Business
ITC scales up its 360-degree interventions for ‘Greener Earth’
On this World Environment Day, ITC reaffirmed its commitment towards a ‘Greener Earth’ through its bold Sustainability 2.0 agenda.
Building on its sustainability journey of over two decades, ITC, under the leadership of its Chairman Sanjiv Puri, has articulated an ambitious Vision to scale up its efforts in fighting climate change, whilst supporting large scale sustainable livelihoods.
Commenting on ITC’s multidimensional sustainability initiatives, S Sivakumar, Group Head, Agri, IT and Sustainability, ITC Ltd, said: “ITC has, over the years, implemented innovative business models which synergise the building of economic, environmental, and social capital as a unified strategy. Today, our ambitious Sustainability 2.0 agenda aims to further strengthen ITC’s efforts towards decarbonisation, building green infrastructure, promoting climate-smart and regenerative agriculture, ensuring water security for all, restoring biodiversity through nature-based solutions, creating an effective circular economy, creating sustainable packaging solutions and enabling the transition to a net zero economy. We believe this will go a long way in combating the climate crisis and supporting meaningful livelihood opportunities.”
ITC is today the only Company of comparable dimensions to be water, carbon, and solid waste recycling positive for over a decade and a half.
In recognition of its superior Environmental, Social and Governance (ESG) models, the Company has been rated ‘A’ at the Leadership Level for both Climate Change and Water Security by CDP, ‘AA’ by MSCI-ESG (the highest amongst peers) and was also included in the Dow Jones Sustainability Emerging Markets Index.
As a part of its efforts to transition towards Net Zero, ITC has made significant investments in renewable energy. Currently, clean energy powers 24 factories, 14 hotels, and five office buildings across 14 states.
Last year, ITC set a target to meet 100 per cent of its grid electricity requirements from renewable sources by 2030. Currently, it meets around 42 100 per cent of all its electrical energy requirements through renewable means.
With a focus on solar energy, the company has commissioned both onsite and offsite plants across states. ITC has maximized usage of rooftops of its Integrated Consumer Goods Manufacturing and Logistics (ICML) facilities, factories and warehouses for solar power generation. As many as 39 properties of ITC are Platinum rated green buildings by USGBC-LEED/IGBC. ITC’s Windsor Hotel in Bengaluru became the first hotel in the world to be LEED� Zero Carbon certified, followed by ITC Grand Chola and ITC Gardenia.
To contribute to a ‘Greener Earth’, ITC has also been running an integrated water stewardship programme, covering over 1.33 million acres of land and creating a total rainwater harvesting potential which was over 3 times the net water consumed by its operations during last year. The demand management interventions for promoting water efficiency in agriculture have resulted in potential water savings to the tune of 496.5 million cubic metres till date. Following the Alliance for Water Stewardship (AWS) Platinum level certification of ITC’s Paperboards and Specialty Papers unit at Kovai, the first ever site in India to achieve the highest global standard, the Company is in the process of implementing the AWS Standards and obtaining certification at other units in high water stress areas.
Similarly, ITC’s extensive biodiversity programme focuses on reviving ecosystem services provided to agriculture such as natural regulation of pests, pollination, nutrient cycling, soil health retention and genetic diversity, which have witnessed considerable erosion over the past few decades. The initiative has cumulatively covered 1.3 lakh acres in more than 29 districts across 10 states. ITC aims to expand the programme to cover over 10,00,000 acres by 2030.
To de-risk agriculture from effects of climate change, ITC has introduced a Climate Smart Agriculture programme, which covers 15 lakh acres, benefitting over 4.5 lakh farmers. As an integral part of this, a Climate Smart Village initiative covering over 2,500 villages and over 8.2 lakh acres, has led to reduction in GHG emissions by up to 66 100 per cent and an increase in communities’ income by up to 93 100 per cent for soyabean crop in Madhya Pradesh. ITC’s large-scale social and farm forestry programme has greened over 9,50,000 acres, generating over 173million person days of employment.
Moving towards Circular Economy, the Company went beyond plastic neutrality in 2021-22 by collecting and sustainably managing more than 54,000 tonnes of plastic waste across 35 states/union territories. ITC’s flagship solid waste management programme, ITC ‘WOW’ or Well Being Out of Waste, programme, has covered over 1.8 crore citizens providing sustainable livelihood to more than 17,300 waste collectors.
In line with its Vision for a sustainable packaging future, ITC’s Paperboards and Packaging Businesses have leveraged cutting-edge research and innovation capabilities of ITC Life Sciences and technology Centre to launch several first-of-its kind packaging solutions, which facilitate reduction, substitution and recyclability of plastic.
The company is now endeavouring to ensure that over the next decade, 100 per cent of its packaging is reusable, recyclable or compostable/biodegradable.
Business
India Set To Lead The World In 6G, Says Telecom Minister Jyotiraditya Scindia
In a bold declaration at the inaugural address of the Indian Mobile Congress 2024 (IMC) on Tuesday, Union Telecom Minister Jyotiraditya M. Scindia has said that India will lead the world in the adoption of 6G.
In his address at the event, Scindia emphasized that India is now prepared to lead the world in the development of 6G technology.
India’s Technological Rise: From Following to Leading
“It is our belief and commitment that India, which followed the world in 4G and marched with it in 5G, will lead the world in 6G,” Scindia stated.
The minister highlighted India’s remarkable achievements in the telecommunications sector over the last ten years, the country has become a global leader in innovation and technology.
“It’s a fundamental change in approach towards technology development,” he said, attributing this transformation to Prime Minister Narendra Modi’s leadership.
