According to a new study, only 29 of the top 50 private enterprises in the country have a time-bound aim to become carbon-neutral as part of the United Nations Sustainable Development Goals (SDG). Only 14 of the top 50 firms have recorded their successes under all 17 sustainable development goals (SDGs) issued by the global organisation to combat the impact of climate change, according to the ‘Capri Global Capital Hurun India Impact 50.’
Commitment to achieving Net-Zero by 2070
Declaring a goal of becoming a carbon-neutral firm is seen as a critical step in India’s pledge to net zero by 2070.
Only 29 of the 50 companies on the list have time-bound goals, according to the research.
It was announced in a statement that ITC and Infosys had already met their targets in 2006 and 2020, respectively.
Cipla and Adani Ports and Special Economic Zone are among the companies that have set a goal of becoming carbon neutral by 2025. In addition, Mahindra & Mahindra, Ultratech Cement, Hindustan Zinc, and Tech Mahindra have introduced a carbon price policy within their companies to minimise emissions.
Climate action emerged as the top priority for the companies on the list, with 41 companies from a variety of industries working on it, including cement, software and services, metals and mining, and financial services. With 31 companies making efforts in these areas, responsible consumption and production came in second.
Progress on other SDGs
Grasim Industries, a subsidiary of the Aditya Birla Group, topped the list for its efforts to achieve SDGs such as zero hunger, gender equality, climate action, and responsible consumption and production. According to the statement, Grasim Industries was followed by Tech Mahindra, which invested in industry, innovation, and infrastructure.
Hindustan Unilever was the company with the most measurable time-bound targets focusing on eight SDG pillars, according to the report. With seven SDGs each, HUL was followed by Tech Mahindra and ITC.
Anas Rahman Junaid, Hurun India’s managing director and chief researcher has conveyed that India Inc is actively seeking structural improvements to rigorously monitor and report sustainability targets, according to the list. He added the hope is that the list will encourage more businesses to align their operations with the United Nations’ sustainable development goals.