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New Delhi: Shares of <keyword id="20599931" type="General" weightage="100" keywordseo="NTPC-Green-Energy" source="keywords">NTPC Green Energy</keyword> Ltd, the <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> arm of <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword>, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday. The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40. At the NSE, it listed at Rs 111.50, up 3.24 per cent. The company's market valuation stood at Rs 1,02,211.38 crore during the morning trade. Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE. The <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday. The Rs 10,000-crore share sale had a price band of Rs 102-108 per share. Proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes. NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy shares debut with over 3% premium

How Madison, Wisconsin, is accelerating climate action with renewable energy, recycling, and green job initiatives

<ul class="summary-list"><li>The next bubble in the stock market could form around the <keyword id="6355671" type="UNKNOWN" weightage="60" keywordseo="green">green</keyword> infrastructure theme, says Schwab.</li><li><keyword id="1078290" type="PERSON" weightage="60" keywordseo="green-stocks">Green stocks</keyword> could benefit from proposed climate and <keyword id="6357014" type="ORGANIZATION" weightage="60" keywordseo="energy">energy</keyword> legislation in the US, Europe, and China.</li><li>"All these green initiatives are supported by substantial funding plans," a Schwab strategist said.</li></ul>The next bubble in the stock market could form around stocks tied to green infrastructure, which could be inflated by recently proposed climate and energy plans in the US, Europe, and China, according to <keyword id="149621" type="COMPANY" weightage="60" keywordseo="Charles-Schwab">Charles Schwab</keyword>. "All these green initiatives are supported by substantial funding plans," Jeff Kleintop, the bank's chief global investment strategist, said in a recent note. "The scope of the initiatives is bold and includes wide-ranging goals."In the US, these include the country's push to modernize the aging electrical grid and the goal to shift to zero-emission vehicles by giving Americans tax credits for buying them, incentivizing electric car manufacturing, and increasing the availability of vehicle charging infrastructure. Strides to transition to <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">renewable energy</keyword> are also in the works from giving tax incentives to businesses to deploy renewable energies and to regular consumers to reduce carbon use.In Europe, initiatives range from modernizing industries like steel, chemicals, and cement, to promoting smart technologies that support a shift from road freight to rail and waterway freight.In China, plans include new infrastructure, wider use of renewable energy, and cutting the production capacity of resource-intensive industries. The chief strategist also warned that green stocks may inflate on the back of President Joe Biden's <a href="https://www.businessinsider.com/what-bidens-2-trillion-infrastructure-plan-means-for-you-2021-4">massive infrastructure plan</a>.One thing to note, he said, is that unlike a normal bubble-concentrated in one sector and one country-a green stock bubble spans many sectors and <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> around the world."Green stocks go beyond merely alternative energy companies," Kleintop said. "The green infrastructure theme also includes traditional industries such as industrial machinery, electric utilities, semiconductors, and electrical equipment, among many others."Publicly traded companies in green infrastructure, he said, also hail from dozens of developed and emerging market countries.Kleintop said bubbles are typically hard to identify as they unfold, the specific set of conditions in the current market characterize the start of bubbles forming. "Investment bubbles often begin as a natural byproduct of extremely stimulative policies enacted in the wake of global recessions," he said. "They are born of easy money, grow on speculation fueled by a strong fundamental theme and high investor confidence, and collapse as money tightens, usually well after disconnecting from intrinsic value.

