The damage done to the environment is resulting in many devastating outcomes. Be it global warming, climate change, wild fires, floods, or the lack of usable water in several nations. Vidhya Bhojan, Founder - Right Dots, a CSR Consulting firm talks to TheCSRUniverse and shares her opinion on areas that need immediate action and not discussions anymore, including phasing out the usage of fossil fuels, bringing more investment towards environment sustainability, promotion of solar, wind and electric power, and enforcement of carbon accounting and strict actions around GHG reduction.
Excerpts from the interview:
TheCSRUniverse: How should we bridge the divide that exists between the developed and the developing nations on climate financing?
Vidhya Bhojan: It is imperative that we all should focus on funding greener projects and should channelize all sources in this regard, as there’s no PLANET B.
Here are my views on funding sources:
- Corporate CSR should come forward and fill this gap. While the 2020–21 CSR spend in India was around Rs 25,000+ corers, only 4% of the funds have been invested into environmental sustainability and 25%+ are for education. There should be fair share of investment on the environmental actions as it’s about survival of the earth for all living beings and then comes education and infrastructure.
- Regulations like taxes based on carbon emissions for Industries should be made global.
- Interests from Green bonds is another source that is picking in the investment markets.
TheCSRUniverse: Though over 70% of the earth’s surface is water only, however, reports predict that a larger population will face water crisis in next 3 years. What do you think is the solution?
Vidhya Bhojan: It’s an irony that about 71 percent of the earth's surface is water-covered, and the oceans hold about 96.5 percent of earth's water, still there is a crisis. Because, it’s about drinkable and usable water that leads to crisis. As per WHO’s survey results, 2025 is not very far and this is highly alarming for the survival of the human races.
We can tackle this situation by:
- Plantation of native trees at the sources of rivers
- Revival of channels/canals of rivers and their tributaries
- Desilting of ponds to increase the storage capacity
- Enforcement of rain water harvesting in all buildings – measurement of water harvested and providing tax subsidies
- Desalination plants to remove saline from sea water and make it usable
- Reuse and recycling of grey and black water process in all organizations and subsidies/incentives for adoption will drastically reduce the water waste.
TheCSRUniverse: We are observing warmer Decembers and the global temperatures will continue to rise if action is not taken at this stage. What’s your take on this?
Vidhya Bhojan: It is definitely associated with global warming. Extreme heat-waves, drought and devastating flooding have affected millions and cost billions this year, according to the World Meteorological Organization’s provisional State of the Global Climate in 2022 report. Failure in control measures of greenhouse gas emissions, extreme flooding in Pakistan, drought in Africa, glaciers melting all are contributing to the change in winters. And the prediction is 1.15 Degrees warmer than previous years. This will invariably cause other effects to the earth. A lot more conscious efforts has to be taken by every individual across the earth to ensure this doesn’t repeat in 2023.
TheCSRUniverse: What are your views on ‘loss and damage’ that was discussed as a critical issue at the COP27?
Vidhya Bhojan: Loss and damage is the right theme to be observed as the damages that are happening are irreversible. If we don’t wake up now, we will not leave a safe planet for generations to come. Loss of lives, livelihood, flora and fauna across the globe are damages that are truly devastating and need attention right now. There is no time left for us to sit and plan, it has to be on ACTION.
TheCSRUniverse: The globe is largely dependent on fossil fuels. How will we become carbon-neutral?
Vidhya Bhojan: Globally all countries should start phasing out usage of fossil fuels to attach the global climate actions. India for sure has a long way to make the transition, while we are committing to become carbon neutral by 2070.
Actions and regulations on the below points should be taken aggressively:
- Shutting down petroleum-based vehicles and promoting electric vehicles in a phased manner
- Promotion of domestic and industrial solar and wind-based power usage
- Enforcement of carbon accounting and strict actions around GHG reduction
TheCSRUniverse: 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?
Vidhya Bhojan: Inventions are inevitable at this juncture of global issues. Introducing reduce, recycle and reuse policies in every action inside an industry is a must. Beyond this, introduction of automation and improving the operational efficiency will help in optimizing carbon footprints to usage of fuels. Intelligent automation plays a greater role in achieving circular economy process.
TheCSRUniverse: In your view, how important does corporate lobbying for climate change become in the Indian context?
Vidhya Bhojan: It is very unfortunate that lobbying is required even for a good cause, and I vouch for it as long as it is going to help us accelerate the fight against global warming.
TheCSRUniverse: How can corporations help in green transition at the workplace?
Vidhya Bhojan: Thanks to COVID 19, for big organizations and the government to realize that working from home is a possibility in few identified sectors especially the information and technology. Even in other sectors, corporate roles identified possibilities to explore hybrid work model. Corporations have consciously started monitoring the travel of its employees and promoting virtual meetings as much as possible. Transitioning to elective vehicles for employee commute is also seen at large for the collective measures.
TheCSRUniverse: What should be India’s strategy for COP28? Which areas should be the top priority and why?
Vidhya Bhojan: The top few priorities for India should be:
A. Phasing out of fossil fuels
B. Promoting electric vehicles – adoption is very slow in India till 2022
C. Promotion of solar and wind power across the country – subsidies are not given on time and hence the adoption is very slow
TheCSRUniverse: How can CSR funds be effectively used to achieve sustainability goals?
Vidhya Bhojan: Corporate CSR should come forward and fill this gap. While the 2020–21 CSR spend in India is around Rs 25,000+ corers, only 4% of the money is invested into environmental sustainability and 25%+ is for education. There should be a fair share of investment on the environmental actions as it’s about survival of the earth for all living beings and then comes education and infrastructure.
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