By IANS
Mumbai : Indian industry has set the trend in low carbon economy growth even as a global debate rages to prevent climate change by reducing dependence on fossil fuels, says a discussion paper released here Friday by the Confederation of Indian Industry (CII).
“The steady GDP growth rate of over eight percent has been accompanied by a less than four percent growth in energy consumption,” says the paper’s compiler V. Raghuraman, principal advisor and head of the energy, environment and natural resources division of CII.
“Indian companies are acquiring the best climate friendly technologies and adopting processes and practices that would bring down industry’s dependence on fossil fuels,” he added.
The discussion paper lays down an action plan for 13 industry sectors for to improve energy efficiency.
It lists actions to be taken by each industry sector to achieve world-class levels of energy efficiency and contribute in a meaningful manner to addressing the massive challenge of climate change, industrialist Jamshyd Godrej, who heads the CII National Mission for Sustainable Growth, said while releasing the paper.
According to Godrej, CII had decided to take leadership and to be proactive in addressing issues relating to climate change.
“For business, climate change is a source of risk but also an opportunity to be understood by business leaders and managed properly,” he added.
“Climate change could have a catastrophic effect upon many industries, disrupting supply chains, operations and customer choices. Increasing scientific understanding, growing public concern and the international negotiations among nations are convincing many business leaders to address climate change in their business plans,” Godrej maintained.
He also announced that CII, which had set up the Green Business Centre in Hyderabad and the Centre for Sustainable Development in Mumbai, would shortly set up a Centre for Water in Jaipur.
The discussion paper outlines the proactive role being played by Indian industry, with support from the government, in adopting technologies and practices that will help the country leapfrog to a low carbon economy.
The paper also notes the various initiatives taken by civil society in this direction and illustrates how the risks posed by climate change can be tackled and converted into business opportunities.
A dedicated fund on climate-friendly technologies in the public-private partnership (PPP) mode has been suggested to promote research, development, demonstration and deployment of clean technologies.
The paper reveals that reduction in energy intensity has been made possible by a range of factors, including India’s historically sustainable patterns of consumption, enhanced competitiveness, proactive policies to promote energy efficiency, and more recently, the use of the Clean Development Mechanism (CDM) in promoting the adoption of efficient technologies.
While the 11th plan (2007-11) targets energy saving of 10,200 MW, Indian industry is confident not only of achieving this target but also of surpassing it, the paper says.