not opened it up for others to come in and work,” said Bhumi, encouraging younger generations to also find their own tribe to influence and drive change.<br /><br /><br />The theme for today’s World Earth Day 2024 is Planet Vs Plastic, and it is time for all of us to gauge our individual and collective impact on our environment and try to reduce it. “One big thing that we can do is to look for and support businesses that are trying to go green and create a positive impact on our planet. If investors support such businesses, and consumers pick such products, our carbon footprint can be lesser,” explains Bhumi.<br /><br /><br />“Every day is Earth Day. This is our only home, there is no alternative, and there is no plan B! The way we show empathy and sympathy towards our loved ones, we should show empathy towards everybody else that we share this planet with. It really breaks my heart when you see on the news that a major city like Bangalore is still witnessing a water crisis and our capital city Delhi has winter days where schools are canceled because of the pollution. We are all in this together, we all are a part of the problem. And we all need to be a part of the solution as well,” concludes Bhumi.<br /><br /><br /><em>Disclaimer: The opinions expressed are of the interviewee and do not necessarily reflect the views of Business Insider India. The excerpts has been partly edited for length and clarity.</em><br />

Earth Day 2024: Actress Bhumi talks about 'Pednekar ke ped', ostrich mentality, climate anxiety and more

Market watchdog SEBI has come out with a consultation paper in a bid to ease the functioning of <keyword id="22476006" type="General" weightage="100" keywordseo="ESG-Rating-Providers" source="keywords">ESG Rating Providers</keyword> (ERPs), pushing for the development of a <keyword id="23760035" type="General" weightage="20" keywordseo="subscriber-pays-model" source="keywords">subscriber-pays model</keyword>. <br /><br />As of July 2024, nine ERPs are registered with SEBI to operate in the country. These include <keyword id="23760037" type="General" weightage="20" keywordseo="CRISIL-ESG-Ratings" source="keywords">CRISIL ESG Ratings</keyword> &amp; Analytics, ESG Risk Assessments and Ratings, GlobeTrend Climate Impact<br />Institutional Investor Advisory Services, <keyword id="23760038" type="General" weightage="20" keywordseo="NSE-Sustainability-Ratings" source="keywords">NSE Sustainability Ratings</keyword> and Analytics, PGS Impact, Pragati Development Consulting, CARE ESG Ratings, and SES ESG Research. <br /><br />Per the paper's proposal, ERPs won't be required to disclose ESG (environmental, social, and governance) ratings to the bourses, provided they confirm that there is no non-public information that could potentially affect the rating. Another proposal was the simultaneous sharing of the ESG rating reports both to the rated companies and to the subscribers who pay to access these reports. <br /><br />ERPs should ensure that rated entities, their group companies, or associates cannot subscribe to their own ESG ratings, SEBI said in its consultation paper. Some of the other suggestions put forth by SEBI include: <br /><br />1. Companies will have a specific timeframe to respond to the ESG report, and any such comments should be included in the report as an addendum. <br /><br />2. In case the ERP does not agree with the remarks issued by the rated company, they can add their comments to the report as well. <br /><br />3. ERPs can rate unlisted issuers or other products, provided they meet specific guidelines from relevant regulators.<br /><br />SEBI is receiving public comment on these proposals until November 15, 2024.<br /><br /><h2>Steady returns </h2>Of the 11 ESG mutual fund schemes available to Indian mutual fund investors, the Quant ESG Equity fund has generated the highest returns of about 45.44% over one year, data from ValueResearch showed. Simply put, had you invested Rs 10,000 every month in this fund for three years, you would have accumulated a corpus of Rs 5,47,525. Over three years, the returns on this fund come to around 26%.<br /><br />This was followed by the ICICI Pru ESG Exclusionary Strategy fund, which yielded 44.73% returns over the same period. However, over ultra-short terms, i.e., 1-3 months, ESG funds have largely delivered negative returns, underscoring their suitability only as a long-term investment avenue. <br /><br />Only the SBI ESG Exclusionary Strategy Direct Fund and Quantum ESG Best In Class Strategy Direct Fund have been around for 5 years, during which they have generated returns of about 16.67% and 18.7%, respectively. <br /><br /><keyword id="23760036" type="General" weightage="20" keywordseo="ESG-mutual-funds" source="keywords">ESG mutual funds</keyword> typically select and invest in companies that are ESG-compliant, i.e., who weave in environmental conversation, social welfare, and robust <keyword id="20392393" type="General" weightage="20" keywordseo="corporate-governance" source="keywords">corporate governance</keyword> practices into their working philosophy and work ethos, while simultaneously generating decent financial returns for stakeholders as well. <br /><br />

