To be environmentally-sustainable, many nations have pledged to decrease their carbon footprints and India is no exception, as it’s also committed to be a carbon neutral economy by 2070. The global focus is to limit the temperatures to 1.5 degrees Celsius. Though we couldn’t see much action in this regard by the global community at COP27, a stronger resolve in terms of concrete action to mitigate the effects of climate change is much needed now. We don’t have the luxury to wait and be lax not to take immediate action. “At COP28 next, India should share its proven experience in the energy and sustainability sectors to secure the international consensus and announce a strategic initiative to achieve Net Zero by 2070,” says Dr KK Upadhyay, Professor and Chairperson - Centre for Sustainability & CSR, BIMTECH and a seasoned sustainability professional. He also shares his views on reducing carbon footprints, circular economy, contribution of corporates towards sustainability and the way forward with TheCSRUniverse.
Excerpts from the interview:
Q: At COP27, India has submitted its strategy to achieve a net-zero target by 2070. What initiatives is your firm taking with respect to reducing carbon emissions and to move in sync with the UN’s agenda of limiting the global temperature rise to 1.5 degrees Celsius?
A: For this big step of achieving net zero targets by 2070; the policies developed at national level need planning and large investments to achieve sustainable growth. This may not be possible with government initiatives alone, it needs effective collaboration among the government, private sector and civil society. We are working in this space to create awareness, train and motivate the present and next generation to address this most important issue through teaching, rural immersion and action on ground.
Q: There’s a need for circular economy processes and inventions especially in the manufacturing sector. How can businesses opt for reusable, recyclable materials and methods?
A: Selection is a crucial part of implementing the circular economy in any business. Regardless of the industry type and the products or materials produced, a company should be able to select and optimize its main products and materials by efficiently reusing, recycling, and transporting them. Implementing the circular economy in businesses puts a special emphasis on the way both products and materials are used in a particular industry. As the entire concept of using products and materials is circular, the traditionally rooted linear economy concept is extracted in efforts to ultimately minimize waste, reduce CO2 emissions and maintain economic sustainability.
Q: Many times, big businesses also provide their viewpoint towards policy formulation. Hence, how important does corporate lobbying for climate change become in the Indian context?
A: The climate crisis is real and there’s no time to wait. In addition to the voluntary corporate action to tackle the challenge, they must unleash the most powerful tool they have to fight climate change: their political influence. They have to do this as they are observing very real and massively expensive disruptions to operations, supply chains, and communities due to climate change. All stakeholders - customers, employees, and communities — are demanding more action. They are engaging customers and employees to change their behaviors and encourage them to use their political voices as well through different network platforms.
Q: Apart from collective measures taken by the government, how can corporations help in green transition at the workplace in order to reduce carbon footprints?
A: We started with spreading the word. We are encouraging our students, faculty, staff and families to reduce their carbon foot print. Then greening the campus, using solar panels to generate most of our electric requirement, using LED lights, zero food wastage, etc.
Q: How can CSR funds be effectively used to achieve sustainability goals?
A: Spending minimum 2% net profit in CSR is mandatory. As per a recent CSRBOX report, 37.87% spent more than their prescribed CSR budget. The trend since April 1, 2014 shows most of the projects are aligned with national priorities: skill development, agriculture, education, sports, and they contribute towards SDGs. Improved governance of CSR projects, consolidation for bigger impact and collaboration with social sector is very evident. CSR is helping in achieving SDGs.
Q: What role can corporations and other stakeholders play in addressing climate change and what should be the Indian government’s action plan to do its bit?
A: The business world has recently started acting on climate change in earnest. Hundreds of the world’s largest companies have agreed to use 100% renewable energy and set targets that commit them to reduce emissions at the pace that science demands. Companies are buying many gigawatts of renewable energy, slashing their own energy use, and innovating to create products that help customers reduce their emissions. Government needs to incentivize it, a package of policies.
Q: What is your message to the Indian government towards representation of India’s interest in COP28?
A: At COP 28, to be held at Expo City Dubai, India should share its proven experience in the energy and sustainability sectors to secure the international consensus. Announce a strategic initiative to achieve Net Zero by 2070. And continue what Prime Minister Shri Narendra Modi said at COP26 Summit in Glasgow, “I came as a representative of a culture that gave the message of 'Sarve Bhavantu Sukhinah' means that everyone should be happy”.
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