CXO Outlook – May 2022 – India Edition – Green Business - Inspiring Ideas and Insights in 2022 by Connecta Innovation

INDIA EDITION

MAY 2022

INSIGHTS. IDEAS. INSPIRATIONS

IDEAS, INSIGHTS & INNOVATIONS TO KNOW IN 2022

CXO OUTLOOK May 2022

May 2022

Vol - 3 Issue - 5

Green Business Trends in 2022 Special (India Edition) Head of Advisory Board

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LETTER FROM THE EDITOR

How to Save the Planet Earth?

“T

here are two numbers you need to know about climate change. The first is 51 billion, the other is zero,” Bill Gates starts his book How to Avoid a Climate Disaster with these curious lines. He then explains that 51 billion is how many tons of greenhouse gases the world typically adds to the atmosphere yearly and that we need to aim for zero. How do we get to this zero mark? We need to change how we live so that we leave tiny carbon footprints. It is not going to be an easy task. Fortunately, entrepreneurs worldwide have realized the importance of going green, and it is becoming increasingly attractive as a business strategy. Unlike a regular businessman, a green entrepreneur does not think only about making a profit. By definition, green businesses, also called sustainable companies, seek to balance profit with the health of the planet and its various populations. It does not mean the entrepreneurs who run green businesses have limited opportunities to make profits like regular businessmen. Today’s young generation, especially the millennials, want brands that embrace purpose and sustainability. A survey conducted

by PwC found that 58 percent of millennials prefer to have eco-friendly materials. However, researchers have also pointed out that consumers who have a positive attitude toward green products would go for cheaper products available in the market, as they prioritize their wallets rather than their planet. Technology is helping businesses to make innovative products that would green consumers. In this issue, we discuss the opportunities and challenges of eco-friendly companies. We have included opinions, insights, and ideas gathered from industry experts to help our readers understand the potential of green technologies that would help us save our planet Earth. Enjoy reading.

Sarath Shyam

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Dr. Varughese K.John, PhD, MBA, MPhil, MCom, LLB. Dr. Kuldeep Nagi, Ph.D, MBA, BSc.

Former Program Director, MS in Management Program, GSATM - AU

Former Program Director of Ph.D, Recipient of Fulbright Fellowship Award & Dan Evans Award for Excellence and Writer columnist.

Mamta Thakur Former CEO (ASEAN), Arc Skills

6 Dr. Ajay Shukla, Ph.D, MBA, BE. Co-founder and Chief Strategy Officer at Higher Education UAE

Mr. Amulya Sah, PGD PM & IR, PG Diploma in PM&IR (XISS Ranchi)

Chief Human Resources Officer, Former Head HR group Samsung R&D Institute India,Transformative HR Leader, Change agent, Digitization facilitator, Engagement architect, Trainer and Diversity champion.

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Mr. Sreedhar Bevara, MBA, B.Com Dr. Manoj Varghese, Ph.D

Senior Director - Global Partnerships, Advisory & Consulting - Connecta®, Head of Advisory Board Higher Education Digest® & K12 Digest®, Adjunct Faculty Assumption University, Former CIO - Athena Education, Former Global Director Technology - GEMS Education

CEO at BMR Innovations, Ex Senior General Manager at Panasonic, LG, The Hindu, TATA, Author: Moment of Signal & The Roaring Lambs, Motivational Speaker & Leadership Consultant.

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IN MY VIEW

How Green is the Green Bonds?

Dr. Narayani Ramachandran, Associate Professor - Finance, NMIMS University, Bangalore campus

George Rajkumar, Country President, Grundfos India

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Harnessing the Untapped Potential of Recycled Water in the Country

Why Sustainability and Inclusivity is the Showstopper We Need in 2022

Siddharth Parmar, Managing Partner, EQUL Store & Magazine

LEADER'S INSIGHTS

The Challenges Electric Vehicle Industry Faces in India

Vikas Aggarwal, MD & Founder, Ipower Batteries Pvt Ltd

Challenges in Recycling EV Batteries in India

Shubhankar Chaudhry, CEO, One Moto India

Sustainable Future Begins Today

Pooja Shetty, Head Marketing and Communication -South Asia, TempRite® Lubrizol

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LEADER'S INSIGHTS

Five Environment-Friendly Benefits of EVs

Ashutosh Verma, Founder, Exalta

EXPERT OPINION 10

Greener Planet Tomorrow With Electric Vehicles

Amit Singh, Founder, TelioEV

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Sustainable Investing: Fashion and ESG

Gautam Gupta, Co-Founder, By Label Asha Gautam

EXPERT OPINION

Metal Recycling to Support the EV and Automobile Industry in 2022

Rajesh Gupta, Founder, Nupur Recyclers

The Role of Recycling in Environmentalism

Madhur Rathi, CEO and Co-Founder, Econiture

Electric Vehicles: The Shining Sector for Investment in Sustainable Future

Tanesh Gagnani, Executive Director, Akasa Finance Limited

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IN MY VIEW

HARNESSING THE UNTAPPED

POTENTIAL OF RECYCLED WATER IN THE COUNTRY George Rajkumar, Country President, Grundfos India

ith the rising climate concerns, we continue to witness a disruption in weather patterns that result in an imbalance in water access, increasing water scarcity and reduced groundwater levels. As world nations are adopting measures to combat climate change, water reuse is growing to be a primary propeller in addressing these climate issues and moving towards a sustainable future. In India, demand for water is growing across various sectors, with irrigation estimated to need 1072 billion cubic tons by 2050. Drinking water, industrial processes and energy sectors are also expected to see an increase in water consumption. As the country stives to become a powerful world economy, the disparity in demand and availability of water is only expected to grow in the years to come. Being a water-stressed country, it is pertinent that India realizes the potential of water reuse in all walks of life and embed it in India’s policies as a fundamental rule.

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However, water reuse has been a largely uncharted domain. Globally, about 80% percent of the wastewater flows back into the ecosystem untreated or without being reused. According to the Central Pollution Control Board (CPCB), India treats only a little more than a third of its sewage generated per day. With appropriate treatment solutions and awareness on the power and profitability of recycling water, India can fully explore water reuse and conserve the available freshwater. Identifying the scope of water reuse Today, many sectors that are heavily water dependent can implement solutions for water treatment to become self-sufficient in addressing their water needs. This includes industrial facilities of pharmaceuticals, food & beverages, automobiles, chemical & energy, as consuming clean water and generating greywater is a continuous and linear process. Instead, with the use of treated water, a circular mode of water consumption can be

With appropriate treatment solutions and awareness on the power and profitability of recycling water, India can fully explore water reuse and conserve the available freshwater

Rajkumar has been associated with Grundfos India since 2001. During this time, he has held various positions in operations, customer support and supply chain in India, Singapore, South Africa and in South American countries like Brazil, Argentina and Chile. Since 2013, he has been involved in formulating new strategies for expanding the company’s foot print in India, including setting up a green field manufacturing centre in Ahmedabad, India. In his recent role at Grundfos, George Rajkumar was the Director Operations Strategy for the Asia Pacific Region. Rajkumar holds a Mechanical Engineering degree from Bharathidasan University.