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

<ul class="summary-list"><li>A pioneering project in <keyword id="20060502" type="General" weightage="20" keywordseo="Peru" source="keywords">Peru</keyword> is giving $2.30 a day to people in <keyword id="20360813" type="General" weightage="20" keywordseo="indigenous-communities" source="keywords">Indigenous communities</keyword>.</li><li>Reducing poverty removes a lot of the incentives for <keyword id="20657663" type="General" weightage="20" keywordseo="deforestation" source="keywords">deforestation</keyword>, the organizers told BI.</li></ul>Groups backing a basic-income trial in Peru are hoping that unconditional payments to Indigenous communities will help preserve the <keyword id="21095716" type="General" weightage="100" keywordseo="Amazon-rainforest" source="keywords">Amazon rainforest</keyword>.<br /><br />Since November, 188 people living in three Amazonian reserves in central Peru have received <keyword id="21274590" type="General" weightage="20" keywordseo="cash-transfers" source="keywords">cash transfers</keyword> equivalent to 8.6 Peruvian Soles, or about $2.30, a day.<br /><br />The project — developed by climate action NGO <keyword id="23150686" type="General" weightage="20" keywordseo="Cool-Earth" source="keywords" meta.keywordsubtype="org" meta.entityname="Cool Earth" meta.hostid="261" meta.entityid="Cool Earth">Cool Earth</keyword> in conjunction with female-led Indigenous groups — is due to run for two years, with payments totaling about $310,000.<br /><br />  <div type="image" title="Three people of a Peruvian Amazonian community viewed from the knees down, wearing red robes and sandals, as they walk along a dirt track." height="667" width="1000" msid="112744186" hostid="261"></div>The idea is that providing a guaranteed income will remove some of the incentives to become involved in activities that destroy the rainforest.<br /><br />Poverty in these communities is one of the main drivers of deforestation in the region, Isabel Felandro, Cool Earth's head of programs, told Business Insider.<br /><br />"Those communities face a lot of challenges in terms of threats like illegal deforestation that goes on around the territories, drug cartels, illegal mining," Felandro said.<br /><br />They can end up "selling the forest, or engaging in other activities that are not very sustainable because they have this financial worry," she said.<br /><br />Communities are often faced with agonizing decisions, Felandro added.<br /><br />"If you don't have the money to send your kid to a hospital, what do you do?<br /><br /><h2></h2><h2><keyword id="22441332" type="General" weightage="20" keywordseo="basic-income" source="keywords">Basic income</keyword> — for the rainforest</h2>  <div type="image" title="An aerial view of Asháninka territory in the Peruvian Amazon, showing mist-shrouded forest and a cluster of small huts." height="667" width="1000" msid="112744187" hostid="261"></div>$2.30 a day wouldn't go far in the US or Europe.<br /><br />But in these communities, it can have a huge impact, Felandro said. With the income, "a whole family can eat for a day," she said.<br /><br />She added that people have been using the money to complement their diets, or have clubbed together to hire a van to take their kids the long distances to school.<br /><br />Numerous basic-income trials have proliferated worldwide, but most are focused on social and economic outcomes.<br /><a target="_blank" class="" href="https://www.businessinsider.com/universal-basic-income-ubi"></a><br />In the US, cities like <a target="_blank" class="" href="https://www.businessinsider.com/los-angeles-guaranteed-basic-income-pilot-ubi-partner-violence-employment-2024-7"><u>Los Angeles</u></a>, <a target="_blank" href="https://www.businessinsider.com/chicago-basic-income-helped-mother-rent-an-apartment-ubi-gbi2024-5"><u>Chicago</u></a>, Denver, and Atlanta have offered participants direct cash payments, no strings attached.<br /><br />But Cool Earth believes theirs is among the first to aim at a positive <keyword id="20224419" type="General" weightage="20" keywordseo="environmental-impact" source="keywords">environmental impact</keyword>.<br /><br />The NGO has run numerous cash transfer projects over the last 17 years, sending money to communities in the Amazon, New Guinea, and Congo rainforests, who band together to decide how to spend it.<br /><br />But this latest pilot — where every person over the age of 18 receives money independently — is seen as an even more direct way to get money working for the rainforest.<br /><br />  <div type="image" title="A thatched hut in the Peruvian Amazon, surrounded by lush greenery." height="667" width="1000" msid="112744188" hostid="261"></div>The impact and efficacy of basic-income programs are still being investigated, and Johan Oldekop, an academic specializing in the environment and development at the UK's University of Manchester, sounded a note of caution when commenting on this project to The Guardian.<br /><br />Oldekop praised the goal of supporting Indigenous communities, who are leaders in preserving rainforests. But, he added, there is "little and mixed evidence on the environmental effects of cash transfers around the world."<br /><br />Some data shows that these programs can actually lead to deforestation because families can use the cash to expand their agricultural businesses, and chop down trees to do so, he said.<br /><br />Felandro told BI that this is a fair concern, but added that here "the scale is very minor."<br /><br />Families often only have small plots of land that they use primarily to feed themselves. "We're not talking about large-scale production of cacao or coffee," she said.<br /><br />Communities that participated in Cool Earth's prior cash transfer projects saw up to 46% less deforestation compared to similar neighboring communities, Felandro added.<br /><br /><i>Correction: August 28, 2024 — An earlier version of this story incorrectly described the project. It provides basic income to a select group of participants; it is not a universal-basic-income program.</i><br />

