After being introduced to the concept of COVID-19, the world has become extremely careful about the harmful effects of human negligence and started to shift toward green technologies that reduce carbon emissions. Only recently, Hindalco has partnered with Manush Labs, an MIT spin-off, to collaboratively conduct a 'Clean Technology Start-up Challenge' to arrive at their sustainability goals.
Almost 70% of global emissions come from fully integrated corporations and industries. Many big enterprises have grown to become more careful about the carbon footprint left behind while production and the effects of their operations on the environment, other than solely thinking about financial earnings. Since the directives of E-S-G (Environmental-Social-Governance) have been widely accepted, many organisations, industries, and even governments have transformed their businesses into sustainable ones rather than depending on the old profitable yet selfish modules.
Hindalco Ind. Ltd, a leading producer of aluminium and copper, also the parent organisation of Novelis has joined hands with Manush Labs, a Massachusetts Institute of Technology (MIT) spin-off, to leave a global mark by co-hosting the 'Clean Technology Start-up Challenge' for reaching the desired carbon neutrality goals. Through this drive, the company will be focused on recycling 5,000 tonnes of plastic and reusing almost 700,000 tonnes of industrial waste each year.
In aluminium's case the biggest problem is the generation of Redmud, which is a hazardous waste coming out of alumina smelters all around the world. Companies are brainstorming ideas to make good use of this product after proper transformation. Some cement brands have come up with plans to convert this harmful waste into something of material value.
Aluminium has 100% recyclability and can be infinitely run through the transformation process to yield a new batch of raw material. From the total quantity of aluminium ever produced, almost 75% is still in the loop, being used. Similarly, in the case of copper, 65% still exists in the end-user sector or recycling units creating a circular economy.
Manush Labs has excelled in the art of conducting extensive R&D to identify the pain points and scopes around the sustainability sector in accordance with their corporate allies. The lab then finds out reliable, clean tech start-ups from around the world before getting technical advice from the subject experts at MIT and other such esteemed institutes.
The Managing Director, Hindalco Ind. Ltd., Director, Board of Aditya Birla Management Corporation Pvt. Ltd, Satish Pai exemplified: "Our strategy is to create value sustainably and operate responsibly by aligning our multi-dimensional approach with the elements of people, planet, and prosperity. Our partnership with Manush Labs is a collaborative solution to reduce the environmental load and move closer to our 'Net Zero Carbon' goal of 2050."
Soon after the Industrial Revolution and the advent of huge power-consuming industries, the world was pushed toward the verge of being infested by bad weather and sudden climate change. Scientists claim that if the situation is not controlled, it might abruptly end our lives on earth, as the world's temperature is continuously rising.
To combat the harrowing effects of climate change and global warming, many companies are deliberately taking up the initiative to curb carbon emissions into the air. The UNEP Emissions Gap Report 2021 states that total global emissions will need to be redacted by almost 45% by 2030 to reach net zero by 2050 while keeping global warming in check, not more than 1.5°C.
Large industries have the capacity and financial stability to act as key performers in decreasing global carbon emissions and can invest in green, cleaner technologies. They have the ability to heighten production in their renewable energy projects, along with propagating sustainable materials and a circular economy. All these renowned industries have integrated resources and the capacity to gather a large knowledgeable team to father this environment-friendly business activity.
The founder and CEO of Manush Labs, Piyush Verma, commented: "Our partnership with Hindalco Ind. Ltd. fulfils our larger goal to bring the much-needed momentum to the decarbonisation and circular economy space globally. Organisations have become conscious of their carbon footprint and the impact of their business on society and the environment. Through Manush Labs, we are plugging-in state-of-the-art technologies into large companies. Our strength lies in our technical expertise, a global network of deep-tech entrepreneurs, and experience of working with sustainability leaders."
A Tata Fellow, Piyush Verma has graduated from the Massachusetts Institute of Technology (MIT), USA. He idealises incorporating other companies into his mission for achieving innovation in solving any given global, social or environmental issue. He was very prompt in picking up the real problem behind reaching transformation goals, many big industries have the resources to adopt sustainable practices, but they don't have the required expertise or knowledge.
"We have received an overwhelming response to the Clean Technology Start-Up Challenge 2022, and start-ups from over 20 countries have registered to be an integral part of this innovation ecosystem. We will declare the selected list of finalists on August 8," Piyush concludes his argument.
With its inception in 2021, Manush Labs is a global motivator in bringing companies together with the same goal of sustainability. The department aids start-ups and optimises them to utilise sustainable business modules by providing capital, revenue opportunities, and mentorship. Manush Labs also connects a small business with a closely-knit network of large corporations. To this day, the lab has supported 25 entrepreneurs and has raised a combined US$7.5 million for future endeavours.
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