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<ul><li>Prime Minister Narendra Modi launched the second phase of the Swachh Bharat Mission-Urban Mission to make Indian cities ‘garbage free’ last year.</li><li>About 2.24 billion tonnes of waste was generated in 2020, and if all this waste is put on trucks they would go around the world a little over 24 times.</li><li>India was ranked at the bottom position of the Environmental Performance Index (EPI) 2022, with 151st position in <keyword id="6359012" type="General" weightage="20" keywordseo="waste-management" source="Orion">waste management</keyword>.</li></ul>It was less than a year ago that Prime Minister Narendra Modi launched the second phase of the Swachh Bharat Mission-Urban Mission to make all cities of India ‘garbage free’. Indian micro, small and medium enterprises (<keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>) are struggling everyday in order to make that dream of Swachh Bharat into a reality. India faces major environmental challenges associated with waste generation and inadequate waste collection, transport, treatment and disposal. The current systems in India are not able to cope with the volumes of waste generated — about <a href="https://waste-management-world.com/recycling/recycling-in-india-a-market-in-transition/">960 million tonnes</a> of it — by an increasing urban population, and this impacts on the environment and public health. “As per Material Recycling Association (MRAI) India’s recycling rate stands at 30%. The data associated with this recycling rate is largely dominated by highly recyclable materials such as ferrous and non-ferrous scrap, paper, rubber, and tyre etc,” Anurag Asati, co-founder of a waste management company The Kabadiwala, told Business Insider. He noted that the recycling of materials such as plastics is “not very well documented” as a lot of recyclables in the daily garbage and litter does not get collected/recycled because of its low value. Some of it is also informally recycled by waste pickers and kabadiwala associations. The Swachh Bharat Mission-Urban Mission plan relies on a multi pronged strategy — segregate solid waste on source; follow the 3Rs of Reducing, Reusing and Recycling; scientifically process all types of municipal solid waste; and remediate legacy dumpsites for effective solid waste management. This may help, but the growing consumerism is just adding more challenges to the bucket. <cmsannotation type="cmsannotation" annotationid="Consumerism, fast fashion are making waste management expensive" comment="subhead" text="Consumerism, fast fashion are making waste management expensive">Consumerism, fast fashion are making waste management expensive</cmsannotation> About <a href="https://www.worldbank.org/en/topic/urbandevelopment/brief/solid-waste-management">2.24 billion tonnes</a> of waste was generated in 2020 as per The World Bank’s data, and if all this waste is put on trucks they would go around the world a little over <a href="https://www.globalrecyclingday.com/wp-content/uploads/2019/11/Amazing-things-made-out-of-recycled-goods-2020.pdf">24 times</a>. “With rapid population growth and urbanization, annual waste generation is expected to increase by 73% from 2020 levels to 3.88 billion tonnes in 2050,” the global organisation added. Increasing consumerism and fast fashion trends have pushed consumers to purchase more, leading to an increased contribution to solid waste. “99% of what we buy is discarded <a href="https://news.un.org/en/story/2018/10/1021972">within six months</a>, which is one of the key reasons for these alarming numbers,” Monisha Narke, founder of RUR Greenlife said, citing data from the United Nations. That type of waste is difficult to recycle too as they are difficult to collect, Asati of The Kabadiwala said. “Disposal of material like multi-layer packaging, single-use plastic, styrofoam, old clothes is difficult because the collection and processing of this kind of waste requires a lot of effort and resources which makes it expensive,” he noted. <cmsannotation type="cmsannotation" annotationid="Lack of awareness, budget and consistent policy is an issue too" comment="subhead" text="Lack of awareness, budget and consistent policy is an issue too">Lack of awareness, budget and consistent policy is an issue too</cmsannotation> Lack of awareness, budget, financial viability and infrastructure are some other challenges that India’s waste management system is facing. According to the World Bank, effective waste management is expensive, often comprising 20%–50% of municipal budgets. The lack of land in metropolitan areas like Mumbai and other Tier I cities is making recycling even more difficult and expensive, Narke noted. India was ranked at the bottom position of the <a href="https://epi.yale.edu/epi-results/2022/country/ind">Environmental Performance Index </a>(EPI) 2022, with 151st position in waste management, 165th position in climate policy. The country also scored low on rule of law, control of corruption and government effectiveness. Apart from the basic awareness, India also needs clearer policies around solid waste management systems in India. “MSME policy and schemes in the waste management sector should be clearer and conducive as it will help form proper structure and processes. Frequent changes in the policies makes it difficult to modify the service/product in the given time frame,” Asati added. He emphasized that the government helps promote MSME and green entrepreneurship culture, but there needs to be more focus on tax rebates, subsidies in land and electricity. “The government can also provide community spaces for storing and material recovery facilities for waste management,” Narke added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-maruti-suzuki-infosys-among-stocks-to-watch-out-for-on-june-27/slidelist/92481042.cms">Adani Enterprises, Maruti Suzuki, Infosys among stocks to watch out for on June 27</a> <a href="https://www.businessinsider.in/stock-market/news/oil-prices-could-slump-to-75-a-barrel-in-a-recession-or-jump-to-150-if-european-sanctions-slam-russian-supplies-bofa-says/articleshow/92474354.cms" data-type="tilCustomLink">Oil prices could slump to $75 a barrel in a recession — or jump to $150 if European sanctions slam Russian supplies, BofA says</a> <a href="https://www.businessinsider.in/international/news/tesla-is-laying-off-workers-who-only-just-started-and-withdrawing-employment-offers-as-elon-musks-job-cuts-begin/articleshow/92470514.cms" data-type="tilCustomLink">Tesla is laying off workers who only just started and withdrawing employment offers as Elon Musk's job cuts begin</a>