A $2.30-a-day basic income trial is trying to save the Amazon rainforest

<keyword id="22948419" type="General" weightage="20" keywordseo="Reflect-Orbital" source="keywords" meta.keywordsubtype="org" meta.entityname="Reflect Orbital" meta.hostid="261" meta.entityid="Reflect Orbital">Reflect Orbital</keyword>, a California-based startup, has set its sights on a futuristic goal: providing "<keyword id="22948420" type="General" weightage="100" keywordseo="sunlight-on-demand" source="keywords">sunlight on demand</keyword>" using orbiting mirrors in space. The company's vision is to address one of the biggest challenges in <keyword id="19915217" type="General" weightage="20" keywordseo="solar-energy" source="keywords">solar energy</keyword> — the inability to generate power after sunset or during cloudy days — by using a fleet of <keyword id="20279522" type="General" weightage="20" keywordseo="small-satellites" source="keywords">small satellites</keyword> equipped with highly reflective <keyword id="22948421" type="General" weightage="20" keywordseo="Mylar-mirrors" source="keywords">Mylar mirrors</keyword>.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">How the technology works</h3>Reflect Orbital plans to deploy 57 small satellites into low-Earth orbit. Each satellite will be outfitted with a 33-square-foot reflective Mylar mirror. These mirrors are designed to reflect sunlight down to Earth, targeting <keyword id="20658734" type="General" weightage="20" keywordseo="solar-farms" source="keywords">solar farms</keyword> and extending their operational hours by providing an extra 30 minutes of sunlight after sunset or before sunrise. The mirrors will focus sunlight into a concentrated beam, directed by solar farm operators using a simple interface, where users can log in, provide GPS coordinates, and request sunlight.<br /><div type="twitter" handle="bennbuilds" handlename="bennbuilds" favoritecount="0" retweetcount="0" id="1826682383514697993"></div>The idea is to make solar energy more available when it’s most needed — not just during daylight hours, but also in the early morning and evening when electricity demand is typically higher. This could potentially increase the efficiency and profitability of <keyword id="20423867" type="General" weightage="20" keywordseo="solar-power-generation" source="keywords">solar power generation</keyword>, as energy produced during these periods can be sold at higher rates.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Potential challenges</h3>Despite the excitement around this technology, there are several challenges that Reflect Orbital will need to overcome. Weather conditions such as thick clouds or storms could obstruct the reflected sunlight, limiting its effectiveness. Seasonal changes that affect the angle and duration of sunlight might also present difficulties. Additionally, the potential environmental impact, including light pollution and interference with astronomical observations, has raised concerns among scientists and environmentalists.<br /><div type="Article" hostid="261" msid="112805908" title="How will Sunita Williams’ body have changed when she returns from space in February 2025?" mstype="2" mssubtype="0"></div>Reflect Orbital is aware of these challenges and has designed the mirrors to minimise light pollution. The company has also tested its technology using a hot air balloon, which successfully simulated the satellite mirrors' effect by reflecting sunlight down to a solar farm. According to co-founder <keyword id="22948422" type="General" weightage="20" keywordseo="ben-nowack" source="keywords">Ben Nowack</keyword>, the company was able to generate "500 watts of energy per square metre" of solar panel, which is about "half the brightness of the sun."<br /><div type="twitter" handle="bennbuilds" handlename="bennbuilds" favoritecount="0" retweetcount="0" id="1767961251186163857"></div>Reflect Orbital is still in the early stages, with plans to launch its first test satellite in 2025. Interest in the project has been strong, with over 30,000 applications already submitted by individuals and organisations eager to participate in the initial offering of "sunlight on demand."<br /><br />This ambitious project could mark a significant step forward in renewable energy technology if successful, providing a novel solution to the intermittent nature of solar power and helping to accelerate the transition to <keyword id="21313059" type="General" weightage="20" keywordseo="sustainable-energy-sources" source="keywords">sustainable energy sources</keyword>.<br />

