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The companies –Tata Consulting Engineers, Hindalco, Dalmia Cement, Thermax, Siemens Energy (India) and Shell Group of Companies (India) – voluntarily committed to reach the ‘near zero emissions’ goal through multiple decarbonisation measures.
Facilitated by New Delhi-based energy and environment think-tank TERI, the Charter signatories unanimously expressed the intent to make their companies exemplars of low or zero carbon technology solutions within their sectors, and gradually bring more heavy industry sectors into their fold.
The Charter was signed in a virtual event at the ongoing Climate Week NYC, which is being held alongside the UN General Assembly session, as part of efforts by non-state actors, businesses, local governments and cities to reach carbon neutrality by 2050 to save the world from disastrous consequences of climate change.
“Actions taken now will determine the outcome of ‘near zero emissions by 2050’. After our assessments for the electricity sector transition in India, we are excited to take forward the industry transition agenda,” said Ajay Mathur, director general, TERI.
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He said, “This Charter is an important step from Indian industry to voluntarily commit itself to decarbonisation measures and work together in key thematic areas that can make a ‘zero carbon’ future a reality for India.”
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TERI will serve as the secretariat of this industry coalition. As founding signatories of the Charter, these industries committed to enhancing energy efficiency, renewable energy and circular economy across member-companies and supply chains.
Supporting the transition of India’s Paris Agreement commitment of carbon intensity reduction, these industries will undertake carbon sequestration efforts, if needed, and set reporting indicators and targets to enable tracking of corporate goals on the decarbonisation pathway.
Though the number of local governments and businesses pursuing net zero emissions target has grown significantly in the past one year, it won’t bring desired results unless national governments in the US, China, EU and India raise their climate action targets.
China’s announcement at UN General Assembly to achieve carbon neutrality before 2060 has raised some hope, but the fate of the global goal will depend on the outcome of the US presidential election later this year as the country under Donald Trump has already eroded the gain what it had achieved under eight-year tenure of Barack Obama due to climate change denial approach of the Republicans.
Calling for every government, business, civil and international organization in the world to develop a transition plan to net-zero emissions, and boost ambition in finance and adaption as an equal priority to cutting emissions, the UN Secretary General on Thursday said, “Carbon dioxide emissions from fossil fuels and forest fires reached an all-time high in 2019 and are 62 per cent higher than in 1990. We must urgently reverse course.
“That is why I am asking all leaders – governments, businesses, financiers, civil society and youth – to act on three urgent priorities, beginning today: First – we need sustainable COVID-19 recovery plans that tackle climate change. Second, we need to protect our economies and societies by acting in line with what science tells us. Third, we must prioritize the most vulnerable people and communities.”
In order to harness the growing momentum, the round-table also included the announcement of a virtual Climate Ambition Summit on the 5th anniversary of the Paris Agreement on December 12.
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“The fifth anniversary of the Paris Agreement on December 12, which will gather leaders from governments, business and civil society, will be an important moment to continue raising climate ambition. I look forward to working closely on this event with the leaders of Chile, the United Kingdom, France and others to deliver increased ambition,” said Guterres.
Referring to the recent announcements from by the European Union and China about their goal to reach carbon neutrality, the Secretary General said, “I now count on them and other main emitters to present the concrete plans and policies that will get all of us to reach carbon neutrality globally by 2050.”
He also asked developed countries to deliver this year on their commitment to provide and mobilize $100 billion dollars a year for mitigation, adaptation and resilience in developing countries.
“Governments must also remove expensive fossil fuel subsidies and take that money to invest in new jobs for the poorest communities,” said Guterres.
