India ranks ninth among world’s top 10 for climate technology investment: Report
Venture capital investment into climate tech companies globally has skyrocketed since the Paris Agreement, with the US and China leading the global top 10.
LONDON: India ranks ninth in the list of top 10 countries for climate technology investment over the past five years and Indian climate tech firms received USD 1 billion in venture capital (VC) funding from 2016 to 2021, according to a new report released in London on Tuesday.
‘Five Years On: Global climate tech investment trends since the Paris Agreement’, by London & Partners and Dealroom. Co analysed the trends in the sector since the last United Nations Conference of Parties (COP) in Paris and ahead of the COP26 summit in Glasgow next week.
It found that venture capital investment into climate tech companies globally has skyrocketed since the Paris Agreement, with the US and China leading the global top 10 with USD 48 billion and USD 18.6 billion investments between 2016 and 2021 respectively.
The UK comes in at No.4 with USD 4.3 billion after Sweden at USD 5.8 billion. “Countries around the world need to work together so that we can collectively change business practices and commit to net zero emissions,” said Hemin Bharucha, Country Director India, London & Partners – London’s business growth agency.
“The global tech industry plays a pivotal role in accelerating this global transformation and this is demonstrated in the rapid growth of VC investment into global climate tech companies. It is fantastic to see the UK and India among the top 10 countries for climate tech investment globally, with London leading the way in Europe for the number of climate tech companies and dedicated VC funds,” he said.
The global top 10 is completed by France at No.5 (USD 3.7bn), Germany at No.6 (USD 2.7bn), Canada at No.7 (USD 1.4bn), the Netherlands at No.8 (USD 1.3bn) and Singapore tenth (USD 700m), after India.
Overall, global climate tech VC investment soared from USD 6.6 billion in 2016 to USD 32.3 billion in 2021, an increase in funding by almost five times.
According to the report, which analyses technology companies working to reduce Greenhouse Gas emissions or addressing the impacts of climate change, 2021 investment levels have already exceeded the whole of 2020 for global climate tech investment, demonstrating the importance of the global tech industry in the fight against climate change.
Europe is found to be the fastest-growing region globally for climate tech, with European VC investment into climate tech firms seven times higher this year than in 2016 (up from USD 1.1 bn to USD 8bn).
In Europe, London is described as one of the world’s most advanced ecosystems for climate tech, with its start-ups raising USD 3.3 billion since 2016, accounting for 16 per cent of Europe’s total. London is also home to 416 climate tech companies, the biggest cluster in Europe.
“The UK is well on its way to becoming a climate tech powerhouse thanks to its combination of world-leading research, thriving ecosystem and creative entrepreneurs that are using technology to solve the most pressing issue in our lifetime,” said Remus Brett, Partner at VC firm Local Globe.
“It’s no wonder then that investors across Europe and the world are taking note of the startups and scaleups being created in London and the rest of the country. With sustained investment and the right support, these companies will have the tools they need to successfully reduce greenhouse gas emissions and fight the climate crisis,” he said.
Growth in climate tech is being driven by significant investment into transportation and energy solutions, accounting for a combined total of 78 per cent of global climate tech investment in 2021.
A similar trend is reflected in London, with 60 per cent of VC investment into climate tech going into energy companies, while enterprise software, circular economy and food start-ups are also attracting an increasing share of investment.
London ranks second globally behind the San Francisco Bay Area for number of funding rounds raised by climate tech start-ups, demonstrating an active early-stage ecosystem in London, according to London & Partners. The city’s promotional agency added that climate tech start-ups in London also have access to deep pools of dedicated climate tech capital, with the city home to 18 dedicated climate tech VC firms, more than anywhere else in Europe.
First-of-a-kind biogas plant begins ops at Jawaharnagar dumpyard.
Through the CBG, the total potential of waste to cause environmental degradation gets reduced substantially, while reducing the demand for land for waste disposal and carriage cost.
HYDERABAD: The Compressed Biogas Plant (CBG) established at Jawaharnagar dumping yard commenced its operations. It is the first project in the country where landfill gas is being purified and converted into automotive fuel. CBG, is produced by anaerobic decomposition of municipal waste. The plant is a wholly owned subsidiary of Ramky Enviro Engineers Limited (REEL).