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Strict implementation and awareness of Zero Liquid Discharge (ZLD) or Minimum Liquid Discharge (MLD) in strategic locations will go a long way in furthering the country’s water reuse potential

adopted, saving litres of freshwater and reducing the burden of overexploited groundwater. Commercial and residential buildings also continue to discard wastewater in their own capacities. From watering plants, to using it in HVAC systems and to acting as a buffer in chemical plants, the prospects to used treated water are endless. Therefore, this calls for solutions that are designed for varied water treatment needs. It ranges from understanding the concept of reuse, the type and quality of the liquid, the level of treatment required, the infrastructure in place among others. There should also be a focus on the use of appropriate technology that can enable efficient water treatment for reuse in various scenarios. Digital technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) have proven to be beneficial in treatment of the resources. Strict implementation and awareness of Zero Liquid Discharge (ZLD) or Minimum Liquid Discharge (MLD) in strategic locations will also go a long way in furthering the country’s water reuse potential. Such plants reduce wastewater economically with a focus on producing clean water. This water can then be used for agriculture, industrial processes and domestic toilets and more. An aspirational case of water reuse from recent times is Singapore committing to treat sewage water into clean water for human consumption. The land-scarce country has installed giant pumps deep underground at

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a processing plant. This setup transforms sewage into water completely fit for human consumption while curbing ocean pollution. Given the scarcity of water, the government had invested in developing an advanced system for treating sewage involving a network of tunnels and high-tech plants. The system has been so efficient that it now meets 40% of the country’s water demand. It is also said to rise to 55% by 2060. This is a stellar example of how a comprehensive plan can be executed to create circularity in water consumption. Paving the way for a holistic water reuse ecosystem The coming together of various stakeholders can show the possibilities of actualizing water reuse as an active process in India. This can start from with the creation of an industry body or an advisory board that can guise policymakers in implementing water reuse techniques for different sectors. Since water reuse spans across various levels, expert counselling on how to execute water treatment for industrial, commercial and domestic applications can help is strategically tapping into the right solutions for each grey water type. Furthermore, individuals can practice water recycling measures at homes and workplaces to develop and normalize the conscious habit of water reuse. This way, India can create a holistic water reuse ecosystem that can ease the demand-supply gap of water.

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LEADER’S INSIGHTS

CHALLENGES IN RECYCLING EV BATTERIES IN INDIA Shubhankar Chaudhry, CEO, One Moto India

Shubhankar Chaudhry is an entrepreneurial business development executive who is passionate about creating scalable tech-centric solutions. He has advised various multinational corporations to evaluate the risks and opportunities inherent in the Indian industry and to implement solutions that produce enduring results for his clients. He has extensive experience dealing with a large number of government clients and public sector undertakings; multilateral funding agencies; large private sector conglomerates.

lectric Vehicles are often highly praised due to their sustainable and eco-friendly disposition. This contributes positively to their increasing popularity in India and across the world, and also because the emissions released by these automobiles are significantly less compared to typical fuel-based cars. However, a new factor is rising in the discussion of EVs that attributes to how the eco-friendly benefits of electric vehicles can be overthrown by the challenges faced when recycling the batteries. Recycling an electric vehicle's battery is highly crucial; however, the process includes ample obstacles due to which the process of recycling EV batteries is considered highly demanding.

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1. Collecting and dismantling batteries At least 50% of materials, in used-car batteries and accumulators, are supposed to be recycled. However, to complete recycling, the first step that producers are obligated to follow is to collect used batteries through their own means, which highly increases the cost value of the procedure. Furthermore, continuing to hire a specialist partner for recycling is also vital. Ultimately the task is befallen upon car manufacturers. And thereon, the exact process will depend upon the particular battery's technology and composition. For instance, if one uses a lithium-ion battery, many aspects need to be considered before recycling the battery. First, it begins with disassembly, wherein a single battery

RECYCLING AN ELECTRIC VEHICLE'S BATTERY IS HIGHLY CRUCIAL; HOWEVER, THE PROCESS INCLUDES AMPLE OBSTACLES DUE TO WHICH THE PROCESS OF RECYCLING EV BATTERIES IS CONSIDERED HIGHLY DEMANDING

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consists of at least several hundred lithium-ion cells that are together combined into large modules comprising the battery. Disintegrating such intricate parts can be highly time-consuming. There are other electronic components to disassemble, including the ones that are responsible for functions like battery operating and assuring safe usage. In addition, the size of the battery poses another complication as it will be different from other kinds of batteries, along with various number of parts. Basically, the process of disassembly needs to be altered in accordance with a battery‘s capacity. 2. Recycling each and individual lithium-ion cells Generally, used or old and damaged EV batteries are required to be drained off their energy residue before the process of

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disassembly begins. Their smaller components like soldered joints, plastic, metals, and structural elements are delivered to their dedicated recycling chambers. But then comes the most significant step in the threat, which is the lithium-ion cells. They are filled with abundant chemical elements like lithium, nickel, cobalt, and manganese. Hence, in order to recycle, these elements need to be segregated before they are treated, to make them reusable in their raw forms. This takes a highly complicated process, and a large number of human resources to recycle only a small volume. The technical process further varies following the model at hand and also the exact nature of the chemicals included. In some instances, many prefer to begin with grinding materials, followed by a separating mechanism known as

pyrometallurgy. This treatment requires exceptionally high temperatures and thus has a dedicated chamber. Later on, the steps lead to refining, with another process of high level expertise called hydrometallurgy. Lastly, the cogency of recycling treatment is estimated by specific established criteria that include the reusability of the generated raw materials and the amount of energy disbursed into the process. This often scales on how viable it is to manufacture lithium batteries and later recycle them following this process. These estimates directly help in evaluating the approximate ecological footprint of electric vehicles.

THE CURRENT ELECTRIC VEHICLE MARKET GROWTH IN INDIA IS AT 0.8%; HOWEVER, IT IS BOUND TO GROW EXPONENTIALLY IN THE NEAR FUTURE, OWING TO THE SIGNIFICANT DEMAND FOR THE AUTOMOBILE MARKET IN THIS COUNTRY

3. Reusing raw materials and entering recycled batteries into a short loop Another obstacle that makes recycling EV batteries hard, is reusing the recently processed raw material from used batteries to manufacture a new electrical vehicle‘s battery, thus creating a short loop. This is mainly done to reduce the requirement of extraction and transportation costs. Still, in contrast, many recommend delaying the process of recycling old batteries as long as possible, so that manufacturers are able to use batteries that no longer fulfil the demands of a high powering model. This is to prolong the life of recycled batteries so that they are not transferred to manufacturers, as damaged batteries need to be processed again. For all the recycling steps, high-level experts are needed with their specialised burners and chambers to recycle individual parts of the battery. If this newly recycled battery is quickly included in the short loop, then subsequently, it will become harder to treat and extract a high percentage of raw materials from them in the future, and ultimately it will become an indecomposable waste. Conclusion The current electric vehicle market growth in India is at 0.8%; however, it is bound to grow exponentially in the near future, owing to the significant demand for the automobile market in this country. Evaluating the future usage and arising opportunities related to the EV sector, it is prudent to contemplate how India will manage the recycling aspect of the EV industry. Furthermore, apart from encouraging policies for EV start-ups, other challenges like lack of proper legislative guidelines are waiting to be addressed soon by the government. Therefore, in its entirety, the challenges and opportunities will soon be paved for several entrepreneurs to contribute solutions in this sector and reap benefits from its developing economy.

