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Corporate News - January 2025
ESG
Amazon Remains World's Largest Corporate Buyer of Renewable Energy for the Fifth Year 
Amazon has retained its position as the world's largest corporate purchaser of renewable energy in 2024, according to Bloomberg NEF, marking its fifth consecutive year at the top. The company now supports over 600 wind and solar projects up from 500 last year expected to generate enough energy to power 8.3 million U.S. homes.
This milestone follows Amazon's recent achievement of reaching 100% renewable energy for its global operations, seven years ahead of its original 2030 target. The company continues to invest in clean energy projects in regions with high carbon reliance, including India, China, and South Africa, as part of its broader sustainability efforts.
BBC Unveils First Climate Transition Plan to Achieve Net Zero by 2050 
The BBC has unveiled its first Climate Transition Plan, outlining its roadmap to achieve Net Zero emissions by 2050. This milestone reflects the Corporation's dedication to building a sustainable organization and influencing the wider media sector. The BBC's long-term climate goals received validation from the globally respected Science- Based Targets initiative (SBTi). The plan commits the organization to reduce all emissions including direct (Scope 1 and 2) and indirect (Scope 3) by at least 90% by 2050. Key actions include switching production trucks to hydrotreated vegetable oil (HVO), installing heat pumps in offices, and ensuring independent verification of emissions data. The BBC will update its plan regularly and report progress annually, aiming to set a sustainability benchmark for the media industry.
INDIA PARTNERSHIPS
Uttarakhand-Iceland Partnership for Geothermal Energy 
In a major move towards carbon neutrality by 2070, the Uttarakhand government has partnered with Iceland, a global leader in geothermal energy, to tap into the state's geothermal potential. This collaboration, formalized through a Memorandum of Understanding (MoU) with Iceland's Verkis Consulting.
In a significant step toward achieving carbon neutrality by 2070, the Uttarakhand government has initiated a collaboration with Iceland, a global leader in geothermal energy, to harness the geothermal potential in the state. This partnership aims to explore the vast geothermal resources of Uttarakhand, paving the way for sustainable energy solutions. Through a Memorandum of Understanding (MoU) with Iceland's Verkis Consulting Engineers, the state is set to leverage geothermal energy for electricity generation, marking a crucial milestone in the development of renewable energy resources in India.
India-Mongolia Mining Pact to Boost Cooperation on Critical Minerals 
India is set to sign a Memorandum of Understanding (MoU) with Mongolia to strengthen collaboration in geology and mineral exploration, focusing on sourcing copper and coking coal to meet its growing industrial demands. Mongolia, rich in high-quality reserves of these critical minerals, offers India an alternative to diversify its imports amidst rising demand for copper in power, EVs, and construction, and coking coal for steel production. With the Indian Cabinet's approval, the agreement is expected soon, highlighting efforts to establish preferred supply routes through Russia's Vladivostok, bypassing China due to geopolitical tensions. Leading Indian companies, including JSW Steel, SAIL, Hindalco, and Vedanta, are keenly exploring opportunities to leverage Mongolia's resources, signaling a significant step in securing reliable and strategic mineral supplies.
MERGERS AND ACQUISITION
Reliance Acquires Karkinos Healthcare for 375 Crore to Expand in Oncology 
Reliance Industries, through its subsidiary Reliance Strategic Business Ventures Ltd (RSBVL), has acquired oncologyfocused Karkinos Healthcare for 375 crore in an all-cash deal. Founded in 2020, Karkinos specializes in techdriven cancer detection and management, partnering with over 60 hospitals and developing a 150-bed cancer center in Imphal. The acquisition, approved under the IBC framework, strengthens Reliance's healthcare ambitions, leveraging Karkinos' innovative infrastructure and expertise in oncology.
HUL to Acquire Premium Skincare Brand Minimalist 
Hindustan Unilever Limited (HUL) has signed a definitive agreement to acquire a 90.5% stake in Minimalist, a fast-growing, science-backed beauty brand, with an option to acquire full ownership within two years. Founded in 2020 by Mohit and Rahul Yadav, Minimalist has gained prominence for its transparency-driven, actives-led skincare and haircare solutions. The acquisition aligns with HUL's strategy to expand its Beauty & Wellbeing portfolio into highgrowth segments. The Minimalist team will continue to lead operations, working closely with HUL, with the transaction expected to close in Q1 FY 2026.
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Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
