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Billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>'s group will supply <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> to power Google's cloud services and operations in India, the two firms said on Thursday. <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> will supply 61.4 megawatt of electricity from a new <keyword id="21342349" type="General" weightage="20" keywordseo="solar-wind-hybrid-project" source="keywords">solar-wind hybrid project</keyword> located at its 30 gigawatt (GW) Khavda renewable energy park in Gujarat. <br /><br /> Google powers most of its cloud operations and services through electricity procured from the grid and is planning to run the entire operations on clean energy by 2030. <br /><br /> Adani is expected to start commercial operations in the third quarter of 2025. <br /><br /> At the '<keyword id="23413952" type="General" weightage="20" keywordseo="Google-for-India" source="keywords">Google for India</keyword>' event, the search giant also announced a partnership with CleanMax for sourcing 125.4 MW of clean energy to power its offices and cloud regions in India. <br /><br /> Of the contracted volumes, 66 MW solar energy will come from Rajasthan and 59.4 MW wind energy from Karantaka. <br /><br /> "These projects are expected to start commercial operations in Q4 2025 and will deliver <keyword id="22243112" type="General" weightage="20" keywordseo="carbon-free-energy" source="keywords">carbon-free energy</keyword> to the grid where Google operates offices and cloud regions in India," Google said. <br /><br /> While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. <br /><br /> "Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said. <br /><br /> This innovative collaboration will help advance Google's 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> of Google in India. <br /><br /> Adani had previously announced plans to set up data centres run on clean energy. It had in October 2022 leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google.

Adani to supply clean energy for Google's cloud operations in India

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. <br /><br />In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. <br /><br />This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. <br /><br />As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". <br /><br />The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. <br /><br />The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. <br /><br />The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. <br />The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

SEBI proposes expansion of sustainable financial framework in securities market

In a “groundbreaking" discovery, the European Space Agency (<keyword id="20401597" type="General" weightage="20" keywordseo="ESA" source="keywords">ESA</keyword>) has officially confirmed what scientists, environmentalists, and pretty much every living organism has known for millennia: Earth is habitable. Yes, you heard that right. Thanks to a flyby from ESA’s Jupiter Icy Moons Explorer (JUICE) spacecraft on August 20, we now have <em>yet another</em> confirmation that Earth hosts life. Phew, glad to get that settled.