The byproduct will be supplied to Bhagyanagar Gas Limited (BGL) and then distributed through its retail outlets all over Hyderabad. The landfill gas generated within the capped landfill is extracted through strategically placed gas wells. These gas wells are connected through a piping network to a flaring station. Landfill gas has the potential for conversion into automotive gas.
This alternative fuel can replace diesel. Through the CBG, the total potential of waste to cause environmental degradation gets reduced substantially, while reducing the demand for land for waste disposal and carriage cost.
Byproduct can replace diesel.
This plant converts waste gas into compressed biogas (renewable natural gas). The byproduct will be supplied to Bhagyanagar Gas Ltd and then distributed through its retail outlets all over Hyderabad. Landfill gas has the potential for conversion into automotive gas and can replace diesel.
Canada PM Justin Trudeau overhauls cabinet, gives women top roles.
Chrystia Freeland, widely considered a favourite to replace Trudeau at some point, retains her positions as deputy prime minister and finance minister.
TORONTO: Canada Prime Minister Justin Trudeau overhauled his cabinet on Tuesday and named women to the foreign affairs and defence posts in his gender balanced cabinet. Trudeau named Mélanie Joly as foreign minister and Anita Anand as defence minister.
Chrystia Freeland, widely considered a favourite to replace Trudeau at some point, retains her positions as deputy prime minister and finance minister. Women make up half of the Cabinet, as they have done since Trudeau’s Liberal government was first elected in 2015.
Joly, a 42-year-old from Montreal, previously served as minister of economic development and before that as heritage minister. Anand, a 54-year-old from Oakville, Ontario is just the second woman to serve as Canada’s defence minister.
The 54-year-old from Ontario previously served as procurement minister and led the country’s efforts to purchase vaccines in response to the COVID-19 pandemic. Trudeau also created a new role, a minister of mental health and addictions.
Carolyn Bennett has been tapped to take on the role. Harjit Sajjan, heavily criticised for his handling of sexual misconduct allegations in Canada’s military, is leaving the defense portfolio to take up a new post in international development. Only 10 ministers in Trudeau’s last cabinet are staying put. The cabinet adds up to 39 ministers, including Trudeau. Canadians gave Trudeau’s Liberal Party a victory in parliamentary elections last month, but his gamble to win a majority of seats failed and the result was remarkably similar to the election two years ago.
110 special trains being run to clear festive season rush: Railways
In addition to running the festival special trains on various routes falling under 13 different zones, the national transporter has also augmented coaches in regular trains in order to clear the rush.
NEW DELHI: The Indian Railways is operating over 100 special trains to various destinations for meeting the heavy rush of passengers in the ongoing festive season.In addition to running the festival special trains on various routes falling under 13 different zones, the national transporter has also augmented coaches in regular trains in order to clear the rush of Diwali and Chhath.According to official sources, 110 special trains are being run on various routes to take 668 trips right from the time of Durga Puja. Passengers are being made aware of COVID SOPs to be followed during their train journey.“The highest number of special trains (26) was introduced in Northern Railway zone followed by Western Railway 18, West Central Railway 12,” said an official.
Besides running these special trains, the railway authorities have also implemented crowd control measures at almost all the originating railway stations like New Delhi and others where heavy rushes of train passengers are reported every year during the festive season.
Right to equality a vested right and is enforceable against State and its instrumentalities: SC
The top court also said that equality is a definite concept that has an inherent limitation arising from the very nature of the constitutional guarantee.
NEW DELHI: The Supreme Court on Tuesday said that the Right to equality guaranteed under Article 14 of the Constitution is a vested right in favour of the person who claims equality and parity and is enforceable against the State and its instrumentalities.
The top court also said that equality is a definite concept that has an inherent limitation arising from the very nature of the constitutional guarantee.
A bench of Justices MR Shah and AS Bopanna allowed the appeal filed by 318 ex-employees of now closed Azam Jahi Mills seeking parity with a group of 134 ex-employees who were allotted 200 Sq.
