Climate change is one of the most pressing global environmental challenges, primarily driven by human activities. If timely and decisive action is not taken, its impacts will continue to shape our world for generations. The warming of the planet is undeniable, as evidenced by rising global air and ocean temperatures, widespread melting of snow and ice, and increasing sea levels. While climate change affects all nations, developing countries like India are particularly vulnerable due to their limited capacity to adapt.
Climate Change
ITA > Climate Change
Climate Change and India’s Response
A significant step in global climate action was the signing of the historic Paris Agreement, which united countries in the fight against climate change. India, as part of its Intended Nationally Determined Contributions (INDCs), has committed to reducing the emissions intensity of its GDP by 33-35% by 2030 (from 2005 levels). Additionally, the country aims to achieve 40% of its total installed power capacity from non-fossil fuel sources by 2030. Notably, between 2005 and 2010, India already achieved a 12% reduction in emissions intensity through various initiatives.
Moving forward, India’s industrial sector will play a crucial role in achieving these climate goals by improving energy efficiency, increasing the use of renewable energy, and promoting green building practices. Many companies are voluntarily adopting emissions reduction targets, sourcing renewable energy, and implementing Internal Carbon Pricing mechanisms.
Emerging Investment Opportunities in Climate Action
India’s ambitious climate targets present significant investment opportunities across key sectors:
➤ Renewable Energy – India’s plan to expand renewable energy capacity to 175 GW by 2022 is the world’s largest such initiative, offering immense investment potential.
➤ International Solar Alliance (ISA) – With 121 tropical nations as members, the ISA aims to mobilize $1 trillion (around INR 67 lakh crore) in solar investments by 2030.
➤ Green Buildings – India targets 10 billion sq. ft. of green building development by 2022, creating substantial demand for sustainable construction materials and technologies.
➤ Cleaner Conventional Energy Technologies – Future coal-based power plants will adopt supercritical technology, requiring higher investment in clean energy solutions.
ITA’s Role in Driving Climate Action
The Confederation of Indian Industry (ITA) actively supports businesses in addressing climate risks and capitalizing on sustainability opportunities. Through its Centers of Excellence, ITA provides capacity-building and advisory services to help industries transition to low-carbon growth.
➤ ITA-ITC Centre of Excellence for Sustainable Development – Offers expertise in carbon neutrality, greenhouse gas (GHG) inventories, and ISO 14064 training.
➤ ITA – Sohrabji Godrej Green Business Centre – Promotes energy efficiency across industries such as cement, pulp & paper, power, and sugar. It has also launched the India GHG Program, in collaboration with WRI and TERI, to help businesses implement GHG reduction strategies.
➤ Indian Green Building Council (IGBC) – Works closely with central and state governments to promote the green building movement. IGBC’s Green Building Rating Systems have been recognized by government agencies, such as the Ministry of Environment, Forests, and Climate Change, which offers fast-track environmental clearances to IGBC-certified projects.
➤ Greenco Rating System – Developed by ITA’s Green Business Centre, this globally unique rating system assesses the environmental impact of companies and provides a roadmap for sustainable business growth.
A Sustainable Future
India’s efforts in climate action, combined with industrial participation and global cooperation, are paving the way for a sustainable and low-carbon future. With strong policy frameworks, industry-driven initiatives, and significant investment opportunities, the country is well-positioned to make meaningful progress in combating climate change.