Indian CEOs’ alliance to supercharge race to net zero

To boost India’s climate action and decarbonization efforts, the World Economic Forum has launched an India chapter of the Alliance of CEO Climate Action Leaders.As part of the World Economic Forum’s Climate Action Platform, the alliance will work to realise the vision outlined in Mission 2070.

A Green New Deal for a Net Zero India, a white paper published last year on India’s low-carbon transition by 2070. It will bring together the government, businesses, and other key stakeholders to help India achieve Prime Minister Narendra Modi’s ambitious five-part “Panchamrit” pledge, which includes a net-zero by 2070 goal.

“India’s role in mitigating climate change is critical as a major global economy, and India Inc. must contribute its full weight to the country’s efforts, as well as the global effort, against global warming,” said Sumant Sinha, co-chair of the Alliance of CEO Climate Action Leaders India and chairman and CEO of ReNew Power.

The Alliance, which is a collaboration between management consulting firm Kearney and Indian think tank Observer Research Foundation, will serve as a high-level platform to assist business leaders in developing and implementing plans and programmes to meet climate goals, including net-zero economic growth. It will draw on lessons learned and experiences gained from international initiatives like the Alliance of CEO Climate Leaders and the First Movers Coalition.

“The Alliance joins our comprehensive nature and climate action agenda in India, which includes collaborative initiatives like Trillion Trees, Moving India for rapid electric vehicle deployment, clean energy financing, Food Innovation Hubs, Stakeholder Capitalism metrices, and Clean Skies for Tomorrow,” said Brge Brende, World Economic Forum president.

“We believe that it is absolutely possible for us to achieve 1.5℃ target from the Paris agreement,” said Anish Shah, co-chair, Alliance of CEO Climate Action Leaders India and MD and CEO, Mahindra Group. The signs of climate change with varying temperature & weather patterns impacting human lives are clearly visible to all of us. Every step we take together, matters to Mother Earth, he added.

By 2030, a just transition could generate over $10 trillion in annual business opportunities and 395 million jobs globally. India alone could generate over $15 trillion in economic value and more than 50 million net new jobs.