Yards of plots free of cost. The bench said, “In view of the above and for the reasons stated above, both these Appeals succeed. Impugned judgment and order dated February 19, 2020, passed by the High Court for the State of Telangana, at Hyderabad are hereby quashed and set aside, and the judgment and order passed by the learned Single Judge is hereby restored”.
The top court directed that Kakatiya Urban Development Authority (KUDA) and the Urban development department of the state government treat and consider the remaining 318 ex-employees of the erstwhile Azam Jahi Mills at par with other 134 ex-employees, who were allotted 200 Sq. Yards of plots free of cost as per the Government Order of 2007.
It said, “Right to equality guaranteed under Article 14 of the Constitution of India is vested right in favour of the person who claims equality and parity and the same is enforceable against State/State instrumentalities in the exercise of powers under Article 226 of the Constitution of India.”
The bench said that the concept of equality before the law and equal protection of the laws emerges from the fundamental right expressed in Article 14 of the Constitution.
“Those who are similarly circumstanced are entitled to an equal treatment. Equality is amongst equals. Classification is, therefore, to be founded on substantial differences which distinguish persons grouped from those left out of the groups and such differential attributes must bear in just and rational relation to the object sought to be achieved,” it said.
The top court said that it found no justification at all in treating 318 ex-employees different from those 134 ex-employees who were allotted 200 Sq. Yards of plots free of cost.
“We find that as such the equals are treated unequally and therefore when the equals are treated unequally, there is a violation of Article 14 of the Constitution and therefore, the appellants were entitled to the relief sought even in the exercise of powers under Article 226 of the Constitution of India,” it said.
It said that in a given case Article 14 of the Constitution may permit a valid classification but that classification must necessarily satisfy two tests–the distinguishing rationale has to be based on a just objective and secondly and the choice of differentiating one set of persons from another must have a reasonable nexus to the objects sought to be achieved.The top court said that in the present case allotment of plots of 200 Sq. Yards free of cost to 134 employees was to avoid undue hardship to the ex-employees and as a welfare measure.
It said that the 318 ex-employees who are denied the benefit of allotment of 200 Sq Yards plots free of cost are similarly placed persons with that of 134 employees who are allotted such a piece of land and there is no rational justification in providing differential treatment.
The top court directed that it will be open for KUDA to approach the State Government or the Central Government to allot additional plot/land may be out of the remaining land available with the National Textile Corporation Limited (NTCL) of the erstwhile Mills and the same may be considered in the larger public interest.
“The aforesaid exercise of allotment of plots to remaining 318 ex-employees members of the Workers Association shall be completed within a period of six months from today,” it said.
Both sets of ex-employees were working in Azam Jahi Mills owned and run by the NTCL and they worked in the establishment for more than 20 years. The said Mill was closed in the year 2002.
All the employees during the period of service were allotted Employees’ Quarters constructed and owned by the Mill and all of them took voluntary retirement according to a Modified Voluntary Scheme of 2002.
A large number of employees voluntarily retired on one day August 31, 2002, and they were asked to vacate the quarters which were in their respective occupations.Approximately 318 employees including the members of the Workers Association were forcefully evicted from the quarters but some of the employees who were about 134 in number, continued to stay in their respective quarters despite the service of the notice asking them to vacate the quarters.
In 2007, KUDA submitted a proposal to the State to allot house sites of 200 Sq. Yards each to 134 employees of the Mill, who continued to stay in their respective quarters despite service of notice demanding them to vacate the quarters.
The State Government on June 27, 2007, accepted the proposal of the KUDA to allot 200 Sq.
Yards developed a plot free of cost to each of 134 ex-employees of the erstwhile Mill, as a rehabilitation and welfare measure. Later, 318 retired workers who also took voluntary retirement along with other 134 workers made representations to allot to them also 200 Sq. Yards plot as allotted to other 134 workers out of the remaining land but the request was denied.
Make space for more water in Mullaperiyar dam: Supreme Court
PWD Secretary Sandeep Saxena and Cauvery Technical Cell’s chairman, R Subramanian, represented Tamil Nadu in the meeting which lasted about 75 minutes.
