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Mainstreaming Sustainability in Business Planning and Practices |
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TERI CBS Editorial
Dear Industry Colleague,
The interim Union Budget for 2024-25 is due to be announced
tomorrow on 01 February 2024. The green energy sector is poised with
anticipation and advocating for pivotal policy support to boost sustainable
energy initiatives. Along with our Council members, we await in anticipation
for the budget's focus on sustainable energy. Only a week away, we look forward
to welcoming all of you at our annual World Sustainable Development Summit (WSDS). The only
independently convened international Summit on sustainable development and
environment based in the Global South, WSDS strives to provide long-term solutions
for the benefit of global communities by assembling the world’s most
enlightened leaders and thinkers on a single platform. We are proud that leadership teams from our
Council’s network shall be attending the Summit and speaking on various themes
across the 3 day-long Summit, starting Wednesday 07 February 2024
in New Delhi.
The discussions on decarbonisation
and business actions, including the Action Agenda of COP28, the
non-negotiated track, witnessed record number of participation of industries
across the globe. We accomplished an array of successful engagements with our Council
member companies at COP28 in Dubai, where the first Global Stocktake
(GST) unveiled by the COP28 Presidency provided a comprehensive assessment of
progress since adopting the Paris Agreement. Thereafter, we continue to pursue key
decisions made at COP28, including decisions made on the Loss and
Damage Fund, the Global Stocktake, and the Global Goal on Adaptation, noting
that there are still modalities to each that need to be determined. Decisions
on climate finance were only intermediary. We would look to COP29 as a finance
focused COP where a landmark decision on the New Collective Quantified Goal on
climate finance is expected to be adopted. And we look forward to your
continued support and participation in 2024.
Jointly developed with Shell, our report titled “India Transforming To A Net-Zero
Emissions Energy System - A call to action to 2030” shall provide
you with key messages of how clean energy will look like in the decades to
come. Technical proposals on why storage of electricity is necessary
for meeting demand round the clock and the details of range of possible mitigation
strategies for Net Zero steel sector are available, alongside the actions
undertaken by the signatory companies of the Industry Charter for Near-Zero
Emissions Ambition by 2050, instituted by TERI.
Our Council for Business Sustainability serves as the
interface for our research work to be connected to the corporate world and
enables two-way engagement. TERI CBS engages with the core issue of what
businesses must do to shape and lead in sustainability. Your suggestions and
feedback remain a constant source of inspiration for us.
We hope that the newsletter provides a good and
insightful reading for you.
- Arupendra Nath Mullick, Vice President - TERI CBS |
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India’s
commitment of net zero by 2070 requires collaboration across institutions to achieve this goal. And the significance of fostering partnerships and collaborations has been articulated nowhere better than in the United Nations Sustainable Development Goal (SDG) #17 that focuses on “Partnerships
for All” for sustainable development.
Capgemini is a global
consulting and technology services company that develops and implements clients’
sustainable strategies by harnessing the power of technology. Combined with
TERI’s commitment to research on the energy sector and resource efficiency, the two
organisations have come together to leverage their capabilities to create
impact for the government, industries and the financial institutions.
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"The realities of climate change and the urgency of achieving net-zero warrant a tectonic shift towards cleaner and greener fuels, especially in the industrial context and the hard-to-abate sectors. Towards this, low-carbon bio-hydrogen is an effective solution for more sustainable industrial processes aimed at decarbonisation. In the backdrop of the National Green Hydrogen Mission by the Government of India, Capgemini's collaboration with TERI for this whitepaper will hopefully provide a blueprint for scaling up and further innovating less energy-intensive, environmentally-friendly industrial fuels like low carbon bio-hydrogen , which also leverage emerging technologies"
- Sandeep Bhatia, Managing Director, Capgemini Invent India and Poland (during virtual launch of TERI - Capgemini paper 'Harnessing the Potential of Bio-Resources to Produce Low Carbon Bio-Hydrogen')
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TERI’s
Expert Group on Financing India’s Long Term Low-Carbon Development Strategies
As India
aspires to become Net Zero by 2070, the economic and policy choices it makes
will require the creation of an ecosystem that enables it to implement this
long-term goal. The Government of India’s Long-Term Low-Carbon Development
Strategy (LT-LCDS) unveiled at COP27 offers the framework within which economic
and policies choices should be made.