<br /><h2>A quick Earth check-up</h2>Now, you might be wondering why ESA's shiny new spacecraft, designed to explore Jupiter's icy moons, is double-checking whether Earth is alive and kicking. Was it a slow news day? Did the spacecraft get lost on its way to Jupiter? Did scientists wanted to reconfirm given all the anthropogenic destruction?<br /><br />Launched in April 2023, JUICE is on an epic eight-year journey to the outer solar system, where it will study Jupiter’s moons — Ganymede, Callisto, and Europa — all of which might have oceans hidden beneath thick layers of ice. These oceans could potentially support life. But before JUICE gets to analyse alien seas, the team needed to make sure its instruments were working properly. And what better place to practise than the only planet we know has life?<br /><br />As Olivier Witasse, ESA’s JUICE project scientist, noted, "We are obviously not surprised by these results; it would have been extremely concerning to find out that Earth was not habitable!"<br />  <div type="Article" hostid="261" msid="113458367" title="The Earth had a Saturn-like ring of its own once, a shocking new study has suggested" mstype="2" mssubtype="0"></div>Scientists define ‘habitability’ as having conditions necessary to life to arrive and survive. Unsurprisingly, ESA instruments detected a cocktail of <keyword id="23237780" type="General" weightage="20" keywordseo="life-sustaining-ingredients" source="keywords">life-sustaining ingredients</keyword> on Earth: water in the atmosphere, as well as carbon, hydrogen, nitrogen, oxygen, phosphorus, and sulphur, commonly referred to as the "CHNOPS" elements. These are the are the most common ingredients of living organisms on any planetary body.<br /><h2>Off to Jupiter!</h2>During its <keyword id="23237782" type="General" weightage="20" keywordseo="Earth-flyby" source="keywords">Earth flyby</keyword>, JUICE used two of its instruments — the Moons and Jupiter Imaging Spectrometer (MAJIS) and the Submillimeter Wave Instrument (SWI) — to scan our home planet. Now that JUICE has confirmed that its instruments are functioning properly, it can focus on its primary mission — determining if life could exist elsewhere in our solar system. <br /><br />JUICE is taking a short cut to Jupiter through the inner Solar System, after it completed the world-first lunar-Earth flyby last month. When the spacecraft finally reaches Jupiter's moons, it will repeat the same tests it ran on Earth, analysing the moons’ atmospheres and surfaces for any signs of life.<br />  <div type="Article" hostid="261" msid="113349504" title="Do we really need so many satellites?" mstype="2" mssubtype="0"></div>Interestingly, JUICE also gathered data on Earth's atmosphere, including its oxygen and carbon dioxide levels, to serve as a benchmark. If the Jovian moons have similar concentrations of these gases, scientists might be looking at potential homes for future space fish — or, more realistically, microbes.<br /><br />While this might not be the most shocking news of the century, it’s still a fun reminder of how unique our little blue planet is — at least until we find something similar in the Jovian system. But for now, Earth keeps its status as the only known entity in our solar system that hosts life as we know it.<br />

