India accelerates sustainability and climate action at FICCI’s 97th AGM

Union Minister of Environment, Forest, and Climate Change, Bhupender Yadav, addressed FICCI’s 97th Annual General Meeting, emphasising the need for industries to balance shareholder interests with broader stakeholder responsibilities. He underscored the importance of incorporating climate change, energy usage, and consumption patterns into corporate social responsibility.  

The minister outlined government efforts to combat air pollution in the Delhi-NCR region, particularly during the challenging climatic conditions of November. He highlighted the transition of industrial units to cleaner fuels, with 7,442 out of 7,759 units in Delhi adopting cleaner alternatives. Similarly, Haryana has converted 2,954 out of 3,141 units, Uttar Pradesh transitioned 2,183 out of 2,273 units, and Rajasthan switched 482 out of 522 units. Additionally, BS-VI fuel standards and the SATAT (Sustainable Alternatives towards Affordable Transportation) initiative are being promoted to reduce vehicular pollution.  

Minister Yadav also spoke about the Green Credit Initiative, which has achieved notable results in its first 100 days. A total of 22 public sector units have used the Green Credit Programme (GCP) portal to cover approximately 47,937 hectares of land. The initiative, which aligns with the government’s environmental agenda, aims to increase India’s green cover to 33% using a market-based mechanism.  

In a push for cleaner industrial practices, the ministry has introduced regulatory frameworks under the circular economy initiative for ten waste categories. These include lithium-ion batteries, e-waste, hazardous industrial waste, scrap metal, tyres, end-of-life vehicles, gypsum, used oil, municipal solid waste, and solar panels. Yadav emphasised that the circular economy is vital for ensuring sustainability through mindful resource utilisation.  

Dr. Anish Shah, FICCI President, highlighted India’s target of achieving 50% renewable energy by 2030 and noted that renewable energy is currently produced at 40% of the cost of fossil fuels, reflecting the nation’s progress in transforming its energy landscape. He also acknowledged India’s leadership in climate action during a time of increasing global environmental challenges, such as floods and heatwaves.  

Harsha Vardhan Agarwal, President-Elect of FICCI, added that sustainability, biodiversity, and the transition to net zero require collective efforts. He noted that Indian businesses are investing in green technologies and focusing on low-carbon, inclusive development, aligning with the government’s sustainability framework.