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EXPERT OPINION

Greener Planet Tomorrow With Electric Vehicles Amit Singh, Founder, TelioEV

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Amit Singh is a Founder of TelioEV. TelioEV is an Electric Vehicles (EV) charging network provider.. Amit Singh is a B.Tech from KIET Ghaziabad and his motto is Technology for sustainability.

epleting resources and growing pollution levels, combined with catastrophic climate change, have had a significant impact on our planet. Scientists, activists, and ordinary people emphasize the need to maintain a green environment and safeguard our planet. Air pollution caused by pollutants from vehicles accounts for 27% of the total pollution sources. This extent of air pollution is why nearly 2 million premature Indians die every year. At this critical moment in the global effort to free Mother Earth from the grip of carbon emissions, or CO2, India has embarked on a massive project to electrify its entire transportation infrastructure. This policy adjustment would help India meet its climate change commitments while creating jobs in the EV manufacturing industry. Any country must have appropriate energy security in a sustainable and scalable manner to become a worldwide economic and green power in the modern world. The transport sector is responsible for burning most of the world's petroleum/diesel or any other fossil fuel. This makes vehicles running on roads major sources of global greenhouse gasses emitted as drastic amounts of nitrogen oxides, carbon monoxide, and particulate matter. Researchers from Cambridge, Exeter, and Nijmegen in the Netherlands discovered that driving an electric car is healthier for the environment in 95 percent of the world. How are Electric Vehicles Greener Alternatives for ICE vehicles? EVs use rechargeable batteries to power electric motors. At the same time, conventional automobiles use gasoline or diesel engines to power them. These fossil fuels are limited and would take hundreds of years to replenish. Also, traditional vehicle usage accounts for greater than 10% of the world's greenhouse gas emissions. India currently is importing more than 80% of its crude oil demand, making the supply chain vulnerable to disruptions and international meddling. We will be able to eliminate our reliance on oil for mobility, enhance the system, and enable more renewable energy generation

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Any country must have appropriate energy security in a sustainable and scalable manner to become a worldwide economic and green power in the modern world 22

through secure and stable power grid operations, thanks to electric vehicles. The government of India's primary and greatest goal is to convert 30 percent of new vehicle sales to electric vehicles by 2030, lowering carbon emissions by a billion tonnes and attaining a total net zero by 2070. Such global goals to reverse climate change are the foundation for a greener future. According to the European Energy Agency research, carbon emissions produced while energy generation of an electric automobile is roughly 17–30% lower than driving a petrol or diesel car. Electric vehicles' ultimate promise is a cleaner environment. But this greener future will remain unachievable for many years if investments continue to be in non-renewable energy sources like coal. Using renewable energy to power EV charging infrastructure relieves grid and environmental stress, especially with smart EV charging. For instance, solar panels built on the charging station's premises can be used to charge the batteries,

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allowing EVs to be captured without adding to the grid's load. It has been practically proved that electric cars have resulted in a 20% reduction in greenhouse gas emissions in coal-dependent countries like China. Clean energy (renewable energy) sources allow EVs to be even greener. Vehicle electrification is unquestionably a critical component of the net-zero equation. While it is beneficial to promote electric vehicles, we will need to electrify the entire transportation sector to make a significant effect. However, to ensure that EVs can be used to achieve carbon neutrality, governments will need to address some of the sector's remaining difficulties, such as mining and battery disposal restrictions. Several governments have made the transition to electric vehicles a top priority to meet their climate targets. So far, 17 countries have declared zeroemission car objectives to phase out internal combustion engines by 2050. Let's take a little step toward sustainable transportation and a greener planet with e-mobility.

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IN MY VIEW

HOW GREEN IS THE GREEN BONDS?

Dr. Narayani Ramachandran, Associate Professor - Finance, NMIMS University, Bangalore campus

he notion of ethical use of money can be traced back to Vedas, dated between 1700 and 1100BC. The mention of usury is then present in the religious texts of Buddhism, Judaism, Christianity and Islam. Some argue that the attitude towards the use of money as influenced by religious beliefs and ethics can be interpreted as the early form of sustainable finance. Sustainable finance can be broadly defined as the stocks and flows of financial resources and assets (across banking, investment and insurance industries) which is aligned with a large range of environmental, social and economic objectives and more generally with the delivery of the Sustainable Development Goals(SDGs) as developed in the context of the United Nation Development Program (UNDP). In this respect, green finance should be considered as a fundamental component of sustainable finance. There is no single agreed-upon definition that can clearly explain what green finance is. There is not only

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the term “green finance;” other similar terms like environmental finance, carbon finance, and climate finance also appear these days as the importance of green finance increases. Green finance encompasses Financial Support for Green Companies, Development of Green Technology, Development of Green Financial Products, and Efficient Operation of Carbon Markets. In sustainable finance, the framework put in place for green bonds is by far the most advanced one. This framework, developed within the financial industry, today benefits from a large acceptance of the Green Bond Principles (GBP), issued by the International Capital Market Association (ICMA) in 2014 and then updated in 2018. The GBP are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the green bond market by clarifying the approach to be followed for the issuance of a green bond (ICMA 2018).

In sustainable finance, the framework put in place for green bonds is by far the most advanced one

Dr. Narayani Ramachandran is an Associate Professor- Finance and Chairperson- MBA program at NMIMS University, Bangalore campus. Dr. Narayani has an experience of two decades of academic, research and consulting in the areas of financial markets, products and services. Dr. Narayani is an affiliate member of the council for financial planners- Karnataka and has a keen interest in promoting financial education across age groups & domains. She also offers consultancy in the area of fundraising for start-ups and their valuation matters. Dr. Narayani was the recipient of Awarded Teaching Excellence Award at NMIMS, Bangalore for the academic years 20152016 and 2017-18 & Special mention for Teaching Excellence in 2018-19. Dr.Narayani’s mission in life is to skill people to improve their financial quotient and in turn to sharpen their financial perspectives, which aid them in taking better personal as well as professional financial decision-making.

