Business
ITC goes beyond Plastic Neutrality in 2021-22, achieves yet another Sustainability Milestone
In line with the commitment made last year, diversified Indian conglomerate ITC has gone beyond plastic neutrality in 2021-22 through the orchestration of an integrated solid waste management programme that incorporates unique and multidimensional initiatives.
The Company collected and sustainably managed more than 54,000 tonnes of plastic waste across 35 states and union territories. The amount of plastic waste managed exceeded the amount of plastic packaging utilised by ITC during the year, enabling the company to achieve the milestone of plastic neutrality.
For more than a decade, the company has been running a holistic 360-degree solid waste management programme that is based on the principles of a circular economy and encompasses the entire waste value chain.
For a company with large-scale operations in FMCG and hospitality, going beyond plastic neutrality is a commendable feat to accomplish. The milestone is yet another reflection of ITC’s commitment to augmenting environmental and social capital, in line with Chairman Sanjiv Puri’s Sustainability 2.0 vision that calls for inclusive strategies that can support even more livelihoods and pursue newer pathways to fight climate change.
ITC has achieved this milestone by scaling up its portfolio of holistic initiatives focused on in-house innovation, robust waste management programmes centred around source segregation and sustainable business practices with mass impact.
“Over the decades, ITC has made industry leading efforts in end-to-end waste management. Through a large-scale and integrated solid waste management programme, ITC moved beyond plastic neutrality this year. In addition, the company is also using cutting-edge innovations to develop sustainable alternatives to plastic packaging for the industry.
“This milestone has been possible due to the untiring efforts of all our partners and I would take this opportunity to congratulate them for supporting Team ITC’s aspirations of contributing meaningfully to address some of the major sustainability challenges facing the country. The efforts to move beyond plastic neutrality and sustainable management of waste will continue apace in the years ahead as part of our Sustainability 2.0 agenda.” said Sanjiv Rangrass group head, ITC Life Sciences & Technology, Central Projects, EHS & Quality Assurance, ITC Ltd.
ITC has adopted a multi-pronged approach to reduce plastic in the company’s operations spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging. This includes creating robust next-generation environment friendly packaging solutions, mega-scale waste collection programmes under its flagship waste management initiative ‘ITC WOW – Well-Being Out of Waste’ as well as focussed interventions in rural areas; a culture of plastic-free operations – in line with its philosophy of ‘Responsible Luxury’ to eliminate single-use plastic usage in ITC Hotels; and innovative models for sustainability which has plastic reduction and management at their core.
Within its operations, ITC has been recycling more than 99% of the waste for more than a decade.
ITC WOW, which enables the creation of a clean & green environment through community partnerships, has so far covered 18 million citizens across 46.7 lakh households in India. Currently operational in Bengaluru, Mysuru, Hyderabad, major towns of Telangana, Coimbatore, Chennai, Tirupur, Cochin, Muzaffarpur, Delhi and several districts of Andhra Pradesh, the initiative has raised awareness in over 52 lakh school children and 2,000 corporates since its inception. The initiative has also created sustainable livelihoods for over 16900 waste collectors by facilitating an effective collection system in collaboration with municipal corporations.
In addition to WOW, a separate ITC programme on Solid Waste Management (SWM), which deals with both wet and dry waste, is also operational in 17 districts of 9 states covering 14.6 lakh households.
Acknowledging the challenges with respect to disposal and recycling of multi-layered plastic, ITC has also pioneered a first of its kind sustainable and inclusive multi-layered plastic (MLP) management model in Pune.
The company’s targetted waste management initiatives not only ensure that lesser waste goes into landfills, but also enable larger value recovery from waste, thereby creating sustainable livelihoods for waste collectors, while creating additional income streams from collecting and sorting plastic waste. The company’s waste management programmes cover all categories of plastic waste, including flexibles, rigids and tetra packs.
