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Mainstreaming Sustainability in Business Planning and Practices |
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Editorial
Dear Industry Colleague,
Follow-up to the notification of the Carbon Credit Trading Scheme, 2023 in the month of
June by the Government of India, under provisions of Section 14 of the Energy
Conservation Act, 2001 the announcement of the National Steering Committee for
Indian Carbon Market has been made. We are proud to share with you that Mr. R R
Rashmi – our Distinguished Fellow, shall chair this Committee. With the
pre-COP28 negotiations currently underway, this Committee shall play an
instrumental role in shaping India’s interests at the United Nations Annual Conference on Climate Change (COP28) in Dubai in the month of December 2023.
The latest science from the IPCC Sixth Assessment Report highlights that
we are way off track from pathways consistent with keeping 1.5°C and the Paris
Goals within reach. These findings resonate with the first synthesis
report of the technical dialogue on
the Global Stocktake of climate actions, that was released in September 2023 by
the UN Framework Convention on Climate Change secretariat. The report says the
pace of global emissions does not meet desired global mitigation pathways laid
out in the Paris Agreement to achieve the temperature goal of 2 degrees Celsius
below the pre-industrial level. To stay below that maximum temperature, every country needs to
do a lot more and effectively transform all sectors of the world economy.
Indian business leaders from amongst the Council’s network,
along with our global partners, look forward to a series of active engagements
towards preparations of COP28. We are sure that these deliberations shall
provide stronger and deeper foundation for the climate negotiator and
scientific communities.
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.
-
Mr. Arupendra Nath Mullick, Vice President - TERI CBS
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As one of the fastest growing technology-led
Engineering, Procurement and Construction (EPC) companies in India, providing
sustainable solutions across urban and industrial infrastructure projects, Tata
Projects has joined hands with the TERI Council for Business Sustainability
(TERI CBS).
The organisations have come together to leverage their capabilities
across the urban built environment and
energy sector domain, promote sustainability agenda among corporates, and in the
process, contribute to the country’s net zero commitment.
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"One of the biggest challenges for the decarbonization of air travel is the availability of sustainable aviation fuel. We need to increase collaborations and build the technologies and enhancements into the existing structures and supply chains. We need to build ecosystems where from the time it is developed, even at the inception stage, we start looking at constructability. All of this needs digitalization"
- Mr. Sourabh Mukherjee, Executive Vice President at Tata Projects, India (at the EU-India Collaboration on Sustainable Biofuels for Aviation and Maritime Transport Roadmap Workshop hosted by TERI in collaboration with the European Union)
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Climate Lessons from G20 for Dubai COP28
The G20
New Delhi Leaders’ Declaration agreed to pursue a global goal of tripling
renewable energy capacity, and doubling energy efficiency efforts to enable
faster energy transition. In this opinion piece, Mr. R R Rashmi, Distinguished
Fellow, TERI, points that as an increase in RE capacity is akin to the
withdrawal of oil and coal, the incorporation of RE targets at the climate
conference in Dubai would be of significant gain to the global climate process.
Given that the G20
Declaration made no reference to the phase-down of fossil fuels, and with
carbon removal technologies remaining unviable, emphasis on renewable energy
targets and the support for enhanced financing from Multilateral Development
Banks (MDBs) can ensure that COP28 in Dubai does not lose essence of the
important issue of promoting sustainable transitions.
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The Global Sustainable Development Report (GSDR) 2023: Times of Crisis, Times of Change Science for Accelerating Transformation to Sustainable Development
The
Global Sustainable Development Report 2023 released at the SDG Summit held in
New York in September 2023 points that halfway through the 2030 timeline, SDGs
have backslided due to a spate of shocks ranging from the COVID-19 pandemic to
geopolitical volatility, debt crisis and increased frequency of disasters.
The report suggests steering
transformations across six entry points of human well-being and capabilities,
sustainable economies, food systems and nutrition, decarbonisation and
universal access to energy, urban and peri-urban development and global
environmental commons. The report calls upon all stakeholders to establish an
SDG transformation framework grounded in science and science-based tools, local
and industry-specific plans, enhanced accountability measures, and improved
engagements with international financial institutions to increase the fiscal
space for financing SDGs. | |
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Tweak Policy for Greener Energy
India’s
transition away from a fossil-fuel based economy to one which is clean and
green requires crafting right policy instruments to ensure a successful energy
transition. In this opinion piece, Mr. Ajay Shankar, Distinguished Fellow at TERI,
cites the example of how the wind energy sector became a globally competitive
manufacturing industry in India.