The Expert
Group on Financing India’s Long-Term Low-Carbon Development Strategies comprises
of members from the industry and the financial sector, and aims to mobilise
finance and policy environment towards financing green and just transition in
India’s hard-to-abate sectors.
Initiated with the support
of Bloomberg Philanthropies, the Expert Group will evaluate India’s financial
strategy with respect to LT-LCDS, particularly in the context of Indian steel
industry and the adjacent MSME sector, analyse policy frameworks and
investments, and share recommendations that can enable financing technology transfers.
*More Information to follow soon | |
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Important Reads
At COP28, Much Talk but
Incremental Gains
COP28 will be remembered for the agility of the UAE
Presidency to operationalize the Loss and Damage fund, opines Mr. R R Rashmi,
Distinguished Fellow, TERI in his opinion piece on the outcomes of COP28. Despite contributions of $745 million, the L&D
fund fails to mention the quantum, scale and the source of funding required.
Other agenda items relating to the development of a global framework on
adaptation and the global stocktake (GST) remained unaddressed at COP28.
More than 120 countries
committed to the global goal of tripling renewable energy capacity and doubling
the global average annual rate of energy efficiency to more than 4% by 2030.
The key to resolving issues around mitigation and adaptation, however,
continues to be dependent on arranging the requisite finance. |
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Pumped Storage Plants – Essential for India’s Energy
Transition
India’s development of 500GW of non-fossil fuel capacity by 2030 is
dependent upon large-scale energy storage, with pumped storage projects (PSPs)
emerging as a critical option for ensuring optimal utilization of improved
solar capacity, reliable supply and grid stability.
The report ‘Pumped Storage
Plants – Essential for India’s Energy Transition’ by TERI spells out measures
for the ways in which large-scale PSP capacity can be developed in this decade
to facilitate India’s clean energy goals. Some of the recommendations include
development of on-river and off-river pumped storage plants, competitive
bidding of PSPs, and ensuring competitiveness of PSPs in comparison to thermal
power plants by ensuring that the tariff of renewable energy plants combined
with storage capacity with PSPs is cheaper than thermal power plants. |
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High – Level Convening of
Industry Charter for Near Zero Emissions by 2050
The Industry Charter for Near Zero Emissions by 2050
brings together a group of companies voluntarily committing to low emissions. The charter provides a platform for the
signatory companies to discuss their work and progress on decarbonisation.
The roundtable will deliberate on key levers that can support decoupling of industrial growth from emissions, focusing on the implementation of Best Available Technologies (BATs), and financing for decarbonisation of industries, especially low-cost financing for MSMEs.
Date: 8th February
Time: 2:00 – 3:30 pm (IST) Venue: India
Habitat Centre, Lodhi Road, Delhi
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Chief
Sustainability Officers’ (CSO) Forum
The world
today faces heightened magnitude of risks that threaten its collective
sustainability. At the same time, the situation is posing an array of
unparalleled choices and opportunities – stressing upon the need to charter new
and innovative pathways of growth that integrate sustainability into the core
strategy.
The 10th edition of the CSO Forum will provide insights
on integrating sustainability into the core strategy to leverage the array of
unparalleled choices and opportunities posed by the climate and
sustainability-related risks and threats, which in turn will help
Sustainability Officers take proactive steps towards devising and implementing
appropriate change strategies and exhibiting thought leadership
For more details, please contact pooja.kumar@teri.res.in
Date: 8th February Time: 4:00 - 5:30 pm (IST) Venue: India Habitat Centre, Lodhi Road, Delhi |
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Launch of TERI Energy and Environment Data and
Diary Yearbook (TEDDY) 2023, 23th Jan
TERI launched the 38th
edition of its TERI Energy and Environment Data and Diary Yearbook (TEDDY) on 23th
January.