Telecom Sector Growth Under PM Modi’s Leadership
“Prime Minister who has always put people at the heart of progress Sabka Sath, Sabka Vikas Sabka Vishvas aur Sabka Prayas combined with his second motto, One Earth, One Family and One Future. It is combination of these two mottos that leads India under PM Narendra Modi leadership one of the leading sectors in the committee of Nations,” Scindia said.
Scindia underscored government’s initiatives to bridge the digital divide, particularly through the BharatNet program, the world’s largest rural broadband connectivity initiative to connect every panchayat of the nation. Over the past three years, the government has invested more than USD 10 billion and laid 7 lakh kilometres of fiber across rural India.
Digital Payments and UPI: Pillars of India’s Digital Economy
He cited staggering growth in mobile and broadband connectivity, with mobile connections rising from 94 million to 1.16 billion, and broadband users growing from 60 million to 924 million in just a decade. India’s optical fibre cable (OFC) networks has expanded from 11 million kilometers to 41 million kilometres over the last ten years, he added.
The minister further said that this growth is accompanied by the success of India’s digital payment systems, the 4G stack, and the Unified Payments Interface (UPI), which serve as pillars of India’s digital economy are expected to contribute significantly to the global digital infrastructure.
Scindia further noted that the government’s efforts to ensure that policy frameworks keep pace with the rapidly evolving digital landscape. “The recent changes to the Telecommunications act 2023 is a case in point. It has been drawing light upon hither to undressed areas such as a high potential sector of satellite communications, addressing the challenges of the digital leader. The most important being cyber security. The telecom sector much like other growth critical sectors in India is aggressive, is ambitioushe said.
“The telecom sector much like other growth critical sectors in India is aggressive, is ambitious and its outlook in our Journey from Amritkal to Shatabdikal is to lead the world,” Scindia said. By mid-next year, India will have achieved 100 per cent saturation of 4G across the entire country, covering even the most remote villages, the minister said.
He emphasised PM Modi’s vision of India as a first mover in 6G technology, underscoring the nation’s resolve to lead the world in future telecom innovations.
“The attitude put forward by the prime minister of not just embracing, but raising ourselves to becoming the first mover in the 6G technology,” he added.
Business
Indian Markets Gave Better Returns Than China In Last 5 Years, Says Sebi Member
Sebi Whole-time Member Ananth Narayan G on Monday reminded investors that Indian equities have consistently delivered 15 per cent returns over the last 5 years whereas the same has been zero or even negative in China.
Terming the Indian markets “sone pe suhaga” for delivering higher returns for lower risks, Narayan also flagged a few areas of caution for investors and asked them to be conscious of the risks.
“There’s a lot of talk about China markets over the last few days. But over the last five years, while Indian markets have given around 15 per cent compound annual growth rate consistently, Chinese markets are nowhere close to that. It’s almost zero. In fact, in some cases, like in Hong Kong, it’s actually negative,” Narayan said.
Speaking at an event marking the start of the Investor Awareness Week at NSE, Narayan said FY24 was a “remarkable” year for India, with the benchmark indices returning 28 per cent and the volatility just 10 per cent.
“That’s like ‘sone pe suhaga’. It’s like the best of all worlds: low risk and very high return,” Narayan said, underlining that there are side effects of this as well.
Making it clear that it will not be the same going forward and investors should not assume it to be a one-way street, Narayan said such handsome returns can lead to complacency and pointed to a lot of youngsters opening up demat accounts to join the bandwagon.
Educating people about risks is very important, Narayan said, giving the analogy of driving a car. “There has to be a light push on the accelerator to get more investors to provide risk capital for the economic growth, we also need to be aware of risks and use the brakes if need be.” He said that 40 per cent of the small and midcap scrips have shot up by 5 times in the last five years, because of an imbalance between inflow of investor money and supply of new paper.
On its part, the capital markets regulator is trying hard to ensure that fund-raising clearances are done early so that there is a steady stream of quality paper supply in the market.
From a broader, longer-term perspective, Indian markets will only go north from here given the economic growth prospects in the country, Narayan said, issuing specific advice to investors.
Investors need to have the right intermediaries to capitalise on this opportunity presented by India, and not fall for the unregistered and fly-by-night ‘finfluencers’ who might be driven by vested interests, he said.
Using the oft-repeated idiom of “all roads lead to Rome”, Narayan remarked that Rome is not a traveller-friendly place and one may get scammed there as well. Therefore, it is important to seek advice from the right people for the investors, he said.
He also said that it is in investors’ interests to trade less and stay invested for longer for higher returns, and added that studies prove the same.
Sebi, which has flagged certain areas like derivatives recently, is not against speculation or participants taking short-term trades, but it would want investors to understand the risks, Narayan said.
Business
Ratan Tata Rubbishes Rumors Of ‘Critical Health’; Says No Cause For Concern
Tata Group’s Ratan Tata has denied rumours of his critical health that have been reported and have surfaced in the recent hours.
Ratan Tata’s associates took to his official Instagram account to debunk the news of him being ‘Critical’.
In the post, Ratan Tata said, “I am aware of recent rumors circulating regarding my health and want to assure everyone that these claims are unfounded. I am currently undergoing medical check-ups due to my age and related medical conditions.
There is no cause for concern. I remain in good spirits and request that the public and media respect refrain from spreading misinformation.
For more than fifty years, Ratan Tata has led the Indian business community’s entrance hall. The 86-year-old has been suffering from illnesses associated with ageing. Tata has participated in social life to the best of his limited ability despite his health issues.
Recently, on the occasion of Gandhi Jayanti, on October 2, Ratan Tata, expressed his congratulations to the Prime Minister on this occasion. “I congratulate the honourable Prime Minister on the 10-year commemoration of programmes that have benefitted millions in rural India.”
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