<ul class="summary-list"><li>Russia needs a lot of ammo supplies to sustain its offensives in Ukraine, a NATO official said.</li><li>It's already turned to allies like Iran and North Korea to help replenish its stocks.</li></ul><p>Russia needs "significant" ammo supplies from countries other than Iran and North Korea in order to sustain its offensives in Ukraine, a senior NATO official said, <a target="_blank" href="https://www.reuters.com/world/europe/russia-lacks-munitions-troops-big-ukraine-offensive-says-nato-official-2024-07-09/">per Reuters</a>.</p><p>The unnamed official shared NATO intelligence with reporters ahead of the military alliance's annual summit in Washington, DC.</p><p>"To sustain real offensive operations, we think that Russia would have to secure significant ammunition supplies from countries beyond what it is already getting from Iran and from North Korea," they said, per Reuters.</p><p>Russia has turned to allies like North Korea and Iran to replenish its <a target="_blank" href="https://www.businessinsider.com/russia-desperate-need-for-weapons-ukraine-win-for-north-korea-2023-9">dwindling</a> ammunition stockpiles as its troops launch <a target="_blank" href="https://www.businessinsider.com/grinding-russian-offensive-reflects-putin-stated-war-plan-attrition-experts-2024-6">grinding offensives</a> in Ukraine and <a target="_blank" href="https://www.businessinsider.com/ukraine-fires-7k-rounds-a-day-russia-fired-60k-early-in-2023-report-2023-9">burn</a> through artillery shells.</p><p>While the total amount of ammo the two countries have sent to Russia is unclear, South Korea's defense minister <a target="_blank" href="https://www.businessinsider.com/north-korean-arms-factories-full-tilt-russias-war-south-korea-2024-2">said</a> in February that North Korean weapons factories were "operating at full capacity" making arms and ammunition for Russia.</p><p>He also said it had sent 6,700 containers to Russia since last August.</p><p>Meanwhile, Iran sent 300,000 artillery shells to Russia in 2023, an unnamed NATO official told <a target="_blank" href="https://edition.cnn.com/2024/03/10/politics/russia-artillery-shell-production-us-europe-ukraine/index.html">CNN</a> in March.</p><p>Russia has also ramped up its own production.</p><p>According to an <a target="_blank" href="https://www.businessinsider.com/russia-producing-shells-three-times-faster-cheaper-ukraines-allies-report-2024-5">analysis</a> by consulting firm Bain &amp; Company, reported by Sky News in May, Russia's armaments industry is expected to make or refurbish 4.5 million artillery shells this year — three times more than Ukrainian allies' 1.3 million expected shells.</p><p>However, even help from Iran and North Korea won't be enough for Russia to sustain offensive operations on the battlefield in Ukraine, according to the NATO official.</p><p>In addition to munition problems, Russia also faces a lack of manpower on the battlefield after its army suffered "very high" losses in Ukraine, the NATO official said, meaning it can't mount a large-scale offensive.</p><p>"Vladimir Putin would have to order a new large-scale mobilization," the official said, per Reuters, adding that Russia is having to "order undermanned, inexperienced units to move into areas to achieve unrealistic objectives."</p>

Russia needs 'significant' ammo from countries beyond Iran and North Korea to sustain Ukraine offensives, NATO official says

