Latest news with #SBTi
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Business Standard
a day ago
- Business
- Business Standard
Delta Electronics signs deal with Ventus Energy to reduce carbon footprint
Energy and power management solutions provider Delta Electronics India announced on Monday that it has signed a power purchase agreement with Ventus Energy Consultancy to reduce its carbon footprint in the country. A power purchase agreement is a long-term deal between a power supplier and a power consumer. It outlines the terms of electricity sale, including the price, volume, and duration of the agreement. Delta Electronics would source a combined 9.6 million units of wind power annually to power its manufacturing facilities in Tamil Nadu, stated the agreement. This move is expected to reduce the company's dependence on fossil fuel-based electricity and cut approximately 6,979 metric tonnes of carbon emissions annually. The electricity would be sourced from wind farms located in Tirunelveli, Tuticorin and Tiruppur districts through a 12-year agreement signed with the state electricity board — Tamil Nadu Generation and Distribution Corporation (Tangedco). "These PPAs are more than transactions — they are part of a long-term strategy to decarbonise our operations and contribute meaningfully to India's green transition. They also reaffirm our commitments under global frameworks like RE100 and the Science Based Targets initiative (SBTi)," the company's Managing Director Niranjan Nayak said. Delta Electronics has built 35 certified green buildings and operates two data centres globally. By collaborating with Ventus Energy Consultancy, Delta Electronics is promoting a cross-industry model for renewable energy partnerships. Ventus Energy Consultancy Director P Vijayabaskaran, on the association with Delta Electronics, said: "With over 15 years of experience in renewable energy and a portfolio managing 750+ MW of wind and solar assets across Tamil Nadu, Ventus Energy Consultancy is proud to support Delta Electronics in its journey toward industrial decarbonisation." "As Delta's renewable energy demand grows, we are committed to enabling this scale-up through strategic power procurement and regulatory alignment," he added.
News18
a day ago
- Business
- News18
Delta Electronics signs PPA with Ventus Energy to reduce carbon footprint
Chennai, June 2 (PTI) Delta Electronics India, a prominent player in energy and power management solutions, has signed a Power Purchase Agreement with Ventus Energy Consultancy under its vision to reduce carbon footprint in the country. As per the agreement, Delta Electronics would source a combined 9.6 million units of wind power annually to power its manufacturing facilities in Tamil Nadu. This move is expected to reduce the company's dependence on fossil fuel-based electricity and cut approximately 6,979 metric tonne of carbon emissions annually. Delta Electronics has planned to expand its renewable sourcing across its facilities in the country by exploring smart grid innovations and implementing real-time monitoring powered by its own Automation and Internet of Things (IoT) technologies. In a press release on Monday, the company's President Benjamin Lin said, 'Integrating renewable energy into our operations aligns our growth with India's climate goals and accelerates our global net-zero vision. Collaborations like these are key to building a resilient and responsible energy ecosystem." The electricity would be sourced from wind farms located in Tirunelveli, Tuticorin and Tiruppur districts through a 12-year agreement signed with state electricity board — Tamil Nadu Generation and Distribution Corporation (TANGEDCO). 'These PPAs are more than transactions — they are part of a long-term strategy to decarbonise our operations and contribute meaningfully to India's green transition. They also reaffirm our commitments under global frameworks like RE100 and the Science Based Targets initiative (SBTi)" the company's Managing Director Niranjan Nayak said. Ventus Energy Consultancy Director P Vijayabaskaran on the association with Delta Electronics said, 'With over 15 years of experience in renewable energy and a portfolio managing 750+ MW of wind and solar assets across Tamil Nadu, Ventus Energy Consultancy is proud to support Delta Electronics in its journey toward industrial decarbonisation." 'As Delta's renewable energy demand grows, we are committed to enabling this scale-up through strategic power procurement and regulatory alignment," he added. PTI VIJ VIJ ROH First Published: June 02, 2025, 19:00 IST
Time of India
a day ago
- Business
- Time of India
Delta signs 12-year wind power deal for Tamil Nadu plants; aims to reduce 6,979 MT carbon emissions
New Delhi: Delta Electronics India has signed a 12-year Power Purchase Agreement (PPA) to procure 9.6 million units of wind-generated electricity annually for its manufacturing and operational facilities in Tamil Nadu, the company said in a statement. The agreement, facilitated by Ventus Energy Consultancy Private Limited, is projected to help the company reduce its carbon footprint by approximately 6,979 metric tonnes annually. The power will be supplied from wind farms located in Tirunelveli, Tuticorin, and Tiruppur through the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) grid. Benjamin Lin, President of Delta Electronics India, said, 'At Delta, we believe in leading by example. Integrating renewable energy into our operations aligns our growth with India's climate goals and accelerates our global net-zero vision. Collaborations like these are key to building a resilient and responsible energy ecosystem.' In 