India Among Top Three In Global Decarbonisation Efforts

A recent report has revealed that India ranks among the top three countries for setting and achieving carbon emission reduction goals, only behind China and Brazil. The survey, covering 1,864 executives across 26 countries, found 12 percent of Indian companies report their emissions, against the global average of 9 percent. A higher percentage—24 percent—of Indian firms have set emission reduction targets compared to 16 percent globally, with 15 percent of these companies already reducing emissions, aligning with the Paris Agreement's 1.5°C target. 

Prime Minister Narendra Modi had previously announced India’s ambition to achieve net-zero carbon emissions by 2070 at COP 26. The survey highlights how Indian companies are transforming their sustainability efforts into financial advantages by leveraging advanced technologies like AI. Anirban Mukherjee, Managing Director at BCG India, underscored that India’s progress reflects both economic growth and environmental responsibility. 

The report, "Boosting Your Bottom Line Through Decarbonisation," also noted significant financial benefits for companies embracing decarbonisation. Nearly 25 percent of businesses reported decarbonisation efforts contributed to more than 7 percent of their annual revenues, translating to net benefits of $200 million per year. Efficiency improvements, waste reduction, and renewable energy adoption were identified as key drivers of these savings. 

Furthermore, the study found that companies using AI for emission reduction were 4.5 times more likely to succeed. AI is proving instrumental in advancing sustainability by automating processes and enabling businesses to focus on strategic carbon reduction goals. 

Despite these gains, experts warn the window to limit global warming to 1.5°C is closing rapidly. Charlotte Degot, CEO of CO2 AI, emphasised that AI could be pivotal in empowering companies to take meaningful action towards combating climate change.