Sustainable Energy Policies

Sustainable Business Models

Sustainable Packaging Choices

Sustainable Tourism Destinations

Sustainable Farm-to-Table Practices

Sustainable Energy Transition

New Delhi [India], May 17 (ANI): The <keyword id="19997196" type="General" weightage="20" keywordseo="growth-rate" source="keywords">growth rate</keyword> of the <keyword id="20130581" type="General" weightage="20" keywordseo="world-economy" source="keywords">world economy</keyword> is expected to remain around 2.7 per cent in 2024, and 2.8 per cent in 2025, according to the World Economic Situation and Prospects report released by the Department of Economic and Social Affairs of <keyword id="19896118" type="General" weightage="20" keywordseo="United-Nations" source="keywords" meta.keywordsubtype="org" meta.entityname="United Nations" meta.hostid="261" meta.entityid="United Nations">United Nations</keyword>. The report added that global <keyword id="20280619" type="General" weightage="20" keywordseo="economic-prospects" source="keywords">economic prospects</keyword> have improved since January, with major economies avoiding a severe downturn, bringing down inflation without increasing unemployment.<br /><br />The current projections are up by 0.3 percentage points from the January forecast for the year 2024 and 0.1 percentage points for the next year, 2025.<br /><br />However, the <keyword id="19984748" type="General" weightage="20" keywordseo="UN-report" source="keywords">UN report</keyword> kept the world growth outlook in the cautiously optimistic category. The world body added that higher-for-longer interest rates, debt sustainability challenges, continuing geopolitical tensions and ever-worsening climate risks continue to pose challenges to growth, threatening decades of development gains, especially for least developed countries and small island developing States.<br /><br />The upward revisions mainly reflect a better outlook in the United States, where the latest forecast points to 2.3 per cent growth in 2024, and several large emerging economies, notably Brazil, India and the Russian Federation. The outlook for China registers a small uptick, with growth now expected to be 4.8 per cent in 2024, the report observed.<br /><br />On the other hand, it highlighted that the <keyword id="20256152" type="General" weightage="20" keywordseo="economic-outlook" source="keywords">economic outlook</keyword> for Africa has deteriorated since the last release, with expected growth lowered by 0.2 percentage points for 2024, threatening adverse impacts for many of the world's poor. On average, global growth in the coming years is expected to remain below the average of 3.2 per cent during 2010-2019.<br /><br />Going ahead, the report added that the softening international commodity prices and tight monetary stances adopted by most central banks have set the <keyword id="19916878" type="General" weightage="100" keywordseo="global-economy" source="keywords">global economy</keyword> on a disinflationary path, several <keyword id="20363245" type="General" weightage="20" keywordseo="developing-economies" source="keywords">developing economies</keyword> continue to grapple with stubbornly high inflation. Many developing economies also face challenges such as elevated borrowing costs, persistent exchange rate pressures, and lingering political instability.<br /><br />The stagnant employment situation in developing economies contrasts with that of developed economies, particularly in North America, Europe and Japan, where unemployment rates remain near record lows. Furthermore, the near-term outlook for certain economies is clouded by the potential intensification of geopolitical tensions and multiple conflicts across the world.<br /><br />In the wake of the growing use of minerals in electric vehicles and semiconductor components, the report highlighted that the energy transition can also be an opportunity for achieving the <keyword id="19950641" type="General" weightage="20" keywordseo="Sustainable-Development-Goals" source="keywords">Sustainable Development Goals</keyword> in many developing countries. <br /><br />"Countries endowed with critical mineral resources will, however, need smart policies, as well as effective implementation capacities to reap the benefits and avoid a renewed 'resource curse'," the report underscored.<br />

Global economy to grow 2.7% in 2024 as major economies avoid severe downturn: UN report

<keyword id="20499565" type="General" weightage="20" keywordseo="Tata-Realty" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Realty" meta.hostid="153" meta.entityid="Tata Realty">Tata Realty</keyword> on Monday said it has secured Rs 825 crore loan from the International Finance Corporation (<keyword id="20045916" type="General" weightage="20" keywordseo="IFC" source="keywords">IFC</keyword>) to refinance its green commercial project in <keyword id="19895758" type="General" weightage="20" keywordseo="Chennai" source="keywords">Chennai</keyword>. "This funding is earmarked for the strategic refinancing of <keyword id="22331996" type="General" weightage="20" keywordseo="Ramanujan-Intellion-Park" source="keywords">Ramanujan Intellion Park</keyword> in Chennai, a landmark development in <keyword id="22332052" type="General" weightage="20" keywordseo="sustainable-real-estate" source="keywords">sustainable real estate</keyword>," the company said. <br /><br /> Ramanujan Intellion Park has achieved a complete reduction of emissions through renewables or carbon off-sets, saving more than 20 per cent on water and embodied energy in materials while attaining over 42 per cent energy savings on-site. <br /><br /> Located strategically along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai, the 25.27-acre Ramanujan Intellion Park encompasses both a Special Economic Zone (SEZ) processing area and a non-processing zone. <br /><br /> <keyword id="19896352" type="General" weightage="20" keywordseo="Sanjay-Dutt" source="keywords">Sanjay Dutt</keyword>, MD &amp; CEO of Tata Realty, said, "The financing from IFC is a strategic investment in advancing our efforts to enhance the <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword> and climate resilience of Ramanujan Intellion Park." <br /><br /> Dutt said this funding would enable the company to continue its leadership in green building practices. <br /><br /> Elaborating more on the project, Tata Realty said this fully owned and operational <keyword id="20656703" type="General" weightage="20" keywordseo="IT-park" source="keywords">IT park</keyword> hosts between 40,000 to 60,000 professionals across its six buildings daily. <br /><br /> The IT park includes the Taj Wellington Mews Hotel facility, which offers 112 serviced apartments and a 1,500-seater convention centre in the non-processing zone. <br /><br /> This financing initiative is a part of Tata Realty's broader commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India, the statement said. <br /><br /> The funds will further integrate state-of-the-art sustainable technologies and practices at this flagship asset, which boasts a total leasable area of about 4.67 million sq ft of IT/ITES commercial office spaces. <br /><br /> Imad N Fakhoury, IFC's Regional Director for South Asia, said, "Business parks are key to greening the real estate sector, and Tata Realty's Ramanujan Intellion Park is at the forefront of this transformation." <br /><br /> Tata Realty and Infrastructure Ltd is a 100 per cent subsidiary of Tata Sons and one of the leading real estate development companies in India with an extensive portfolio of over 50 projects across 15 cities. <br /><br /> Tata Realty and Infrastructure Ltd has developed around 17.6 million square feet of commercial projects and has around 16.7 million square feet of projects under development &amp; planning.