MSMEs can aid waste management in India but need more hand holding

<ul class="summary-list"><li>The land used to produce food that's wasted in the US totals the size of California and New York.</li><li>There are many reasons food gets tossed but consumers are the biggest source of waste.</li></ul>Danielle Melgar is working with the caterer for her wedding to make sure that between the "I do's" and the last dance, food won't be going to waste.The October ceremony, at a botanical garden in Michigan, will feature a buffet so guests aren't served more than they can eat. And there will be containers so people can take home leftovers.Wanting to limit how much gets tossed at an event she's hosting comes naturally for Melgar, whose work focuses on food issues. She notes that some <a target="_blank" href="https://cfpub.epa.gov/si/si_public_record_Report.cfm?Lab=IO&amp;dirEntryId=353471">140 million acres</a> of agricultural land in the US are devoted to food that is ultimately wasted. If all that food came from a single farm, it would be about the size of California and New York combined."We're wasting more than enough food to feed every hungry person twice over," Melgar, who focuses on food and agriculture for the consumer advocacy group PIRG, told Insider.<div type="image" title="Danielle Melgar sits at a picnic table with food" height="3024" width="4032" msid="103555127" hostid="261"></div>The waste baked into the US food system is a problem for obvious reasons: People go hungry, money and resources are lost, and landfills, where most surplus food goes, continue to fill up. There isn't one fix that would do away with the problem, though advocates say consumer education and a renewed push to apply national standards to the "use by" dates manufacturers put on food products could go a long way toward helping the US meet a goal of <a target="_blank" href="https://www.epa.gov/sustainable-management-food/united-states-2030-food-loss-and-waste-reduction-goal#:~:text=The%20goal%20seeks%20to%20cut,money%20for%20families%20and%20businesses.">cutting food waste in half</a> by 2030.<h2>It's not me, it's you</h2>Part of the problem with unused food is that because it's so commonplace, it's easy to overlook. But it piles up. Estimates vary, but <a target="_blank" href="https://www.usda.gov/foodwaste/faqs">about 30% to 40%</a> of food in the US is wasted. That's why food is the No. 1 type of everyday garbage making its way into US landfills — comprising some 24% of municipal solid waste, according to the Environmental Protection Agency.And the biggest contributor to that waste? You and me. Consumers scraping off plates we couldn't finish or ditching the moldy artifacts we come across in our kitchen are the biggest sources of discarded food in the US — more than the food waste coming from restaurants and grocery stores."People often talk about food waste as if it is one problem, but in reality, you're really talking about fixing the whole food system," Dana Gunders, the executive director at the nonprofit ReFED, told Insider. She said different factors are at play depending on whether you're talking about fields of tomatoes that aren't getting harvested, too many potatoes on a breakfast platter, or "the science experiment in the back of your fridge."Emily Broad Leib, the director of the Food Law and Policy Clinic at Harvard Law School, told Insider that many of us don't realize how much we're wasting. She pointed to one academic study in which three in four of the consumers surveyed said they got rid of less food than the average American. In her own home, Broad Leib said, once her family started using a composting service that collects kitchen scraps, she realized how much excess food waste her family produced."Actually one of the biggest benefits has been when you really see all your food in one place, you start to really recognize what you're wasting in a way that I think is really beneficial," Broad Leib said.All that waste can add up: The US Department of Agriculture estimates the average American family of four <a target="_blank" href="https://www.usda.gov/foodlossandwaste/consumers">loses $1,500</a> a year on uneaten food. And all that food rotting in landfills produces methane, a greenhouse gas that's initially <a target="_blank" href="https://www.edf.org/climate/methane-crucial-opportunity-climate-fight#:~:text=Methane%20has%20more%20than%2080,warming%20in%20the%20near%20term.">80 times more powerful</a> than carbon dioxide before breaking down.People usually have good intentions when buying food but end up dumping it because there's just so much of it. We want to be sure we buy enough for a party or for a busy workweek. And some consumers might decide they're going to start eating better, so they scoop up good-for-you things like leafy greens."They might buy a bunch of produce at the grocery store because they want to eat healthy, but then go out for pizza and never get around to it," Gunders said. "And we don't really have sort of a cultural taboo on throwing food out as we do for things like littering."Beyond not following through on our intentions — or committing the cardinal sin of shopping while hungry — we have an overabundance of inexpensive food available to us.Gunders notes the average grocery store carries some 50,000 items. And while spikes in food prices have drawn headlines in the past couple of years, costs in the US are lower as a percentage of our incomes than in decades past. That makes it easier to junk our leftovers. And with restaurants and grocery stores, things like labor costs tend to trump concerns about the comparatively smaller expenses tied to food.<h2>Your milk hasn't gone bad</h2>Another source of the problem in the US, in particular, is that there aren't federal regulations around date labels on food products other than for baby formula."They generally are not indicators of safety. They're not federally regulated, and they don't mean the food will make you sick," Gunders said of the expiration dates on food.<a target="_blank" href="https://pingree.house.gov/news/documentsingle.aspx?DocumentID=4587#:~:text=The%20bipartisan%20Food%20Date%20Labeling%20Act%20establishes%20an%20easily%20understood,life%2C%20after%20which%20the%20product">Proposed federal legislation</a> would set standards by allowing "use by" dates to indicate the point after which food shouldn't be consumed. And it would allow "best if used by" date so producers can indicate when the quality of the food might start to fade.Some states don't allow food to be donated after the quality date has passed — another source of unnecessary food waste, advocates say."We don't have a mechanism to show people which of those labels are related to quality versus which foods are really a safety risk," Broad Leib said.She said milk is one of the top foods people waste because the date has passed. But, she said, milk can go bad before the date stamped on the container or still be good for days after.Not wasting so much food could also help combat food insecurity. While not all of it is fit for people, much of what grocery stores or food sellers might discard could still be used."Twenty minutes before, it was safe for people to buy, take home and eat. And then all of a sudden, you know, the end of the day comes and it's not perfect anymore — or the date passes — and suddenly, it's trash and goes to the landfill," Broad Leib said.<h2>Wasteless Wednesdays</h2>Part of the fix could involve simple things like making a grocery list, taking inventory of your fridge before you shop, and freezing food before it goes bad. There are various efforts to educate consumers; terms like "stir Fridays" or "wasteless Wednesdays" are meant to prod us to look twice at what we can cobble together into a meal.Some observers also sense an opening."If we are throwing, you know, 30 to 40% of our food away — and the money along with that — there's actually a lot of opportunity and business proposition in not throwing that out," Gunders said.There are apps like Flashfood and Too Good To Go that let consumers buy food that grocers and restaurants would otherwise toss at discounted prices. Hellman's, the mayonnaise brand, has an app called Fridge Night that helps people figure out what to do with leftovers. And a company called Mill lets you <a target="_blank" href="https://www.mill.com/">dry your food waste</a> in a mechanized container and mail back the resulting mix to be used as feed on farms. Shuggie's, a restaurant in San Francisco, uses food that would otherwise go to waste to create meals, including pizzas it refers to as "trash pie."<h2>Thinking about food waste at every meal</h2>Melgar is focused on policy goals like setting standards around food-date labels because changing consumer habits can be tough."There are a lot of solutions that help people compost in their own backyards or make their food last a little bit longer, but it doesn't necessarily reduce the amount that they're buying," Melgar said."Our entire goal as a society when it comes to agriculture has been to make sure that everyone has enough food. We have achieved that but we have not acknowledged that," she said. "And so we have continued to construct our food system in a way that prioritizes producing as much food as possible, when actually we could be lessening the impact of our food system by not producing so much surplus in the first place."Melgar said she knew she'd found the right wedding caterer when she learned the woman already had a policy of sending excess food home with her staff rather than throwing it out."I'm thinking about food waste every time I have a meal, every time I go grocery shopping," Melgar said. "So it was very natural that I wanted to have that conversation with someone who's going to be serving food to a lot of people on a day when I get to control what happens with that food."

