Corporate titans pledge to increase ESG commitments at ETEnergyworld Net Zero Forum, ET EnergyWorld

New Delhi: With significant convergence among major industrial companies, ETEnergyworld India Net Zero Forum witnessed intense dialogue among leaders who committed to intensify their efforts towards Environmental, Social and Governance (ESG) standards and achieve ambitious net zero targets. The panel discussion titled ‘The Intersection of ESG and Net Zero in India’ provided a platform for these corporate stalwarts to outline their strategies and address multi-faceted challenges in their sustainability efforts. Prashant Widge, Director of ESG and Public Affairs at AP Moller – Maersk in South Asia, detailed how Maersk is integrating ESG into the core of its business. He stated: “For us, ESG is a holistic approach and enabling further business development. Maersk is a corporation based on values ​​and purpose. The net impact on society is of the utmost importance to Maersk. We recycle ships and containers.”

Echoing this sentiment, Dev Tripathy, CFO, Philips India, shared his insights on the environmental impact of his industry, comparing it to the shipping and aviation sectors. “We are one of the industries that produce 4.4 percent. carbon dioxide industry and can be compared to the shipping or aviation industry. In India, we deal with 17-20 percent. population. We have a huge responsibility. Our latest MRI machines are modernized, eco-designed and feature reduced helium consumption without sacrificing quality,” noted Tripathy.

Ramnath Vaidyanathan, AVP and Head of Environmental Sustainability at Godrej Industries Ltd, highlighted the pragmatic challenges associated with net zero emission commitments in the supply chain. “We have a net zero target for 2035. The industry is not at the level where we can require suppliers to meet net zero commitments,” he noted.

From a construction and urban development perspective, Aun Abdullah, director of ESG at Lodha, highlighted the key role of ESG in the country’s growth trajectory. “ESG is not a compliance issue for us, it is important for the country’s development in a measurable way. If urbanization were to occur, energy security, social mobility and climate security are essential. 50 percent emissions from buildings and decarbonization are important. The biggest problem in the country is data scarcity and supply chain inefficiency,” Abdullah explained.

UPL’s Chief Sustainability Officer, Harshal Sonawane, revealed the company’s goal of significant carbon sequestration. “By 2040, we want to sequester 1 gigaton of carbon back into the soil globally. The agri-food ecosystem accounts for almost 34 percent of total greenhouse gas emissions. “Managing fertilisers, water and waste is important to achieving the net zero ambition,” he said. .

Sourav Gupta, chief risk officer at Pipeline Infrastructure Ltd, cautioned on the need to develop grounded and viable ESG strategies. “While we insist on meeting target dates, our ESG activities must be realistic, commercially viable and we must ensure that we do not resort to eco-shaming in overt zeal,” Gupta added.

Discussions also included the use of advanced technologies such as artificial intelligence to improve ESG practices, enhancing the industry’s ability to effectively achieve sustainability goals.