It's official, folks! The ESA has finally confirmed that Earth indeed is still habitable (here’s why!)

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

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

<ul class="summary-list"><li>Amazon wants to expand its use of nuclear power to meet rising AI energy needs.</li><li>The company's energy strategy team recently pitched CEO Andy Jassy on the benefits of nuclear power.</li></ul><p>In June, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Amazon's</a> Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on <a target="_blank" class="" href="https://www.businessinsider.com/amazon-google-microsoft-openai-big-tech-investment-nuclear-ai-race-2024-10">nuclear power</a> to support its growing network of <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-energy-centers-water-energy-land-2023-10">data centers</a>.</p><p>The group argued that nuclear can be more reliable and cost-efficient than other clean energy sources, such as wind and solar. Jassy agreed, according to an internal Amazon document from the third quarter that was obtained by Business Insider.</p><p>"We have strong conviction that nuclear power is the most economical and credible path to scale carbon free energy to meet the next decade's rapid capacity growth," the company's energy strategy team wrote. "We took this conviction to <a target="_blank" class="" href="https://www.businessinsider.com/amazon-andy-jassy-wooed-wall-street-overhauled-bloated-tech-giant-2024-7">Andy Jassy</a> in June 2024, and received approval to execute against our proposed expansion to the carbon free energy strategy through new nuclear generation."</p><div type="image" title="Andy Jassy onstage at an event." height="1293" width="1940" msid="114563910" hostid="261" sizebytes="57026"></div><p>Fast forward a few months and Amazon's nuclear ambitions are becoming clearer. Last week, Amazon <a target="_blank" href="https://www.businessinsider.com/amazon-invests-in-nuclear-for-aws-following-google-and-microsoft-2024-10">led</a> a $500 million investment in X-energy to develop small modular reactors, following <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">an earlier deal</a> to buy power from a nuclear plant in Pennsylvania.</p><p><a target="_blank" class="" href="https://www.businessinsider.com/servicenow-ceo-bill-mcdermott-ai-software-2024-10">Generative AI</a> is the main reason for this sudden interest in nuclear energy. Running these new AI workloads in data centers requires <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-centers-energy-cloud-microsoft-chatpgt-amazon-google-2023-7">way more electricity</a> than traditional computing tasks. Burning <a target="_blank" class="" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">more coal</a> and other fossil fuels is bad for the environment, so nuclear is an attractive alternative, despite its checkered safety record.</p><p>Amazon sees nuclear as a key part of dealing with this AI-driven <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">surge in energy demand</a>. The company considered tapping into at least four additional existing nuclear power plants and sought even more small modular reactor deals. It also looked at other energy sources, such as geothermal, to meet long-term renewable energy goals, according to the internal document.</p><p>"Machine Learning, GenAl and commercial capacity demand continues to significantly outpace available power capacity globally and requires new solutions that are reliable, cost-effective and carbon free," the document explained, while noting that success in this space would help Amazon Web Services meet customer needs for sustainable data center capacity.</p><h2 id="9f054fc5-4a26-481d-81e9-4ebeece00b52">Amazon considers all solutions</h2><p>An Amazon spokesperson said the final details of the company's plans could be "very different from the preliminary ideas," and cautioned against drawing conclusions from an "outdated" document.</p><p>The cloud giant supports more than 500 solar and wind projects, and has been the largest corporate purchaser of renewable energy for four years in a row. It's also investing in emerging technologies through a Climate Pledge Fund, the spokesperson added.</p><p>"There isn't a one-size-fits-all solution for transitioning to carbon-free energy and we believe all viable and scalable options should be considered, so we frequently consider a wide range of projects before deciding which ones we move forward with," the spokesperson wrote in a statement.</p><h2 id="e4e8b6a9-955c-4738-a29e-1533eb23b75f">Big Tech's embrace</h2><div type="image" title="three mile island" height="1343" width="2000" msid="114563911" hostid="261" sizebytes="136424"></div><p>Amazon isn't the only big tech company embracing nuclear to meet AI's insatiable hunger for power.</p><p>Google recently <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">unveiled</a> a partnership with Kairos Power to build small modular nuclear reactors. OpenAI CEO Sam Altman loves talking about nuclear and has backed projects. Microsoft <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">struck a deal</a> to get power from the Three Mile Island nuclear plant.