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Mainstreaming Sustainability in Business Planning and Practices |
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September 2023 Newsletter |
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Editorial
Dear Industry Colleague,
The G20 was set up in the wake of the Asian financial
crisis on the understanding that if the members, which among them account for
over 80 per cent of the global economy, can arrive at a consensus on key
issues, the world would see purposeful action. The annual summits were meant to
facilitate discussions among heads of governments, who could consider new ideas
and possibilities. This did happen in the early years regarding measures
considered necessary to remove the weaknesses in the global financial system. Now is the time for a similar
G20 moment on climate change.
The G20’s New Delhi Leaders’ Declaration, announced on 10th
September 2023, stressed that there should be “various pathways” for our energy
transitions. In particular, such message recognizes the needs, the
vulnerabilities, the priorities as well as the different national circumstances
of the developing countries. This message of various pathways is very important
as there are some countries that wish to impose their particular pathway on
other countries, including the developing world. The issues like – Sustainable
Solutions for Climate Change and Sustainable Energy Transition; Inclusive
Global Value Chains; Employment generation, social protection and skilling –
are at the centrestage to shape future development pathways.
Jointly developed with Shell, our report titled “India Transforming To A Net-Zero
Emissions Energy System - A call to action to 2030” examined how
clean energy will look like in the decades to come. In the energy transition to
net zero, making all electricity generation carbon free would be a major
milestone. Fortunately, this is now technically feasible. It is also
affordable. Solar and wind power are now cheaper than electricity from a new
thermal power plant by a wide margin. However, solar and wind power cannot give
us electricity all the time to meet our full demand. Hence storage of electricity is
necessary for meeting demand round the clock. Deeper engagements with government
stakeholders are planned alongside the actions undertaken by the signatory
companies of the Industry Charter for Near-Zero
Emissions Ambition by 2050, instituted by TERI.
Today we are at the midpoint – 7 years since the Paris
Agreement was agreed upon in 2015; and 7 years in hand to reach the goalpost
for realizing the 2030 Agenda for Sustainable Development. We are two months
away from the UN annual convening on climate change COP28 – that urges the
world to UNITE, ACT & DELIVER. And just last week, the UN Secretary
General’s SDG Summit concluded. We look forward to your continued support and
regular participation.
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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Increasingly, technology is playing a leading role in measuring and improving energy efficiency, analysing and tracking resource management and helping minimise waste and negative impact on the environment. As a leading enterprise resource management (ERM) software provider leveraging technology to address client needs, SAP has joined hands with the TERI Council for Business Sustainability (TERI CBS). The organisations have come together to leverage their capabilities and promote sustainability agenda among the corporates, and in process contribute to India’s net zero goals. |
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"India is the world’s fourth biggest emitter
of carbon dioxide and we have to take action now to ensure the next generation
has a better future. We also understand that sustainability is a team sport,
and building a vibrant ecosystem is the best approach to accelerate our pledge
to achieve Net – Zero. SAP, together with TERI, is committed to join forces
that march towards India’s vision of becoming a carbon neutral nation by 2070"
- Kulmeet Bawa, President and Managing Director, SAP Indian Subcontinent
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G20 New Delhi Leaders' Declaration 2023
The G20
New Delhi Leaders’ Declaration reiterated and recommitted to achieving the 2030
Sustainable Development Goals and resolved to pursue actions that help in
effective implementation of the Paris Agreement, limiting the temperature rise
to 1.50C.
As part
of the green development pact for a sustainable future, the declaration
recognized the macroeconomic risks stemming from climate change, committed to
implementing circular economy and implementing clean, sustainable, just,
affordable and inclusive energy transitions. Conservation and sustainable use
of ecosystems, ending plastic pollution, reducing disaster risk and financing
urban development were also some of the other priorities reflected in the
declaration.
The declaration supported
maximizing concessional finance and called for an ambitious replenishment process
of the Green Climate Fund, welcomed the publication of the sustainability and
climate-related disclosure standards by the International Sustainability
Standards Board (ISSB) and called all relevant financial
institutions in setting ambitious, transparent and trackable New Collective
Quantified Goal (NCQG) of climate finance in 2024. | |
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G20 Technical Document on
Resource Efficiency and Circular Economy Industry Coalition
The Environment
and Climate Sustainability Working Group (ECSWG) under the Indian Presidency of
the G20 established the Resource Efficiency and Circular Economy Industry
Coalition (RECEIC). Three priority pillars identified for the coalition to work
on include: i) partnering for impact by sharing best practices, ii) enhancing
capabilities, technology interventions and collaborations by promoting the six
Rs of circularity - redesign, reduce, reuse, remanufacture, repair and recycle,
and iii) mobilizing concessional finance.
There
is focus on ensuring transformation of waste streams to input feed and enabling
cooperation across the value chain, especially by imparting trainings to the MSMEs
and the unorganized sector.
Work streams defined to
operationalize the industry coalition include defining circularity measurements
and indicators, analyzing reporting tools and promoting scientific research on cutting
edge technologies. | |
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Chennai High Level Principles for a Sustainable and
Resilient Blue/Ocean – Based Economy
In
recognition of the increasing marine pollution and growing threats to marine
ecosystems due to climate change, the G20 Environment and Climate
Sustainability (ECSWG) Ministers Outcome Document and Chair Summary released a
set of high-level principles on promoting sustainable and resilient ocean based
economy.