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While the green bond market has grown significantly during the last couple of years, it still represents a niche market and each analysis has to address issues like low yield, illiquidity and price quality

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When Indian investors and market is gearing up to welcome green bonds in a massive way, there are few issues worth the notice. The green bond issued by the Dutch finance ministry in May 2019, with the maturity in the year 2040, aroused the investor’s interest as it was placed in the market with a spread of 18 basis points above regular Dutch Government bonds with similar maturity. It was a first green bond at all of a triple A –rated European Government. The proceeds were promised to finance sustainable projects in the years ahead. This means that investors generate an additional premium for investing in a nearly risk-free sustainable asset. Denmark and Germany announced to be the next European governmental issuers of green bonds. In both cases, market participants also expect to observe yields slightly above regular issues. While the green bond market has grown significantly during the last couple of years, it still represents a niche market and each analysis has to address issues like low yield, illiquidity and price quality. To correctly price a green bond and to benchmark the performance of bonds is overall critical because each bond is very specific with respect to credit rating, coupon, maturity, covenants, and further conditions. The risk of green washing is impacting the green finance market. Green washing is a phenomenon, when a business uses deceptive ways to claim green when they are not actually green. Green washing happened to be wide spread in the consumer goods industry. As a matter of fact, the lack of universal definitions and standards amplifies such a risk as it opens to several possible interpretations of what green means in the financial markets. For this reason, as the market for sustainability-related certifications and reviews continues to develop, regulation on communication regarding the environmental impact of financial securities, products and services marketed as green should be also expected to become stricter. As of today, several definitions of “green” are in use in the financial market. These definitions primarily try to segregate green securities from their non-green equivalents. They are mainly backed by criteria of possible use of the proceeds coming from the specifi financing instrument and other operational standards or the eligible activities carried out by the companies financed. Nevertheless, high heterogeneity can be observed as concerns approaches, scopes and reliability of the organizations issuing these definitions. In the longer term, this lack of clarity on what is green and what is not green may harm the credibility of the market. In this respect, an effort should be encouraged at an international level to produce reliable and widely accepted references.

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LEADER’S INSIGHTS

THE CHALLENGES ELECTRIC VEHICLE INDUSTRY FACES IN INDIA Vikas Aggarwal, MD & Founder, Ipower Batteries Pvt Ltd

Mr. Vikas’s father started Computech Systems Pvt Ltd in Delhi almost 3 decades back. He joined his father’s business as an adolescent, where they initially sold computers and lead acid batteries. After completing his graduation, he actively involved himself within the closed corporation where his father offered him entire education which he needed to run the business. Around the age of 20, he began to help within the business. He started from the fundamentals by learning about all the batteries, cells, etc. He started from scratch, which helped him learn and understand everything thorough. He coordinated with the company’s manufacturing workforce at the age of 22, which helped him understand the importance of team ideas for mutual growth and learning within the business world.

he much-anticipated electric revolution has landed in India and is definitely here to stay and grow in the years to come. After initial uncertainties, Indian’s are now warming up to the idea of owning an electric vehicle which is evident from the sales growth numbers for EV two wheelers going up in the last year alone. With petrol prices on a sky high and attitude towards adoption of electric vehicles has grown multi-fold, the sales of these vehicles too has shot up which is only a testament to more and more EV scooter companies coming in the market.

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With the ongoing, world dynamics, a shift to EV has become a necessity than an experiment. The Indian 2-wheeler EV market has grown five times since 2020 but even the 3-wheeler, commercial and passenger vehicle are also seeing a remarkable shift. The 2-wheeler has emerged as an undisputed leader in EV industry in India with almost half the EV’s in India being 2-wheelers. This growth trajectory makes the growing industry a promising one in the country. Having said that, the Indian EV industry especially the 2-wheelers segment is fraught with its own set of challenges. The challenges they face are-

THE ISSUE OF AFFORDABILITY IS A PRIME CONCERN FOR THE INDIAN CUSTOMER INSTEAD OF SMART FEATURES LADEN IN THE VEHICLE

CXO OUTLOOK May 2022

1. The issue of affordability is a prime concern for the Indian customer instead of smart features laden in the vehicle. 2. Battery cost of EV 2 wheelers is a pressing issue for both the buyer and manufacturer as major component of battery manufacturing is still imported which makes the overall cost of manufacturing battery, even in India, expensive. 3. The beta version of vehicles is not usually an ideal choice for most customers as both the technology used and the company making it are new to the market and its nearly difficult for any first-time automobile product to come out perfect and when chosen by buyers, they may face a lot of challenges with the product. 4. Poor infrastructure, which not only includes lack of charging stations but also the lack of proper charging being set up at home. 5. Lack of knowledge on the part of the customer on how an EV operates and how it is different from other conventional vehicle being used. 6. Lack of standardization as every EV company has its own charging port which is different from others which also causes a major hurdle in setting up proper charging ecosystem throughout the country. 7. Temperature can affect the performance of an EV battery to a large extent which makes the EV inappropriate for too cold temperatures or too hot temperatures. The battery can give its ideal performance when its under the temperature range 15-40 degrees. 8. Limited skill awareness around EV is another major hurdle that the customer faces as the post sales and service staff for EV needs proper training to handle issues of EV which also comes with a certain skill set. 9. The electricity demand will increase at the national level. There will be an increment in electricity demand when everyone is using EV which solely use electricity for charging. This demand can only be addressed when the country also moves and becomes more reliant of renewable energy to generate electricity, this infrastructure will also enable clean energy initiative. 10. Servicing an EV and its spare parts are more costly when need to be replaced as its manufacturing infrastructure is still at a very nascent stage in India. Adoption is EV in the near future is inevitable but opting for EV need to be done smartly by involving more research and development, skill advancement and training programmes, customer training and knowledge about the product and infrastructure for all kinds of raw materials to be made available within the country to make a smooth and affordable transition to EV.

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Digital First Magazine April 2022

IN MY VIEW

WHY SUSTAINABILITY AND INCLUSIVITY IS THE SHOWSTOPPER WE NEED IN 2022 Siddharth Parmar, Managing Partner, EQUL Store & Magazine

he fashion vertical has become more raw, real, and un-filtered. It’s an era that’s moving away from faking candids and more towards bold and proud. Not only being gender inclusive breaks away from the Patriarchal norms, it also gives everyone the space to breathe, the chance to occupy space and just being them despite their body size or type. From makeup brands that say It’s kay to be you, we need this type of representation in the Fashion field as well. People are becoming more aware, more accepting and it is the change our 16-year-old selves would be happy to see. Not only being more gender fluid inclusive gives you the space to be you, however you are, it is also sustainable and economic for the brands. Unisex clothing is not a fashion fad but a stellar move, individuals are making to claim their space. It’s time to normalize and embrace all body types and sizes, and not just size zero. It also takes away the pressure to dress

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up a certain way to validate your gender preferences. As for sustainability, it’s not just a fashion trend that needs attention, it’s quite literally the need of the hour. With brands completely dropping plastic from their delivery, to taking out a line of conscious and recycled clothing, we have come a long way. When big magnum opus brands start to be sustainable, it automatically trickles down as something everyone needs to adopt. It’s time to make Sustainability cool. There are several brands which are basing their market positioning around gender neutral clothing, body positivity and androgynous clothing. They feature a contemporary range of clothing that features fits, sizes and colors that are completely gender neutral and breaks away from the conditioning of “Pink is for girls and blue is for boys” which is the change we needed. Brands have also started dedicating a line of clothing to sustainability, which are crafted to make you feel

With brands completely dropping plastic from their delivery, to taking out a line of conscious and recycled clothing, we have come a long way

Siddharth Parmar is the jack of all trades, before slaying it at Equl store, he was a producer and had a plethora of experience across various industries like food, fashion, hospitality, business, and event management. He is a fitness fanatic and a traveler who believes in balance. Equl store is much more than a passion project for Sid.

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It’s safe to say that the future is in good hands and the way forward may be hard, but change will come and that too for good

CXO OUTLOOK May 2022

good, both from the fabric and the tailored design which features bespoke loungewear options for you to choose from which includes T shirts, hoodies, joggers, and shorts in a myriad of colors. They also promote for you to be effortlessly bold and expressive without uttering. It’s safe to say that the future is in good hands and the way forward may be hard, but change will come and that too for good. Sustainability and androgynous clothing will be topping the charts not just at fashion weeks but will become a household topic to be inspired from.

