Eversource Capital, a climate impact investor, has announced its fourth annual sustainability report, titled “Innovation. Inclusion. Impact.” The report highlights as of March 2024, including a reduction of 8.75 million tonnes of CO2e emissions, the generation of 106 million hours of renewable energy, and the facilitation of electric vehicle mobility, positively impacting 106 million lives.

The company received catalytic concessional capital from the US Department of State and USAID through the Blended Finance for Energy Transition (BFET) program, and from the Investment Fund for Developing Countries (IFU) under the Danish Development Finance Institution (DFI). Announced at COP28 by John Kerry, US Special Presidential Envoy for Climate, it provides an impetus to mobilize private capital at scale and deploy it in climate businesses across developing Asian economies.

Dhanpal Jhaveri, Co-Founder & CEO, of Eversource Capital, stated, “As we confront the urgent challenges posed by climate change, the need for innovative solutions has never been more critical. At Eversource Capital, we have built a robust climate investing ecosystem that not only addresses these challenges but also drives sustainable impact and inclusion. Our latest sustainability report highlights our progress and the tangible outcomes of our investments. We have successfully catalysed USD 2.5 billion in global capital towards India’s climate initiatives, targeting to avoid over 30 million tonnes of GHG emissions by 2030. This is a testament to our commitment to creating a sustainable and resilient future for all.”

Radiance and Ayana, with a combined installed capacity of 2079 MWp, have generated 8.67 MWh of renewable energy and avoided 7.97 million tons of CO2e emissions as of March 2024. By processing and treating 5.15 million tonnes of solid waste and recycling or reusing 4 million tonnes of solid waste, EverEnviro and Kathari have added further impetus to the expansion of a circular economy. Furthering India’s sustainability drive, Kathari’s sewage treatment plants have processed over 65 billion litres of wastewater annually, improving sanitation for 1.3 million people along the Hooghly River in Kolkata while EverEnviro has set up India’s largest MSW-based CBG plant in Indore with a design capacity of 17 TPD.

GreenCell and Lithium advanced electric vehicle adoption, operating 1,127 e-buses and 2,266 EVs, avoiding ~90k tCO2e emissions and benefiting 81 million passengers, as the country and the world move towards the adoption of electric vehicles (EVs) to cut carbon emissions.