Indian Inc. has aggressively started responding to an issue of `Climate Change and Global Warming’, as nearly 21% of domestic corporates are taking initiatives to mitigate its negative impacts to `Save Earth` from greenhouse emissions but is still way behind of 55-60% of global ratio, reveals findings of the ASSOCHAM Survey. Two years ago, the ratio of Indian Inc. for fighting out global warming was just below 10%.
The Chamber Survey has taken views of 180 top corporates and 240 employees engaged in companies vigorously adopting measures to mitigate aftereffects of climate changes, further unfolds that 21% of corporates have committed measures by partnering with developed world to respond to needs for climatically changes in blocs such as US, EU, ASEAN etc. The initiatives taken by domestic corporates to address the issue is being wholeheartedly supported by over 60% companies in the aforesaid regions, adds ASSOCHAM findings.
The respondents in the survey felt that PPP model in these countries are working on the right direction for protecting the environment from damaging effects of global warming but the partnership offer between Indian corporates and the government have yet to pick up the required pace.
Releasing the findings, the ASSOCHAM President, Mr. Sajjan Jindal said that a meager 7-10% of employees working in various government and private sector has taken the issue seriously and are keen to work closely with industry and society, further reveal the survey. This segment holds that government, corporate and NGOs have to effectively launch the climate change and global warming campaign in every metro, town and villages.
However, about 79% of domestic corporates still first prefer to take their expansion and diversification drives in their respective corporations to logical conclusions as the issue of climate change and global warming is the second best preference for them, said Mr. Jindal.
The ASSOCHAM Chief appealed to India Inc. to voluntarily adopt and earmark a certain percentage of their annual earnings to respond and address too the issue of climate change and global warming as even general refrained to it will cost them dearly and hurt the element of their corporate social responsibility in negative manner.
ASSOCHAM SURVEY ON CLIMATE CHANGE & GLOBAL WARMING
-- 21% Domestic Corporates Taking Aggressive Initiatives to Fight Out Global Warming
-- Still Far Behind of Global Ratio of 55-60%
-- Two years ago, below 10% Indian Corporates have responded on the issue
-- Meager 7-10% of Indian Employees keen to work for the cause
-- 79% Indian Inc. First Prefer Expansion Drive
-- 70% respondents feel climate change can hit agri, forestry, transport & energy sector growth
-- 75% corporates called for alternatives way like switching over to natural gas & renewable energy
-- Majority of corporates are keen to campaign for the issue in a coordinated way
-- Majority of corporates are now realizing the importance of climate change and are willing to campaign in a coordinated and cooperative way to understand implications of climate change and are working on strategies needed to cope up with adverse effects of the same. Saplings are being planted at large scale at various manufacturing units as per prescribed norms and sites coming up for dumping industrial wastes to prevent corporates cause hazards to environment and ecologies.
-- Over 70% respondents are found to be extremely sensitive to problems arising out of environmental degradtion and its impact on climate changes including agriculture, forestry, transport and energy etc. as dependence of Indian economy will grow larger on these sectors. The challenge could be addressed if the efforts to address climate change are integrated with sustainable development, strongly feel the respondents.
About 75% corporates stressed the need for finding alternatives to fossil based fuels by switching over to natural gas and renewable energy, adopting energy efficiency measures, cleaner technologies and better utilization of waste. These measures would not only help India in following the path of development but would also help in reducing the overall environmental impact of operations on society and the nation to prepare itself against climate change impacts.
Apart from these efforts, investment in research and development of new and clean technologies leading to a stepper reducing in GHG emissions is being looked into as one of the options to tackle the problem of climate change, feels the respondents. Greenhouse gases (like carbon dioxide, methane, nitrous oxide, water vapour, ozone), re-emit some of this heat to the earth's surface.
According to Chamber, the issue of climate change requires collaborated efforts and will not work effectively unless all major economies come together to deal with the problem, as major economies in the world contributing 83% to global GHG emissions. An increase in the levels of GHGs could lead to greater warming, which, in turn, could have adverse impact on the world's climatically conditions.