2023, Delta achieved a 39 per cent reduction in Scope 1 and 2 emissions compared to its 2021 baseline. Between 2010 and 2023, Delta's energy-efficient products enabled global electricity savings of over 45.5 billion kWh, resulting in 23.84 million tonnes of carbon dioxide emissions avoided, according to the company. Niranjan Nayak, Managing Director, Delta Electronics India, said, 'Sustainability is central to Delta's purpose. These PPAs are more than transactions—they are part of a long-term strategy to decarbonize our operations and contribute meaningfully to India's green transition. They also reaffirm our commitments under global frameworks like RE100 and the Science Based Targets initiative (SBTi).' Delta's renewable energy strategy also includes smart grid innovations and real-time energy monitoring using its own automation and IoT technologies. The company has built 35 certified green buildings and operates two net-zero certified data centres globally. Rachna Kango, Senior Director – ESG & Strategic Marketing, Delta Electronics India, said, 'Delta is proud to partner with forward-looking enterprises like Ventus Energy Consultancy to accelerate the clean energy transition. These collaborations reflect our belief in inclusive, stakeholder-driven sustainability and demonstrate how ESG goals can be met through innovative and region-specific energy solutions.' P. Vijayabaskaran, Director of Ventus Energy Consultancy, said, 'With over 15 years of experience in renewable energy and a portfolio managing 750+ MW of wind and solar assets across Tamil Nadu, Ventus Energy Consultancy is proud to support Delta Electronics in its journey toward industrial decarbonization.' Delta Electronics operates 73 R&D centres and 55 manufacturing sites globally and employs over 81,000 people. The company's plan includes expanding renewable sourcing across its Indian facilities.
Newsweek
27-05-2025
- Business
- Newsweek
Measuring Climate Tech Investment Yields a New Shade of 'Green' Business
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Newsweek's 2025 ranking of the World's Greenest Companies highlights major global companies taking action to reduce their impacts on the environment and our climate. Newsweek's data partners, Plant-A Insights Group and GIST Impact, reviewed public information on thousands of companies and scored them on performance in greenhouse gas emissions, water use, waste generation and commitment to disclosure of sustainability data. The resulting list includes 750 large companies. More than half of those companies have had their emissions reduction goals certified by Science Based Targets initiative (SBTi). An independent nonprofit, SBTi evaluates a company's decarbonization plans according to how much and how quickly they need to cut emissions to meet international targets to prevent the worst effects of climate change. The companies on the list have undertaken important and often difficult work to reduce the carbon pollution from their operations, energy consumption and supply chains. But as crucial as those efforts are, a company's low carbon footprint isn't the only way to assess its climate impact. A Harvard Business School measure of business investments in climate solutions provides a different perspective on green companies. A Harvard Business School measure of business investments in climate solutions provides a different perspective on green companies. Photo-illustration by Newsweek/Associated Press/Canva "Many companies that need to transition in order for the world and the economy to transition to a low carbon economy have a fundamentally high carbon footprint," Harvard Business School Professor of Business Administration George Serafeim told Newsweek. Companies in information technology, electronics and financial services tend to dominate rankings of green companies—industry sectors that are inherently less carbon-intensive by the nature of their work. But Serafeim said it is the highly-polluting sectors such as steel, cement and heavy manufacturing that must do the dirty work of decarbonizing, cleaning up the industries with the most emissions. "The question is, how can those companies develop products and services to satisfy demand in the marketplace in a way that creates lower carbon emissions?" he said. Serafeim is co-leader of a lab within Harvard's Digital Data Design Institute that set about developing a way to measure climate work that tackles the hard-to-decarbonize areas of the economy. The researchers started by turning the problem on its head. Net-zero targets or other emissions reduction plans take a business risk approach, Serafeim said—carbon pollution presents a risk the company is seeking to reduce. "We have adopted a business opportunity perspective rather than a business risk perspective," he said. The team identified about 80 business opportunities in key technologies and practices that are most important to a low-carbon economy, including renewable energy, batteries, electric vehicles (EVs), plant-based foods, recycling solutions and low-emissions manufacturing. Instead of looking for company pledges to reduce emissions, Serafeim and his team looked for proof that companies were increasing investments in those climate solutions. They tapped another emerging technology, artificial intelligence, to help them find proof, developing a large language model to scan business disclosure documents. The result, called the Institute for Business in Global Society (BiGS) Climate Innovators 100, is a list of companies that you might call a different shade of green. "Many of those are not the companies that you would think about necessarily as green