World Environment Day 2024, June 5: As India celebrated the World Environment Day on Wednesday with this year’s theme – Land restoration, desertification and drought resilience, India Inc is all set and ready to cut its carbon footprint and plastic use and move towards achieving India’s net zero target by 2070. Companies across sectors are working to address the issue of plastic waste management, through various initiatives while incorporating sustainable practices across the entire value chain.
“According to the UN Convention to Combat Desertification, up to 40 per cent of the planet’s land is degraded, directly affecting half of the world’s population. The number and duration of droughts has increased by 29 per cent since 2000 – without urgent action, droughts may affect over three-quarters of the world’s population by 2050,” the United Nations official website wrote.
Here is what India Inc is doing and speaking about on the World Environment Day…
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Suresh Kumar, Managing Director, Allcargo Terminals Limited
Allcargo resonates with the theme of this year’s World Environment Day of land restoration, stopping desertification and building drought resilience. As part of our Maitree initiative, we had a goal of planting a million trees. Happy to share that we reached this milestone recently and have set a new goal of five million trees. We actively partner with communities in restoring lands, supporting livelihoods and contributing towards a greener future. Allcargo Group has set its sight on achieving carbon neutrality by 2040 and these efforts align with the company’s vision too.
Reducing carbon footprint is a priority for the logistics industry. We contribute to this goal by offering creative logistic solutions and promoting circular economy practices. We are committed to sustainable operations and actively collaborate with our customers and partners through various initiatives including deployment of Electric Vehicles (EVs) and using alternative fuel sources.
Vineet Agarwal, MD, Transport Corporation of India Limited
With approximately 30% of our consolidated revenues coming from multimodal logistics, we’re proud to be an ESG-compliant logistics partner for all our customers. In the last financial year, TCI generated 17 million kwh of renewable energy and completed 50,000+ B2B last-mile trips through 3,500+ CNG vehicles. Additionally, we provide green warehousing solutions integrated with eco-friendly practices to reduce power consumption, electricity costs, carbon footprint, and greenhouse gas emissions.
In its first year, TCI-IIMB Supply Chain Sustainability Lab achieved significant milestones, including the successful launch of the TEMT (Transport Emissions Measurement Tool), partnerships with various corporates & start-ups to solve for the industry; thereby reflecting our dedication to green innovation.
Smita Jatia, Vice Chairperson, Westlife Foodworld Ltd
We are committed to a lower carbon footprint, achieved through increased recycling and reuse of materials, use of renewable energy, and reduced consumption. We recognise the critical role that businesses must play in addressing climate change and we are proud to walk the talk. With each step, we are becoming stronger in our fight against climate change. We look forward to continuing our efforts towards a greener future and to serving our customers with delicious and sustainable food.
Ophira Bhatia, Senior Director, India & Lead, Asia Pacific, Middle East and Africa, Corporate & Government Affairs, Mondelez International
At Mondelez India, we are deeply rooted in our communities through our decade old national CSR program, ‘Shubh Aarambh’. We continue to understand their unique needs and empower them through tailored initiatives. One such pressing priority that emerged was the need for greening and related efforts towards land rejuvenation, water conservation etc., especially in areas where our signature Cocoa Life program is active.
As part of this, we rolled out a comprehensive Cocoa Agroforestry Program in states like Kerala, Karnataka, Tamil Nadu, and Andhra Pradesh. We equip these communities with sustainable agricultural practices such as soil conservation methods, water management techniques, and ways to boost climate resilience and increase yields through Good Agricultural Practices (GAP) and Good Environmental Practices (GEP).
To tackle the larger issue of water scarcity and overuse of groundwater, we are converting defunct wells into injection wells to effectively replenish underground water tables and rejuvenate the land.
As we celebrate World Environment Day 2024, we remain committed to creating a positive impact through our Cocoa Agroforestry Program and other initiatives under ‘Shubh Aarambh’, while continuously adapting to the evolving needs of the communities we serve.
