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Mainstreaming Sustainability in Business Planning and Practices |
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Editorial
Dear Industry Colleague,
The scale of transformation that the energy transitions
entail for the countries in Global South are very ambitious and would entail a
path that has never been followed by other countries. This was the key message
that stood out from an array of convenings hosted by TERI at COP28. Indian business leaders from amongst the Council’s
network, along with our global partners, were at COP28 to amplify the
need for a predictable policy discourse and highlight key solutions and
practices that will accelerate decarbonization of Indian industries. The COP28
Presidency delivered a final cover decision that includes language on the need
to transition away from fossil fuels for the first time in a UN text.
The first Global Stocktake (GST) unveiled by the COP28
Presidency provided a comprehensive assessment of progress since the adoption of the
Paris Agreement. This will help align the efforts on climate action, including
measures that need to be put in place to bridge the gaps. The Action Agenda
of COP28, the non-negotiated track, witnessed record number of participation of
industries from across the globe. The major ones included the Oil & Gas
Decarbonization Charter, the Industrial
Transition Accelerator, the Action Agenda on
Regenerative Landscapes, and the UAE pledge of $30 billion to a new
private investment vehicle Alterra.
Jointly developed with Shell, our report titled “India Transforming To A Net-Zero
Emissions Energy System - A call to action to 2030” shall provide
you with key messages of how clean energy will look like in the decades to
come. Technical proposals on why storage of electricity is
necessary for meeting demand round the clock and the details of range of possible mitigation
strategies for Net Zero steel sector are available, alongside the actions
undertaken by the signatory companies of the Industry Charter for Near-Zero
Emissions Ambition by 2050, instituted by TERI.
Our Council for Business Sustainability serves as the
interface for our research work to be connected to the corporate world and
enables two-way engagement. TERI CBS engages with the core issue of what
businesses must do to shape and lead in sustainability. Your suggestions and
feedback remain a constant source of inspiration for us.
We hope that the newsletter provides a good and
insightful reading for you.
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Mr. Arupendra Nath Mullick, Vice President - TERI CBS
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Dalmia Cement (Bharat) Limited follows the philosophy “clean and green is profitable and sustainable”. In
alignment with this philosophy, Dalmia Cement has committed to becoming carbon
negative by 2040. Some key measures implemented by the organisation as part of
its commitment include increasing renewable energy, improving utilisation of
alternate raw materials and accelerating fuel switching.
Against this backdrop,
Dalmia Cement and the TERI Council for Business Sustainability (TERI CBS) have
come together to leverage capabilities on energy transition, promote sustainability agenda, and contribute
to India’s net zero commitment. |
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At COP28, Much Talk but Incremental Gains
COP28 will be remembered for the agility of the UAE Presidency to operationalize the Loss and Damage fund, opines Mr. R R Rashmi, Distinguished Fellow, TERI in his opinion piece on the outcomes of COP28.
The COP at Sharm-el-Sheikh, last year, had set up the L&D fund after much protracted negotiations with the funding issue, however, continuing to remain unresolved. Thus, the speed of the UAE Presidency in making an agreement to channel finances to the fund is commendable. Yet, with contributions of over $745 million, the L&D Fund, fails to mention the quantum, scale and the source of funding required. Other agenda items relating to the development of a global framework on adaptation and the global stocktake (GST), too, remained unaddressed at COP28.
More than 120 countries
committed to the global goal of tripling renewable energy capacity and doubling
the global average annual rate of energy efficiency to more than 4% by 2030. The
key to resolving issues around mitigation and adaptation, however, continues to
be dependent on arranging the requisite finance.
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India's Race to a Green Hydrogen Future
Implementing the Green Hydrogen Policy of the Ministry
of New and Renewable Energy (MNRE), requires a whole-of-government approach,
shares Mr. Ajay Shankar, Distinguished Fellow, TERI, on India’s plan to
transition to a green hydrogen economy.
Financial incentives have been announced for the production of green hydrogen and manufacturing of electrolysers at the Central level, with ministries such as Steel, Road Transport, Posts, Shipping and Waterways allocating funds for initiating projects and undertaking R&D in the sector. At the state level, policies are incentivising the production of green hydrogen. It is, however, important to reduce costs across the full supply chain of green hydrogen. Equally important is the need to generate the demand for green hydrogen.
States like Maharashtra are providing subsidy for blending of green hydrogen into gas and hydrogen fuel cell passenger vehicles. With green hydrogen envisaged to produce green ammonia that can be utilised across shipping, electricity and fertiliser sector, successful implementation of a green hydrogen economy can help the country become a carbon net-zero economy. | |
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Heat on UAE to Give COP28 Ambitious Edge We Need
As the host of COP28, UAE has to deal with key issues
that plague international climate change negotiations: i) build consensus on
Global Goal on Adaptation; ii) operationalize the Loss and Damage fund; iii) forge
agreement on the Global Stocktake (GST); iv) advance Climate Finance
commitments beyond 2025. Further, the UAE Presidency has to ensure that talks
progress beyond the existing $100 billion pledge.