CXO OUTLOOK May 2022

EXPERT OPINION

Sustainable Investing: Fashion and ESG Gautam Gupta, Co-Founder, By Label Asha Gautam

CXO OUTLOOK May 2022

T A philosopher, a reader, a traveler, and a lifelong learner, Gautam Gupta co- owner of the label Asha Gautam and the founder of GG by Asha Gautam is an inspired soul, unafraid to take the leap onto bolder avenues. It’s not surprising considering that he grew up with the famed sights and sounds of Chandni Chowk, with all of Old Delhi’s lanes, brimming with history’s tales. These spectacular sights mingled with the influence of his mother and her keen eye for fashion, as well as her unique designs that were often up cycled pieces of beauty, created not just for herself, but for the entire family. His own design philosophy took root alongside his mother’s, all the while he grew with an affinity for nature and its cause as a result of his father, who’d take him all across the country to soak in the wonders that mother earth had to offer.

here is no denying that fashion is one of the biggest contributors to pollution and this needs some serious attention. There are innumerable conferences, seminars, and discussions on how to make the fashion industry responsible not only in terms of the processes of making clothes but also in the way it operates. The list is so long that we even feel guilty as a consumer if you buy from few brands. Yes, with many fold problems there are also solutions which are emerging which need to be amplified, practiced and implemented at a larger basis. The first such action is to slow the process of fashion and use natural fibres and lot of brands have started mentioning the material used in the making. Such transparency in making consumer aware and the ones who believe in responsible consumption do buy from such brands only. Ethical fashion has been a strong voice in leather and fur related products which not used faux leather to create designs. Such transitions are not easy for established brands but then they are following the suit. Recycling and upcycling is another buzz word in terms of responsible fashion and so many brands are even selling things which are made using recycling methods. In India especially lot of old heirloom pieces are recycled and upcycled and now consumers are sharing this openly as compared to earlier times when it was hidden due to social stigma. One of my favorite is extracting the resources from the waste and many such innovations are happening not only from textile waste but also agro waste. There are companies who use all kind of textile waste and redevelop them into lucrative textiles and similarly textiles are developed from fibers of banana, bamboo, aloe vera, soya, coffee beans, and many more leftover plants. Many of them have already been quite viable in the fashion space and some brands only sell designs made from these textiles. Technology has been a big disruptor/ innovator in so many industries and even in fashion it has brought lot of positive changes such as video calls/ Whatsapp for business/ e-commerce and social media marketing avenues such as Facebook and Instagram. One can see lot of reverse migration happening and today more artisans are working closer to home which not

CXO OUTLOOK May 2022

There are companies who use all kind of textile waste and redevelop them into lucrative textiles and similarly textiles are developed from fibers of banana, bamboo, aloe vera, soya, coffee beans, and many more leftover plants

only help in emotional fulfillment but also less carbon footprints. With video calls one can see the progress of designs and work from a distance and one saves time. Even selling digitally has become easy and today there are lot of startups have been part of the fashion ecosystem thanks to technology. It has democratized

CXO OUTLOOK May 2022

fashion as now the designs speak for themselves and one is not heavily dependent on offline exhibitions and forums where big players used to dominate. Where will the next league of artisans come from and this also bring another social important challenge of gender balances in fashion. There are lots more social initiatives taken by some brands and also societies whose efforts need to be appreciated. They are working tirelessly to train women lot of different craft related activity right from tailoring to weavings to embroideries which not only gives them work but increases family household income. Yes, pay structure needs more attention but I am sure with time the real craft of India will be taken care of by women. Lots of ignored sections of society are today becoming part of mainstream fashion which will change the perception of how they are perceived and liberate them with untruly social norms. That smile on their faces is so infectious and shows the progressiveness that is possible with more such initiatives. Glorifying and celebrating them at all avenues possible will further create a ripple effect not only in words per say but also in consumption patterns. One more element which is not very much achieved but needs to be strategized is to use solar electricity for factories and industries at least by bugger brands as some of them own the land and investing in it is easier for them. As a country, we need more labor-intensive businesses and fashion can build that at a global level as we don't have many brands representing India. I see this as a very big opportunity to design for the world with our skills, artisans, and forecast but at the same time make the artisans part of that story. As a country, we manufacture for many iconic brands but it is time we create more indigenous brands which can take the global stage in fashion. One such encouragement is that lot more investment is seen in some designer brands which can further make it look like a proper industry. Making fashion responsible is an all-time challenge with consumerism and influential marketing but there are ways to make it less and less painstaking for mother earth. A lot more can be done especially by using renewable energy, glorifying artisans as cocreator, application of greener technology in production processes, thinking of circular designing, use of more biodegradable materials and the list goes on. I firmly believe that more discussion needs to do on all platforms so that from producer to consumer all make efforts. Corporate governance should not be a model only for big corporate but even MSMEs as India and even the world of tomorrow will get largely affected in the way they think and take actions.

CXO OUTLOOK May 2022

LEADER’S INSIGHTS

SUSTAINABLE FUTURE BEGINS TODAY Pooja Shetty, Head Marketing and Communication -South Asia, TempRite® Lubrizol

Pooja is a digital evalengist at Lubrizol Corporation. Her customer centric data driven approach to her marketing strategies bring relentless success to the brands she has worked on. She ideated some award winning apps and products in highly competitive categories of Home appliance, Led Lighting, Consumer electronics, Fintech and now chemical industry.

cience today recognizes the Earth as a complex humanenvironment system, allowing us to better appreciate how our collective progress as human beings has been hampered by the methods we have used to achieve it. Education for sustainable development must address broader ethical problems such as human rights, supporting values, justice, and fairness. Respect for equality is bolstered by intercultural awareness. Empathy and collaboration are promoted via peace and conflict resolution. A rightsbased education encompasses the concept of education for sustainable development, while also reinforcing the understanding that we all have a common destiny. When governments are driven by the Sustainable Development Goals, they may lead the transformation of the world's social, economic, and environmental situation toward universally positive outcomes. They must,

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however, accept that any transformation would include difficult choices and trade-offs. Sustainable Development The Brundtland Report, which warned of the negative environmental consequences of economic growth and globalization and attempted to find possible solutions to the problems caused by industrialization and population growth, introduced the concept of sustainable development for the first time in 1987. Many of humanity's problems, such as climate change, water scarcity, inequality, and hunger, can only be solved on a global scale and through the promotion of sustainable development, which includes a commitment to social progress, environmental balance, and economic growth. The United Nations approved the 2030 Agenda, which

WHEN GOVERNMENTS ARE DRIVEN BY THE SUSTAINABLE DEVELOPMENT GOALS, THEY MAY LEAD THE TRANSFORMATION OF THE WORLD'S SOCIAL, ECONOMIC, AND ENVIRONMENTAL SITUATION TOWARD UNIVERSALLY POSITIVE OUTCOMES

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includes the Sustainable Development Goals, a call to action to safeguard the planet and ensure the global wellbeing of people, as part of a new sustainable development roadmap. Individuals, corporations, governments, and countries all across the world must work together to achieve these common goals.

