Prominent Indian Companies Commit to Net-Zero Emissions by 2050
Several prominent Indian companies, including Tata Steel, Larsen & Toubro, and Mahindra Group, have signed the CII Climate Action Charter. They've committed to ambitious targets like achieving net-zero carbon emissions by 2050 and reducing carbon intensity by specific percentages by 2030. This move aligns with India's sustainable mission, aiming for zero net carbon dioxide emissions by 2070 and 50% renewable electricity by 2030.
The CII Climate Action Charter encourages businesses to develop long-term climate actions. It focuses on four core principles: reducing greenhouse gas emissions, transitioning value chains, building resilience, and mobilizing green finance. Companies are also embracing sustainable farming and forestry practices to reduce carbon dioxide emissions while improving soil health and biodiversity.
A circular economy approach is being adopted to minimize waste. This involves reusing, repurposing, or recycling materials. Meanwhile, climate education is being promoted to raise awareness and encourage action. Strategies for sustainable industrial development include transitioning to renewable energy, reducing waste and carbon emissions, and implementing circular economy practices. A robust domestic carbon credit market is also being explored to incentivize carbon emission reduction and promote renewable energy innovation.
With over 75% of greenhouse gas emissions and nearly 90% of carbon emissions attributed to climate change, these initiatives are crucial. Major causes include power generation, manufacturing, deforestation, transportation, food production, and energy demand. By investing in sustainable supply chains and promoting sustainable practices among suppliers and customers, these companies are leading the way in combating climate change.
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