Sustainability Outlook Headlines

ICAI issues new guidelines for realty, carbon trading cos

Real estate companies and companies involved in carbon trading will have to change the way they recognise revenues. It's all thanks to a new guidance note issued by the Institute of Chartered Accountants In India (ICAI), reports CNBC-TV18's Payaswini Upadhyay.

In a move to reduce the disparate practices of revenue recognition by real estate companies, ICAI has issued a guidance note identifying threshold limits when revenues from projects can be recognised.

These thresholds are:

    When all critical regulatory approvals are secured
    When 25% of the project is... Read more..

EU reiterates charging airlines for emissions even as India opposes

The European Union reiterated that it was not going to put on hold its controversial decision to charge airlines taking off and landing in Europe for emissions.

India had asked the EU to consider postponing the implementation of the controversial decision in order to work out a solution acceptable to all was worked out. Instead, the EU has asked that countries opposing the inclusion of aviation in the trading scheme bring a positive agenda or an laternative plan to the table, instead of being negative.

India is among the 20-odd countries opposing the inclusion of aviation in... Read more..

IIM-A's 'BSE-GREENEX' index to reveal carbon emission by companies

The carbon footprints' index that IIM-A has prepared for BSE-listed companies will be called 'BSE-GREENEX' and has a punch-line saying 'Invest in Green India'. The index, which is meant to reveal the amount of carbon emission by the companies, will be launched by BSE on February 22 at BSE's convention hall in Mumbai.

The idea of introducing the index is to enable investors to mitigate their financial risks connected to future climate change. IIM-A prepared the index for BSE-listed companies by analyzing their annual reports from the last four years. BSE will also launch a guideline... Read more..

EU Carbon Tax Regulations Likely To Be Accepted By Non-European Countries

Once rhetoric surrounding a brewing "carbon trade war" has cooled, non-EU countries are likely accept charges against carbon emissions on their flights arriving in and departing from the European Union.

Opposed countries including the United States, China and India are meeting in Moscow this week, disgruntled over the perceived injustices of the EU scheme which applies a charge on the entire carbon emissions of flights including those parts outside EU airspace.

At most they will likely warn the EU, and demand that the U.N. body, the International Civil Aviation Organization (... Read more..

Green panel slams 'faulty' govt policies

The Western Ghats ecology expert panel (WGEEP) has slammed the state government for its “seriously defective” environment clearance policy.

In its report, the WGEEP has targeted the state government for outrightly rejecting public opinions against the mining project in Sindhudurg’s Kalne.

“Despite unanimous rejection of the mining proposal, the Maharashtra government went ahead and accorded environmental clearance to the mine on March 17, 2009. In the absence of any transparent, participatory monitoring process, the conditions imposed while according environmental clearance... Read more..

BRAI Bill: Greenpeace at Mamata’s door

Perhaps encouraged by Miss Mamata Banerjee's record of vetoing important UPA initiatives recently, Greenpeace is urging the West Bengal chief minister to help scuttle the Biotechnology Regulatory Authority of India (BRAI) Bill.

The Bill, which was drafted by the Ministry of Science and Technology, and tabled during Parliament's Monsoon Session last year, is likely to come up for discussion during the Budget Session in March. Its stated objective is to "promote safe use of Modern Biotechnology in India and set up a regulatory body for the purpose."

The Greenpeace effort comes... Read more..

Need to revolutionise use of biofuel stressed

Y.B. Ramakrishna, Executive Chairman of the Karnataka State Biofuel Development Board, has said that use of biofuel as an alternative to fossil fuels in the country should be revolutionised.

He was addressing a seminar on ‘Blending biodiesel for backup generators used in buildings' at the National Institute of Engineering here on Saturday. Local communities should be encouraged to cultivate biofuel plants, he added.

Cost-effective

Laying stress on the need to use biofuel to cut down carbon emission and bring down environmental pollution, Mr. Ramakrishna said it was... Read more..

Intersolar exhibitors encouraged to apply for the 2012 Intersolar Award

Celebrating its 5th anniversary this year, the Intersolar Award is soliciting Intersolar exhibitors to apply for the award between February 1 and March 30. Up to three winners from the Photovoltaics, Solar Thermal Technology and PV Production Technology categories will be announced at Intersolar Europe on June 13 in Munich. The event’s organizers note that for the first time, exhibitors from Intersolar China can present their application for the award, joining exhibitors from Intersolar Europe, North America and India.

This year also marks the introduction of a new prize category,... Read more..

Greenko to add 165 MW wind farms in Maharashtra by May

Greenko Group, a listed entity of the Alternative Investment Market of London Stock Exchange, focussing on clean energy power plants, is set to commission 165 MW wind energy farms in Maharashtra by May, taking its installed capacity of power generation from about 220 MW now to about 385 MW.

The Managing Director and CEO of the Hyderabad-based Greenko, Mr Anil Chalamalasetty, told Business Line that the company is at an advanced stage of commissioning these wind energy assets located in Satara district of Maharashtra.

This would take the company energy generation capacity up... Read more..

US not in favour of riders on local sourcing

Mr Francisco Sanchez, Under Secretary of Commerce for International Trade, US Department of Commerce, today reiterated his Government's view that imposition of local content requirement is not the best way of fostering development of domestic industry.

Mr Sanchez is here leading a US business delegation to ‘explore opportunities in the Ports and Maritime Technology sector'. The official had come to Hyderabad in November last year, where he had said the same thing.

He had then said, in the context of localisation requirement in the solar equipment industry imposed by the... Read more..

Hopes pinned on phase II of JNNURM scheme

Expectations are running high among elected representatives of the civic body and city residents as well over the possibility of Tiruchi City being included under the phase II of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) as the project could give a boost to the city's infrastructure development.

The city missed out on the project a few years back, despite several attempts made by the then elected representatives, primarily on the criterion that the city should have a minimum population of 10 lakh to be eligible for inclusion. Though it was subsequently claimed,... Read more..

Going green, with a large side order of mercury

Steady release of mercury into the air, soil and water poses a significant health risk. But, it appears, not for policymakers in India. Annually, a large amount of this toxic, complex metal is simply dumped into municipal landfills or released into the air from a “green” source — the millions of fluorescent lamps that are at the forefront of efforts to reduce power demand and carbon emissions.

Yearly, India's domestic production of fluorescent tube lights (FTL) and compact fluorescent lamps (CFL) involves the use of about eight tonnes of mercury, and imported CFLs, another three... Read more..