Indian cement majors — ACC Ltd, Shree Cement Ltd and Ultratech — have signed a co-operation pact to support low-carbon investments in India. The pact was signed in Geneva with member companies of the World Business Council (WBC) for Sustainable Development’s Cement Sustainability Initiative and International Finance Corporation (IFC).
Under the pact, a Low Carbon Technology Roadmap for the Indian cement industry is to be launched this year-end. “This will be the first roadmap to focus on one specific industrial sector in a single country,” a WBC release said.
The roadmap will outline a possible transition path for the cement industry to reduce its direct emissions by 18 per cent by 2050.
Ramesh Ramanathan, Manager, (Manufacturing, Agri Business and Services), IFC South Asia said: “While public policy responses are critical in addressing climate change, the private sector also plays a leading role in providing innovative business solutions…. We view the roadmap project as a unique initiative to share best practices in sustainability.”