Likewise, if such a success
is to be replicated across the solar industry, the opinion piece recommends that
supportive policies that promote competitive bidding and assure offtake by the
government for solar panels with value addition in India can make the solar
panels manufacturing industry competitive. Similarly, the government can
incentivize cost reduction of green hydrogen through competitive procurement
from a prospective date.
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Roundtable Discussion of Expert Group on Financing MSMEs for Long-Term Low Carbon Development Strategy, Mumbai
TERI’s
Expert Group on Financing MSMEs for Long-Term Low Carbon Development Strategy launched in association with Bloomberg Philanthropies, recently held a roundtable discussion on 19th
October in Mumbai, in association with the World Trade Center (WTC) and All India
Association of Industries.
The roundtable discussion identified four strategies to
promote enhanced financing to the MSMEs, namely, multi-stakeholder
facilitation program, multi-level risk guarantee mechanism, supply chain linked
decarbonisation and multi-sector cluster based approach. |
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Shell India's 'ChangeMakers of Tomorrow' Summit, Bengaluru
Shell India's three-day summit 'ChangeMakers of Tomorrow' held on 11th October in Bengaluru, saw experts, entrepreneurs and industry leaders discuss the progress of, and challenges associated with ensuring an energy secure low-carbon future.
Dr. Vibha Dhawan, Director General, TERI shared her views on the important role played by India in accelerating energy transition, the progress achieved by the country in renewable energy expansion and the critical role of the industry in developing innovative solutions for enhanced uptake of renewable energy.
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TERI at Japan's Green Transformation (GX) Strategy Roundtable, Tokyo
A roundtable discussion on Green Transformation (GX) Strategy was held on 3rd October
at the Office of the Hon'ble Prime Minister of Japan, Mr. Fumio Kishida.
At the roundtable, Prime Minister Kishida announced
the full-scale market introduction of green steel and perovskite solar cells in
2025. Discussions at the roundtable, attended by Dr. Vibha Dhawan, Director General, TERI, revolved around Japan’s efforts in renewable and nuclear energy, implementation of “pro-growth, carbon pricing”, and issuance of the world’s first transition bonds for industrial decarbonisation. |
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ET Energyworld India Net
Zero Forum 2023, Delhi
The ET Energyworld India Net Zero Forum held on 29th
September in New Delhi saw eminent speakers gather to discuss issues across topics ranging from India's Green Credit program to the evolving landscape of ESG, and the decarbonization prerequisites in the metals and mining, and the transport sector.
Speaking at the summit, Dr. Vibha Dhawan, Director General, TERI highlighted that energy transition stood on three key pillars of R&D investments, co-development of technologies and skilling human resources. |
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In the run-up to COP28, TERI presents views of
the Indian business leaders present at COP27 held in Sharm-el-Sheikh (Egypt). Discussions on transitions in the
hard-to-abate sectors have increasingly become important with the need felt to
engage supply and demand side actors and focus on enhanced financing. |
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Low Carbon Pathways for Madhya Pradesh
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Achieving Green Steel: A Roadmap towards a Sustainable Steel Sector in India A Technical Annex
TERI, under the flagship of the
Energy Transitions Commission (ETC) India, worked on analysing decarbonisation
of hard-to-abate sectors. This updated version of the technical annex on
achieving green steel provides an overview of the Indian steel sector, options
available to reduce carbon emissions, and the role of resource efficiency on
mitigating the impact of the hard-to-abate on the environment. |
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Transition Risk Management for Land-based Climate Measure
The land-use sector via
initiatives such as Nature-based Solutions (NbS) holds immense potential for
upscaling land-based climate interventions. However, implementing them requires
understanding their impact on communities dependent on land for livelihood
purposes. This policy brief recommends improving representation of local communities
in policymaking, embedding value of land across global supply chains, and
improving capacity of local agencies and communities in implementing such
measures.
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