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heat waves, melting glaciers and polar ice     The other need of the hour is carbon
               caps, and rising sea levels all raise red      management across the value chain in
               flags about global warming. Thus, the          order to reduce greenhouse gas (GHG)
               writing on the wall is clear: climate          emissions. If corporates collaboratively
               change is now a reality that can’t afford      engage with their suppliers (who are
               to be overlooked.                              usually the SMEs and MSEs), it will help
                                                              mitigate the GHG emissions of around 80-

                                                              85 percent of India’s industry.
               A holistic approach / A shared effort

               While the focus on renewable energy is
               important, India must take a holistic          India Inc’s efforts / Corporate India
               approach towards climate change. The           and sustainability
               sectors which predominantly contribute         While more Indian companies need to
               towards carbon emissions are transport,        proactively chalk out their carbon
               agriculture, power generation and              management policies, there are those
               distribution, construction, and industry.      that have stood out for their CSR efforts.
               The key to effective carbon management         Take the ITC Group, for example, which
               in each of these sectors is cooperation        has been a carbon positive company for
               between various stakeholders, as well as       11 successive years. It has over 200,000
               a roadmap with definite targets and a          hectares of plantations which help in
               timeframe.                                     capturing carbon: 5.1 million tonnes of
                                                              carbon dioxide were sequestered in 2016

               Take the industrial sector, for instance,
               where the main stakeholders are the            In 2016, Mahindra and Mahindra Limited
               corporates or businesses, the                  became the first Indian company to
               government, small and medium                   announce its internal carbon price of $10
               enterprises (SMEs) and micro and small         per tonne of carbon emissions. This was
               enterprises (MSEs). As part of their           in line with its business commitment to
               sustainability efforts, many corporates        reduce its GHG emissions by 25 percent
               have begun setting voluntary emission          over the next three years. Other
               reduction targets. A report by Carbon          initiatives include an investment in 4.2
               Disclosure Project (CDP) states that           MW of wind power and the use of
               around 80 percent of India’s big               magnetic induction, LED lighting
               companies have emission reduction and          technology and waste heat recovery
               renewable energy targets in place, and         systems at its plants.
               have put up an internal price on carbon        Infosys has one of the largest energy
               as a part of their risk mitigation             efficiency retrofit programmes in the
               strategies.                                    world to its credit. The IT firm invested

               What would prove more efficient is to          $60 million to retrofit existing systems in
               have consortium of Indian companies,           12 campuses with energy-efficient ones.
               which could collaborate with the               Infosys also relies on renewable energy
               government to follow stringent carbon          for its energy needs: it has installed 12
               management policies and carbon pricing         MW of solar photovoltaic systems across
               activity. The government could play a key      its campuses. The company’s energy
               role by setting targets, framing guidelines    efficiency measures led to a reduction of
               or providing incentives for companies to       around 59 percent across its scope 1 and
               invest in environment-friendly                 2 emissions.
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