Tata Realty raises Rs 825 crore from IFC to refinance green IT park project in Chennai

A day ahead of the final Budget presentation, India released the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-2024, outlining a plethora of optimistic — and some bittersweet — indicators of the health of the nation’s economy. When you consider the climate-related aspects of the report, there’s a ton of good news: we have achieved massive strides in clean power generation, while cutting out a ton of dirty emissions from our products.<br /><br />However, scroll down to the bottom of the report, and you find a scathing criticism of the “western” approach to climate change. Here's a closer look at why, and what clues do such narratives hold about India's <keyword id="22513472" type="General" weightage="20" keywordseo="environmental-strategy" source="keywords">environmental strategy</keyword> in coming years.<br /><h2>Problems with the “Western way”</h2>The major criticism, as per the survey, is that the Western approach to climate change is far too alarmist. They argue that this “one-size-fits-all” attitude often fails to account for the diverse needs of countries like India. To that end, it also points out that the Intergovernmental Panel on Climate Change (IPCC) promotes "accelerated and equitable mitigation pathways" that don't always align with the developmental priorities of <keyword id="20353838" type="General" weightage="20" keywordseo="developing-nations" source="keywords">developing nations</keyword>.<br /><br />Additionally, the report notes that Western solutions often prioritise market-based strategies to sustain high consumption levels rather than addressing the root issue of overconsumption. The survey emphasises that <keyword id="20224417" type="General" weightage="20" keywordseo="sustainable-living" source="keywords">sustainable living</keyword> is deeply ingrained in <keyword id="19983840" type="General" weightage="20" keywordseo="Indian-culture" source="keywords">Indian culture</keyword>, which contrasts sharply with the consumption-driven lifestyle prevalent in the West. This focus on high consumption misses the mark, as it doesn't consider the environmental impact of such lifestyles.<br /><br />And for the most part, this bit is true; Indian history is enriched with traditions that emphasise the conservation of nature. As <a href="https://onlinelibrary.wiley.com/doi/10.1155/2017/3828609">per estimates</a>, religious practices have preserved an estimated 1.5 lakh sacred groves across India, and natural conservation efforts can be traced back to the time of Ashoka.<br />    <div type="Article" hostid="261" msid="111925936" title="Economic Survey 2023-24: Where does India stand on the employment, and what&amp;#39;s next?" mstype="2" mssubtype="0"></div>Therefore, it may not be entirely inaccurate to say that in India, sustainability isn't a new concept; it's a way of life. Traditional Indian practices like using reusable materials, upcycling, and embracing minimalism have always promoted sustainability. The survey highlights that these practices are now threatened by Western capitalist ideals that equate consumption with progress. By returning to these roots, India can offer a model of sustainability that's both practical and culturally relevant.<br /><h2>Fixation on technical solutions</h2>The Economic Survey also critiques the Western obsession with high-tech solutions, such as solar-powered buildings and electric vehicles. These solutions require substantial financial and infrastructural resources that many developing countries simply don't have. Moreover, they often overlook the broader environmental impact and lifecycle costs associated with urban sprawl and high-density living. Instead, the survey suggests that simpler, more holistic solutions might be more effective and sustainable.<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>However, this does not mean that India refuses to embrace greener tech. Not only has the country launched various initiatives to promote energy efficiency and reduce carbon emissions, it also aims to to generate 40% of its energy from non-fossil fuel sources by 2030. As per the report, India is the only G20 country on track to meet the 2°C warming commitment under the Paris Agreement, with significant investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, particularly solar power.<br /><h2><keyword id="20269618" type="General" weightage="20" keywordseo="Mission-LiFE" source="keywords" meta.keywordsubtype="org" meta.entityname="Mission LiFE" meta.hostid="261" meta.entityid="Mission LiFE">Mission LiFE</keyword>: A sustainable initiative</h2>In order to help reinforce and rejuvenate the Indian way, the survey highlights Prime Minister Modi's Lifestyle for Environment initiative, or Mission LiFE. This initiative underscores individual responsibility in combating climate change, drawing from ancient Indian philosophy that advocates for a naturally sustainable lifestyle. By focusing on small, individual actions that collectively lead to significant environmental benefits, Mission LiFE contrasts sharply with the Western top-down policy approach. This grassroots strategy could be key to achieving real, lasting change, the report asserts.<br />    <div type="Article" hostid="261" msid="111927198" title="On the right track — Economic Survey 2023-24 outlines India’s commendable climate action" mstype="2" mssubtype="0"></div>All in all, the report challenges the dominance of Western policies and offers a pathway that could be more adaptable and relevant for other developing nations facing similar challenges. With its ongoing progress towards climate goals, India is well-placed to lead by example, showcasing a sustainable and culturally attuned approach to environmental stewardship.<br />