If a single farm produced all the food wasted in the US, it would be the size of California and New York combined. We're the culprits.

<ul><li>The basis for allotment for the IPO of Antony Waste Handling Cell will be announced on December 29.</li><li>The shares are expected to be listed on January 1.</li><li>Investors will be able to check the allotment status on the registrar’s website.</li></ul>Antony Waste Handling Cell Limited, one of the biggest municipal solid waste management company in India has completed its IPO and has received a good response from investors. Like most recent IPOs, the Antony Waste Handling Cell has been oversubscribed. It was oversubscribed 18.69 times by non-institutional investors and over 16.55 times by retail investors. Everyone who applied for the <keyword id="8856046" type="UNKNOWN" weightage="20" keywordseo="Antony-Waste-Handling-Cell-IPO">Antony Waste Handling Cell IPO</keyword> has been waiting for the allotment announcement. Here’s everything you need to know about the Antony Waste Handling Cell allotment. When will Antony Waste Handling Cell allotment be announced? The Antony Waste Handling Cell allotment will be posted on the registrar’s website on December 29. The registrar for Antony Waste Handling Cell IPO is Link Intime India. How to check Antony Waste Handling Cell allotment status? You can check the Antony Waste Handling Cell allotment status on the registrar’s website. <ul><li>To check the <keyword id="10488773" type="UNKNOWN" weightage="20" keywordseo="antony-waste-handling-cell-ipo-allotment-status">Antony Waste Handling Cell IPO allotment status</keyword>, visit the registrar’s website <a href="https://www.linkintime.co.in/IPO/public-issues.html">here</a>.</li><li>Click on ‘Select Company’ and then select ‘Antony Waste Handling Cell’.</li><li>Now, enter either your PAN, application number or DP / Client ID.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>Now, you will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. When will the Antony Waste Handling Cell shares be listed? The Antony Waste Handling Cell shares are expected to be listed on January 1. We should know more about the listing date once the allotment has been completed. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/antony-waste-handling-cell-is-all-set-to-float-its-300-crore-initial-public-offer-ipo-on-december-21/articleshow/79775474.cms">Antony Waste Handling prices IPO shares at ₹313-315 a piece in its second attempt — wants to raise 50% more this time</a> <a href="https://www.businessinsider.in/stock-market/news/cryptocurrency-exchange-coindcx-raises-13-9-million-funding/articleshow/79850829.cms">Cryptocurrency exchange CoinDCX has raised $20 million since the pandemic broke out⁠ — the founder says he is hiring aggressively as volumes have tripled</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Antony Waste Handling Cell IPO allotment live - How to check allotment, listing date and more

