From Ambition to Action: Current Progress of Indian Corporates Towards Net Zero Targets
摘要
Businesses must reduce their Greenhouse Gas (GHG) emissions due to the growing evidence of climate change, which is manifested in the increased frequency of natural disasters, disruptions in supply chain and scarcity of resources. Therefore, this study explores whether the Indian companies are making efforts to reduce their emissions through Science-Based Targets Initiatives (SBTi). Studies suggests that energy sector, industry, Agriculture, Forestry, and Other Land Use (AFOLU), Transport and Buildings are the major contributors of climate change, and this study aims to know which is the leading sector that is committed to reduce their emissions or has taken initiatives to set target to achieve net zero. Data was retrieved from the SBTi dashboard for the month of December 2023 and publicly available sustainability, or integrated reports (F.Y. 2022–23) were used during this study. Findings suggested that the transport sector and mining sub-sector were the least ones to commit and set emissions reduction targets. Companies of the textile industry were the highest to commit but only few of them set emission reduction targets. On the other hand, a smaller number of companies of professional industry committed but they were leading sectors to set targets for emission reduction. Companies are highly focusing on switching to renewable energy as the energy sector is the major contributor of GHG emissions caused by coal combustions. Only a few corporations are trying to optimize their emissions generated from their process and value chain.