Now on, a number of industrial houses in the country will submit annual reports on climate-friendly actions taken by them to Environment Ministry on a regular basis.
The top honchos of many group companies of prominent corporates, including Reliance, Tatas, Mahindra, Essar, ITC and Piramal Enterprises, who participated in the second edition of ‘India CEO Forum on Climate Change’, pledged to work closely with the government and reduce their carbon footprint substantially over the next decade to help the country to meet its climate change commitments made as a party to the Paris Agreement.
At the meeting, Chaired by Minister for Environment and Forests Prakash Javadekar, they not only took a pledge to ensure a climate-friendly future, but also listed the measures that they have so far taken to decarbonise their business operations and also the plans for the future.
In its 2015 Nationally Determined Contribution, the government promised to emissions intensity of the GDP by 33-35 per cent over 2005 levels; increase its share of non-fossil fuel based energy resources in installed power capacity to 40 per cent; and create an additional carbon sink of 2.5-3 billion tonnes of carbon dioxide equivalent by increasing forest and tree cover, by 2030.
Decarbonisation drive
“The world says and preaches many things but to bring into practice is more difficult thing. I think today the United Nations’ ecosystem and the UNFCCC will take note of this initiative of India and its corporate world to adhere to and declare plans of their own carbon neutrality,” Javadekar said.
The Minister also released a Declaration of Climate Change signed by 24 key industry captains and the Environment Ministry and described this voluntary move by the Indian industry is a ‘historic step’.
The India CEO Forum on Climate Change, set up last year, was meant for a coordinated response by the domestic industry and the government.
Javadekar suggested that the businesses should inform the government about steps and initiatives being taken towards decarbonisation and bring to the government’s notice polluting activities so that it can take action. “We have to be on the same page regarding our insistence on financial and technological support from the advanced economies, so that India can also catch up and march ahead,” he said.