<ul><li>Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) for the second time on December 21.</li><li>This will be the first and the biggest IPO by a solid <keyword id="6359012" type="UNKNOWN" weightage="20" keywordseo="waste-management">waste management</keyword> and transportation company as there are no listed peers of the company.</li><li>Antony Waste Handling Cell Limited has an established track record of 17 years and is among the top five players in its space. </li><li>There are various risk factors highlighted in the company’s red herring prospectus, which investors must consider before they decide to invest in the company.</li></ul>India's second-largest Municipal Solid Waste Management (MSW) company, Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) for the second time on December 21. The company earlier in March launched a ₹200 crore IPO but had to withdraw it following a tepid response from investors. But it looks like it is all geared up this time, and the company has revised the price band to ₹313-315 per share. The grey market premium for its shares is hovering at ₹45-50 — suggesting an upside of 15% over the issue price band. This will be the first and the biggest IPO by an MSW collection and transportation company as there are no listed peers on the Indian stock exchanges as of now. The company said the proceeds from the issue would be utilised for part-financing for its PCMC WTE project through investment in its subsidiaries, and for the reduction of the consolidated borrowings. Here’s are the Investment experts recommendations for <keyword id="8862926" type="UNKNOWN" weightage="20" keywordseo="antony-waste-handling-ipo">Antony Waste Handling IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financials </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financials </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Liladher </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> Strong track record and marquee clients Antony Waste Handling Cell Limited has an established track record of 17 years and is among the top five players in the Indian MSW management industry. It is indulged in providing a full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities. The company has few of the marquee clients in its kitty including the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), Pimpri Chinchwad Municipal Corporation (PCMC), the North Delhi Municipal Corporation (NDMC), and other municipal corporations. Significant growth in revenue Just like its strong client base, the company also has a strong track record of profitability in the past fiscals. Antony Waste Handling Cell profit has grown over 35% in the past three years. <div type="image" title="Antony Waste Handling Cell" msid="79791059" hostid="261"></div> And, its long-term nature of projects (ranging from 5-25 years) gives visibility for consistent revenue generation in future. De-risked business model with a diverse portfolio of projects According to Axis Capital, in this industry, the number, size and duration, of simultaneously ongoing projects is considered an indicator of future performance since they provide an indication of anticipated future revenue. Company’s project portfolio is diversified across services provided, counterparties, project duration, nature of contracts and geographical areas where they operate. And, the growing MSW industry will ensure growth in its business. According to the Frost &amp; Sullivan Report, The MSW Management market is estimated at ₹50,000 million for FY2020 and is expected to reach ₹98,000 million by FY 2025 at a CAGR of 14.4%. Risk factors to consider before subscribing Despite its established track record, there are various risk factors highlighted in the company’s red herring prospectus which investors must consider before they decide to invest in the company. Here a brief look at the top risk factors. Majority portion of the revenue comes from limited clients The company said it had derived a significant portion of our revenue from a limited number of clients and it may continue to derive a significant portion of its revenue from such clients. According to RHP, the top five clients contributed 81.76% in FY 2020. And, any adverse development with any of its top clients, including as a result of a dispute with or disqualification by any major customers, may result in a significant reduction in its cash flows and liquidity. Dependent on municipalities for budgets The company is largely dependent on municipalities for a substantial proportion of its business and revenue. And, the company highlighted that many municipalities have been struggling to fund various solid waste management projects from their own revenue receipts and are highly dependent on the government's budget allocation. And, any decline in the budgetary allocation towards MSW projects will have a material adverse impact on its business, financial condition, and results of operations. Out of 18 ongoing projects, 17 of its projects have been awarded by municipal corporations, according to the prospectus. Limited reach The company has its clients based out of limited geographies including Maharashtra, Delhi and other states. And, its exposure to projects in new geographies and with other municipal corporations may not yield much profit as its current contracts. SEE ALSO: <a href="https://www.businessinsider.in/science/news/fda-says-it-will-rapidly-work-toward-authorizing-modernas-covid-19-vaccine/articleshow/79789544.cms" data-type="tilCustomLink">FDA says it will 'rapidly work toward' authorizing Moderna's COVID-19 vaccine</a> <a href="https://www.businessinsider.in/tech/news/facebook-and-google-have-been-accused-of-striking-a-secret-illegal-advertising-deal/articleshow/79778780.cms" data-type="tilCustomLink">Facebook and Google have been accused of striking a secret, illegal advertising deal</a>

Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities

<ul><li>Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) on December 21.</li><li>This is the second time that the company is launching its IPO this year. Earlier in March the company had launched the ₹200 crore IPO but was withdrawn following a tepid response from investors. </li><li>It is one of India’s leading Municipal Solid Waste Management (MSW) company.Services include solid waste collection, transportation, processing and disposal services to Indian municipalities. </li></ul>One of India's leading Municipal Solid Waste Management (MSW) company, Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) on December 21. The price band has been fixed at ₹313-315 per share. This is the second time that the company is launching its IPO this year. Earlier in March the company had launched the ₹200 crore IPO but was withdrawn following a tepid response from investors. The IPO will comprise a fresh issue of shares aggregating to ₹85 crore and an offer-for-sale (OFS) of up to 68.24 lakh equity shares. Equirus Capital Private Ltd and IIFL Securities Ltd are the books running lead managers, and Link Intime India Private Ltd is the registrar to the issue. The shares will be listed on BSE and NSE. Antony Waste Handling Cell IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 23 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹313-315 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47X47 </td></tr></tbody></table> The service range of the Antony Waste Handling includes solid waste collection, transportation, processing and disposal services to Indian municipalities. It has in-house expertise in the landfill construction and management sector. Antony Waste Handling Cell: All you need to know <ul><li>Antony Waste Handling Cell is one of the 5 leading players in this segment with end to end capabilities with a track record of 17 years.</li></ul><ul><li>It is the part of the diversified 'Antony' group, which includes the automotive body-building and ancillary industries,</li></ul><ul><li>Antony Waste client base includes the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), Pimpri Chinchwad Municipal Corporation (PCMC), the North Delhi Municipal Corporation (NDMC), and many other municipal corporations. </li></ul><ul><li>Urbanization is a critical factor driving the MSW generation in the country. The MSW Management market is estimated at ₹ 3,000 crore for fiscal 2018 and is expected to reach ₹6,200 crore by fiscal 2023 at a CAGR of 15.6%.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

Antony Waste Handling prices IPO shares at ₹313-315 a piece in its second attempt —  wants to raise 50% more this time