Space startup Reflect Orbital plans to sell "sunlight on demand" — how will it work?

Over 60 per cent of businesses surveyed are "off track" to meet their <keyword id="49089" type="General" weightage="20" keywordseo="sustainability" source="Orion">sustainability</keyword> goals, according to a report by Bain &amp; Company, which also found that <keyword id="60468" type="General" weightage="20" keywordseo="consumers" source="Orion">consumers</keyword> are willing to shell out a premium for sustainable products. According to the report, a large number of people surveyed in India say they have a high level of concern about environment sustainability. This could be driven by the spiking levels of <keyword id="13001" type="General" weightage="20" keywordseo="pollution" source="Orion">pollution</keyword> in major cities and the rising incidence of flash floods in different parts of the country. <br /><br /> Consumers in fast-growing markets, where Bain found <keyword id="6422456" type="General" weightage="20" keywordseo="environmental" source="Orion">environmental</keyword> concerns to be highest, including India, were willing to pay a greater premium (between 15 and 20 per cent), compared to markets like the US and the UK. <br /><br /> The report further said that an Indian consumer, however, is still at an early stage of understanding sustainability and a number of related behaviours are influenced by cultural norms and <keyword id="44477" type="General" weightage="20" keywordseo="financial" source="Orion">financial</keyword> realities. <br /><br /> "As extreme weather prompts growing environmental concern across the globe, new research from Bain &amp; Company shows more than 60 per cent of businesses are off track to meet their current sustainability goals," it said. <br /><br /> Progress will require a combination of technology, policy, and behaviour change, the report said, adding that an increasingly conscious base of consumers and employees may prove helpful. <br /><br /> To get a broad sense of environmental concerns around the world, Bain surveyed 23,000 consumers, and the results underscored the growing urgency of sustainability topics. <br /><br /> Almost 64 per cent of people reported high levels of concern about sustainability, and most said their worries have intensified over the past two years and that their concern was first prompted by extreme weather. <br /><br /> The report also revealed that a large number of people surveyed in India said they have a high level of concern about environment sustainability. <br /><br /> "They are seemingly driven to live or shop sustainably first and foremost by direct benefits around savings and health rather than environmental concern. Consumers express a greater interest in quality, how a product can be reused, its durability, and how it will minimise waste," it said. <br /><br /> Karan Singh, Partner and head of the Asia Pacific Sustainability practice at Bain &amp; Company, said while Indian consumers show growing interest in sustainability, there's a noticeable gap between intent and action, mainly due to factors like high prices, limited product information and availability. <br /><br /> "This presents a distinct opportunity for businesses to take the lead by educating consumers and innovating to offer sustainable products at attractive prices," Singh said. <br /><br /> Consumers' willingness to pay a premium for sustainable products and baby boomers being just as concerned as Gen Z, were the other key takeaways from the report. <br /><br /> "As concerns grow, consumers are looking to make environmentally sound choices and are willing to pay more for sustainable products. Yet, they often run into barriers," it said. <br /><br /> For instance, consumers in the US are willing to pay an average premium of 11 per cent for products with a minimised environmental impact, even as the average premium for products marketed as sustainable there is 28 per cent. <br /><br /> "Consumers in fast-growing markets, where Bain found environmental concerns to be highest - such as India, Indonesia, Brazil, and China - are willing to pay an even greater premium, between 15 and 20 per cent. Consumers in the UK, Italy, Germany, and France, on the other hand, are only willing to pay between 8 and 10 per cent extra," the report said.

