COVID gives the Sustainability ‘kick’- Adani

Adani & the TSS 2021 inauguration

COVID gives the Sustainability ‘kick’- Adani

‘Convergence of sustainability and digitization is the future’

TiE Hyderabad hosts the world’s largest sustainability summit

HYDERABAD, Oct 4 (The CONNECT) – The Covid 19 pandemic has forced us to find the will to kickstart a massive Environmental, Social and Governance (ESG)-driven economic transformation and the convergence of sustainability and digitization will establish new disruptive business models that will create the next set of unicorns, said Gautam Adani, chairman of Adani Group.

In his video-recorded keynote address for the three-day ‘TiE Sustainability Summit 2021 (TSS- 2021)’ Adani said, “I am also confident that the most viable climate change solutions will be digital, and technology-driven — supported by policies that help accelerate adoption.”

“My optimism comes from the realization that the impact of the pandemic would have been far more terrible had the digital technologies of today been absent. This should be an indication of the opportunity before us,” he said.

The inaugural of TSS- 2021, which was held physically at HICC and broadcast online, saw a record number of 40,000 registrations from among social enterprises across 55 countries and 5 continents.

The virtual event, hosted by TiE Hyderabad, will feature 225 speakers, 65 sessions over six tracks and 200 investors. These numbers make it the largest ever TiE event, the largest entrepreneurship conference, and the largest ever gathering of social enterprises in the world.

Adani said organizations such as TiE become essential as they enable collaboration across entrepreneurs and investors who see opportunities wherever intersections and friction exist.

On the promising technologies for the future, he said solar is the fastest-growing source of power. Over the past decade, the price of solar panels has dropped by 90% and possibly over the next decade we will see price drops of the same magnitude as panels become even more efficient and new materials come into play. The fact is that the marginal cost of solar power is moving towards “zero” and this is both transformative and disruptive.

Hydrogen is the trigger for the smarter use of other renewables by becoming the long-term transport and distributed storage solution for electricity. It is the key link in the energy transition journey that, along with wind and solar, will stabilize decentralized power generation. For India, decentralized power generation is a massive game-changer — especially for the rural population, Adani said.

Referring to the Adani group initiatives, he said the enterprise is tripling its solar power generation capacity over the next four years. “This is a rate of growth currently unmatched by any other company anywhere on the planet. Our Renewables Portfolio has reached the initial target of 25GW a full four years ahead of schedule. Today, we are already the world’s largest solar power player. This puts us well on track to be the world’s largest renewable power generating company by 2030,” he explained.

Also, over the next decade, Adani group will invest over 20 billion dollars in renewable energy generation. Its overall organic and inorganic investments across the entire green energy value chain will range between 50 and 70 billion dollars. This will include investments with potential partners for electrolyzer manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms, Adani said.

He was confident that “our integrated value chain, our scale, and our experience puts us on the road to be the producer of the least expensive green electron anywhere in the world”. “This advantage opens several new pathways for us including setting us up to be one of the largest green hydrogen producers in the world, thereby opening up additional possibilities to be a partner of choice for several other industrial businesses, Adani said.

Manohar Reddy, Chair - TSS 2021, and President TiE Hyderabad and CEO Feuji Inc; Mr. Mahavir Sharma, Past Chair (2020), TiE Global and Co-Founder, Rajasthan Angels;  Mr. Suresh Raju, Conference Co-Chair TSS2021, VP - TiE Hyd, MD Golden Hills Capital welcomed the gathering.

Addressing the gathering Jayesh Ranjan, Telangana Principal Secretary of Industries & Commerce (I&C) and IT, said, the state, though just 7 years old, demonstrated in umpteen domains how sustainability can be achieved. From the days of drought prone to neglected agriculture to outbound migrations to depleting forests, diminishing groundwater levels, power holidays, the state has been doing very well on many fronts that is because of a clear vision of sustainable Telangana.  

Ranjan highlighted the government’s ambitious programs such as haritha haram in greening the state and Mission Kakatiya reviving 47000 lakes in the state. He also highlighted Telangana’s performance in the generation of renewable sources of energy, electric mobility by introducing a clear-cut policy and so on. Moreover, the state is futuristic in environmental management. That is the reason why the state could attract whose-is-who of the world to invest in the state.

He said Costa Rica and Israel, the partner countries of TiE Sustainability Summit, exemplified the best of Sustainable living.

Costa Rica is the best in global environmental standards. Telangana state would like to explore oil farm cultivation in partnership with Costa Rica. “We wish to emulate them,” he said.    

Dr. Claudio Ansorena, Ambassador, Republic of Costa Rica, said his country is the leader in Sustainable Environmental Issues. “We are a small nation. India is 55 times bigger than us. But our shared values are common such as democracy, peace, sustainability, and the environment.

Costa Rica, he said, embarked on the journey of sustainability as early as 1970. 99% of energy consumption is renewable energy. The country’s forest cover rose from 26% in the 1980s to 59% now.

Pointing out that the planet is heating up, glaciers are melting, sea levels are increasing, he said it is not the failure of the environment but the morals of the society.  

TiE Hyderabad and TiE Israel have entered in to a MoU to foster more business collaborations. 

In his welcome address, Manohar Reddy, Chair of TSS 2021 and President of TiE Hyderabad said sustainability is the new oil and offers a lot of opportunities. The summit has partnered with Israel and Costa Rica to build a better future.

“While the whole world is discussing sustainability, we have already started acting,” he said.

Mahaveer Pratap Sharma, Co-Chair of TSS 2021 said TiE is always ahead of its time. It has been working at the bottom pyramid of the chain. It has impacted the entrepreneurial ecosystem in the country.

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