Green infrastructure could be the next bubble as the world shifts to alternative energy, Schwab says

<ul><li><keyword id="2488440" type="PERSON" weightage="60" keywordseo="Activist-Investor">Activist investor</keyword> Engine No. 1 was victorious in winning at least two board seats on <keyword id="46107" type="CITY" weightage="60" keywordseo="Exxon-Mobil">Exxon Mobil</keyword>'s board of directors.</li><li>The win was historic given that the first time activist investor built a tiny 0.02% stake in the company.</li><li>The proxy fight between the activist investor and <keyword id="6383208" type="ORGANIZATION" weightage="60" keywordseo="exxon">Exxon</keyword> Mobil signals the increased investor attention towards green energy initiatives.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestsource=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</a></li></ul>Activist investor Engine No. 1 scored a historic win on Wednesday after it won two board seats on <a href="https://markets.businessinsider.com/stocks/xom-stock">Exxon Mobil's</a> board of directors.A bitter proxy fight between the major oil company and the small activist investor circled around green energy initiatives, executive pay, and the diversification of Exxon's fossil fuel business.The win took many by surprise given that Engine No. 1 is a first time activist investor with just a 0.02% stake in Exxon. Typical activist investor campaigns have been led by well-known Wall Street figures who buy a position upwards 10% in the targeted company.The win by Engine No. 1 highlighted the growing appetite among investors for corporations to tackle climate change and green energy initiatives head-on. Many top institutional investors view addressing the climate as essential for a successful long-term business, including BlackRock founder and CEO Larry Fink. Exxon was staunchly against Engine No. 1's two board nominees, Gregory Goff and Kaisa Hietala. Exxon CEO Darren Woods refused to meet with the nominees and told shareholders that voting for them would "derail our progress and jeopardize your dividend," <a href="https://www.bloomberg.com/news/articles/2021-05-26/tiny-exxon-investor-notches-climate-win-with-two-board-seats">according to Bloomberg.</a>Just two-days before today's annual shareholder meeting, the company pledged that it would add two new directors to its board to counter-balance the potential addition of Goff and Hietala.Other fossil-fuel companies have seen a revolt among shareholders in vote proposals. <a href="https://markets.businessinsider.com/stocks/cvx-stock">Chevron</a>, <a href="https://markets.businessinsider.com/stocks/dd-stock">DuPont de Nemours</a>, and <a href="https://markets.businessinsider.com/stocks/cop-stock">ConocoPhillips</a> have all seen their shareholders issue rebukes to management by voting in favor of various proposals centered on climate change, Bloomberg highlighted.Two board seats on Exxon remain undecided, and one or both of them could still potentially be awarded to Engine No. 1. Whether Woods will take the advice of the new board members and pivot towards a greener future remains to be seen.

An activist investor with a 0.02% stake in Exxon ousted 2 of the oil giant's board members in a historic win

As part of its vision for the company's rapid transition to a new era of green, clean and renewable energy, the Chairman and Managing Director of Reliance Industries Limited (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>), <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, on Thursday unveiled the strategy and roadmap for its New Energy and New Materials business with an investment of ₹75,000 crore over a period of three years. During the 44th annual general meeting of RIL, Ambani said the investment would go into the setting up of four Giga factories that will manufacture and fully integrate all the critical components of the new energy ecosystem involving production of solar energy, storage of intermittent energy, production of green hydrogen and converting hydrogen into motive and stationary power. Reliance will invest 60,000 crore on these initiatives in the next three years. The rest 15,000 crore is kept for value chain, partnerships and future cost in the same time frame. Ambani said the company has started work on developing the Dhirubhai Ambani Green Energy Giga Complex over an area covering 5,000 acres in <keyword id="6361405" type="PERSON" weightage="20" keywordseo="jamnagar">Jamnagar</keyword>, Gujarat, which will be among the largest integrated renewable energy manufacturing facilities in the world. "Jamnagar was the 'cradle of our old energy business'. It will also be the 'cradle of our new energy business'," Ambani said at the AGM. Reliance will establish and enable at least 100 GW of solar energy by 2030 with a significant part of this coming from rooftop solar and decentralised solar installations in villages, he said. It will also set up an Advanced Energy Storage Giga Factory that will be used to produce large-scale grid batteries to store the energy that is created. The third initiative of the company would be the setting up of an Electrolyser Giga Factory to manufacture modular electrolysers of highest efficiency and lowest capital cost. These can be used for captive production of green hydrogen for domestic use as well as for global sale. The fourth initiative will be a Fuel Cell Giga Factory. A Fuel Cell uses oxygen from the air and hydrogen to generate electricity. "In 2016, we had launched Jio with the aim of bridging the Digital Divide in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Now in 2021, we are launching our New Energy business with the aim of bridging the green energy divide in India and globally," Ambani said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-chinas-2021-crypto-crackdown-in-2021-differs-from-the-2017-ban/articleshow/83802778.cms">Here’s how China’s 2021 crypto crackdown in 2021 differs from the 2017 ban</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO -- here's a look at if it makes sense</a>

