FICCI hosts a one day Conference on
Sustainable Future: The Net Zero Dialogue!
Hyderabad, 5th December 2024: FICCI Telangana State Council hosted a one day Conference on “Sustainable Future: The Net Zero Dialogue”, today at Hotel Avasa. The event brought together leading policymakers, corporate executives, and sustainability experts to discuss innovative strategies for balancing sustainability with profitability.
The conference was inaugurated by Ms. Wendy Werner, India Country Head, International Finance Corporation (IFC), World Bank Group; and delivered the Chief Guest address. Guests of Honour Mr. Erik af Hällström, Hon’ble Consul General of Finland in Mumbai; & Mr Sandeep Kumar Sultania IAS, Principal Secretary – Energy, Finance & Planning, Government of Telangana; graced the occasion.
Ms. Wendy Werner, India Country Head, International Finance Corporation (IFC), World Bank Group;delivering a compelling keynote address on the critical role of corporate strategies in achieving net-zero targets said, it’s a critical challenge, the question whether or not climate is going to impact us, it’s a global challenge which impacts us every day, it is critical to the future of our economy, individual businesses but also our societies and also our planet. In the past sustainability and profitability were often seen asopposing forces, and business were driven by purely focussing on shareholder value, sometimes at the expense of social impact. But today we have to work to ensure that these two objectives must co-exist, I am sure that all of you as business leaders have that contention in your own discussions and internally. Now the key question is how we can align sustainability with economic growth and business, so that we reinforce rather than undermine each other. I, as an international institutional investor as part of the World Bank Group, we see sustainability in the environment and social governance sphere as a core part of any financial sustainability as well, so we can’t really have one without the other. Let me give a few examples why sustainability is no longer an optional agenda for any corporation. Customers, particularly younger customers increasingly favour brands and products that prioritise environment and social responsibilities and are keen to understand the full impact of our purchases. Governments are increasingly enforcing stricter standards and India is very much amongst those governments. Investors are also placing a very strong emphasis on sustainability matrix. Any business that is not considering the impact of heat, the regulations, the requirements and growing challenges to the climate is not going to have a clear understanding of business operational risks as well. These are the kind of risk management and also opportunity challenges that any business must undertake and integrate sustainability into business strategy. Also, what is the need for circular economy models looking at how all of the inputs are reused, because circular economy is inherently important for us, because of which we are feeling always that we are constantly building a bit of a problem for ourselves in the future. Secondly, providing more green financing is happening in the domestic financial sector here in India, and also globally, though not enough is happening, but here in India there is a strong emphasis for Financial Institutions to Finance Green enterprises and green projects and this is very much backed by the Reserve Bank of India. Looking at a broader space we see sustainability linked loans is a an important financial product that is becoming critical when it comes to sustainability. Increasingly we see sustainability linked lending and sustainability bonds are becoming important financial tools that can incorporate the desired targets and matrix of a particular company. So its not about one size fits all into sustainability, its providing a framework that a company chooses its own sustainability pathway is and its sustainability matrix is, and achieving those will give a benefit from the financier. So Green financing has plethora of new options coming into mainstream. The third challenge is extremely important but may not be immediately obvious, is digital transformation, we all see here in India in the last decade, the important changes that’s happening based on the strong digital integration into all sections of the society, so you feel the digital transformation will be increasingly important in the sustainability agenda. Leveraging the AI, IOT and things like block chain to optimise global energy efficiency and resource tracking and will improve resource utilisation and increasingly that’s how both financiers, governments and buyers will track the sustainability matrix. India is one of the largest country for IFC with a portfolio of $ 9 Bn investment in private companies, last year we did more than a billion dollars in climate financing, we know what it means to find and invest in strong sustainability leaders and are very committed to seeing those sustainability leaders and green projects grow here in India. We are a strong investor in the renewable space, we are also pleased to look to partner with Greenco. We see renewables as a major space for growth, coming up across all the geographies and are increasingly looking at new technologies to achieve round the clock fully renewable power. We also look at Agriculture and innovations in agriculture. IFC also has a strong focus on gender inclusion, which is an important aspect of sustainability.
The inaugural session also featured eminent speakers including Mr Maurya Pydah, Group Chief Operating Officer and Executive Director Greenko Group; Mr. V V Rama Raju, Co-Chairman, FICCI Telangana State Council and Dr. P Rambabu, Co-Chair, FICCI National Committee on Environment & Climate Change and Advisor, Greenko Group.
Mr. V V Rama Raju said, this is a critical moment of our collective histories, climate change no more a distant challenge but an immediate reality affecting lives, economies and ecosystem world-wide. This conference serves as a platform to confront these challenges and explore strategies to achieve net zero effluence, while ensuring business viability. Our theme today is balancing both sustainability and profitability and underscores the vital synergy required between the environment and economic growth. The Conference structure is built to achieve a meaningful engagement.
Dr. P Rambabu said, the way the world tackled Covid gives us a hope that we will be able to tackle and put our resources in place to address the climate change. The story of Greenco provides optimism that it is possible to have renewable energy at a price comparable and affordable. We can also decarbonise significant content of the electricity. The message which came to me is making green sustainable and making green socially and environmentally acceptable, is possible. This is the decade in which we have to act and accelerate our action towards energy transition and industrial transformation. There are mature technologies and need political and financial leadership to address some glitches that are there.
The conference featured three thought-provoking panel discussions and a practical workshop. The panel discussions were on Shaping the Sustainable Energy Future –Innovative Technologies, where experts highlighted groundbreaking advancements driving the clean energy transition. Corporate Sustainability – Strategies for Achieving Net-Zero Emissions discussion had Corporate leaders sharing case studies and actionable strategies for embedding sustainability into business models. The other panel discussion on Decarbonization and Green Financing in Buildings, focused on leveraging financial mechanisms like green bonds and carbon credits to foster low-carbon economies. The Workshop conducted by Mr. Chaitanya Kalia, Leader, Climate Change and Sustainability Services, EY India, provided participants with hands-on training in achieving decarbonization within the manufacturing sector.
Some of the key outcomes from the Conference were, it provided a platform for knowledge-sharing on aligning sustainability goals with business profitability. It presented actionable insights and best practices to inspire participants to adopt innovative approaches to sustainability. The Networking opportunities encouraged collaboration among over 300 attendees, including policymakers, corporate leaders, and sustainability advocates.
About the Organizer:
Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.
A non-government, not-for-profit organisation, FICCI is the voice of India’s business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies.
FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian industry, policy makers and the international business community.