Climate and Business

It is estimated that over a quarter of India’s emissions are directly caused by the commercial and industrial sectors , thereby making them crucial stakeholders in any effort to achieve our NDC commitment of reducing the country’s energy intensity by 33-35% by 2030. In fact, voluntary initiatives by merely 50 Indian companies are slated to curb national emissions by 1.5% by 2030 . Beyond combatting climate change, corporate climate action also acts as a financial risk mitigating activity that prepares institutions for the coming energy transition to ensure their sustainable prosperity.

Acknowledging the opportunity, Indian corporates are slowly adopting international standards and practices (such as TCFD, SBTi, CDP reporting etc.) that support climate change mitigation action while also building institutional resilience to some of its inevitable effects. However, there is still room for concerted effort in moving the needle towards widespread emissions reduction from the commercial and industrial sectors.

Shakti Sustainable Energy Foundation has initiated the ‘Climate & Business’ sub-programme within the Clean Energy Finance vertical to aid corporates reduce emissions through ambitious target setting, improved transparency and disclosures, and the eventual ‘greening’ of their supply chains.