<ul><li>Last week, <keyword id="178761" type="COMPANY" weightage="20" keywordseo="Hindustan-Unilever-Limited">Hindustan Unilever Limited</keyword> (HUL) launched its first in-store vending machine model, <keyword id="11605454" type="UNKNOWN" weightage="20" keywordseo="smart-fill-machine">Smart Fill machine</keyword>, for its Home Care products with the aim to reuse, reduce and recycle plastic.</li><li>We talk to Prabha Narsimhan – Executive Director (Home Care) for Hindustan Unilever and Vice President (Home Care) for Unilever South Asia about the company's latest sustainable projects, how HUL has been focusing on becoming a sustainable company at a larger level, and future goals.</li></ul>Earlier this year, Hindustan Unilever Limited had announced that it would collect and process more plastic packaging waste than what it uses in a bid to achieve 100% plastic waste collection by the end of 2021. HUL has taken one more step forward towards sustainability and achieving this plastic waste neutrality goal. The FMCG giant has launched an in-store vending machine model, Smart Fill machine, for its Home Care products. It allows consumers to reuse and recycle plastic. According to Terrin.org, around <a href="https://www.teriin.org/sites/default/files/files/factsheet.pdf">43%</a> of manufactured plastic in India is used for packaging purposes, and is mostly single-use plastic. India produces an estimated 62 million tonnes of municipal solid waste annually, which is likely to reach 165 million tonnes by 2030. With this growing concern around plastic pollution generated by companies, more and more brands are realising the importance of becoming sustainable and relooking at their packaging strategy. The ban on single-use plastic has also further pushed manufacturers to look at green alternatives. So, to do its bit for the environment and undo some of the damage caused by plastic, HUL’s Smart Fill machine will allow its consumers to reuse their plastic bottles by refilling products from its brands like Surf Excel, Comfort and Vim, to begin with. <div type="Youtube" id="Bkjlj6S5c5E" title="HUL‘s ‘Smart Fill’ machine empowers consumers to reduce plastic waste" thumbUrl="https://i.ytimg.com/vi/Bkjlj6S5c5E/mqdefault.jpg"></div> The vending machine has been installed at Reliance Smart Acme Mall in Mumbai and the project is currently in pilot stage. Sharing how HUL is slashing its product prices to nudge consumers to switch, Prabha Narsimhan – Executive Director (Home Care) for Hindustan Unilever and Vice President (Home Care) for Unilever South Asia said, “As an incentive, consumers are being offered Rs 30 off on the MRP or effective price at the store if they get their own bottle and Rs 15 off to those who purchase the Smart Fill bottle. The flagship brands that consumers can avail these benefits on include Surf Excel liquid for Top Load and Front Load washing machines; Comfort Fabric Conditioner and Vim Dishwash Liquid Gel.” The COVID-19 pandemic has added a safety dimension to sustainability that consumers and organisations must now balance. However, for HUL, the timing couldn’t be more perfect to launch this pilot. Sharing why, Narsimhan said, “COVID-19 in general has been difficult for businesses and brands across sectors. After most COVID-19 restrictions were lifted, we have continued our on-ground efforts with health guidelines in place, for elimination of plastic litter. All our plastic waste collection partners mobilized their resources to minimize disruption without risking the health of their staff members and partners. In fact, COVID has improved our focus on responsible disposal of waste, which is why we feel it is a good time to start this pilot.” After gauging the response at Reliance Smart, the project will be implemented across the country. Narsimhan said, “We believe that upstream interventions such as shifting from single use towards re-use and refill models can be one of the most impactful solutions to plastic waste from an environmental, economic, and social perspective. This project will serve as an ideal pilot to gather learnings and use them to replicate it across the state and the country. Given that this is our first initiative, we have partnered with Reliance. In fact, we had partnered with Reliance Smart across 3 cities, in 2019 to carry out an awareness drive amongst customers on the importance of segregation of waste at the household level for effective waste management. Continuing with our shared vision to manage plastic waste, we have collaborated with Reliance Smart for this pilot project as well. We are hopeful that through our awareness building exercises, we will be able to ensure mass behavioral change in the consumers regarding the role that they can play in curbing this menace. We aim to use learnings from this pilot project in Mumbai to create a scalable refill business model in partnership with prominent retailers and modern trade outlets.” To further promote the cause and get more consumers to visit the mart, HUL has partnered with influencers in the vicinity. Narsimhan shared the marketing plan with us. She said, “One of the key aspects to draw visibility to the vending machine is in-store branding. Our effort would be to make sure that as more and more consumers visit and experience this model, they will be able to help us spread the awareness through word-of-mouth, which we plan to amplify further. We have also tied-up with a few influencers in the catchment areas around the store that will help us create surround sound around the Smart Fill. As the initiative scales up further, we will look at a more broad-based digital campaign that will help us further spread the message across consumers.” Millennials and GenZ today are much more conscious of the brands they choose. Their choice usually depends on how much of an effort a brand is making towards helping the environment and society at large. While Narsimhan agreed that young people are more likely to be the first adopters of refilling, HUL is trying to target all age groups. She said, “Millennials and Gen Zs are by far one of the most conscious consumers we have witnessed in the last two decades. Born in a digital age, this generation is socially aware, more health-conscious and understands the impact of their actions on the environment. All our sustainable interventions are designed to not just cater to their sensibilities, but towards the larger goal of driving real, on-ground impact that is accessible. As for the ‘Smart Fill’ project, we are catering to consumers across demographics including Millennials and Gen Zs. Since Reliance Smart is a retail outlet that garners footfalls across age groups; we intend to bolster awareness and empower our consumers to make smarter decisions when it comes to the issue of plastic waste generation.” But this isn’t the only sustainable effort that the FMCG giant has taken in this year. Walking us through the past action-filled 6 months, Narsimhan shared, “We have substituted commodity polymers with performance-based polymers, optimized the packaging designs and changed the packaging formats of our products to consume less plastic. For example: Pond’s Talc was recognized at the 24th DuPont Global Packaging Award for reducing packaging through innovation. We have developed coating technology to replace the polymer coating in our soap cartons. Our soap bar range cartons in skin cleansing are plastics free. We have started migrating to recyclable flexibles across our portfolio starting with pilots in few brands like soap wrapper of Lux and Lifebuoy, Sunsilk shampoo sachets and Pond’s tubes. We have also started using rPET (80% recycled PET) in our blister packs for personal care brands such as Pepsodent toothbrush, Vaseline lip care. We have launched Vim liquid bottles having 50% rPET. We have initiated use of rHDPE (25% recycled HDPE) in our personal care bottles like Tresemme, Sunsilk, Surf Excel Laundry liquid and Comfort fabric conditioner.” Brands play a huge role in bringing about change in society and Narsimhan said that brands should use that to empower consumers to make better choices. She said, “Consumers relate to brands that resonate with their own way of thinking. Brands that don’t just advocate such ideas but put them into measurable, result-oriented action. Therefore, brands can and must play their part in empowering consumers to make sustainable choices. And one of the key aspects of this empowerment journey is by offering choices that are accessible and hassle-free. With our plastic waste collection initiative and now the refill machine, we are encouraging and empowering our consumers to be a part of this solution. These small changes that consumers make on a day-to-day basis can lead to a sizable impact overall.” When it comes to sustainability, we often hear the three popular R’s – Reduce, Reuse and Recycle in every marketing campaign. Many companies have promoted only recycle and reuse. However, reduce hits at consumption. As a result, HUL has also formulated long-term goals to focus on reduction of plastic. It has committed that by 2025 100% of the company’s plastic packaging is reusable, recyclable, or compostable and halving use of virgin plastic by reducing the absolute use of plastic packaging and accelerating use of recycled plastic. Shedding some light on HUL’s larger sustainability efforts and vision, Narsimhan said, “We are committed to accelerating a transition to a circular economy, moving from the linear take-make-dispose model to a regenerative approach, which keeps materials at their highest value for as long as possible. We recently announced that from 2021 onwards, we will collect and facilitate environment-friendly processing of more plastic packaging waste than the plastic we use in our packaging. Since 2018, we have facilitated safe disposal of more than 1.5 lakh tons of post-consumer use plastic waste with the help of collection and disposal partners across India. We are also working closely with the government and other partners such as the United Nations Development Programme (UNDP) and Xynteo for end-to-end pilot projects for plastic waste management. Apart from this, the Education Department of Maharashtra, HUL and Xynteo have rolled out a digital school curriculum focused on the importance of segregation, collection and safe disposal of waste. The programme reached nearly one lakh children in Maharashtra during its pilot last year and is currently being scaled across the state.”

Hindustan Unilever Limited’s Prabha Narsimhan shares latest steps that the company has taken towards sustainability to achieve its goal of 100% plastic waste collection by the end of 2021

A report by <a href="http://www.businessinsider.in/searchresult.cms?query=cse&amp;sortorder=effectivedate">Centre for Science and Environment</a> (CSE) has stated Alappuzha in Kerala, Panaji and Mysuru are the <a href="http://www.businessinsider.in/searchresult.cms?query=cleanest+cities+in+india&amp;sortorder=effectivedate">cleanest cities in India</a>. 
 
