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Global Fashion Group achieves carbon neutrality with The Iconic s help
By Imogen Bailey | 4 June 2021
The Iconic s parent company Global Fashion Group (GFG) has announced carbon neutrality across its operations and outbound deliveries in the markets it operates.
This includes the use of 100% green energy in all nine of its fulfillment centres in Australia and New Zealand (ANZ), Latin America (LATAM), the Commonwealth of Independent States (CIS) and Southeast Asia (SEA).
In line with its sustainability strategy, GFG offset the emissions generated from its operations and outbound deliveries by purchasing carbon credits from certified renewable energy projects located in China, India and Brazil where GFG’s operations and own-brand suppliers are based.
Read more about IEX in demand after good biz update for May on Business Standard. Indian Energy Exchange (IEX) jumped 3.01% to Rs 365.60 after the exchange said it traded 6,540 MU of electricity volume in May 2021 achieving 9% year on year growth amidst continuation of the COVID-19 lockdowns as well the cyclonic disturbances.
Google and Microsoft among businesses backing 24/7 clean energy tracking
More than 100 global companies, including PwC, Microsoft and Google, are taking part in a new worldwide initiative aimed at verifying clean energy sourcing on an hourly basis.
EnergyTag states that there is currently no recognised system to verify hourly clean energy consumption
Firms such as Vattenfall and Engie are working on the new initiative, spearheaded by the independent non-profit EnergyTag. The companies are aiming to demonstrate the viability of verifying clean electricity supply on an hourly basis in order to provide accurate 24/7 data.
Currently most energy attribute certificates – known as Guarantees of Origin (GOs) in Europe, Renewable Energy Certificates (RECs) in the US and Renewable Energy Guarantees of Origin (REGOs) in the UK – are issued for each unit (MWh) of clean energy production.
On a consolidated basis, Indian Energy Exchange (IEX) reported 35.1% jump in net profit to Rs 61.5 crore on 26% rise in total revenue to Rs 100.3 crore in Q4 FY21 over Q4 FY20.
On the segmental front, Power exchange business recorded 28.3% year-on-year rise in revenue to Rs 101.81 crore during the quarter. The Gas exchange business recorded a revenue loss of Rs 0.74 crore in the fourth quarter compared with revenues of Rs 0.21 crore in the same period last year.
EBITDA increased 34.2% to Rs 83.9 crore in Q4 FY21 compared with Rs 62.6 crore in Q4 FY20.
Electricity Volume increased by 62.1% to 22428.4 million units (MU) in the fourth quarter as against 13,835.1 MU recorded in the same period last year.