The future points towards clean energy as the only route map to achieve net-zero carbon emission goals. It’s a future where Indian corporates will have a crucial role, whether they have realised it by now or not.
“With accelerated heating being a real prospect, the focus of corporations has to shift to adaptation,” said Anish De, global sector head (power and utilities) of the consultancy major KPMG. “In this new and changing norm on climate mitigation and adaptation for corporations, boards carry the principal responsibility for making that change happen.”
One month after COP26 in Glasgow, they were talking on the eve of the energy and natural resources event ENRich 2021 which starts on Tuesday, and the launch of a report by KPMG in India titled ‘Decarbonisation and the evolving role of corporate boards’. The report highlights how companies, especially Indian firms, need to up the game to meet the challenges of the carbon constrained world and meet their net-zero targets.
Yet, it’s a goal many companies are confused about. But with many governments dragging their feet, “It’s not a choice any more,” according to an analyst.
Added Manpreet Singh, partner – ESG, KPMG, in India, “(Companies) recognise that stakeholders—such as investors, regulators, and customers—expect organisations to deliver a positive impact.
The purpose-led CEO follows through and delivers on commitments with a big focus on ESG programmes. CEOs are under pressure to build back better, taking action to mitigate climate change risks and reduce emissions.”