Reliance Industries Limited  announces  ₹75,000 crore green energy plan to build four Giga factories

<ul><li>Green-energy investing will account for 25% of all energy spending in 2021 and, for the first time ever, surpass spending on traditional fuel sources like oil and gas, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> said in a Tuesday note.</li><li>Should the US aim to hold global warming within 2 degrees Celsius, the pivot to renewable energy sources will create between $1 trillion and $2 trillion in yearly infrastructure spending, the team of analysts added, or an investment opportunity as big as $16 trillion through 2030.</li><li>While past economic downturns halted efforts to lift <keyword id="154273" type="ORGANIZATION" weightage="60" keywordseo="clean-energy">clean energy</keyword> initiatives, the coronavirus recession "will be different," the firm said. </li><li>Green technologies "are now mature enough to be deployed at scale," and the transition can benefit massively from cheap capital and "an attractive regulatory framework," according to Goldman.</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</li></ul>The transition to renewable power from traditional fuels will create a $16 trillion investment opportunity through 2030 as spending shifts to new infrastructure, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> analysts said Tuesday.The bank projects green-energy spending to pass that of oil and gas for the first time ever next year and account for roughly 25% of all energy spending. The share stood at just 15% in 2014, but a dive in fossil-fuel investing over the past decade shifted more dollars to clean energy initiatives.If the nation aims to hold global warming within 2 degrees Celsius, the move toward renewable energy would create between $1 trillion and $2 trillion in yearly infrastructure spending, the team led by <keyword id="9418927" type="UNKNOWN" weightage="60" keywordseo="michele-della-vigna">Michele Della Vigna</keyword> wrote in a note to clients.Economic downturns have historically slowed efforts to boost clean energy investing, but Goldman sees the coronavirus downturn bucking that trend and accelerating the nationwide pivot.Read more: <a href="https://www.businessinsider.com/real-estate-investing-strategy-for-passive-income-rehab-heath-jones-2020-6" target="_blank" rel="noopener">Heath Jones is a US Army neuroscientist whose side hustle is scooping up real estate for passive income. Here's how he leverages a simple strategy for extra cash.</a>"We believe this time will be different, especially for technologies that are now mature enough to be deployed at scale and can benefit from a falling cost of capital and an attractive regulatory framework, unlocking one of the largest infrastructure investment opportunities in history on our estimates," the team wrote.The decade-long strategy isn't without its risks. Goldman warned that low cost of capital and an attractive regulatory framework are "essential" to moving green infrastructure forward. Such projects can be as much as three-times more demanding of capital and jobs compared to traditional energy developments.If either side of the public-private collaboration falters, the transition will slow dramatically, the bank said.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-topranked-investors-dennis-lynch-kristian-heugh-2020-6" target="_blank" rel="noopener">Wall Street's best US and international stock-pickers have tripled their clients' money since 2010. The duo break down 5 future-proof companies that will keep investors ahead of the pack through 2030.</a>Two-speed de-carbonization also poses a threat to the firm's outlook. Fiscal and monetary aid will likely boost mainstream clean-energy initiatives like solar and wind power. Yet growing technologies like clean hydrogen and the creation of carbon <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> risk being placed on the back-burner.If the latter efforts can't gain access to sufficient capital, the long-term plan to slash carbon emissions will stall, Goldman warned."This may ultimately delay the technological breakthroughs necessary to flatten the de-carbonization cost curve and achieve cost-efficient net zero carbon," the team wrote.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/best-stocks-to-buy-investing-strategy-market-rotation-jeff-kleintop-2020-6" target="_blank" rel="noopener">Schwab's global investing chief says the market's best-performing stocks are due for a surprising rotation for the first time in 12 years — and shares 3 ways to get ahead of the shift</a><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-index-reaction-economic-recession-recovery-hopes-2020-6-1029317791">US stocks climb, extend winning streak to 4 days on hopes for swift economic recovery</a><a href="https://www.businessinsider.com/wto-tariffs-white-house-lighthizer-reset-rates-trade-policy-economy-2020-6">The White House steps up trade aggression, calls for 'broader reset' of global tariffs</a>