</p><p>That last deal highlights the nuclear industry's troubled past. In 1979, Three Mile Island <a target="_blank" class="" href="https://www.businessinsider.com/what-happened-three-mile-island-worst-us-nuclear-disaster-2019-8">experienced</a> a major disaster that stalled the US nuclear sector for decades. There have been even worse events in <a target="_blank" class="" href="https://www.businessinsider.com/category/chernobyl">Chernobyl</a> and <a target="_blank" class="" href="https://www.businessinsider.com/haunting-photos-of-the-fukushima-disaster-zone-2017-3">Fukushima</a>.</p><h2 id="991ea7a5-102b-4e4a-bbbd-ca9c560c342b"><strong>"Piano Man"</strong></h2><p>Prior to the June meeting with Amazon's Global Energy Strategy team, Jassy approved another nuclear plan in December 2023, according to the internal document obtained by BI.</p><p>Under that plan, codenamed "Piano Man," Amazon targeted existing nuclear plants that had spare capacity. The company wanted to sign agreements that gave it access to "dedicated, reliable power"<strong> </strong>in the future. The first project within this strategy was announced in March, when Amazon <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">agreed</a> to pay $650 million to purchase energy from a nuclear power plant in Pennsylvania, the internal document showed.</p><p>Amazon considered at least 4 other similar nuclear projects, the document stated. One was in Maryland for an option to use up to 0.88 gigawatt of energy. Another was in Texas for 1.2 gigawatts. There were two other arrangements in Pennsylvania for 0.96 gigawatt and 0.9 gigawatt of power each. In general, a one gigawatt plant is estimated to have enough capacity to power roughly 876,000 households for a year.</p><p>It is unclear whether Amazon is still looking into these types of "Piano Man" deals.</p><p>"There are limited pipeline opportunities after these projects, but we will continue to develop all feasible options," the document explained.</p><h2 id="8dc1cc69-aec8-4677-aef7-89452bc1e7b2"><strong>Learning curve</strong></h2><div type="image" title="The cooling towers of a nuclear power plant against a blue sky." height="1414" width="2121" msid="114563912" hostid="261" sizebytes="98642"></div><p>Amazon has also been "actively conducting due diligence" on more than a dozen opportunities in the small modular reactor space. As part of this, the company has developed relationships with utilities, nuclear construction companies, and the US Department of Energy, according to the document.</p><p>Nuclear power can be safer, more reliable, and more cost-efficient in the long term compared to other power sources, according to Jacopo Buongiorno, a nuclear engineering professor at MIT. However, he said some of the new advanced small modular reactors are still being tested and often use different designs and systems, making them a relatively riskier option.</p><p>"There will be a learning curve because some of these technologies are not mature yet," Buongiorno told BI.</p><h2 id="1b22c795-2c48-4282-8e9c-8728dc854c1e"><strong>Prioritize 'earlier access to power'</strong></h2><p>The internal Amazon document described the company's nuclear initiatives as part of a broader "non-standard" energy plan. The company also looked into power arrangements for natural gas plants and geothermal energy.</p><p>"As we drive development of first of a kind, non-standard energy sources within the industry, our scope is primarily medium to long term, supplying power in large amounts beyond 2030," the document stated.</p><p>In 2024, Amazon's goal is to deliver 8 gigawatts of incremental renewable energy, the document said. Amazon reached 4.1 gigawatts of renewable energy in 2023 and 10.2 gigawatts in 2022, it noted.</p><p>The internal document listed the main "tenets" that the Global Energy Strategy team follows. It emphasized delivering "highly reliable, cost-effective" power on time, and making bets on technologies that are "on the cusp of scaling and mass adoption."</p><p>It also stressed the need to find the earliest available power options.</p><p>"While we target obtaining large amounts of power over time, we will prioritize opportunities with the earlier access to power," it said.</p><p><strong><em>Do you work at Amazon? Got a tip?</em></strong></p><p><strong><em>Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (</em></strong><a target="_blank" rel="noopener noreferrer nofollow" class="c-link"><strong><em><u>+1-650-942-3061</u></em></strong></a><strong><em>) or email (</em></strong><a target="_blank" href="mailto:ekim@businessinsider.com"><strong><em><u>ekim@businessinsider.com</u></em></strong></a><strong><em>). Reach out using a nonwork device. Check out Business Insider's </em></strong><a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10"><strong><em><u>source guide</u></em></strong></a><strong><em> for other tips on sharing information securely.</em></strong></p>