companies," Serafeim said. "They are sometimes in energy intensive and, as a result, high carbon-emission industries, and they are transitioning their product portfolios to provide solutions." The BiGS Climate Innovators list is not meant to supplant a list of green companies; rather, it supplements rankings of businesses with strong emission reduction goals to provide additional context about the efforts that are needed to meet the climate challenge. There is some overlap between the Harvard list and the Newsweek ranking of Greenest Companies. EV makers General Motors and Tesla show up on both lists, as do low-carbon energy companies such as Array Technologies and Public Service Enterprise Group. Agriculture company Bunge makes both lists due to its aggressive emissions reduction targets and its investments in climate solutions. Last June, Bunge officials told Newsweek about the company's work to cut emissions of a powerful greenhouse gas, N2O, that can arise from the use of nitrogen fertilizer. In Brazil, where Bunge and its partner companies grow sugarcane for ethanol, the crop has traditionally relied heavily on nitrogen fertilizer. But by switching to biological products instead of mineral additives, the company cut its use of nitrogen fertilizer in half and reduced greenhouse gas emissions by a third. Other companies on the Harvard list of Climate Innovators might raise some eyebrows among environmentalists. Oil and gas company Valero Energy Corp ranks highly, as does chemical manufacturing giant Dow. "They are actually providing a lot of advanced materials that are needed," Serafeim said. "You see a lot of those examples in the list, which reflects the underlying reality, which is basically that they are providing lots of the solutions that the world needs." Serafeim said this approach can be a challenge for traditional Environment, Social and Governance investors who seek out companies with the cleanest profiles for a low-carbon portfolio. "That is just not the way that the world will decarbonize," he said. "The uncomfortable reality is that we need most of the energy-intensive and, as a result, high carbon-emission companies and industries to be innovating and to be deploying capital for those solutions."
Yahoo
27-05-2025
- Business
- Yahoo
Universal Corporation's GHG Emissions Target Approved by SBTi
RICHMOND, Va., May 27, 2025--(BUSINESS WIRE)--Universal Corporation (NYSE:UVV), a global business-to-business agriproducts company, announced its ambitious Net-Zero target has been approved by the Science Based Target initiative (SBTi). This significant achievement underscores Universal's commitment to sustainable business practices and its proactive approach to mitigating climate-related impacts. The SBTi approval confirms that Universal Corporation's current net-zero target meets the rigorous criteria set by the initiative. This target is part of Universal's broader sustainability strategy, which includes reducing greenhouse gas (GHG) emissions across its entire value chain and investing in innovative solutions to mitigate the Company's environmental impact. Specifically, Universal Corporation has committed to: Overall Net-Zero target: Reach net-zero greenhouse gas (GHG) emissions across the value chain by 2050 Near-term targets: A 45 percent reduction in absolute scope 1 and 2 GHG emissions by 2030 as compared to 2024 A 25 percent reduction in absolute scope 3 GHG emissions from purchased goods and services, capital goods, waste generated in operations, business travel, processing of sold products, and use of sold products within the same timeframe Long-term target: A 90 percent reduction in absolute scope 1, 2 and 3 GHG emissions by 2050 as compared to 2024 Universal Corporation also commits to no deforestation across its primary deforestation-linked commodities by December 2025. These targets are part of Universal's broader sustainability strategy, which include reducing greenhouse gas (GHG) emissions across its entire value chain and investing in innovative solutions to mitigate environmental impact. Preston D. Wigner, Chairman, President, and Chief Executive Officer of Universal, said, "Sustainability is good for our business and is good stewardship in the communities in which we operate. Our business strategy integrates responsible business practices, and we believe our commitment to sustainability is a competitive advantage in the global marketplace. The approval of our net-zero target by the SBTi is a testament to our ability to drive positive business results while making a positive commitment to stewardship." About the Science Based Targets initiative The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. Partner organizations who facilitated SBTi's growth and development are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets. About Universal Corporation Universal Corporation (NYSE: UVV) is a global agricultural company with over 100 years of experience supplying products and innovative solutions to meet our customers' evolving needs and precise specifications. Through our diverse network of farmers and partners across more than 30 countries on five continents, we are a trusted provider of high-quality, traceable products. We leverage our extensive supply chain expertise, global reach, integrated processing capabilities, and commitment to sustainability to provide a range of products and services designed to drive efficiency and deliver value to our customers. For more information, visit View source version on Contacts Universal Corporation Investor RelationsPhone: (804) 359-9311Fax: (804) 254-3584Email: investor@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