Environmental Sustainability Climate change, exacerbated by human activity, has a negative influence on people's lives, ecosystems, and the economy. Among other interrelated impacts, sea levels rise, oceans warm, desertification destroys agriculture, and water shortage undermines expectations of improvement in the most disadvantaged regions. Climate change is the most serious threat to life on this planet as we know it today. Since 1990, CO2 emissions have increased by almost 50%, adding to global warming and threatening the Paris Agreement's objective of keeping global warming below 2°C. The obligation to conserve natural resources and maintain global ecosystems in order to support health and wellbeing today and in the future is known as environmental sustainability. Because many decisions that affect the environment have a long-term impact, one of the most important aspects of environmental sustainability is its forward-thinking nature. Environmental sustainability standards vary widely depending on local economic, social, and environmental situations. Environmental sustainability standards vary widely depending on local economic, social, and environmental situations. However, research suggests that in order to achieve environmental sustainability, a broader, global set of policies or a stronger commitment from businesses themselves may be required. According to a study published in Harvard Business Review, multinational corporations effectively control emissions in nations with rigorous environmental regulations, but they may emit more in countries with more lenient regulations. Social Sustainability The ignored aspect of sustainability is social sustainability. However, throughout the last few decades, our world has been only concerned with economic sustainability. Despite the fact that this method has resulted in widespread material welfare in some parts of the world, a substantial portion of the world continues to struggle to make ends meet. The current financial crises are fuelling questions about whether economic development can be automatically considered as a self-evident good, even in the wealthier

CXO OUTLOOK May 2022

parts of the world. Meanwhile, the ecological footprint is predicted to substantially increase, accompanied by resource strain, as a result of population expansion and concurrent increase in wealth, even in certain developing countries. This necessitates global action. Some developing countries are putting resources into mastering industrial design skills. Furthermore, they have the ability to develop natural and renewable resources like natural fibres. These raw minerals have the potential to help people in these countries maintain their social stability. Millions of farmers already rely on these fibres for their livelihood. Industrial designers can help to the quality of life of millions of poor people by creating designs that are suited for the local context using proper legislative measures and "scientific design" methodologies. Economic Sustainability ESG, or environmental, social, and governance practises, are commonly used to describe economic sustainability practises. Corporations use ESG to lower their environmental footprint or achieve other societal goals. SRI, or socially responsible investing, is related to this. The most common definition of sustainability is meeting current needs without jeopardizing future generations' ability to meet their own. In general, a corporation implements sustainable practises by lowering its consumption of finite resources or discovering alternative resources that are less harmful to the environment. Sustainability refers to a company's complete supply chain, and it necessitates accountability from the top down, all the way down to the suppliers and merchants. If producing something sustainably becomes a competitive advantage for supplying multinational firms, it may be necessary to reorganize parts of the global supply chains that have grown entirely on the basis of low-cost manufacturing. Of course, how aggressively firms embrace sustainability and whether it is a meaningful change of direction or just lip service will determine this outcome. Summing Up Sustainable Development is another name for environmentally sustainable economic growth. The goal is to establish balance between environmental, economic, and socio-political sustainability. Sustainable development constantly urges us to conserve and increase our resources by gradually altering how we produce and use technologies. Employment, food, energy, water, and sanitation should all be met by all countries. A healthy, safe, and clean environment is everyone's right. Reduced pollution, poverty, and unemployment are all simple ways to do this.

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Higher Education CXO OUTLOOK Digest November May 2020 2022

EXPERT OPINION

The Role of Recycling in Environmentalism Madhur Rathi, CEO and Co-Founder, Econiture

CXO OUTLOOK May 2022

Madhur Rathi is the CEO and Co-founder at Recycle Bell Private limited (Econiture). He looks after Holistic Business, finances, Econiture Branding & online sales. With graduation in B.E. (Industrial Engineering) and MBA (Operations), he is an expert in waste segregation and processing and has prior experience in the waste management industry.

ith the massive consumption of material goods, every resident, organisation, and human activity produces waste on a regular basis. Globally, it is estimated that each individual produces an average of 0.74 kilograms of waste every single day. With rapid population growth and urbanisation, annual waste generation is expected to increase by 70% from 2016 levels to 3.40 billion tons in 2050. This concern calls for action, ‘recycling,’ to ensure a sustainable and livable environment for all. It is time to reiterate the fact that Earth has a limited amount of resources that will get exhausted at some point. Thus, recycling helps in saving these new resources for future generations to ensure sustainable development. Primarily in recycling, we use waste to make new products, which in turn saves new resources from getting exhausted. From an environmental perspective, recycling helps in protecting and giving our nature the required time to replenish. It helps prevent one of the biggest threats to human lives: deforestation. Due to paper recycling, the cutting of new trees is reduced. Also, the increasing trend of producing and purchasing recycled furniture has been a positive change in this segment. With the use of recycled furniture, made from wood or plastic waste, trees that would otherwise have been used to make new furniture are saved. There’s more to recycling; this includes the conservation of one of the main functioning elements of earth, which is energy. Preventing waste generation and reusing can decrease the need to extract "virgin" resources from forest covers, oil fields, and mines, to make items and packaging. Involving reused materials in the manufacturing system utilises significantly less energy than expected for producing new items from raw materials. In addition, it also saves additional costs which are required to extract, refine, transport, and process raw materials ready for industry compared with providing industry-ready materials. For instance, recycling aluminum cans consume 90% less energy than manufacturing them from bauxite ore. Similarly, making paper from pulped recycled paper uses 40% less energy than making it from virgin wooden fibers.

CXO OUTLOOK May 2022

Recycling also reduces the carbon footprints in the environment and reduces the pace of climate change. It significantly reduces the extraction of raw materials and the amount of fossil fuels burnt in the process of producing new goods. It takes fewer resources, effort, and money to recycle material into new products. Therefore, it generates less carbon footprint compared to making products from scratch. One of the pollutants of our environment is plastics, which if not safely thrown into the recycling can be carried into water bodies or miles away affecting the water bodies and the allied lives. It is estimated that the amount of energy that can be saved from recycling one glass bottle has the capacity to power an old 100-watt light bulb for 4 hours and a low-energy LED bulb for a much longer time. Recycling also means that there is less waste going into the landfills and less generation of Methane. It is concluded that Methane is a detrimental greenhouse gas that is 23 times more potent than carbon dioxide and is produced when organic products such as paper, food, etc decompose under anaerobic conditions in the landfills. Most of the waste generated from varied sources goes into landfills which results in its expansion. Also, organic waste turns to compost in some time but recyclable or inorganic waste takes lots of time to decompose hence polluting the environment. Recycling reduces the amount of waste being sent to landfills hence saving space, money, and environmental pollution. Apart from its environmental benefits, recycling also has a huge impact on the economic front. It is economically rewarding which makes it a win-win situation for both the planet and the people. Firstly, it is considered that manufacturing from recycled materials