The
principles address concerns around marine pollution and recognize the role of
indigenous knowledge in conserving coastal ecosystems with a focus on promoting
equity and leveraging coastal communities, especially women and the youth.
Given the ocean-climate
interlinkages, the principles encourage the adoption of ‘Marine Spatial
Planning’, an approach that helps balance human activities with ocean health. The
principles also address concerns around the safe use of ocean-based carbon
dioxide removal and sequestration technologies and encourage incorporating
monitoring and evaluation mechanisms to assess, minimize and mitigate negative impacts
on coastal environment and strengthen international cooperation to tackle
shared maritime challenges.
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G20 Disaster Risk Reduction
Working Group: Outcome Document and Chair’s Summary
The
G20 Disaster Risk Reduction Working Group’s (DRRWG) Outcome Document and Chair
Summary reiterated the need to adopt an integrated approach to reduce disaster
risks by implementing the 2030 Sendai Framework in alignment with the SDGs,
Paris Agreement and the Kunming-Montreal Global Biodiversity Framework. The
document recognised climate change as a key driver of increasing disaster
risks, and expressed concern over the rising frequency and intensity of
disasters, and its adverse impact on people, livelihoods, businesses and
assets.
The document shared key
actions that could add value to disaster risk reduction such as enhancing the
coverage of Early Warning Systems (EWS) and promoting investments in digital
infrastructure, data and technology. There was emphasis on investing in disaster
and climate resilient infrastructure, incorporating DRR into infrastructure
regulatory frameworks, financing strategies, appraisal mechanisms, and
integrating nature-based solutions and ecosystem-based approaches to DRR.
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Building a
Resilient Future: Investing in Green Jobs and Reskilling for Women Workers,
Delhi
TERI
in association with the Thomson Reuters Foundation (TRF) hosted an in-person
workshop in Delhi on 3rd August.
The
workshop saw stakeholders from the private sector, media, civil society, labour
organisations and public sector representatives gather to participate in the
three theme based sessions on investing in green jobs, reskilling women workers
and financing just transition. |
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Global Cement and Concrete Association (GCCA) CEOs Meet, Mumbai
TERI in collaboration with
Global Cement and Concrete Association (GCCA) organised a CEO’s meet to present
the findings of the India-specific net zero roadmap for the cement and concrete
sector. The roadmap aims to accelerate decarbonisation efforts of the sector
and align their strategies with India’s 2070 net-zero goal. The meeting was
hosted by Mr. Parth Jindal, Managing Director of JSW Cement (Chair of GCCA
India) at the JSW Headquarters in Mumbai. |
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Workshop on Roadmap on EU – India Collaboration on Sustainable Biofuels for
Aviation and Maritime Transport, Delhi
TERI in association with the European Union (EU)
hosted a two-day workshop in Delhi from 21st – 22nd
August. The workshop discussed enhancing biofuels production and the pivotal role of private sector investors and technology providers in decarbonising aviation
and maritime transportation. The workshop also focused on enhancing financing
for increased feedstock production, development of low-cost reporting systems and the role of biofuels in promoting
circular economy. |
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DD Dialogue –
G20: For Sustainable Future, Delhi
The DD Dialogue on Sustainable Future was broadcast
by India’s public broadcaster, Doordarshan, on the eve of the G20 New Delhi
Leaders’ Summit on 4th September. Representing TERI, Dr. Vibha Dhawan,
Director General and Ambassador Manjeev Puri, Distinguished Fellow, highlighted
that the G20 served as a platform for the leading economic players of the world
to act towards ensuring sustainable development through cohesive partnerships
and policies. |
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Watch leading business leaders’ voice their
support for the ‘Industry Charter for Near Zero Emissions Ambition by 2050’
instituted by TERI. The signatories to the Industry Charter aim to transform
their businesses to low-carbon firms, reflecting their sustainability
commitments |
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Circular Bioeconomy and SDGs: Proposals for the G20
Development of a circular
bioeconomy can help complement efforts in the implementation of Sustainable
Development Goals such as those relating to clean and secure energy and
responsible consumption and production. Given this relationship, the
publication suggests creating a global circular bioeconomy partnership to
enable sharing of best practices and establishing a biocircularity metrics
initiative to help define metrics and develop an indicator framework on
biocircularity.
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Building the Climate Resilience of Sub-National Infrastructure
With climate-change
induced disasters generating varied impacts, there is a need to adopt localised
approaches, targeting sub-national actors for an improved and resilient
infrastructure. With a focus on embedding regulatory and governance
measures, the publication suggests institutionalising resilient infrastructure at sub-national levels, improving bankability of subnational infrastructure projects, focusing on data
management and leveraging multi-national banks to improve finance flows for climate-resilient infrastructure.
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Low Carbon Development Pathways for Cooling:
Leveraging Kigali Amendments Across Residential
Applications
While cooling is
essential to adapt to a warming world, their increased usage will cause
additional warming. The policy brief recommends leveraging and accelerating
implementation of the Kigali Amendment to the Montreal Protocol, strengthening
G20 collaboration on regionally-harmonised energy efficiency standards through
national cooling action plans and accelerating market transition to energy
efficient refrigerant and air cooling equipment through public procurement.
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