Inside Amazon's nuclear ambitions, its 'Piano Man' project, and CEO Andy Jassy's support

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

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

As the global urgency to combat <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> intensifies, all eyes are on India's <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword>, as there’s no better way to walk the talk than allocating funds. Speculation is rife about the potential measures the government may introduce to accelerate the transition to a sustainable energy future — a move that is supremely necessary after the slew of deadly climate catastrophes that we saw last year.<br /><br />India’s Union Budget 2024 will be presented by Finance Minister Nirmala Sitharaman in a couple of days, and is expected to reflect the nation’s commitment to achieving <keyword id="21280854" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net-zero carbon emissions</keyword> by 2070. Here are some of the key initiatives from the interim budget that was presented in February earlier this year, along with their anticipated impacts!<br /><h2>Rooftop Solarisation</h2>One of the most talked-about initiatives is the ambitious rooftop solar programme, which aims to provide free electricity up to 300 units per month to one crore households. If implemented, this move will help in not only cutting down energy bills — a godsend for the middle- and lower-income folks — but will also give households a chance to generate and even sell their surplus power.<br /><h2>Electric Vehicle (EV) Ecosystem</h2>Charging up the electric vehicle movement, the interim budget included measures to expand EV manufacturing and infrastructure in the country. The move aimed to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword>, reducing emissions from the transport sector and making your commute cleaner and greener. Additionally, the government seemed keen on encouraging the adoption of electric buses to make urban travel more eco-friendly.<br /><div type="Article" hostid="261" msid="111855546" title="Budget 2024: How will budget affect India’s position in the global space race?" mstype="2" mssubtype="0"></div><br /><h2><keyword id="20495045" type="General" weightage="20" keywordseo="offshore-wind-energy" source="keywords">Offshore Wind Energy</keyword></h2>Riding the winds of change, the interim budget introduced a viability gap funding for 1 GW of offshore wind energy. As per the Finance Ministry, this initiative aims to harness the power of India’s vast coastline, pushing the envelope on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> and reducing our fossil fuel dependency.<br /><h2><keyword id="22499996" type="General" weightage="20" keywordseo="national-green-hydrogen" source="keywords">National Green Hydrogen</keyword> Mission</h2>The interim budget also supercharged the National Green Hydrogen Mission with a massive boost to Rs 600 crore from last year’s Rs 297 crore. The government has continually insisted that Green Hydrogen is set to become the fuel of the future, and this announcement supports its development and adoption, paving the way for cleaner industrial processes.<br /><h2>Coal Gasification and Liquefaction</h2>Switching up the coal game, the interim budget plans to set up coal gasification and liquefaction projects that will be able to process 100 metric tonnes by 2030. These projects aim to make the most out of coal in a cleaner way, especially by reducing our reliance on imported natural gas and slashing emissions.<br /><div type="Article" hostid="261" msid="111827903" title="Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure" mstype="2" mssubtype="0"></div><br /><h2>Bioenergy and Biomass Aggregation</h2>Turning waste into wealth, the interim budget has also promised additional financial assistance for biomass aggregation. This, they explain, will help in creating a sustainable model for managing agricultural waste, promoting bioenergy production and giving farmers a new revenue stream.<br /><h2>Research and Development (R&amp;D)</h2>In a nod to innovation, the interim budget allocated a whopping Rs 1 lakh crore for interest-free financing in “sunrise” R&amp;D for emerging <keyword id="19931192" type="General" weightage="20" keywordseo="green-technologies" source="keywords">green technologies</keyword>. If the government follows through on this promise, the funding could catapult a wave of innovation, supporting the transition to a sustainable energy future.<br /><br />By focusing on renewable energy, reducing carbon emissions, and supporting green technologies, India’s initial budget allocations seem to be taking significant strides towards its net-zero goal. Whether this will ultimately pan out to become a greener and more resilient future for its citizens remains to be seen.<br />

Budget 2024: Key sustainability and energy initiatives that Indian government plans to implement this year

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers.<br /><br />Here's a breakdown of the key initiatives announced:<br /><h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications.<br /><h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power.<br />  <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div><br /><h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>.<br /><br />Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time.<br /><h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials.<br /><h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current '<em>Perform, Achieve and Trade</em>' mode.<br /><h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase.<br /><br />As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally.<br />  <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div><br /><h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change.<br />  <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div><br /><h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies.<br /><h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. <br /><br />All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.<br />