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

<keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman, <keyword id="45442" type="General" weightage="20" keywordseo="reliance-industries-limited" source="Orion">Reliance Industries Limited</keyword> (RIL) has said that the company has started developing the <keyword id="12015496" type="General" weightage="20" keywordseo="dhirubhai-ambani-green-energy-giga-complex" source="Orion">Dhirubhai Ambani Green Energy Giga Complex</keyword> over 5,000 acres in Jamnagar. Speaking at the <keyword id="12015497" type="General" weightage="20" keywordseo="International-Climate-Summit-2021" source="Orion">International Climate Summit 2021</keyword>, Ambani said it will be amongst the largest integrated renewable energy manufacturing facilities in the world. This complex will have four Giga Factories, which cover the entire spectrum of renewable energy. The first will be an integrated solar photovoltaic module factory. The second will be an advanced energy storage battery factory. The third will be an electrolyser factory for the production of Green Hydrogen. The fourth will be a fuel cell factory for converting hydrogen into motive and stationary power, Ambani said. Ambani said over the next three years we will invest Rs 75,000 crore in these initiatives. <keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> will thus create and offer a fully integrated, end-to-end renewables energy ecosystem to India and Indians, he added. Efforts are on globally to make Green Hydrogen the most affordable fuel option by bringing down its cost to initially under USD 2 per kg. "Let me assure you all that Reliance will aggressively pursue this target and achieve it well before the turn of this decade. Am sure that India can set an even more aggressive target of achieving under USD 1 per kg within a decade," Ambani said. This will make India the first country globally to achieve $1 per 1 kilogram in 1 decade -- the 1-1-1 target for Green Hydrogen, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/apple-reportedly-in-talks-with-car-maker-toyota-for-its-car-production/articleshow/85890531.cms">Apple reportedly in talks with car maker Toyota for its car production</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-rise-on-hope-that-modi-government-will-use-these-rescue-options/articleshow/85890407.cms">Market hopes Vodafone Idea will be saved and these are the rescue options</a>

Mukesh Ambani reiterates Reliance's ₹75,000 crore push, reveals development of Giga Complex under way