Being India’s leading paperboards and specialty paper company, ITC has also introduced several sustainable alternatives to plastic packaging. Leveraging the cutting-edge R&D capabilities of ITC Life Sciences and Technology Centre (LSTC), Bengaluru, the Company has developed multiple sustainable packaging solutions for the industry, including the recyclable barrier board under the ‘Filo Series’ – an innovative substitute for single-use plastics in the food services segment, as well as the biodegradable ‘Omega Series’, launched as an alternative to plastic-coated containers and cups. Some of the other innovations by the Company include ‘Bioseal’ for replacement of polyethylene coating, ‘Oxyblock’ for improving barrier properties and recyclability, and the ‘Green Stiffner’ – a first of its kind compostable and recyclable solution.
In December last year, ITC’s Paperboards and Specialty Papers Division (PSPD), also collaborated with the Invest India, a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, to launch the ‘ITC Sustainability Innovation Challenge’ which is aimed at supporting and crowd-sourcing innovative technology-based solutions from the start-up ecosystem on sustainable packaging and smart waste management.
Business
‘Its Prime Real Estate’: Anand Mahindra Expresses Awe At Grandiose Of Brabus Big Boy 1200
In the City of Dreams that is Mumbai, one of the biggest ‘dreams’ of most who live in the metropolis is to find an abode, that they can call it their own. Real estate in Mumbai is known for its sky-high pricing, with figures of Rs 10-15 crore not surprising anyone.
The Motorhome
Space is a major issue in city, given the paucity of it, in a region that encompasses millions. However, what happens when the space is not only available but also mobile? That is precisely what a ‘motorhome’.
It may not been the most commonly seen or discussed avenue in this part of the world, but in other parts of the world, particularly in the US, an RV or recreational vehicle is the way of life, either by choice or by circumstance.
Mahindra Group chairman, Anand Mahindra recently reacted to one such motorhome. In a post on X, he shared a minute-long clipping of the Brabus Big Boy 1200. This is an uber-luxe, profligate motorhome manufactured by the German automobile company Brabus.
Mahindra, while reacting to the video of a person showing around the bus said, That’s not transport. It’s prime real estate.”
And one may arguably agree with Mahindra on this. The vehicle is extravagant and has a length of 12 meters or 39.4 ft and over 30 square meters or 320 sq ft. For context, the average size of homes in city of Mumbai hovers around 400-700 sq ft.
What Are The Features Of This Motorhome?
In addition, the vehicle also has two electrically extendable slide-outs on each side. These slide-outs can extend the bedroom and saloon to a width of 4.50 meters.
In addition, the motorhome also consists of a double bed measuring 160 x 200 centimeters.
A closet is integrated into the rear wall of the vehicle.
For amusement, the vehicle also has a desk and a 43-inch 4K television. Here one could watch TV programs that have been made available on the system play games on the integrated Playstation 5 system.
In addition, one can also connect to the internet through the Starlink system.
When it comes to the vehicle, it runs on a12.8-liter six-cylinder turbodiesel engine. This engine can deliver 390 kW / 530 hp and can generate a maximum torque of 2,600 Nm.
The vehicle is priced at around USD 1.5 million or a whopping Rs 12 crore.
Business
Maha will play key role in achieving India’s $5 trillion economy goal: Minister Tatkare
Nagpur, Dec 21: Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.
She emphasised the need for special financial assistance to the state in the upcoming Union Budget.
Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat’ by 2047.
Minister Tatkare outlined several critical issues and proposals for inclusion in the Union Budget. She urged the finance minister for central assistance for state Capital Investment by enhancing the allocation under the Scheme for Special Assistance to States for Capital Investment.
She emphasised the need for streamlining fund disbursement timelines to provide qualifying states with a minimum one-year utilisation window.
In the wake of rapid urbanisation, Minister Tatkare called for central support to tackle the challenges faced by the state.
“Maharashtra, with urbanisation expected to surpass 50 per cent in the upcoming census, faces challenges in resource mobilisation for urban local bodies (ULBs). The state government urges support for ULBs to access long-term loans for planned urban development and infrastructure enhancement,” she said.
