Towards COP33: How can Indian industry contribute? – Sustainability News

By Rajesh Mehta

During his address at COP28 in Dubai, Prime Minister Narendra Modi extended an invitation to host the 33rd Conference of the Parties of the UNFCCC (COP33) in India in 2028. Following the successful hosting and presidency of the G20 summit, India is positioned well to offer global leadership on the urgent issue of climate change. India’s leadership is substantiated by tangible results – the country surpassed its emission intensity targets 11 years earlier than pledged and maintains steady progress toward meeting its Nationally Determined Contribution targets. 

In the nation’s sustainability journey, the Indian industry has to play a critical role and must undergo substantial transformations, fully embracing authentic green business practices. Several leading entities in corporate India exemplify this commitment, where their actions align with their sustainability pledges. ITC stands as a good example among them. But, what steps can all businesses across industries take to embark on a path of sustainability and actively contribute to overarching national objectives?

Start with a Sustainability Philosophy

Sustainability in business is not a mere series of disconnected actions showcased in annual reports. Instead, laying the groundwork for an enduringly sustainable organization begins with crafting, refining and genuinely embodying and pursuing a sustainable philosophy. Take a cue from ITC’s 2023 Sustainability Report themed ‘Shaping the Future,’ capturing eco-friendly pathways aligned with the company’s pursuit of its philosophy and core vision of ‘Responsible Competitiveness.’ This vision aims to foster a greener, cleaner world while significantly supporting livelihoods on a substantial scale, very much aligned with national goals.

Once a core philosophy is established, the organization must integrate it into every facet of its operations. ITC’s vision of ‘Responsible Competitiveness’ has been pivotal in driving innovative business models. This vision empowered ITC to attain global environmental milestones, operating as a carbon, water and solid waste recycling positive enterprise for over 18, 21, and 16 years respectively. 

A key method to drive sustainable business transformation is by consistently pursuing recognized global standards and prestigious green certifications. Throughout the ITC conglomerate, all its businesses have gone past sustainability barriers by diligently adhering to these global benchmarks.  ITC Hotels proudly holds the distinction of being the first to achieve 12 LEED Zero Carbon hotels worldwide, alongside boasting the first 2 LEED Zero Water properties. ITC’s Foods unit in Malur secured the prestigious AWS Platinum level certification, marking it as Asia’s inaugural food processing facility to receive the highest water stewardship recognition globally. Similarly, ITC’s Paper business achieved a remarkable feat, with its Paperboards Unit in Kovai becoming the inaugural site in India and the world’s first paper mill to attain this certification. Moreover, ITC Sankhya in Bengaluru made history by being recognized as the world’s first data centre to receive the LEED Zero Carbon certification.

Being Proactive, Reclaiming Nature & Sharing Best Practices

According to a recent MIT article, the most effective and scalable strategy for greenhouse gas removal involves massive tree planting through reforestation or afforestation. Termed as a Natural Climate Solution(NCS), this method extracts carbon dioxide from the atmosphere via photosynthesis and soil carbon sequestration.

Demonstrating a proactive and holistic approach to mine closure planning along with reclaiming nature, Vedanta Sesa Goa Iron Ore reclaimed Sanquelim mines much ahead of statutory guidelines that came into force in the 1980s. Undertaking extensive afforestation on the reclaimed land, they transformed it into a thriving biodiversity park. This site now hosts a specialized school that imparts technical skill training to youth, preparing them for the industry.

ITC’s expansive afforestation initiatives serve dual purposes, mitigating greenhouse gas emissions and rejuvenating degraded lands. These efforts combat soil erosion, enhance soil organic matter, and have successfully greened over 1 million acres and have generated  more than 190 million person-days generated. ITC’s Integrated Watershed Development Programme has covered approximately 15.04 lakh acres in water-stressed areas, benefiting 4,38,000 people. This initiative has facilitated the creation of 26,055 water harvesting structures and 3,691 groundwater recharge structures, accumulating a storage capacity of over 51.16 million kl of water.

Companies like UFLEX have elevated collaboration to a new level, aiming to ensure the wider industry reaps the rewards of innovative sustainable practices. The company is actively willing to share its recycling technology for multi-layer mixed plastics, a technique it has honed and implemented over the last three decades. Notably, UFLEX holds the distinction of being the first company globally recognized by the “Davos Recycling Forum” in 1995 for its expertise in recycling mixed plastic waste. Recently, it unveiled aa enzyme-based delamination technology to segregate the different layers in aseptic packaging and to bring back the recycled paper from the packaging into use – closing the circular loop.

Businesses must hardwire sustainability into their production processes, systems and products, guided by a fundamental philosophy to ensure that the sustainability agenda becomes tangible and influences daily decision-making within management.

Addressing climate change is not optional; countries and businesses must recognize and act upon the fact that the only viable future is one grounded in sustainability. Failure to embrace sustainable practices could lead to adverse consequences for both businesses and nations. So it is prudent to maintain a forward-thinking sustainable approach and get ready to host COP33!

Rajesh Mehta is a leading International Consultant in the field of Market Entry, Innovation and Public Policy

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