Climate change is at the centre stage of global discussions. The warming of the climate
system is unequivocal, as is now evident from observations of increases in global average air and ocean temperatures, widespread melting of snow and ice, and rising global mean sea level. Climate change is undoubtedly one of the greatest environmental, social and economic threats, our planet faces today. It impacts all countries, but is particularly severe for developing countries like India, given their vulnerabilities, inadequate means and limited capacities to adapt to its effects.
Government of India (GOI) favours a multilateral response to the issue of climate change;
based on the principle of ''''''''common but differentiated responsibility''''''''. GOI maintains that
green house gas mitigation and adaptation strategies should be designed to allow developing countries to achieve rapid economic growth and meet millennium development goals with sufficient resources to support adaptation efforts. The just concluded ''''''''Bali Roadmap'''''''' has underscored the need for a national agenda of action to address climate change issues.
indian industry understands the risks associated with climate change on their corporate
functioning. While appreciating GOI''''''''s stand on the issue, it is to be noted that industry and other stakeholders in India are well positioned to transform this challenge into an opportunity. Ample evidences indicate that Indian economy is on a low energy intensity path by adopting innovative practices. This paper notes the strategies adopted and outlines technologies, practices and policies for the future that will help India leapfrog to a low carbon economy.
The recent initiatives taken by CII in developing the ''''''''CII-Sohrabji Godrej Green Business
Centre'''''''' and ''''''''CII-ITC Centre of Excellence for Sustainable Development'''''''' are proving that
''''''''triple bottom-line'''''''' approach makes sound business sense. Mindsets of corporates are towards responsible and inclusive growth. In continuation, CII reaffirms its commitment to maintain leadership in exploring and promoting best global business practices in tackling the challenge of climate change. The present paper is meant for due contemplation, reflection and fortifying conviction of Indian corporates in securing a global solution to reduce carbon footprints.