Under the MukhyaMantri Saur Krushi Vahini Yojana 2.0, aimed at solarising agricultural feeders, Minister Tatkare sought increased targets and funding allocations for Maharashtra.
She requested expansion of Battery Energy Storage System (BESS) capacity from 500 MWh to 9,000 MWh to meet the state’s energy storage goals.
In order to further boost the modernisation of the home department, Minister Tatkare sought funds on a 60:40 basis, for projects such as digital forensic labs, mobile forensic vans, AMBIS systems, and the Cyber Security Project (Rs 837.86 crore).
She highlighted the need for funding major initiatives like Dial 112 emergency services integration and Maharashtra Police Station CCTV projects.
She urged financial support for faster case disposal through enhanced infrastructure for the judiciary.
She requested funding for constructing the Bombay High Court Complex in Bandra (East), estimated at Rs 3,750 crore.
Further, to push the implementation of the Mumbai Metropolitan Region (MMR) economic master plan, Minister Tatkare proposed a special package.
The master plan is aligning with NITI Aayog’s vision to transform MMR into a national growth hub by 2030.
According to NITI Aayog, the MMR has a potential to increase its GDP to $300 billion by 2030 from the present level of $140 billion.
The Centre’s public policy think tank has asked the Maharashtra government to concentrate on seven growth drivers and attract investment of $125-135 billion from the private sector to achieve the target.
In a bid to push the state government’s ambitious plan to make Maharashtra drought-free, the state government has sought central government support to include state-funded river-linking projects like Wainganga-Nalganga and Damanganga-Godavari under the National Interlinking of Rivers Scheme.
Further, the state government appealed to the Centre to ease revenue expenditure pressures to create fiscal space for capital projects and establish a ‘Kisan Vishesh Sahayata Nidhi’ to compensate farmers affected by trade policy interventions.
The state government also appealed for the enhancement of funding for ongoing schemes like the Jal Jeevan Mission and financial assistance for disaster-affected areas.
Minister Tatkare said the comprehensive representation highlighted Maharashtra’s ambitions and challenges, ensuring the state’s priorities were well-articulated for the Union Budget deliberations.
She reiterated Maharashtra’s commitment to becoming a cornerstone of India’s economic growth and development trajectory.
Business
Domestic stock markets to end 2024 on positive note, Nifty clocks 13 pc gain
New Delhi, Dec 21: Riding on resilient economic growth, the domestic stock markets are ending 2024 on a positive note, with Nifty registering a 13 per cent gain (year-to-date) — its ninth consecutive year of positive gains, a Motilal Oswal Wealth Management report said on Saturday.
The first half of the year saw robust corporate earnings, a surge in domestic flows, and a resilient macro landscape, driving the Nifty to an all-time high of 26,277 in September.
In fact, the markets navigated significant events, such several global geo-political issues, General Elections and Budget in India, and any dips were swiftly met with strong buying activity, the report mentioned.
“The year 2025 could unfold as a tale of two halves. The first half may continue to see market consolidation, while a recovery could take place in the second half,” it added.
In the last two months, the market has corrected 11 per cent from its all-time high, amid selling by foreign institutional investors (FIIs) due to a combination of domestic and global factors.
Going forward, the Indian markets are likely to face significant influences from a combination of global and domestic economic events.
The anticipated rate cut by the RBI in February, the ongoing trend of US rate cuts, and the expectations surrounding trade policy changes post Donald Trump taking over as US President in January will contribute to market volatility.
“Additionally, the Union Budget in February will offer important signals to the market. With a fragile global economic environment and mixed macroeconomic factors at home, the market is expected to remain in consolidation mode in the near term,” the report noted.
Earnings are expected to recover in H2 FY25, driven by increased rural spending, a buoyant wedding season, and pickup in government spending.
“We further expect earnings to gain momentum, delivering a 16 per cent CAGR over FY25-27E. We remain optimistic about the long-term trend, given the strength of corporate India’s balance sheets and the prospects for robust, profitable growth,” the report said.
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