Sustainability Outlook Headlines

Japan denies seeking waiver from Kyoto targets

Japan on Tuesday denied a report that it would ask for an exemption from binding Kyoto climate pledges, which expire next year.

The Nikkei newspaper said Japan will need to reduce its emissions targets due to increased use of fossil-fuel power plants to deal with an electricity shortage, after the March 11 earthquake and tsunami damaged a nuclear plant.

It said a national delegation was discussing the issue at a UN climate meeting in Bangkok, and plans to ask for an exemption from penalties at the COP 17 climate conference in South Africa at the end of this year.

... Read more..

Greening India's deserts with olives

Rajasthan, India's popular tourist state, is famous for its sprawling palaces, historic forts, vast tracts of desert and celebrity weddings. Olives may be added to the list. The state is trying to grow the fruit on a large scale in India for the first time, in its deserts and semi-arid areas, and there are signs of success.

Not only would olive cultivation introduce struggling farmers in the state's ailing and neglected agricultural sector to a lucrative cash crop and boost the local economy. It would also satisfy the growing domestic demand for healthy olive oil in the country,... Read more..

China to Tax Energy Usage of Energy-Intensive Industrial Sectors

China will impose tax on energy usage of eight industrial sectors which have the highest energy usage in the country. The eight sectors include iron & steel, aluminum and cement. The Chinese agencies have divided the industrial units into two categories, seemingly according to their energy usage and efficiency.

The units which lag others in energy efficiency and has very high energy usage will be taxed ¢20 per kWh of the electricity consumed. While the second category of relatively more efficient units will face a surcharge ¢5 per kWh of electricity consumed.

The energy... Read more..

India's Suzlon Energy to issue foreign currency convertible bonds

India's Suzlon Energy , the world's third-biggest wind turbine maker, said on Monday it would issue foreign currency convertible bonds, due in 2016.

The floor price for the conversion of the bonds will be 46.05 rupees, the company said in a statement.

Earlier, the company said it had raised its stake in Repower Systems AG (RPWGn.DE) to 95.16 percent from 91 percent.
 

India Delays Start of $3 Billion Energy-Savings Market

India’s launch of a program that is expected to create a $3 billion-a-year market for companies to trade energy-savings credits will be delayed by at least a month, a government official said.

The country was scheduled to assign targets starting today to some of the nation’s most energy-intensive industries to reduce the amount of power they consume. The aim is to lower fuel consumption in Asia’s second-biggest energy consumer.

The program is still awaiting approval from the power ministry, said Saurabh Diddi, energy economist at the Bureau of Energy Efficiency, which is... Read more..

India Delays Start of $3 Billion Energy-Savings Market

India’s launch of a program that is expected to create a $3 billion-a-year market for companies to trade energy-savings credits will be delayed by at least a month, a government official said.

The country was scheduled to assign targets starting today to some of the nation’s most energy-intensive industries to reduce the amount of power they consume. The aim is to lower fuel consumption in Asia’s second-biggest energy consumer.

The program is still awaiting approval from the power ministry, said Saurabh Diddi, energy economist at the Bureau of Energy Efficiency, which is... Read more..

Japan may review 2020 emission cut target: report

Japan may review its emission reduction pledge for 2020 after a massive quake and tsunami last month set off a crisis at the Fukushima nuclear power plant, Japanese media quoted a senior environment ministry official as saying.

Japan's nuclear crisis after the March 11 quake and tsunami stretched to more than three weeks with engineers struggling to cool down the troubled nuclear plant in Fukushima, in northeast Japan, and to prevent radiation from leaking.

"It is true that our reduction target will be affected significantly," Hideki Minamikawa, vice minister for global... Read more..

U.S. firm offers help to Indian industry in emission cut

As Indian industry continues with its growth in the coming years, the U.S.-based Carbon Credit Capital (CCC) has offered companies and corporations help in cutting down their emissions and improve their efficiency in a unique way.

As a leading player in the international carbon credit financing business, CCC plans to popularise its greenhouse gas reduction and risk management solutions to large industrial emitter companies in India.

“The fast-growing Indian industry is in a position to take advantage of the unique opportunity they have in the carbon market. Several companies... Read more..

JBIC inks 2 loan deals worth $348.8 mln with ICICI- Nikkei

The Japan Bank for International Cooperation (JBIC) on Friday signed two syndicated loan deals worth a combined 32 billion yen ($384.8 million) with India's second-largest lender, ICICI Bank , the Nikkei business daily reported.

JBIC and Bank of Tokyo-Mitsubishi UFJ will provide ICICI Bank with a 15.3 billion yen ($183.9 million) syndicated loan, the paper said.

ICICI Bank will use the money to support a joint efforts by Mitsubishi Heavy Industries Ltd and India's top engineering and construction company Larsen & Toubro in the area of coal-fired power plants, the Nikkei... Read more..

India enters top 10 clean energy investment list

India has made its entry into the top 10 clean energy investment list among the G-20 countries. In 2010, India attracted $4 billion in private investments, ranking 10th among the member countries.

The G-20 members account for 90 per cent of global clean energy finance and investment. India also ranked 10th for five-year growth rates for renewable energy capacity, and seventh worldwide in the amount of installed capacity, according to ‘Who's Winning the Clean Energy Race? 2010 Edition' released by The Pew Charitable Trusts on Tuesday.

“With a target of deploying 20 gigawatts... Read more..

Ex-Im Bank to Finance Infinia, First Solar Projects in India

The U.S. Export-Import Bank will provide $49 million in financing for two solar energy projects in India that will use systems from U.S. companies.

The bank authorized a $30 million loan to Dalmiapuram, India-based project developer Dalmia Solar Power Ltd. for a 10- megawatt project using solar-thermal systems from Infinia Corp., it said yesterday in a statement.

Export-Import Bank, of Washington, also will provide a $19 million loan for ACME Solar Technology (Gujarat) Pvt. to install 15 megawatts of Tempe, Arizona-based First Solar Inc. (FSLR)’s thin- film... Read more..

India Launches Black Carbon Research Initiative Under Its National Carbonaceous Aerosols Programme

India today launched the Black Carbon Research Initiative as part of the National Carbonaceous Aerosols Programme (NCAP). This is a joint initiative of several government ministries and leading research institutions. It will be headed by Prof. J Srinivasan of the Indian Institue of Science, India’s leading authority on black carbon. 

Present at the launch was Prof. V. Ramanathan, Director of the Center for Clouds, Chemistry and Climate at Scripps Institute of Oceanography, and one of the world’s leading authorities on Black Carbon. He congratulated the Ministry on this... Read more..