THIRUVANANTHAPURAM/CHENNAI: A day after the Supreme Court directed Kerala and Tamil Nadu to interact responsibly with one another and the supervisory committee on the maximum water level at the Mullaiperiyar dam, officials from both States held talks in this regard on Tuesday.
PWD Secretary Sandeep Saxena and Cauvery Technical Cell’s chairman, R Subramanian, represented Tamil Nadu in the meeting which lasted about 75 minutes. However, officials declined to reveal the details of the meeting, saying the information would be submitted before the apex court on Wednesday.
Meanwhile, Kerala Water Resources Minister, Roshy Augustine, told TNIE the State had asked Tamil Nadu to draw maximum water (2,700 cusecs) from the Mullaiperiyar dam in order to store more if it rains heavily in the coming days. “The members of the Supreme Court-appointed supervisory committee, who attended the meeting, also directed Tamil Nadu to draw maximum water,” he said.
The water level in the dam has crossed 137.5 feet while the maximum level set by the Central Water Commission for the month is 138 feet. The Met department has forecast heavy rain triggered by a low pressure that is expected to form over the Bay of Bengal and a cyclonic circulation over the Arabian Sea. Augustine said in case the dam spillways are opened, Kerala is equipped to tackle the situation. The minister allayed the fears of people living downstream.
“The State recently raised shutters of the Idukki dam to maintain the water level at 2,395 ft against the maximum capacity of 2,403.5 ft. This will allow Idukki dam to store excess water released from Mullaiperiyar if its spillways are opened,” he said.
Kerala had on Sunday urged Tamil Nadu to draw maximum water from the dam into its Vaigai dam as the water level had reached 136 ft. On Monday, petitioners from the State moved the apex court on the issue. Tamil Nadu’s counsel argued to the court that it is entitled to store water up to 142 ft, based on two earlier Supreme Court orders.
Maharashtra government allows all fully-vaccinated people to board Mumbai local trains.
This means people who have taken both the doses of vaccines against COVID-19 and completed 14 days after inoculation can travel in local trains.
MUMBAI: The Maharashtra government on Tuesday issued an order allowing the common people, irrespective of the nature of their jobs, who are vaccinated fully against COVID-19 to board suburban trains in the Mumbai Metropolitan Region (MMR).
In this order, the state government has extended the definition of fully vaccinated people to cover even those people who are working in non-essential sectors.
This means people who have taken both the doses of vaccines against COVID-19 and completed 14 days after inoculation can travel in local trains.
The government also stated that the people working in essential sectors must be fully vaccinated and should have completed the 14 days post-inoculation before they can be allowed to board local trains.
Currently, the Central Railway and the Western Railway have been issuing a monthly pass to vaccinated commuters instead of daily tickets to curtail the crowd.
Notably, both the railways on Monday said suburban services in Mumbai will be operated at the 100 per cent capacity of the pre-pandemic level from October 28, but the existing travel restrictions for the general public will remain unchanged.
This decision was taken considering the increased flow of commuters, an official said on Monday.
Central Railway and Western Railway will run 1,774 and 1,367 services, respectively, on their suburban network from October 28.
The zonal railways used to operate these many services before the outbreak of the COVID-19 pandemic.
Currently, Central Railway and Western Railway are operating 1,702 and 1,304 suburban services, respectively, which is 95.
70 per cent of the total suburban services in the normal period.
Till now, only government employees and essential services staffers are allowed to travel on suburban trains, apart from the fully-vaccinated citizens, who have completed the 14 days after the second dose and those who are below 18 years.
After the outbreak of the pandemic, the suburban services were completely stopped from March 22, 2020.
Later railways began suburban services for essential service categories as identified by the Maharashtra government and approved by the Ministry of Railways from June 15, 2020.
Suburban locals are considered the lifeline of Mumbai.
Nearly 80 lakh passengers used to travel on the suburban locals before the COVID-19 pandemic.
The COVID-19 graph is also slowing down in Maharashtra.
The state on Monday reported 889 COVID-19 cases, the lowest number in a day since May 5, 2020, and 12 fresh fatalities, the least number of one-day death counts in more than 18 months, a health department official had said.
