IndiGo reinforces its commitment towards environment,

                     IndiGo reinforces its commitment towards environment, 

        partners with CSIR-Indian Institute of Petroleum for Sustainable Aviation Fuel

IndiGo, India’s leading carrier, in line with its vision to reduce the environmental impact of aviation, has signed an agreement with CSIR-Indian Institute of Petroleum (CSIR-IIP), Dehradun to become partners in leading the deployment of sustainable aviation fuel (SAF) in India and globally. Under this partnership, IndiGo and CSIR-IIP will enter into specific arrangements for projects for SAF based on techno-commercial feasibility and Environment, Social, and Governance (ESG) value creation. IndiGo desires to be an anchor partner to such Institutes and oil refining companies in the future to address the core issue of Carbon Emissions and take a lead in demonstrating its commitment towards sustainable and responsible growth. IndiGo is the first airline in India to have launched an ESG report and has been working tirelessly across all key aspects of ESG including reducing our carbon footprint, building a diverse and inclusive team, strengthening internal governance, and supporting the aspirations of the local communities in which we operate. We will also be releasing our second ESG report which will be aligned with leading standards such as Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB)

Mr. Ronojoy Dutta, Whole-time Director & Chief Executive Officer, IndiGo said, “As a responsible airline, we have always understood the importance of making a difference towards a greener future. We have partnered with CSIR-Indian Institute of Petroleum to ensure that we are working towards controlling emissions and in the process building supply chains for manufacturing and deploying sustainable aviation fuel in India and globally in the foreseeable future. IndiGo is committed to creating a platform to bring our business partners and customers together on key strategic ESG initiatives.”

Mr Dutta added, “The Agreement also cements IndiGo’s commitment towards responsible growth, its desire to effectively manage its climate footprint in line with India’s commitment to achieve Net Zero Emissions by 2070. We are committed to thought leadership in this domain and are exploring innovative solutions to the challenges of the present and the future.”

Dr. Anjan Ray, Director CSIR-IIP, added that “CSIR-IIP is committed to achieving India's goal of net-zero greenhouse gas emissions and indigenous, globally competitive, sustainable fuel production for a wide range of transportation and industrial uses We will be collaborating with IndiGo on projects that will help control emissions, reduce carbon footprint and align on UN Sustainable Development Goals. We believe that the synergies between IndiGo and CSIR-IIP can enhance national self-reliance as well as strengthen India’s position in the global aviation sector.”

IndiGo and CSIR-IIP will work together on the following areas:

• Single Reactor HEFA Technology for Drop-in liquid Sustainable aviation and Automotive Fuel (DILSAAF)
• Vacuum swing adsorption process for the up-gradation of raw biogas to pipeline quality bio-methane
• Room Temperature Biodiesel Process for deployment in Ground force vehicles
• Conversion of Waste Plastics to Fuels and Petrochemicals for deployment in Ground Force Vehicles

Edelweiss Group Releases its

Edelweiss Group Releases its FY 2020 Sustainability Report

·         One of India’s first non-banks to publish a Sustainability Report

·         Sustainability Report Aligned to 9 of the 17 UN Sustainable Development Goals (SDGs) which are globally accepted

·         Sustainability initiatives driven by a Council of Senior Leaders for ESG, led by a Board Director

·         Enhanced disclosures in FY20 through benchmarking against 50+ GRI standards

Edelweiss Group, one of India’s leading diversified financial services conglomerates, published its annual Sustainability Report today, reaffirming its commitment to a sustainable future. In its third edition, the report encapsulates the Group's Environmental, Social and Governance (ESG) initiatives, providing an overview of its exigent Covid-19 efforts and sustainability disclosures, benchmarked against 50+ Global Reporting Initiative (GRI) standards. Edelweiss has voluntarily adopted the United Nations Sustainable Development Goals (SDG) framework since 2018 and aligned its ESG efforts to 9 of the 17 SDGs. 

The Sustainability Report 2020 is available here. 

Edelweiss has a robust diversified platform spanning  Credit, Wealth & Asset Management, Asset Reconstruction and Insurance with sustainability practices adopted across all business functions. Addressing the needs of diverse stakeholders including employees and customers,  the Group is leveraging technology to further strengthen its operating structures, systems and processes to deliver on its sustainability commitment. As part of its efforts to institutionalize this process, an ESG Council has been appointed, comprising Senior Leaders, with Board level oversight, to meet the outlined goals.

Launching the Sustainability Report, Vidya Shah, Chairperson of the ESG Council at Edelweiss Group & CEO, EdelGive Foundation, said, “We are firm believers in doing business the ESG way. Sustainability principles are embedded in our business operations and we strive to have a positive impact on the communities we operate in. While the current report is an entirely organic effort put together by our ESG leaders and teams, these benchmarks reflect our resoluteness of purpose and our ambition to measure our progress, year on year. We seek  to get our Sustainability Report assured by an independent external advisor in the next few years, as we remain steadfast in our ESG journey.” she added.

Large Indian conglomerates and banks have adopted global sustainability reporting practices and nearly 72% of the NIFTY constituents have issued standalone sustainability reports. Beyond Nifty 50 companies, very few companies report on sustainability based on internationally accepted frameworks like GRI. Globally, asset managers and investors are increasingly looking at ESG as an important investment parameter. In India, asset managers have launched funds that target their investments towards companies that are compliant with ESG adoption. Edelweiss’s Asset Management entity (EAAA), India's largest player in Private Debt (AUM of Rs. 217 billion as of FY20) has voluntarily adopted the ESG policy, anchored to Principles of Responsible Investment (PRI) and UN Global Compact's 10 principles.