Why did the latest Economic Survey of India heavily shun the ‘Western ways’ of climate action?

Sustainable Fashion Brands

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

<keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), has expanded its partnership with <keyword id="20167467" type="General" weightage="20" keywordseo="Rolls-Royce" source="keywords" meta.keywordsubtype="org" meta.entityname="Rolls-Royce" meta.hostid="153" meta.entityid="Rolls-Royce">Rolls-Royce</keyword>, a British multinational specialising in civil aerospace, defence aerospace, services, and power systems, to advance sustainable aviation initiatives.<br /><br />According to a press release, the collaboration focuses on researching <keyword id="22499621" type="General" weightage="20" keywordseo="hydrogen-fuel-system-technology" source="keywords">hydrogen fuel system technology</keyword>, reinforcing the potential of hydrogen as a zero-carbon <keyword id="20178417" type="General" weightage="20" keywordseo="aviation-fuel" source="keywords">aviation fuel</keyword> of the future.<br /><br />TCS will supply engineering skills and support to Rolls-Royce to tackle three key challenges in enabling hydrogen for aviation- fuel combustion, fuel delivery, and fuel system integration with an engine. All elements must be validated for safe operation.<br /><br />This partnership highlights TCS's commitment to driving sustainable transformation across industries, aligning with its broader mission to harness technology for positive societal impact.<br /><br />The International Air Transport Association (IATA) has set targets for net zero carbon emissions by 2050.<br /><br />Alan Newby, Director, Research and Technology, Rolls-Royce, said, "We welcome TCS to our hydrogen research programme and their engineering skills will play a valuable role in addressing our technology goals. We've already made great progress and having TCS with us gives us additional capability as we move forward on our journey to enable the energy transition for the aviation sector."<br /><br />The expanded partnership was announced at the Farnborough International Airshow, where TCS also showcased its technological prowess in the aviation industry.<br /><br />This collaboration builds on a long-standing relationship between Rolls-Royce and the Tata Group, including engine development and a robust supply chain commitment.<br /><br />TCS has worked with Rolls-Royce since 2010 in areas such as design, manufacturing engineering, control systems, software, after-market services, and IT services, supporting major civil and business aviation programs and the end-to-end product development lifecycle.<br /><br />Anupam Singhal, President - Manufacturing, TCS, said, "The partnership between TCS and Rolls-Royce is an exciting one that represents a powerful alliance in the quest for <keyword id="22500175" type="General" weightage="20" keywordseo="sustainable-aviation-solutions" source="keywords">sustainable aviation solutions</keyword>. We are aligned with Rolls-Royce's ambition for a greener future. This partnership is the perfect opportunity to put our technological strengths and passion for the environment to use for advancing innovation and fostering an eco-friendlier aerospace sector."<br /><br />TCS will leverage its deep domain knowledge of the aircraft manufacturing industry to support Rolls-Royce's engineering activities such as system design, component design, supply chain support, and program management.<br /><br />These services will help Rolls-Royce research hydrogen technology to address the challenges of fuel combustion, fuel delivery, and fuel systems integration with an engine, ensuring all elements operate safely.<br /><br />Regu Ayyaswamy, Senior Vice President and Global Head- Internet of Things and Digital Engineering, TCS, said, "TCS and Rolls-Royce have been partners in advancing engineering excellence for nearly a decade. The new partnership for research into hydrogen fuel systems represents a pivotal next step at a time when the aviation industry is faced with the urgent challenge of reducing carbon emissions while maintaining performance and efficiency. It aligns well with TCS' commitment to harness technology for positive societal impact and building a greener future."<br /><br />TCS has been on a mission to harness the power of technology for positive societal impact and drive sustainable transformation across industries.<br /><br />With more than 200 sustainability offerings, TCS is helping customers around the world in their sustainability journeys. As a Tata group company, TCS is also conscious of its impact on the environment.<br /><br />In 2021, TCS set an ambitious sustainability target to reduce its absolute emissions by 70 per cent across Scope 1 and Scope 2 by 2025 from the baseline year 2016 and to achieve net zero by 2030.<br /><br />By FY24, TCS had already reduced its absolute carbon footprint across Scope 1 and Scope 2 by 80 per cent over a baseline of 2016, exceeding its target achievement by 10 per cent, one year ahead of time. (ANI)<br /><br />