60 pc of businesses 'off track' to meet sustainability goals: Bain & Company report

On Monday, July 22, Finance Minister <keyword id="22504403" type="General" weightage="20" keywordseo="nirmal-sitharaman" source="keywords">Nirmal Sitharaman</keyword> tabled the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-24 in the parliament ahead of the much-awaited budget 2024 tomorrow. In addition to a socio-economic stock take, the comprehensive report also outlines the strides India has made on the environment and climate fronts last year.<br /><br />India is in a weird grey area when the climate blame-game is concerned. We continue to average some of the lowest per capita CO2 emissions in the world. But, being the most-populous country in the world, these small bits add up to make India the third-largest emitter of CO2 in the world, after China and the United States.<br /><div type="Article" hostid="261" msid="111923746" title="Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development" mstype="2" mssubtype="0"></div>However, this is not to say that the country has been sitting the green transition out either. As highlighted in the Economic Survey, India has been making notable strides in tackling climate change and promoting <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword> — efforts that will be crucial to protect billions in the coming years and decades. Let's take a look at these efforts and compare them with findings from other recent environmental reports to see the full picture.<br /><h2><keyword id="21818512" type="General" weightage="20" keywordseo="emission-intensity" source="keywords">Emission intensity</keyword> reduction</h2>The economic survey proudly states that India has reduced the emission intensity of its GDP by 33% from 2005 levels by 2019. This means the country is producing less greenhouse gas for every unit of economic activity.<br /><br />This is a commendable achievement because India’s original climate change target — or Nationally Determined Contribution — was set to precisely 33% reduction of emission intensity by 2030, before being revised to 45% in 2022. While the jump from 33% to 45% is still a significant one with barely half a decade to go, this progress is a clear sign that India’s climate policies are having a real impact.<br /><h2><keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">Renewable energy</keyword> capacity</h2>According to the economic survey, 45.4% of India’s installed electricity generation capacity — which includes solar, wind, and hydropower — now comes from non-fossil sources, as of May 31, 2024. <br /><div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>As per reports by the Ministry of New &amp; Renewable Energy, India added a record renewable energy capacity of 18.48 GW in 2023-2024, with solar installations amounting to 12.78 GW, followed by 2.27 GW of wind energy. However, industry experts have also noted that India Inc. cannot afford to run out of steam now, and must continue to add at least 50 GW for the next six years to meet the target of 500 GW of renewables by 2030.<br /><h2>Indian energy needs</h2>India's energy needs are expected to grow 2 to 2.5 times by 2047, as per the latest economic survey. This necessitates a balanced approach to <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword> that considers resource limitations and the need for resilience to climate change.<br /><br />India has suffered from an overdependence on coal and fossil fuels in the past, accounting for around 75% of total energy generation in 2021, as per the Energy Information Administration. However, this number has been quickly falling, even dropping below a historic 50% in Q1 2024.<br /><h2>Sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword></h2>To fund green projects, India issued Rs 16,000 Crore in sovereign green bonds — financial instruments that support green projects at lower capital costs — in early 2023 and another Rs 20,000 Crore later in the year, the economic survey reports. As per the government, these proceeds were utilised in many eco-friendly projects, such as New and Renewable Energy, Environment, Forests and Climate Change, Housing and Urban Affairs, Railways. To widen the investor base, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) also recently permitted eligible foreign investors to invest in such bonds.<br /><h2>Mission LiFE and Green Credit Programme</h2>The survey also talks extensively about Mission LiFE (Lifestyle for Environment), which promotes sustainable living, and the Green Credit Programme (GCP), which incentivises eco-friendly actions by offering “green credits”.<br /><br />In the past few months, Madhya Pradesh, Telangana and a few other states have reportedly approved thousands of hectares of degraded forest land for greening exercises as part of the GCP.<br /><h2>International initiatives</h2>India has spearheaded several international initiatives such as the International Solar Alliance (ISA), One World, One Sun, One Grid (OSOWOG), the Coalition for Disaster Resilient Infrastructure (CDRI), the Infrastructure for Resilient Island States’ (IRIS) and the Leadership Group for Industry Transition (LeadIT). Hundreds of nations are signed up for these climate coalitions and our participation will help reflect India's commitment to advancing global <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword> and fostering international cooperation in sustainable development.<br /><div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div>The report even notes that India is currently the only G20 nation who is set not to cross the 2°C warming threshold. All in all, India’s economic survey and environmental reports together show a nation making impressive progress in combating climate change and advancing sustainability. These achievements will hopefully set a strong example for other countries to follow.<br />

