Indian CEOs commit on decarbonisation pathway to near-zero emissions by 2050: TERI

A coalition of six Indian industry majors — Siemens Energy India, Thermax, Dalmia Cement (Bharat) Ltd, Shell Group of Companies India, Hindalco Industries and Tata Consulting Engineers Ltd — signed up an ‘Industry Charter for Near Zero Emissions by 2050’ in a virtual event at the ongoing Climate Week NYC.

As founding Signatories of the Charter, these industries have committed to enhancing energy efficiency, renewable energy, circular economy across member companies and supply chains; support the transition of India’s COP 21 commitment of carbon intensity reduction to absolute carbon emissions reduction; undertake carbon sequestration efforts if needed; tap synergies to build market and policy perspectives on decarbonisation; set reporting indicators and voluntary targets to enable tracking of corporate goals on decarbonisation pathway, and create excitement and vigour among peers through documentation and wide outreach of best practices, technology or business models towards decarbonisation.

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“Actions taken now will determine the outcome of ‘Near Zero Emissions by 2050’. After our assessments for electricity sector transition in India, we are excited to take forward the industry transition agenda. This Charter is an important step from Indian industry to voluntarily commit themselves to decarbonisation measures and to work together in key thematic areas that can make a ‘zero carbon’ future, a reality for India,” said Ajay Mathur, Director General, TERI.

TERI will serve as the Secretariat of this industry coalition.

The Charter Signatories expressed their intent to make their companies exemplars of low or zero carbon technology solutions within their sectors, and gradually bring more heavy industry sectors into the fold of the Charter.

The presence of ‘hard to abate’ sectors of cement and aluminium in the Industry Charter is significant as these sectors would require to shift to new breakthrough process technologies that use 100 per cent renewable energy and feedstock. “We are committed to play a leadership role by our actions and engagements towards achieving our carbon negative commitment by 2040,” said Mahendra Singhi, MD & CEO, Dalmia Cement (Bharat) Limited.

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Satish Pai, MD and CEO, Hindalco Industries, said, “We believe Hindalco can play a significant role in getting India’s carbon emissions down. We are very happy and proud to be a part of this industry charter that will work towards near zero carbon emissions by 2050.”

Gerd Deusser, CEO, Siemens Energy India, Nitin Prasad, Chairman, Shell Group of Companies, India, and Amit Sharma, MD and CEO, Tata Consulting Engineers Ltd, were among those who shared their perspectives.

TERI plans to facilitate discussions among the Charter Signatories to narrow down upon key thematic areas. Initial proposals and ideas include working on integration of renewables in grid, electric mobility and green hydrogen technologies.