New Delhi: Indian companies apparently still see more opportunities arising from climate change than physical risk.
This year’s Carbon Disclosure Project (CDP), now in its second year in India, has received responses from 51 companies agreeing to disclose their carbon emissions.
Total greenhouse gas emissions reported by the companies are about 35.86 million tonnes of carbon dioxide.
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The Indian report was jointly supported by WWF-India, CII-ITC Centre of Sustainable Development and CDP.
Though the number of companies has gone up from 37 to 51, the total percentage of respondents went down from 33.6% to 25.5%.
Some 10 companies declined to participate while the rest didn’t respond.
The CDP had sent questionnaires seeking disclosures on current emission accounting, risks and opportunities to business, strategy to reduce emissions and minimize risk and capitalize on opportunity, to 200 Indian companies.
Household and personal product companies had the highest response rate of 43%, while none of the consumer durable and apparel sector companies that were sent the questions responded.
“Many companies are having a tough time at this moment and doing anything new is difficult, not just because it’s climate change but anything new, products and developments, have been put on hold,” said Paul Simpson, chief operating office of CDP.
He added that one of the key actions that companies can take on climate change is become more efficient, which actually may be the best thing to do in these times of shrinking resources.
Contrary to the popular perception that the Indian public sector has been slow to catch on to the trend of following a low-carbon path, the survey response from public sectors has been encouraging.
Out of the 51 respondents, 11 were from PSUs, another 11 from MNCs and 39 from other private sector companies.
“Though the Indian corporate sector is increasingly shifting towards being “energy/climate smart”, most companies are yet to demonstrate integration of net climate risk exposure of their assets systematically into investment strategies,” said Ravi Singh, secretary general and CEO, WWF-India.
Video by Rahul Sharma