The survey-‘Not in my backyard’-, which is based on <a href="http://www.businessinsider.in/searchresult.cms?query=waste+management&amp;sortorder=effectivedate">solid waste management</a> practises in towns in India, placed Delhi at the "bottom of the heap". 
 "Alappuzha, Panaji and Mysuru are three of the <keyword id="3487316" type="UNKNOWN" weightage="20" keywordseo="cleanest-cities-in-India">cleanest cities in India</keyword>, with municipal waste management systems that actually work. CSE rated Indian cities on their management of solid waste - metros like Delhi feature at the bottom of the heap," a latest rating by Centre for Science and Environment (CSE) said. 
 
"This book started as a survey, we wanted to simply know which city is India's cleanest. We knew that once we found out which is the cleanest, we would also find out what makes it so. This would give us the answers for future policy," said CSE Director General Sunita Narain. 
 
Noting that the last survey to understand quantity and composition of <a href="http://www.businessinsider.in/searchresult.cms?query=garbage&amp;sortorder=effectivedate">garbage</a> was done over a decade ago, CSE said that the methodology used to calculate waste generated is to simply extrapolate an assumed quantity estimate with the population. 
 
Referring to the Department of Economic Affairs position paper on solid waste management of 2009, CSE said that urban India was already producing some 80,000 MT of waste a day. 
 
It projected that by 2047, India would be producing 260 million tonnes of waste annually needing over 1,400 sq km of landfills which is an area equal to Hyderabad, Mumbai and Chennai put together, CSE said referring to the paper. 
 
According to Central Pollution Control Board (CPCB) estimates, over 90 per cent of Indian cities with a functional collection system dispose of their waste in landfills, CSE said.

These are the cleanest Indian cities, according to CSE

New Delhi, Mar 16 () Antony Waste Handling Cell, engaged in municipal solid waste management, on Monday announced withdrawal of its initial public offering (IPO), amid tepid investor response and extreme weak markets. The public offer was extended till March 16. Price band for the offer was also revised from Rs 295-300 per share to Rs 294-300 per share. According to a statement by the company on Monday, the IPO saw participation by marquee investors like Massachusetts Institute of Technology and Vantage Equity Fund. However, benchmark indices have witnessed fall of 20 per cent since the filing of the red-herring prospectus driven by the potential economic impact of the coronavirus outbreak and crude oil price shock. "As the global situation around Covid-19 continues to evolve, investors appear to have entered risk-off mode, leading to investment decisions being impacted. Despite the company deciding to extend the IPO, unprecedented swings in the benchmark indices and a spurt in the Nifty VIX index to its highest in nearly a decade, have rendered market conditions unfavourable for completion of the IPO," it added. The statement further said, "The company's business continues to do well with strong tailwinds and the decision to withdraw the IPO will not impact the long-term prospects of the company." The IPO comprised a fresh issue of Rs 35 crore and an offer-for-sale of 57 lakh shares. The company's IPO was open for bidding from March 4. The equity markets suffered extreme panic selling last week, where the key Sensex plunged 3,473.14 points in total. On Monday, the key index yet again plunged 2,713.41 points or 7.96 per cent. Equirus Capital was the book running lead manager to the offer. SUM HRS

Antony Waste Handling Cell withdraws IPO

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

New Delhi, India on Saturday announced the launch of the <keyword id="16473623" type="General" weightage="20" keywordseo="Global-Biofuel-Alliance" source="Orion">Global Biofuel Alliance</keyword> and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20 per cent. Speaking at the G20 Summit session on 'One Earth', Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> also proposed launching the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to commence work on the 'Green Credit Initiative'. "Today, the need of the hour is that all countries should work together in the field of fuel blending. Our proposal is to take an initiative at a global-level to take ethanol blending in petrol up to 20 per cent," he said. "Or alternatively, we could work on developing another blending mix for the greater global good, one that ensures a stable energy supply while also contributing to climate security," Modi said at the session attended by US President Joe Biden, Saudi Arabia Crown Prince Mohammed bin Salman, and UK Prime Minister Rishi Sunak among others. The prime minister said energy transition is a significant need of the 21st century world considering the challenge of climate change. He said trillions of dollars are required for an inclusive energy transition and that the developed countries play a very crucial role in this. "Along with India, all the countries of the Global South are pleased that developed countries have taken a positive initiative this year, in 2023. Developed countries have expressed their willingness to fulfil their commitment of USD 100 billion for climate finance for the first time," he said. At the Copenhagen UN climate talks in 2009, developed countries had committed to providing USD 100 billion per year by 2020 to support developing countries in combating climate change. However, the wealthier nations failed repeatedly to fulfil this commitment. The Global Biofuels Alliance, which the world's third biggest oil consumer wants to push during its G20 presidency, mirrors the <keyword id="3155010" type="General" weightage="80" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> (ISA) piloted by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all. Earlier this month, Prime Minister Narendra Modi in an exclusive interview told PTI that India's proposal for a global alliance on biofuels among members of the Group of 20 major economies would help accelerate sustainable biofuels deployment in support of the global energy transition. "Such alliances are aimed at creating options for developing countries to advance their energy transitions," he had said. "Biofuels are also important from the perspective of a circular economy. Markets, trade, technology, and policy all aspects of international cooperation are crucial in creating such opportunities," Modi had said. <keyword id="53632" type="General" weightage="80" keywordseo="biofuel" source="Orion">Biofuel</keyword> is a renewable source of energy which is derived from biomass. India, which imports over 85 per cent of its crude oil needs, is gradually building capacity to produce fuel from such items as crop stubble, plant waste, and municipal solid waste. While India is on schedule to double the mixing of ethanol extracted from sugarcane and agriculture waste to 20 per cent with petrol by 2025, it is also setting up dozens of compressed biogas (CBG) plants. The Global Biofuels Alliance is aimed at facilitating cooperation and intensifying the use of sustainable biofuels across sectors, including transportation. Its focus is primarily on strengthening markets, facilitating global biofuel trade, developing concrete policy lesson-sharing and providing technical support for national biofuel programmes worldwide. Such an initiative is also aimed at helping India's transition to alternative fuels and cutting its import bill, as it seeks to achieve its net zero carbon emissions goal by 2070. On the other hand, the ISA aims to mobilise more than USD 1,000 billion of investment needed by 2030 for the massive deployment of solar energy. The <keyword id="69313" type="General" weightage="50" keywordseo="international-energy-agency" source="Orion">International Energy Agency</keyword> (IEA) estimates that global sustainable biofuel production would need to triple by 2030 to put the world's energy system on track towards net zero emissions by 2050. Liquid biofuels provided more than 4 per cent of the total transport energy supply in 2022.

