“India's Commitment to Carbon Neutral and Net Zero by 2070 Requires Efforts from Businesses as Well” says Mr Srivats Ram, Chairman, CII Tamil Nadu at CII Greenco Summit 2024
Chennai, 26th June 2024: “In the last few years, the phrase “Net Zero” has become centrist. India is the third largest emitter of global carbon dioxide emissions and has promised to cut down its intensity of emission by 45% by 2030, as well as achieve carbon neutral and net zero status by 2070. It seems a long way off, but I think the amount of effort that is required to get there is significant and it is called for us in some cases to transform our businesses as well,” said Mr Srivats Ram, Chairman, CII Tamil Nadu & MD, Wheels India Ltd at the 13th Edition of CII organized Greenco Summit 2024 with the theme Unlocking the Transformation to Net Zero.
“Europe is a large market for Indian companies. The carbon border adjustment mechanism or CBAM, which was declared by EU, is an important regulatory measure to curb the carbon leakage. Companies who are exporting, must commit towards this to their customers,” Mr Srivats Ram pointed out.
“Green Co Rating System facilitates industries to drive sustainable growth, focus on key environmental parameters like energy management, water management, and waste management and helps achieve net zero carbon, waste, and water positive status,” Mr Srivats Ram added.
The inaugural session saw the release of the latest version of the Coffee Table Book with best achievements of GreenCo rated companies. A guideline on Operational Net-Zero Carbon was released along with a guideline for Scope 3 emissions inventorization and its reduction. Eight companies were awarded Platinum+ and Platinum who received them over the year 2024. Further, IOCL Marketing division received the Green Crusader Award for their initiative in ensuring all IOCL marketing locations are GreenCo rated and deploy the best systems in environment management. Lastly, companies were facilitated with GreenCo Champion Awards who had shown the best performance across their GreenCo journey to achieve or sustain best performance in environment parameters.
Mr Pradeep Bhargava, Chairman, GreenCo Summit 2024 & Chairman, CII GreenCo Council highlighted the contribution of CII GreenCo saying, “We have this year received the highest ever participation with over 700 people and witnessed remarkable achievements by companies with Green Co movement proving to be a significant enabler for net zero. Listing out the achievements of Green Co Companies, we can proudly state, 500 Green Co companies have made significant environmental impacts, Invested Over Rs. 4600 crores with an annual benefit of Rs 4800 crores resulting in financial and environmental success,”.
“These achievements have been made possible with a three-pronged approach, namely comprehensive, inclusive, and collaborative approach to environmental sustainability, GreenCo has been able to achieve tremendous success in conserving resources in energy, water, and material resources. The pathway to a net zero economy can be achieved by addressing environmental issues and improving efficiencies across value partners to really bring about a change in the supply chain,” he added.
Prof. GD Yadav, Padmashri and Emeritus Professor of Eminence & Former VC, ICT, Mumbai appreciated the efforts taken by GreenCo to make the industry greener saying companies earlier would identify sustainability with Three R’s. As more companies embracing sustainability as a way of work, it has evolved to Five R’s, - Reduce, Recycle, Reuse, Refuse and Refurbish,”.
Mr PS Narayan, Chairman, CII GreenCo Bangalore Forum & Global Head – Sustainability, Managing Trustee, Wipro Foundation in his concluding remarks appreciated the uniqueness of the GreenCo rating process pointing out the interactive process and physical assessments of GreenCo to help companies develop a road map to become green and achieve their net zero goals.
26th June 2024
Chennai