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

<ul class="summary-list"><li>Portland's Made in Old Town project aims to make a stateside manufacturing hub for sports-apparel makers.</li><li>Its backers Hilos and the Technology Association of Oregon hope to generate 6,000 jobs as soon as 2028.</li></ul><p>The Northeast is the ancestral home of footwear manufacturing in the US, where New Balance still assembles more than 4 million pairs of sneakers each year.</p><p>But much of the industry resides in Portland, Oregon, and its surrounding suburbs, home to well-known brands such as Nike, Columbia Sportswear, Keen, and the North American branch of Adidas. At least a dozen apparel companies, including Lululemon and Allbirds, have part of their operations stationed in the city.</p><p>Despite Portland's ties to the footwear and sports-apparel industries, it isn't typically considered a manufacturing hub. But that could soon change with a plan for a $125 million development campus called Made in Old Town. The project aims to bring <a target="_blank" class="" href="https://www.businessinsider.com/the-future-of-shoe-manufacturing-in-america-2017-3">footwear and apparel manufacturing</a> to the industry's largest US design and product development hub by transforming four city blocks into 323,000 square feet of office space, sample rooms, apparel-manufacturing machines, retail space, and housing.</p><p>Backers of the project — including the startup Hilos and nonprofits like the Technology Association of Oregon — envision millions being reinvested in vacant and underused properties in Portland's Old Town neighborhood. The infrastructure would be available for rent to the region's roughly 300 sportswear brands, which could pay a monthly fee to use the various spaces for their production needs instead of relying on their typical overseas collaborations with Asian manufacturers.</p><p>The hope is that if more manufacturing capabilities are brought to the Portland region, brands can more quickly churn out designs for footwear and apparel, according to project backers. And faster production means brands can stay abreast of quick-to-change trends, in terms of both fashion and functionality, to turn greater profits in a highly competitive industry.</p><h2 id="72bfe22d-30f3-4f7f-b35b-886812fd22b4"><strong>Relying on Asian manufacturing for footwear production has its challenges</strong></h2><p>Nearly all shoes sold in the US are made abroad, mostly in Asian countries including Vietnam and China. The shift to manufacturing primarily in Asia was largely driven by major brands looking to reduce their manufacturing costs. For instance, <a target="_blank" class="" href="https://www.businessinsider.com/how-nike-changed-the-shoe-industry-2014-4">Nike moved its manufacturing to China</a> in the early 1980s.</p><p>Indeed, taking manufacturing overseas did lower costs, but this decadeslong shift also resulted in a decline in the total number of US footwear-manufacturing jobs. In 1990, there were an estimated 76,000 domestic jobs, compared with a little over 11,000 today, according to data from the Bureau of Labor Statistics.</p><p>"Factory owners and suppliers need to be globally competitive in manufacturing and need to be able to be closer to brands," Elias Stahl, the CEO of Portland's Hilos, told Business Insider.</p><p>With Hilos, a startup that sells software to make it easier for footwear brands to make their gear through 3D printing, Stahl has become a major backer of the <a target="_blank" href="https://www.madeinoldtown.org/">Made in Old Town</a> effort, including by recruiting former Nike and Adidas executives to serve on the project's board.</p><p>In addition to creating jobs, Made in Old Town backers hope to help speed up the manufacturing process for smaller brands. Apparel-design teams are largely in the US, so new designs for sneakers and shirts are typically created an ocean away from the plants where they're later produced. But if <a target="_blank" class="" href="https://www.businessinsider.com/the-fashion-industrys-plan-for-taking-jobs-back-from-china-2012-9">more manufacturing infrastructure was stateside</a>, it could aid in shoe-design rollouts, said Eric Liedtke, a former Adidas executive and the CEO and a cofounder of Unless, which makes plant-based footwear and apparel.</p><p>According to Liedtke, who's a Made in Old Town board member, startups would benefit from Made in Old Town if the space could bring together designers, manufacturers, and materials suppliers as intended. Today, many apparel brands' in-house US designers, engineers, and product marketers have to do multiple rounds of product-design development. They also have to make multiple trips to factories in Asia to complete in-person prototyping, which involves making a physical model of a shoe to experiment with its design, shape, and materials before settling on the final product.</p><p>To get around this back-and-forth, larger brands like Nike and Adidas have already created their own stateside sample rooms — spaces where prototypes of shoes and other sports gear are made — to consider design and material selections. They've also invested in digital tools to smooth the flow of information between their design teams in the US and manufacturing facilities abroad.