G20 Summit: PM Modi announces launch of Global Biofuel Alliance

<ul class="summary-list"><li>In a breakthrough, Australian scientists found two fungi that can break down plastics in 140 days.</li><li>It was the "highest degradation rate reported" worldwide, scientists at the University of Sydney <a href="https://www.abc.net.au/news/2023-04-15/plastic-eating-fungi-discovery-raises-hopes-for-recycling-crisis/102219310?utm_source=newsshowcase&amp;utm_medium=discover&amp;utm_campaign=CCwqFwgwKg4IACoGCAow3vI9MPeaCDDkorUBMKb_ygE&amp;utm_content=bullets" target="_blank" rel="noopener">said</a>.</li></ul>Australian scientists say they have successfully found a way to use a backyard mold to break down stubborn plastics, showing potential for improving the low recycling rate for some plastics. Scientists at the University of Sydney discovered through experiments that they could use two types of mold commonly found in plants and soil – Aspergillus terreus and Engyodontium album — to break down stubborn plastic, according to findings published in the science journal npj Materials Degradation, the <a href="https://www.abc.net.au/news/2023-04-15/plastic-eating-fungi-discovery-raises-hopes-for-recycling-crisis/102219310?utm_source=newsshowcase&amp;utm_medium=discover&amp;utm_campaign=CCwqFwgwKg4IACoGCAow3vI9MPeaCDDkorUBMKb_ygE&amp;utm_content=bullets" target="_blank" rel="noopener">Australian Broadcasting Corporation</a> reported on Friday.It took about 140 days for the fungi to fully break down the plastics tested."It's the highest degradation rate reported in the literature that we know in the world," Ali Abbas, a chemical engineering professor at the university, told the Australian Broadcasting Corporation. It is optimistic news after a 2022 <a href="https://www.greenpeace.org/usa/reports/circular-claims-fall-flat-again/" target="_blank" rel="noopener">report</a> from Greenpeace found that the vast majority of plastics that are recycled in the US wind up in the ocean or in landfills, which emit hazardous pollutants into the air. Just 5% of plastics were actually recycled into new items, according to <a href="https://www.npr.org/2022/10/24/1131131088/recycling-plastic-is-practically-impossible-and-the-problem-is-getting-worse" target="_blank" rel="noopener">NPR</a>. Lisa Ramsden, a senior plastic campaigner for Greenpeace USA, told NPR at the time that industries may triple plastic production by 2050, exacerbating the problem. "More plastic is being produced, and an even smaller percentage of it is being recycled," Ramsden told NPR. According to the <a href="https://news.climate.columbia.edu/2020/03/13/fix-recycling-america/" target="_blank" rel="noopener">Columbia Climate School</a>, plastic recycling remains a major challenge in the waste industry because it is often contaminated by food and other items. The US generated 292.4 million tons of municipal solid waste in 2018, and just 94 million tons – or about 32% – were recycled or composted, according to the <a href="https://www.epa.gov/facts-and-figures-about-materials-waste-and-recycling/national-overview-facts-and-figures-materials#NationalPicture" target="_blank" rel="noopener">US Environmental Protection Agency</a>. Meanwhile, some 146 million tons (or 50%) of waste was landfilled, and 35 million (or about 12%) tons of waste were combusted, according to the agency. At the University of Sydney, scientists are testing the degradation process of the fungi to see how they can make it more efficient and ready for commercial-scale use, according to the Australian Broadcasting Corporation.The research process could take the next three to five years, Abbas said, adding that a litany of behavioral and business issues would need to be addressed in the meantime. "We can't afford to wait, we do need to act," Abbas said, per the Australian Broadcasting Corporation. "We need the behavioral issues, we need the social issues, we need the business issues, all of these need to be resolved around the plastics problem. The technology is only half the solution."

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