Niranjan Banodkar, Group Chief Financial Officer & Head of Sustainable Finance, YES BANK
As signatory to United Nation’s Principles for Responsible Banking, we are committed towards aligning our business with the objectives of the Sustainable Development Goals and the Paris Climate Agreement. Our comprehensive four-pronged ESG strategy addresses climate and environmental risks in our lending portfolio, minimises the environmental and social impact of our operations, consistently measures and transparently discloses our ESG performance, and actively collaborates with stakeholders to enhance ESG integration.
We have consistently aimed at integrating ESG and climate considerations into our business. In the last year, we expanded our ISO 14001:2015 certified Environmental Management System to 1,086 facilities across India. We also reduced our carbon emissions by transitioning key facilities to renewable energy sources, in line with our target to achieve net zero emissions from our operations by 2030. YES BANK is the first Indian Bank to measure and report financed emissions of its fund-based electricity generation portfolio and develop targets to reduce its financed emission intensity in line with global decarbonization trajectories. The Bank continues to support climate-aligned sectors like renewable energy, electric vehicles and to develop targeted products for green financing such as solar rooftops.
The Bank’s robust ESG governance framework, with oversight from its Board-level, CSR and ESG Committee and its Executive-level, Sustainability Council ensures that its ethos of responsible banking, percolates throughout the organization, and enables the Bank to create long-term value for all its stakeholders.
Anupama Katkar, Chief of Operational Excellence, Quick Heal and Chairperson, Quick Heal Foundation
Our commitment to CSR and ESG initiatives goes beyond compliance; it focuses on making a positive impact on the planet and its people. Energy conservation is fundamental to our efforts. By optimizing electricity consumption and incorporating renewable energy sources, we strive to reduce our environmental footprint. We further ensure complete e-waste recycling of our products through authorized channels. In addition, we have significantly improved our product packaging. Our Antivirus packaging is 38% smaller than previous versions and made from biodegradable materials, eliminating the need for CDs and reducing e-waste & overall our carbon footprint. As a responsible leader, we are dedicated to empowering communities and developing the youth by providing cybersecurity education & training, aligning with the UN Sustainable Development Goals.
Nishith Rastogi, Founder & CEO, Locus
Climate change is profoundly impacting supply chains, from production to transportation. Extreme weather events disrupt these systems, highlighting the urgent need for resilient and sustainable solutions. Moreover, consumers wield immense influence—they favour brands committed to sustainability.
Innovations like electric vehicles, route optimization, and real-time tracking help reduce carbon emissions and enhance efficiency. By leveraging such technology, retailers can cut congestion, lower emissions, and significantly reduce empty miles and fuel consumption.
Zaiba Sarang, Co-founder, iThink Logistics
At iThink Logistics, we believe in creating a greener future by integrating eco-friendly practices into our operations. From optimizing delivery routes to reduce carbon emissions to promoting the use of electric vehicles, we are committed to minimizing our environmental footprint. Our approach involves leveraging technology for smarter logistics solutions. This helps reduce our carbon footprint and sets a precedent for the entire industry.
Aditi Balbir, Co-founder, EcoRatings
Climate disasters are upon us and yet countries, companies and people are slow to change. What is that one thing that will make a difference? GenAI technologies can analyse vast sets of unrelated data, create patterns and give us insights in real-time, to make decisions NOW! For example – what is the quality of our soil, what are the unique techniques for regeneration specific to small and large farmers? Where is the new desert likely to emerge? What land is subject to which sort of climate risk? And how can it be mitigated? GenAI gives insights into a specific location, using macro data, satellite imagery and factors unique to a particular part of the world. GenAI is how we protect our land, and create our future.