<ul class="summary-list"><li>The SBA expanded its loan programs to support investments in clean energy businesses.</li><li>It will also let lenders apply to extend loan sizes up to $2 million for climate-related projects.</li></ul>The Small Business Administration is <a target="_blank" class="" href="https://www.businessinsider.com/sba-loans-small-business-lending-rules-change-2023-8">expanding its loan programs</a> to support investments in <a target="_blank" class="" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">clean energy</a> and <a target="_blank" class="" href="https://www.businessinsider.com/biden-administration-wants-boost-clean-energy-pay-through-tax-credits-2024-6">climate-friendly businesses</a>.The SBA announced on July 22 that it is increasing the maximum loan available through its Community Advantage program — which provides financing to entrepreneurs in underserved markets, like low-income communities — with increased flexibility for <a target="_blank" class="" href="https://www.businessinsider.com/how-the-climate-crisis-can-change-make-economy-better-resilient-2023-9">climate-focused projects</a>.The SBA will increase the maximum loan amount for active lenders to $500,000 from $350,000. It is also creating an application process for lenders to expand their loan size up to $2 million for climate-focused projects or $1 million for general projects.Lastly, the SBA will create an application for Community Advantage lenders to expand their geographic reach.The changes are part of the SBA's green lender initiative, which aims to enroll more climate-focused lenders in SBA programs and raise capital <a target="_blank" class="" href="https://www.businessinsider.com/jobs-climate-manufacturing-work-best-places-georgia-carolinas-2024-1">to support sustainable businesses</a>.Isabel Guzman, the administrator of the SBA, said in a statement that the green lender initiative aims to support "mission-driven climate lenders" and help fund "the small business clean energy transition.""Small businesses and homes account for more than one-third of US emissions, so it is vital that they are part of the solution," Guzman said.SBA loans, provided through banks or other financial institutions, help entrepreneurs raise capital.The SBA offers three main types of loans:<ul><li>Microloans range from $500 to $50,000 and are offered through nonprofit community-based lenders.</li><li>504 loans provide financing up to $5.5 million for major fixed assets like real estate and are provided through certified development companies — nonprofits regulated by the SBA to provide loans.</li><li>7(a) loans provide long-term financing up to $5 million for general small business investments and are offered through most banks. The SBA guarantees 85% of 7(a) loans up to $150,000 and 75% on loans larger than that amount.</li></ul>Community Advantage — the program being expanded by the green lender initiative — is a segment of the 7(a) loan program."SBA loans have been assisting small businesses and the lenders who support them for decades," Katie Frost, associate administrator for the SBA Office of Capital Access — which helps businesses find lenders — said in a <a target="_blank" class="" href="https://www.sba.gov/article/2024/07/22/biden-harris-administration-opens-sba-loan-programs-new-green-lenders-help-small-businesses-meet">statement</a>. "The SBA is excited to welcome green banks and similar institutions into SBA lending, to capitalize on these benefits and broaden their support to more American small businesses."<h2 id="dd41d010-97e4-4f2c-8584-f56dcf925fb5">SBA focuses on climate-friendly businesses</h2>The expansion of the SBA's loan programs comes after several years of record entrepreneurship. Under the Biden administration, there have been <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/06/12/statement-from-president-joe-biden-on-a-record-18-million-small-business-applications/#:~:text=Today%2C%20my%20Administration%20announced%20over,powered%20our%20economic%20comeback%20continues">18 million small business</a> applications. Additionally, in past years, the SBA has <a target="_blank" class="" href="https://www.businessinsider.com/sba-loans-small-business-lending-rules-change-2023-8">revised its loan requirements</a> to expand outreach to underserved communities.The SBA's focus on climate-friendly businesses is part of the Biden administration's green energy goals, which include a carbon pollution-free power sector by 2035 and a <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/20/fact-sheet-president-biden-to-catalyze-global-climate-action-through-the-major-economies-forum-on-energy-and-climate/#:~:text=Putting%20the%20Power%20Sector%20on%20a%20Path%20to%20Net%20Zero%20Emissions&amp;text=President%20Biden%20has%20set%20an,by%20no%20later%20than%202050.">zero-emission economy</a> by 2050.The 2022 Inflation Reduction Act — the largest <a target="_blank" class="" href="https://www.businessinsider.com/house-passes-inflation-reduction-act-sending-it-to-biden-2022-8">climate-focused federal package in US history</a> — approved spending on green energy projects, including authorizing the $27 billion <a target="_blank" class="" href="https://www.epa.gov/greenhouse-gas-reduction-fund">Greenhouse Gas Reduction Fund</a> through the Environmental Protection Agency.The green lender initiative will help small businesses tap into this fund, according to the SBA."The green lending initiative will help advance EPA's and SBA's shared goals of ensuring that communities and small businesses have access to the capital they need to support and benefit from a cleaner and more sustainable economy," Michael S. Regan, EPA administrator, said in a statement.Are you a small-business owner or entrepreneur scaling a startup right now? This reporter wants to hear from you. Please reach out at <a target="_blank" class="" href="mailto:jtowfighi@businessinsider.com">jtowfighi@businessinsider.com</a>