</p><p>Smaller brands could also save a lot of time and money if those same resources, including 3D-printing capabilities and more in-person interfacing with materials suppliers, were brought closer to home, Liedtke said.</p><h2 id="b491fee2-1f66-4748-b94f-c08c470531f7"><strong>The sportswear industry is facing turbulent times</strong></h2><p>The <a target="_blank" class="" href="https://www.businessinsider.com/nike-alums-leading-top-sportswear-brands-like-lululemon-hoka-columbia-2022-11">legacy sportswear players</a> have struggled recently amid greater competition from upstarts like Alo Yoga, Vuori, and Hoka. Nike has posted soft sales and told investors that a turnaround plan will take at least a few quarters.</p><p>Earlier this year, Adidas, based in Germany, reported its first annual loss in over 30 years as it posted a 16% sales drop in North America. And Under Armour has posted soft sales for several years, which has punished the company's stock.</p><p>The upheaval in the sports-apparel and footwear business has greatly affected the <a target="_blank" class="" href="https://www.businessinsider.com/sc/4-reasons-to-explore-portland-oregon-that-are-worth-the-trip">Portland region</a>, where Nike is based and brands like Adidas, Lululemon, Deckers Brands, and Under Armour have a large presence. Nike and Columbia Sportswear are among the major employers in the area that have <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nike-layoffs-2024-what-to-know-about-the-latest-job-cuts-1033076132?op=1">announced layoffs</a> due to the industry's shifting fortunes.</p><p>At the federal level, the US government has offered billions in subsidies to support manufacturing, mostly targeting the auto, semiconductor, and solar industries. In recent years, this has helped add hundreds of thousands of jobs in manufacturing.</p><p>This approach tends to focus on industries deemed vital for national security but lets industries like apparel fall by the wayside, Stahl said. But with some state- and private-industry funding, the sportswear industry could be revitalized in Portland and beyond, Stahl added.</p><p>With the Made in Old Town project, the aim is to generate about 6,000 full-time jobs in Portland by as soon as 2028.</p><h2 id="d7c07cf7-f329-44dc-9c51-e6c17986ef3b"><strong>Lessons learned from Adidas' Speedfactory flop</strong></h2><p>When Liedtke worked at Adidas, he spearheaded an effort to reroute footwear manufacturing to local markets and closer to the shoppers buying the brand's sneakers to boost innovation and sales.</p><p>Adidas opened two automated manufacturing facilities, called Speedfactories, in Atlanta and Germany, but both closed within just a couple of years. "We gave it our best effort. It just didn't work out," Liedtke told BI.</p><p>He said the model was partly flawed because the technology could not account for quickly changing fashion trends. Only one shape of footwear could be created at a time, limiting production efforts.</p><p>Liedtke said the Adidas Speedfactory flop taught him the importance of getting support from materials suppliers. For example, if materials suppliers are incentivized to set up their sampling and prototyping equipment in Portland, brands there can work through the early stages of footwear design and production more quickly. This approach would make them similar to automakers in the US, who can still make their cars and trucks stateside because many auto-parts suppliers have stationed themselves in the Midwest.</p><p>Right now, the plan is to dedicate about half of the Made in Old Town space's square footage to sampling and prototyping machinery and <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/what-is-3d-printing">3D printers</a>. As for replacing manufacturing abroad altogether: "That's way down the road," Liedtke said.</p><h2 id="4c011cef-4f3c-4036-98dc-8f14be1dc3c1"><strong>A long way to go</strong></h2><p>The Made in Old Town project is still in its early stages, having raised $15 million of its $125 million goal. Oregon lawmakers have set aside just $2 million to support Made in Old Town after Gov. Tina Kotek approved the funding in April.</p><p>No brands have publicly disclosed their interest in joining the campus or made any financial investments to support Made in Old Town, and the initiative's backers say an additional $120 million will be needed from brands, suppliers, and manufacturers to support investments in local talent and equipment.</p><p>For 2024, the focus is on creating a system that can support startup-size brands who want to speed up their footwear-design and -manufacturing processes, Noel Kinder, Nike's former chief sustainability officer and a member of the Made in Old Town board, said.</p><p>"The vision is to accelerate the pace of innovation," Kinder said. "The intention is not to replace the hundreds of millions of pairs of shoes that are made all over the world."</p>

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