For the second consecutive year, ERM has partnered with Carbon Disclosure Project (CDP) India to develop the India Climate Change Report, which analyses climate related data disclosed by Indian companies this year.
Masood Mallick, ERM’s Asia Pacific Managing Partner, presented the 2017 key findings at the launch event held at the Bombay Stock Exchange in Mumbai, India.
The India Climate Change Report is a flagship sustainability publication for India and is supported by the Bombay Stock Exchange (BSE). CDP is a global non-profit organization which runs a global disclosure system that enables companies, cities, states and regions to measure and manage their environmental impacts. They have built the most comprehensive collection of self-reported environmental data in the world. ERM’s involvement in producing it highlights our expertise on the sustainability agenda.
About the Report
For the 2017 Report, 51 Indian companies responded to the CDP Climate Change questionnaire; 43 of which were among BSE Top 200 companies and three from other benchmark samples to whom CDP had sent information requests. In addition, another five self-selected companies came forward on their own volition to disclose their climate impact to CDP.
The key highlights from the 2017 India Report include:
- Businesses are increasingly focusing on setting emissions reduction and renewable energy targets. Energy efficiency continues to be a top choice for emissions reduction initiatives.
- There is a growing trend of increasing demand for renewable energy for captive consumption.
- Internal pricing on carbon is being deployed as a risk mitigation tool by companies. In 2017, 40 reporting companies declared an internal price on carbon or intend to put one in place within the next two years.
- Companies are showing increasing awareness on data quality and assurance.
Learn more about the India Climate Change Report 2017
Speaking about the report, Masood said: “The narrative around climate change in the Boardrooms of India Inc. is finally changing…from being just ‘a profound macroeconomic problem’, companies are increasingly recognizing both the risks and the opportunities associated with Climate Change and the related potential impacts on their businesses. A number of Indian companies have already adopted Science Based Targets and several others are preparing to follow suit. That said, India Inc. still has a long way to go in the context of a Two Degree future.”
“ERM’s partnership with the CDP also complements a number of other partnerships (joint publications, join events and outreach campaigns) we have in India including with the IFC, WBCSD, Dow Jones Sustainability Index (DJSI) and Confederation of Indian Industry (CII). It gives us a broader knowledge and opportunity to help our clients to achieve their sustainability goals.”
ERM and Sustainability in India
For over 20 years, ERM has played an integral role in helping Indian and foreign investors to the country assess the environmental, social, health & safety and governance related risks to their investments. Since the signing of the Paris Agreement, an increasing number of clients have engaged ERM for its climate change related risk services. ERM’s expertise in current and future regulatory scenarios emanating from India’s commitment to reduce its GHG (Greenhouse Gas) emissions has been of particular value to clients.