TCS collaborates with Rolls-Royce for hydrogen research programme

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

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<ul class="summary-list"><li>Tesla's US market share has fallen below 50% for the first time.</li><li>While Tesla's dominance is waning, overall electric vehicle sales are growing.</li></ul><p>Tesla's dominance in the <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV market</a> is slipping, but it's not time for <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">CEO Elon Musk</a> to panic just yet.</p><p><a target="_blank" class="" href="https://www.businessinsider.com/tesla-price-range-cost">Tesla</a>'s share of US electric vehicle sales in the second quarter fell to 49.7%, marking the first time its share had fallen below 50% in a quarter, according to data from Cox Automotive. The slip followed disappointing sales results and tough first-quarter financial results.</p><p>While <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-ai-event-delayed-october-report-stock-falls-2024-7">Tesla is certainly facing its share of challenges</a> right now, losing market share is a sign of something much less threatening to the company's future.</p><p>It's proof that Tesla is growing into a somewhat normal car company — a status it has <a target="_blank" class="" href="https://www.businessinsider.com/tesla-elon-musk-acted-normal-this-year-it-worked-out-2023-12">worked hard to achieve</a> — and that the segment it pioneered is finally maturing.</p><p>"Despite Tesla's declining sales, with its EV sales share now below 50% for the first time, the overall competitive landscape for electric vehicles is intensifying," Cox Automotive Industry Insights Director Stephanie Valdez-Streaty said in the company's EV sales report. "This increased competition is leading to continued price pressure, gradually boosting EV adoption."</p><p><a target="_blank" class="" href="https://www.businessinsider.com/tesla-ev-market-share-slipping-all-depends-on-cybertruck-2023-10">Tesla's chokehold</a> on the US electric vehicle market has been waning for a few years as more companies release their own electric models. Tesla commanded about 55% of the US EV market last year, down from 65.4% in 2022 and a much higher 79.4% share back in 2020, according to data from Experian.</p><p>While this share drop looks staggering, it's important to remember that Tesla had previously enjoyed virtually zero competition in the US.</p><h2 id="d5fb91e5-8a68-40fd-bef0-4af4038882f7">Tesla finally has solid competition</h2><p>Tesla's success over the last two decades has sent legacy automakers — like GM, Ford, and Volkswagen — scrambling to catch up with Musk.</p><p>For the past few years, the US market has seen the release of one <a target="_blank" href="https://www.businessinsider.com/ford-mustang-mach-e-price-cuts-tesla-price-war-electric-cars-evs-2023-1">"Tesla fighter"</a> after another. Meanwhile, Tesla has continued to grow its fleet of options, while enjoying the benefits of attracting <a target="_blank" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">wealthy early EV adopters</a> who initially dominated the segment.</p><p>The result today is that EV shoppers simply have more choices. Just in the second quarter, BMW, Cadillac, Honda, and Kia all offered new entries to the market, according to Cox. Many of these models are stealing market share from Tesla simply by existing.</p><p>Take <a target="_blank" class="" href="https://www.businessinsider.com/chevy-silverado-equinox-ev-flood-the-zone-competitors-pull-back-2024-5">Chevrolet</a> for example. The bowtie brand is executing its plan to flood the EV market with new releases this year, and it appears to be paying off so far.</p><p>Cox credits new releases like Chevy's electric Blazer, <a target="_blank" class="" href="https://www.businessinsider.com/chevy-equinox-ev-first-drive-much-needed-electric-crossover-suv-2024-5">Equinox</a>, and Silverado with adding 21,000 EVs to the market and chipping away at Tesla's dominance.</p><h2 id="34a05545-bab2-4354-a3d7-8a25f3557846">Musk made the right bet on EVs</h2><p>Even as its market share diminishes and <a target="_blank" class="" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">sales slow</a>, Tesla remains the most dominant EV company in existence.</p><p>So far in 2024, Tesla is still the top seller of EVs with 304,451 deliveries through June, according to Cox. There's a seismic gap between Tesla and second-place Ford, which has sold 44,180 EVs so far this year.</p><p>Overall growth in the EV segment, regardless of Tesla's decline, also <a target="_blank" class="" href="https://www.businessinsider.com/tesla-can-make-cars-cheaper-than-competitors-2024-6">proves Musk right</a> in his bet on electric vehicles more than a decade ago.</p><p>The EV market is still increasing in volume and share, <a target="_blank" class="" href="https://www.businessinsider.com/automakers-over-estimated-electric-vehicle-demand-early-adopters-2023-10">just at a slower rate</a> than when the segment first took off in 2020. And Tesla is still in a good position to benefit from that growth.</p><p>"The growth will, at times, be very slow, as all-time horizons in the automobile business are vast, but the long-term trajectory suggests that higher volumes of EVs will continue over time," Valdez-Streaty said.</p>