The revamped yearbook provides up-to-date information on energy supply
sources including coal, lignite, petroleum, natural gas, power and renewable
energy, and energy demand sectors covering agriculture, industry, and transport,
residential and commercial sectors. The yearbook captures data and developments
in the energy and environment domain for the period of 2022-23. |
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COP28 Debriefing: Contextualising COP28 Outcome
and Way Forward for COP29, 16th Jan
TERI organised
a debriefing session on the outcomes of COP28 and the focus areas to look forward
to at COP29 on 16th Jan. Ms.
Rajashree Ray, Economic Advisor, Ministry of Environment, Forests and Climate
Change (MoEFCC) highlighted that the New Quantified Collective Goal (NQCG) is
expected to be finalised at COP29.
The panellists also discussed
the adoption of the Global Goal on Adaptation (GGA) that provides a targeted
list of sectors and the set timelines within which countries need to submit
their strategies, and the operationalisation of the Loss & Damage (L&D)
fund. |
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TERI at Vibrant Gujarat Summit, 10-12th
Jan
TERI was
represented by Dr Vibha Dhawan, Director General at the 10th Vibrant
Gujarat Summit held in Gandhinagar from 10th – 12th
February.
Dr Dhawan shared her views
on sustainability and the need to decarbonise economies at a panel discussion
organised during the summit on ‘Net Zero’. Discussions at the panel focused on
carbon markets, enhancing renewable energy and developing storage systems to
ensure round-the-clock power. |
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TERI serves as knowledge partner for the
Maharashtra Environmental Sustainability Summit, 9th Jan
The
Environmental Sustainability Summit held in Mumbai, highlighted the challenges,
solutions and opportunities presented by nature-based solutions, especially
bamboo-based solutions that can help accelerate sustainability, and contribute
to climate goals.
Witnessing the presence of
Shri Eknath Shinde, Chief Minister, Maharashtra and Shri Ramesh Bais, Governor,
Maharashtra, the Summit was attended by eminent experts, including Dr. Vibha
Dhawan, Director General, TERI. |
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In Spotlight
Watch TERI CBS Executive Committee members share
their insights on how TERI Council for Business Sustainability (TERI CBS) plays
an instrumental role in developing a two-way communication between the
industry, government and the academia by helping shape policies and sharing
best practices on sustainability. |
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TERI Research and Publications |
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Enhancing India’s Biofuels Program: Examining the Role of Oxyfuels in
India’s Clean Fuel Transition
TERI, in association with the Asian
Clean Fuels Association (ACFA), Singapore, undertook an extensive feasibility
analysis for co-blending in gasoline in India. The report highlights the
benefit of introducing oxyfuels like ethers (ETBE, MTBE, TAME) with the ethanol blended targets,
and how this inclusion will allow Indian refineries to ramp up production of
ether to meet domestic and export demand. |
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Strategies to Increase Railways Share in Freight Transportation
TERI has undertaken research to
understand the constraints faced by railways, and help improve freight
management systems for the Indian railways to help their target of increasing
their share to 45% in freight movement by 2030. Studies have been undertaken to
augment policies which help optimise terminal development and operations, improve
freight marketing and increase freight tariff. |
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Low Carbon Pathways for Madhya Pradesh
Development of low-carbon pathways at state
levels are recognised as the building blocks of contributing to national-level
low carbon pathways. This study undertaken for the Energy Department,
Government of Madhya Pradesh answers key questions relating to least-cost
investment in new-generation capacity and meeting anticipated demand with least
cost dispatch of generation in the short (2025) and medium (2030) term. |
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