is far cheaper which can cut half of the cost and add to the pockets of the consumers. Secondly, the recycling industry is a growing field, which is generating mass employment by creating new jobs. Industries such as glass and paper manufacturers, steel mills, collection centers, recycled material wholesalers, material reclaimers, converters, and recoverers are pivotal areas of job creation. Thirdly, it is a great source of revenue generation. Most countries can earn handsomely through sales and imports of recyclables. From manufacturing to job creation and revenue generation, the economic implications of recycling are huge. However, in today’s time, it is far more important to remember and inculcate all the 3 R’s - Reduce, Reuse and Recycle equally. Recycling alone is insufficient to change the landscape of our environment if individuals don’t practice reducing and reusing. By incorporating small habitual changes such as avoiding purchasing more than what is needed, resuing all those products which can be used, etc. individuals can contribute towards the bigger goals. Additionally, practicing source segregation is another important step. People should segregate waste into wet and dry waste which makes the process of recycling easier and otherwise ends up in landfills. Also, so as to make recycling economically feasible, people need to buy recycled products and packaging. When recycled products are bought, it provides an economic incentive for recyclable materials to be collected, manufactured, and marketed as new products. It is the need of the hour that recycling becomes a part of every individual’s life to ensure sustainable living for one and all before it becomes too late.

It is estimated that the amount of energy that can be saved from recycling one glass bottle has the capacity to power an old 100-watt light bulb for 4 hours and a lowenergy LED bulb for a much longer time

CXO OUTLOOK May 2022

CXO OUTLOOK K12 Digest May 2022 Sept-Oct 2020

LEADER’S INSIGHTS

FIVE ENVIRONMENTFRIENDLY BENEFITS OF EVS Ashutosh Verma, Founder, Exalta

Ashutosh Verma is the Founder of Exalta, a one-stop solution to green energy innovations, which came into existence in 2009 under Insparc Technologies Pvt. Ltd. He is a visionary entrepreneur and author, who is driven by his core philosophy of infusing intelligence and technology and creating green energy innovations for nation-building. Each of his professional landmarks is focused on helping build world-class integrated and sustainable energy capabilities that India needs to accelerate its growth.

here is a lot of eagerness among people regarding the growth prospects of EVs. EVs look good, but they also have the added advantage of being environmentfriendly. Electric vehicles produce zero emissions, thus making their effect cleaner, better, and more environmentally friendly than conventional vehicles. As the development of EV vehicles increases in substitute to ICE vehicles, the emissions of air pollutants at power plant sites are likely to increase. Still, the emissions of contaminants on the roads are expected to decrease significantly. According to Jasmine Shah, Vice-Chairperson, Dialogue, and Development Commission, the electric vehicle policy

CXO OUTLOOK May 2022

enforced in Delhi would help in reducing the carbon emission by 4.8 million tonnes by 2024. The development of electric vehicles can help decrease CO2 emissions and the demand for petroleum goods. However, there are some problems with this too. The benefits of replacing internal combustion engine (ICE) automobiles with EVs might be negated by comparatively higher air pollutant emissions from manufacturing plants. But the most significant advantage of EVs is that they create less pollution on the road and are environment friendly. While UK and France set their mind to phase out conventional combustion-engine cars by 2040, Nitin

THE DEVELOPMENT OF ELECTRIC VEHICLES CAN HELP DECREASE CO2 EMISSIONS AND THE DEMAND FOR PETROLEUM GOODS

CXO OUTLOOK May 2022

Gadkari announced that India will be running 100% electric vehicles by 2030. In the budget speech 2022, Finance Minister Nirmala Sitharaman shared that India aspires to become a “global hub of manufacturing of electric vehicles.” Conventional transportations have a very negative impact on metropolitan areas. ICE automobile emissions affect human health and agriculture, buildings, and the natural environment. From an environmental perspective, replacing ICE vehicles with EVs is considered suitable for the climate because of the potential decrease in greenhouse gas emissions, especially CO2. Another advantage is that, as EVs become more common. Their manufacturing reaches global heights; battery recycling has the potential to become more efficient and reduce the requirement for the extraction of new materials. Therefore, all this will lower the dependency on mining and the creation of new batteries. EVs generate significantly lower emissions over their lifetime than the vehicles running on fossil fuels, irrespective of the source that produces the electricity.

Five reasons why EVs are environment-friendly Here are the top five reasons why the world is moving towards electric vehicles as they are less destructive to the environment. EVs produce zero direct emissions Full electric vehicles don’t require a tailpipe, as they don’t produce emissions. Traditional machines combust gasoline or diesel, creating energy at the expense of having hazardous carbon emissions. The EVs, on the other hand, are emission-free. The most common type of battery used in EVs is the lithium-ion battery, which can be depleted and charged constantly without contributing to air pollution. Clean battery TODAY, the EV batteries have a carbon trace that’s 2 to 3 times lower than two years ago and growing cleaner day by day. With better understanding and awareness, manufacturers of EVs are setting guidelines for their battery suppliers. For example, they demand suppliers to use renewable energy sources only during product manufacturing. These sources can help the large quantity of energy required to produce EV batteries without releasing dangerous emissions. Eco-friendly production Even when they use fossil fuels, EVs contribute more negligible emissions compared to the ICE vehicles. Many

CXO OUTLOOK May 2022

electric charging stations are using renewable energy to charge EVs. Some are still powered by charcoal-burning and are therefore considered dangerous for the environment. Even when EVs are powered by coal, they still lead to lower emissions over their lifetime compared to the ICE vehicles. Low noise pollution levels Electric vehicles are comparatively much quieter than ICE vehicles and exhaust systems, producing less noise pollution. Although the gas and diesel cars are equipped with silencers to make minimum noise, the exhaust headers are still frequently louder than the standard equivalents. Environment-friendly manufacturing One of the big problems that EV manufacturers face is producing a functional yet lightweight vehicle. Lighter EVs have a lower carbon footprint, but the traditional materials make it difficult to achieve this. But the recycled and organic materials available nowadays are pretty much similar to conventional materials. They’re very light, eco-friendly, strong, as well as durable. Various conventional manufacturers use recycled materials for small components, but these materials are not used for a vehicle’s structure. EV manufacturers are using perfect eco-friendly parts to make lighter and more efficient vehicles. Weight reduction is not just the only benefit of using recycled and organic materials. Still, they are also healthy for the environment. Using new materials like metals and plastics is very unsustainable and creates significant pollution. At the same time, the use of natural or recycled material minimizes the environmental impact both during and after the EV product process. While electric vehicles have a great set of challenges, their use could be a great asset to saving the environment. Now, how favourable the EVs will be will depend to a greater extent on the type of vehicle and the source of the electricity. Some other reasons why EVs are gaining importance are, ● Studies have proven that EVs generate considerably lower emissions over their entire lifetime than conventional vehicles. ● Where electricity generation is coal-intensive, the advantages of EVs are minor but still very significant. ● As countries decarbonize electricity generation to meet their climate targets, driving emissions will further decrease for existing EVs. The manufacturing emissions will also reduce significantly for new EVs.