The first synthesis report
of the GST technical dialogue highlights that current global emissions do not
meet the mitigation pathways needed to achieve the temperature goal of 20
celsius of the Paris Agreement. Given this context, the UAE presidency will
need to assure the world of its willingness to put its weight behind policies that
advance climate finance and technologies that advance clean energy.
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Past Events: TERI @ COP28 |
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Convening of Business Leaders on Transformative Actions on Climate Leadership, 03 December
TERI and BCG India convened a roundtable discussion on
transformative leadership for climate actions. Panel members, comprising of
global thought and business leaders, stressed the importance of international
cooperation, and shared that evaluation of investment portfolios by capital
markets and private equity players based on ESG parameters reflected the value
of collective action.
For developing countries to
meet their growing energy demands, it is imperative to utilize renewable energy
while simultaneously investing in skilling and R&D to ensure just and
inclusive energy transitions. |
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Panel Discussion with IPCC Chair and Indian Industry Leaders, 04 December
TERI organized a panel discussion with Professor Jim
Skea, chair of the Intergovernmental Panel on Climate Change (IPCC) and leading
Indian business leaders. Professor Skea shared insights from IPCC’s Sixth Assessment
Report and its implications for India, with discussions revolving around India
leveraging innovative technologies to achieve long-term climate commitments.
The event saw the launch of
‘Practices and Solutions: Accelerating Indian Industry Decarbonisation’, a
compilation of case studies of signatory companies to the Industry Charter for
Near Zero Emissions, highlighting successful integration and pilots of green
technologies by leading Indian businesses.
Read more here
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UNFCCC Side-Event on
Solutions for Market Transformation of Sustainable Cooling, 04 December
TERI in
association with the Natural Resources Defense Council (NRDC) and NEDO (New
Energy and Industrial Technology Development Organisation) organised a session
to discuss solutions that help address the complexities of climate change
focusing on heating and cooling challenges prevalent in emerging economies.
Panellists discussed how
the future of cooling will be shaped by innovations, procurement policies and
behavioural change. Further, current cooling solutions need to become more
affordable for them to become inclusive. |
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High-Level Convening on
Market Instruments to Achieve Industry Decarbonisation at Marrakech
Partnership Pavilion, 05 December
TERI with Climate Catalyst and Mission Possible
Partnership organized a session on Green Market Instruments for Industry
Decarbonisation. Focusing on the steel industry of emerging economies, leaders shared
their perspectives on the demand and supply side instruments that can help
produce low-carbon steel.
A practical implementation of low-carbon steel market
is dependent on several actions being undertaken simultaneously such as
ensuring bankability of projects; government procurement of green steel; risk
absorption; contract standardization, and willingness to pay green premium. |
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High-Level Convening on the
Global South and its Climate Goals Achievements, 09 December
TERI jointly
with DNV organised a convening on the Global South and its Climate Goals. Panellists
suggested specific actions for the global South such as electrification of
industrial processes and strengthening supply chains across the biomass and
hydrogen sectors.
Discussions reflected on
the criticality of the SMEs in helping meet decarbonisation targets, and
reiterated the importance of platforms such as the Asia Zero Carbon Society and
Asia Europe Environment Forum in accelerating multistakeholder cooperation for
climate actions in the global South. |
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Watch TERI CBS Executive Committee members share
their insights on how TERI Council for Business Sustainability (TERI CBS) plays
an instrumental role in developing a two way communication between the
industry, government and the academia by helping shape policies and sharing
best practices on sustainability. |
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Strategies to Increase Railways Share in Freight Transportation
TERI has undertaken research to
understand the constraints faced by railways, and help improve freight
management systems for the Indian railways to help their target of increasing
their share to 45% in freight movement by 2030. Studies have been undertaken to
augment policies which help optimise terminal development and operations, improve
freight marketing and increase freight tariff. |
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Operationalisation of the Loss and Damage Fund: Challenges and Opportunities
The Loss and Damage fund ensures that developing
countries have financial assistance to resist the adverse impacts of climate
change; challenges, however, persist to make the fund effective. This issue
brief of TERI examines governance, financial and scientific considerations for
more effective functioning of the fund. It also examines how India can leverage
the fund to put pressure on developed countries to meet their financial
obligations and provide timely finance for loss and damage. |
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Low Carbon Pathways for Madhya Pradesh
Development of
low-carbon pathways at state levels are recognised as the building blocks of
contributing to national-level low carbon pathways. This study undertaken for
the Energy Department, Government of Madhya Pradesh answers key questions relating
to least-cost investment in new-generation capacity and meeting anticipated
demand with least cost dispatch of generation in the short (2025) and medium
(2030) term. |
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