On the right track — Economic Survey 2023-24 outlines India’s commendable climate action

Imagine taking your date out one night in hopes of dazzling them with your astronomy rizz and naming every constellation in the sky — sounds super romantic, no? Except, a long, hard look at the sky through your telescope, unravels patterns unlike any constellations you’ve ever seen since childhood. It then dawns on you that those aren’t star clusters, but human-made garbage — quite a bit of it, in fact.<br /><br />Humanity has had a tradition of leaving its mark wherever it went for a long time now. The only difference is that while early human ancestors left some harmless wall art in the caves they inhabited, leaving a trail of trash is more our style. And sadly, space hasn’t been spared either.<br /><br />Over 160 million pieces of human-made debris clutter Earth's orbit, whizzing around at speeds of 15 kilometres per second! Even a tiny piece can wreak havoc, potentially destroying <keyword id="19977109" type="General" weightage="20" keywordseo="satellites" source="keywords">satellites</keyword> critical for our daily lives. This space junk jeopardises everything from <keyword id="21708436" type="General" weightage="20" keywordseo="GPS-navigation" source="keywords">GPS navigation</keyword> to internet access, financial services, and even monitoring <keyword id="21201859" type="General" weightage="20" keywordseo="environmental-disasters" source="keywords">environmental disasters</keyword>.<br /><br />Enter <a href="https://spacetrashsigns.org/">Space Trash Signs</a>, a groundbreaking initiative raising awareness about this invisible threat. Launched by a coalition of <keyword id="21118038" type="General" weightage="20" keywordseo="aerospace-companies" source="keywords">aerospace companies</keyword>, scientists, and artists, <keyword id="21708435" type="General" weightage="20" keywordseo="Space-Trash-Signs" source="keywords">Space Trash Signs</keyword> uses a unique approach: constellations made entirely of <keyword id="943402" type="General" weightage="20" keywordseo="space-debris" source="Orion">space debris</keyword>!<br /><br />The company wanted to make space debris tangible for the public and educate them about the daily life consequences. Constellations were created as a way of mapping and understanding the stars in the night sky. This served as inspiration to propose the same for space debris.<br /><br />Each of these ten "trash constellations" represent a different consequence of space pollution. "The Broken Compass" warns of losing GPS, impacting billions and crippling modern aviation. "The Great 404" signifies limited internet access, potentially isolating entire communities. "The <keyword id="21708438" type="General" weightage="20" keywordseo="lost-harvest" source="keywords">Lost Harvest</keyword>" highlights the danger to vital environmental data collected by satellites, data that helps prevent famines and environmental disasters.<br /><br />Spotting space junk isn’t possible for the common man even though there is so much of it because they do not emit light and aren’t nearly as massive as stars. But <keyword id="21708437" type="General" weightage="20" keywordseo="space-trash" source="keywords">Space Trash</keyword> Signs builds on our natural fascination with the fiery bodies, says Alex Schill, Chief Creative Officer at Serviceplan Group. It serves as a powerful way to educate people about a critical issue that affects us all.<br /><br />However, Space Trash Signs isn't just about grabbing attention. The constellations are built using real-time data from <keyword id="21555945" type="General" weightage="20" keywordseo="Privateer" source="keywords" meta.keywordsubtype="org" meta.entityname="Privateer" meta.hostid="261" meta.entityid="Privateer">Privateer</keyword>, a space observation company co-founded by Steve Wozniak. This data pinpoints the location, size, and even origin of each piece of debris. For example, "The Lost Harvest" appears over the Amazon rainforest, highlighting the threat to this biodiverse region.<br /><br />The initiative doesn't stop there. Space Trash Signs come alive in over 700 planetariums worldwide, offering an immersive experience. They're also integrated into popular AR stargazing apps, bringing the issue directly to the fingertips.<br /><br />A clever digital campaign further emphasises the consequences. Imagine encountering staged website errors, failed parcel tracking, or missing weather forecasts. These seemingly random glitches all lead to the Space Trash Signs website, where you can learn more, explore the constellations, and even take action.<br /><br />“There are some internationally agreed upon guidelines on debris clean-up and prevention. But none of these mechanisms has enforceability. If we don’t change our behavior, space will become unusable,” says chief scientist Dr Moriba Jah, Privateer.<br /><br />Space Trash Signs is a growing movement, uniting a diverse group of organisations and individuals under the banner of a clean and sustainable space future.<br />

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