Sameer Jain, Managing Director, Primus Partners
As businesses and investors increasingly prioritise long-term growth and value creation, integrating ESG goals into business strategy becomes crucial. It is the circular economy that offers a practical pathway for implementing the ESG objectives. This global transition promises to reduce greenhouse gas emissions and stimulate economic growth. According to a recent WEF report, India’s adoption of a circular economy could potentially generate up to 50 million jobs and create an economic impact of $1 trillion by 2030. Impetus to the 3R principle, necessitates continuous product and process innovation, fundamentally transforming how we design, produce, and recycle. This shift requires significant upskilling and reskilling of the workforce. As companies adopt more sustainable practices, employees must be equipped with new skills in areas such as green technologies, sustainable design, and resource management to make the most of the economic opportunities being created by the transition to Green economy.
Naresh Mansukhani, CEO, Juniper Green Energy
For long, our planet has endured the constant exploitation of resources and natural bodies. We are now standing at a critical crossroads where our actions will determine whether we leave behind a legacy of environmental destruction or a well-balanced ecosystem.
With over 40% of the world experiencing record-high temperatures this year, addressing environmental concerns has become more pressing than ever. All the governments must come together to discuss this critical issue and move towards a sustainable future.
At Juniper Green Energy, we are committed to leading the charge in renewable energy solutions that not only reduce our carbon footprint but also support the restoration of our planet’s ecosystems. Our initiatives focus on harnessing the power of solar and wind energy to create sustainable, resilient communities.
On World Environment Day, we urge individuals and organisations to strike a balance between people, profit and the planet. By working together and maintaining this delicate balance, we can achieve a sustainable future that benefits everyone.
Pradeep Shetty, President, FHRAI
Sustainability is no longer a mere option but a necessary pathway for the hospitality sector. From energy-efficient lighting and water-saving fixtures to waste management and the sustainable sourcing of food and materials, our sector is at the forefront of integrating green practices into its operations. These initiatives not only reduce our carbon footprint but also resonate deeply with our guests, who increasingly prioritize eco-conscious choices. We actively encourage our members to adopt innovative solutions that minimize environmental impact. We support training programs on sustainable practices, advocate for policy changes that favour green technologies, and provide a platform for sharing best practices. By leveraging technology and promoting eco-friendly infrastructure, we aim to create a more resilient and sustainable hospitality industry. Together, we can build a future where the hospitality industry thrives in harmony with the environment, ensuring that the beauty and resources of our planet are preserved for generations to come.
Varun Gupta, Managing Director, Acquaviva
As a leading brand in the industry, we understand the impact our choices have on the environment and are committed to creating products that promote responsible water usage and energy efficiency. Our range of bathroom fittings is designed with the environment in mind, incorporating features such as water-saving faucets, low-flow showerheads, and energy-efficient heating systems. These innovations not only help conserve precious resources but also reduce utility costs for our customers, making sustainability both practical and economical.
We believe that every drop counts. That’s why we invest in advanced technologies and sustainable materials that minimize environmental impact without compromising on quality or performance. Our products are a testament to our belief that luxury and sustainability can coexist harmoniously.
Ankit Kedia, Founder and Lead Investor, Capital A
VCs have a major role in nurturing green startups by providing the high-risk funding necessary for innovative and disruptive climate solutions. Their risk tolerance is crucial for supporting ventures with longer development timelines or unproven business models. VCs also offer access to extensive networks of industry experts, potential customers, partners, and other investors, which can drive market adoption and partnerships. By diversifying their portfolios across various sectors like clean energy and sustainable transportation, VCs spread risk and enhance the likelihood of discovering effective climate solutions. Moreover, VC-backed startups can scale rapidly, crucial for significant climate impact, and benefit from exit opportunities such as acquisitions or IPOs, providing liquidity and growth resources. At Capital A, we exemplify this supportive role with a focus on sustainability and socially responsible investing. We prioritize startups offering impactful solutions in renewable energy, carbon reduction, and waste management. Our focus is on evaluating strong ESG practices, and ensuring companies adhere to robust sustainability, ethical operations, and diversity principles.
From: financialexpress
Financial News