Tesla's massive EV market share was never sustainable

Sustainable Fishing and Aquaculture

Private steel major <keyword id="19950204" type="General" weightage="100" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword> recently launched a <keyword id="22362645" type="General" weightage="20" keywordseo="carbon-bank" source="keywords">carbon bank</keyword>, a virtual repository through which carbon dioxide will become a value-creating asset for future usage, a company statement said here on Wednesday. <keyword id="19997617" type="General" weightage="20" keywordseo="CO2" source="keywords">CO2</keyword> is widely recognized as a harmful substance emitted due to the use of various <keyword id="19951339" type="General" weightage="20" keywordseo="fossil-fuels" source="keywords">fossil fuels</keyword> in industry and transportation. The steel industry, in particular, often relies on coal and other fossil fuels in its production line, resulting in the release of large quantities of CO2. <br /><br />The carbon bank is aimed at measuring and managing carbon dioxide savings generated from various <keyword id="22362646" type="General" weightage="20" keywordseo="sustainability-projects" source="keywords">sustainability projects</keyword>. These savings not only contribute to environmental goals but also hold the potential for generating revenue that can be reinvested into further <keyword id="20691570" type="General" weightage="20" keywordseo="decarbonization" source="keywords">decarbonization</keyword> efforts, it said. <br /><br />Rajiv Mangal, Vice President (Safety, Health &amp; Sustainability), Tata Steel, said "In the face of mounting global concerns about sustainability, Tata Steel has taken proactive steps to spearhead carbon abatement initiatives as part of its unwavering commitment to sustainability across environmental, societal, and business domains. The carbon bank is one such tangible commitment to driving sustainability within the organization." <br /><br />Initially, Tata Steel identifies decarbonization projects that can reduce CO2 emissions in one or more production processes. The <keyword id="22362647" type="General" weightage="20" keywordseo="carbon-savings" source="keywords">carbon savings</keyword> from these projects are rigorously monitored by an independent auditor, who verifies the company's CO2 savings claims following appropriate ISO system, it said adding that upon verification, a carbon savings certificate is issued by the auditor and virtually deposited in the carbon bank.

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