The Biden administration is giving entrepreneurs a shot at loans up to $2 million for climate-focused projects

<keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> has plans to invest USD 75 billion on <keyword id="1874332" type="General" weightage="20" keywordseo="energy-transition" source="Orion">energy transition</keyword> initiatives by 2030, its chairman Gautam Adani said on Wednesday. The <keyword id="6362476" type="General" weightage="20" keywordseo="investments" source="Orion">investments</keyword> will boost the group's vision to have 45 gigawatt of <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> capacity by 2030, Adani said in a statement. "We are committed to largescale renewables, developing an indigenous fully integrated <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword> ecosystem and green hydrogen solutions. At the Adani portfolio level, a total investment of USD 75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," the group chairman said. The investments will be executed through <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Limited (AGEL). AGEL has emerged as the second-largest global solar PV developer in the US-based Mercom Capital Group's latest annual global report. "The company's outstanding performance and contribution to the renewable energy landscape have earned it the prestigious second rank among the world's foremost solar PV developers," the statement said. It has an operating renewable portfolio of 8.4 GW, the largest in India, spread across 12 states, offsetting over 41 million tonne of CO2 emissions cumulatively.

Adani Group to invest USD 75 bn to scale up AGEL's RE portfolio to 45 GW: Gautam Adani

<div type="image" title="Bank of America Financing a Sustainable Future series illustration for the Planet pillar" height="2250" width="3000" msid="89976029" hostid="261"></div><ul class="summary-list"><li>Climate is the most urgent pillar of <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword>, and companies are activating in various ways. </li><li>Many are now investing in green bonds and other financial instruments to drive change. </li></ul>Of the four pillars, "planet" is the one that gets the most attention, funding, and urgency. The term sustainability is generally used in terms of environmental initiatives, even though it is only one component.Among the <a href="https://sdgs.un.org/goals">United Nations' 17 Sustainable Development Goals,</a> six are related to climate. <ul><li>Goal 6: <a href="https://sdgs.un.org/goals/goal6">Clean water and sanitation</a></li><li>Goal 7: <a href="https://sdgs.un.org/goals/goal7">Affordable and clean energy</a></li><li>Goal 12: <a href="https://sdgs.un.org/goals/goal12">Responsible consumption and production</a></li><li>Goal 13: <a href="https://sdgs.un.org/goals/goal13">Climate action</a></li><li>Goal 14: <a href="https://sdgs.un.org/goals/goal14">Life below water</a></li><li>Goal 15: <a href="https://sdgs.un.org/goals/goal15">Life on land</a></li></ul>As pressure has grown for corporations to stop polluting, they are increasingly tapping into financial instruments to transition their business toward sustainable operations and outcomes. Green bonds are one way companies are using new financial offerings to drive change. Also called sustainability bonds, they work like regular bonds in many ways and allow companies to raise money for capital projects. But green bonds are targeted to sustainability goals, allowing investors to support outcomes like reducing carbon emissions. <a href="https://www.apple.com/newsroom/2021/03/apples-four-point-seven-billion-green-bond-spend-is-helping-to-create-one-point-two-gigawatts-of-clean-power/">Apple is using green-bond proceeds to support its goal of carbon neutrality by 2030</a>. Each project it selects aims to support "low-carbon design and engineering, <keyword id="12195931" type="UNKNOWN" weightage="60" keywordseo="renewable-energy" source="Orion">renewable energy</keyword>, energy efficiency, carbon mitigation, and sequestration," the company said.Since 2016, Apple says it has invested about $4.7 billion in green bonds to bring "clean energy to local communities while reducing carbon emissions."So far, <a href="https://investor.apple.com/investor-relations/default.aspx">the company has funded 17 projects</a> which include solar developments near Reno, Nevada, and Fredericksburg, Virginia, a wind farm near Chicago, and onshore wind turbines in Denmark. Through the bond, Apple, the Canadian government, and Quebec's government partnered to invest in the Canadian aluminum supplier Elysis, intending to eliminate greenhouse-gas emissions that are usually created during the aluminum-smelting process. The project is relevant to Apple because of its heavy use of aluminum in products like the iPhone, Apple Watch, and MacBook.As it stands, Apple has estimated that it has avoided nearly 1 million metric tons of greenhouse gas emissions and generated 1.3 million megawatt-hours of renewable energy.