CXO OUTLOOK May 2022

EXPERT OPINION

Metal Recycling to Support the EV and Automobile Industry in 2022 Rajesh Gupta, Founder, Nupur Recyclers

CXO OUTLOOK May 2022

T Rajesh Gupta, Founder of Nupur Recyclers has a vast experience of over 25 years in the Business & Financial Market. His knowledge and expertise have helped the organization to build new growth horizons. His vision has enhanced the diverse services provided by the company and has enriched our clientele. Rajesh Gupta is B. Com (Hons) from Delhi University. Recognized for his top-notch knowledge and noteworthy ability, he is playing an important role in company management by organizing the unorganized metal recycling industry. His professional familiarity has helped the organization to establish new horizons, apart from enlarging the service range. Besides, his honest vision has helped us in mounting the clientele.

he last decade has been fascinating for the global automobile industry. The progressive leaps by the electric vehicle industry have given the world a hope of greener mobility. Even in the traditional internal combustion engine (ICE) space, enhanced emission control standards aim to reduce the carbon footprint for millions of vehicles running on the roads. However, the industry has a lot more to achieve for sustainable transport. A vehicle's carbon footprint is not only about the emission when it runs on the road. The journey starts at the production stage, where it requires electric circuits made of several precious and rare earth metals, the vehicle body and interior parts made of alloys etc. Needless to say, like any other natural resource, we have limited availability of metals and sourcing every ounce is costly time-consuming. Moreover, it often has a profound impact on the environment. Moreover, once the vehicle completes its lifecycle and goes for scrapping, these metals are often rendered useless or reach scrap dealers who use unsafe and not-so-environmentfriendly methods to extract the metals to some extent. Moreover, these methods are also inefficient in deriving the scrap's total value. Currently, India imports six million tonnes of scrap steel due to a domestic demand and supply gap. Organized metal recycling addresses the metals scarcity, cost pressure, and supply chain constraints to a great extent. As the nomenclature suggests, metal recycling is the process of extracting valuable, precious, and rare-earth metals from scrapped vehicles. These metals can be found everywhere, be the used electric batteries, old engines, or even the rearview mirrors. Global as well as domestic automobile manufacturers are investing in facilities to salvage old parts, but the industry is also looking to recycle the millions of electric batteries used for the electric vehicles of the future Apart from reducing the cost of manufacturing new vehicles, organized metal recycling also provides an affordable source of raw materials to many other industries such as the electronics, steel and waste-to-energy sectors. Given the importance of metal recycling, the Ministry of Mines has notified the National Non-Ferrous Metal Scrap Recycling Framework, 2020. The framework aims to nurture a sustainable scrap recycling ecosystem by adopting optimal processes and standards, cutting edge technology, and environment friendly measures; and work towards creating economic wealth and a shared national responsibility to safeguard the environment and intergenerational equity. There is also a similar proposed mechanism for steel scrap. With the systematic implementation of the Government's plans, there is a significant opportunity to recover rare metals and reduce pressure to import scrapped metals. These savings can easily translate into reduced prices of EVs and remove the price disparity between IC engine vehicles and EVs. By bridging the price gap between the two, the country can adopt EVs faster and progress towards a sustainable future.

CXO OUTLOOK May 2022

EXPERT OPINION

Electric Vehicles: The Shining Sector for Investment in Sustainable Future Tanesh Gagnani, Executive Director, Akasa Finance Limited

CXO OUTLOOK May 2022

W Tanesh Gagnani is the Executive Director of Akasa Finance Limited, previously known as Pooja Finelease Limited. A company specialized in financing electric two-wheelers, threewheelers, batteries for electric three-wheelers, small business loans, personal loans, and real estate loans. Mr. Gagnani began his career with PFL as a consultant, then rose through the ranks to become the company's CFO, then Director, responsible for the company's operational and financial success.

ith the world eyeing for a greener and sustainable future, electric vehicles (EVs) have been playing a phenomenal role in the transport sector to reduce the carbon footprint. The government has been implementing multiple policies to facilitate a robust EV ecosystem, starting with the launch of the National Electric Mobility Mission Plan in 2013. Later in 2019, government came up with a new initiative – Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II). The strategy was aimed at promoting electric mobility. It also encouraged faster adoption of electric vehicles by offering incentives on purchase. Another key focus was on creating a wide charging infrastructure and plans were drafted over installation of charging stations in close proximity. Electric vehicles are vividly defined as vehicles which are powered exclusively by an electric motor whose traction energy is supplied through battery installed in the vehicle and has such electric regenerative braking system, which during braking provides for the conversion of vehicle kinetic energy into electrical energy. To enable and facilitate the growth of EVs in the transportation sector, a major effort has been put towards charging them through greener sources and India has been working on creating a robust infrastructure for that. Currently, the electricity regulations dictate that a minimum of 1 MW load at the place of consumption is required to make it eligible for an Open Access power. However, the government is working on strategies to lower the threshold by sourcing power from greener resources like solar and wind; thereby encouraging power supply through Open Access. The automobile industry is also bringing in more and more advanced and state-of-art technologies to make the electric vehicles more efficient and cost-effective. The government has also been in line with encouraging the application of newer technologies and innovations in the field. The focus has been to extend incentives to vehicles with technologically advanced batteries. Though technological innovations are extending the reach of the electric vehicles in the Indian

CXO OUTLOOK May 2022

Financing in the EV sector has been on the top priority with the NITI Aayog also highlighting the importance of priority-sector recognition for retail lending in the electric mobility ecosystem

CXO OUTLOOK May 2022

market is key for a sustainable and greener future, the cost of it also plays a significant role. India is focusing on adopting comprehensive approach to facilitate research and development and production of electric vehicles through strategic collaborations and partnerships with domestic and foreign players. With the government’s ambitious plans, Indian automobile industry has been gradually shifting from Make in India to Make for the World. India set a target, through its National Plan, to sell 6 to 7 million hybrid and electric vehicles by 2020 and by 2021, India had registered around 870,000 EVs. Exemption of Goods and Services Tax (GST), currently charged at 5 per cent on vehicles and charging services has been a major boost towards the electric automobile sector. Furthermore, under the new GST regime the tax rates have been kept much lower for EVs than the conventional vehicles. Though there are arguments that to achieve a greener and sustainable ecosystem in the country the electric vehicles should be exempted from GST entirely. Financing in the EV sector has been on the top priority with the NITI Aayog also highlighting the importance of priority-sector recognition for retail lending in the electric mobility ecosystem. Experts have often suggested that the EVs should be included in the Reserve Bank of India’s priority-sector lending (PSL). The potential EV financing market size for banks and non-financing companies in the country is 40,000 crore ($5 billion) by 2025 and `3.7 lakh crore ($50 billion) by 2030. To popularize the electric vehicles for a sustainable future, multiple banks and private financial institutions have chalked out special schemes and loan services that encourage customers to purchase electric automobiles. With the new boost towards EVs, especially amidst the rising fuel prices, many customers are now switching from their conventional petrol or diesel cars to electric vehicles. Also, the e-mobility sector has been phenomenal in bringing a drastic change in the country’s workforce system. With the government aiming at making hybrid and electric vehicle 30 per cent of the vehicles on road by 2030, production capabilities are now expanding, opening doors for more job opportunities. The Ministry of Skill Development and Entrepreneurship has earlier stated that the EV sector is expected to create more than one crore job opportunities by 2030. It shall also be noted that with every direct job in the EV industry, 4-5 indirect job options will also open up.

CXO OUTLOOK May 2022