<h2>Green-bond standards</h2>There are several green-bond standards companies can follow, and maintaining transparency and compliance is a big priority in most. Two common sets of criteria are the European Commission's, which was established in 2018, and the Green Bond Principles of 2014."A lot of green bonds and financing around real assets is moving toward having much more rigorous reporting and data around <keyword id="12011554" type="UNKNOWN" weightage="60" keywordseo="esg" source="Orion">ESG</keyword> credentials," said <a href="https://www.us.jll.com/en/about-jll/guy-grainger">Guy Grainger</a>, the global head of sustainability services and ESG at JLL, a real-estate services company. "There's going to become no hiding place in terms of how these are measured." Other than transparency and reporting requirements, the <a href="https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/european-green-bond-standard_en">European green-bond standard</a> also requires the money to be appropriated "fully to projects that are aligned with the EU taxonomy" and reviewed through an external entity, which must be registered and supervised by the European Securities Markets Authority.The <a href="https://www.climatebonds.net/market/best-practice-guidelines">Green Bond Principles and Climate Bonds Standard</a> were established in 2014 by a large group of investment banks and are listed as "<a href="https://www.icmagroup.org/sustainable-finance/the-principles-guidelines-and-handbooks/green-bond-principles-gbp/">voluntary best practice guidelines</a>." Like the European standards, it includes guidance on how proceeds can be used, project evaluation and selection, fund management, and reporting."People are going to have to start demonstrating what they're doing inside these green bonds," Grainger said. "There will be a lot of scrutinies, and the checks and measures that are being put in place by the capital on these green bonds are quite onerous in terms of reporting."<h2><keyword id="11897664" type="UNKNOWN" weightage="60" keywordseo="nike" source="Orion">Nike</keyword>'s move to zero </h2>Not all companies are taking the green-bond route to tackle the <keyword id="11896310" type="UNKNOWN" weightage="60" keywordseo="climate-crisis" source="Orion">climate crisis</keyword>. Nike, one of the largest athletic footwear, apparel, and equipment companies, has incorporated sustainability goals and initiatives into its operating budget.According to Nike's <a href="https://purpose.nike.com/fy20-nike-impact-report">2020 impact report</a>, its shoe factories had reduced energy consumption by 10% year over year since 2015, with 100% renewable energy being used across its US and Canada factories."Sustainability has been a strategic focus at Nike for decades," Noel Kinder, Nike's chief sustainability officer, told Insider. "<keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">Climate change</keyword> presents a major threat to the future of sports, and the scale of change needed to address the urgency of climate change requires innovation across every part of Nike." <a href="https://purpose.nike.com/climate-and-sport/#">Move to Zero</a> is Nike's initiative focused on getting the company to a "zero-carbon, zero-waste future." The action program looks at the climate crisis through a science and sports lens, showing the specific negative effects global warming has on athletes around the world."If there is no planet, there is no sport," Kinder said. "Which has galvanized us to place sustainability at the very foundation of how we approach our business."

Planet: Companies are accelerating their investment in combating the climate crisis

Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

You Searched For "green energy initiatives" and got 11 results

NTPC Green Energy shares debut with over 3% premium

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Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

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Mukesh Ambani reiterates Reliance's ₹75,000 crore push, reveals development of Giga Complex under way

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The Biden administration is giving entrepreneurs a shot at loans up to $2 million for climate-focused projects

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Planet: Companies are accelerating their investment in combating the climate crisis

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Adani Transmission to become net-zero by 2050

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