The G20 has been a great opportunity for India to firmly embark on its journey towards leadership in both economic and business sustainability
During our recent visit to Delhi, we could sense the palpable energy and excitement for the upcoming G20 summit. The G20 is not just about politics or economic growth. It’s also about how economic growth can lead to sustainable development. And digital technology is key to unlocking sustainability.
We see the potential of digital technologies to create a more sustainable, productive, and accessible world and are fascinated by the tremendous proliferation of digital technologies in every walk of life during the visit. The connectivity revolution in India is well known, with 5G mobile connectivity infrastructure being deployed at an unparalleled pace. 10 months into the 5G rollout, India has over 300,000 live 5G sites making it the second largest installed base for 5G deployment beyond China. In parallel, the country has done wonders in leveraging that connectivity infrastructure to bring more and more digital tools into the lives of every citizen – payments, access to markets for small and medium businesses, public services, and many others. This digital revolution is a tremendous asset for India to accelerate in sustainability, especially in the two areas of climate and circularity.
Take India’s telecom sector, for example. The aggressive rollout of 5G is not only good for digital infrastructure but also for the climate. 5G can potentially provide 100 times more data traffic with less energy per bit. For a country of India’s scale and data consumption volume, the rapid evolution to 5G can result in huge savings in energy consumption. Also, India’s move to renewable energy leadership, including the launch of the International Solar Alliance, which aims to mobilize $1 trillion of investment in solar energy by 2030 can be a great catalyst to decarbonize the telecom sector and many other sectors.
There is no green without digital. Beyond telecom, digital technologies have a tremendous opportunity to transform the so-called physical industries, which make up about 70% of the economy. Agriculture is one such sector. The world already produces enough food to feed the current population, but over-production, over-consumption and supply chain issues lead to huge amounts of waste. According to estimates, 30-40% of the world’s food is lost or wasted during production, making up 8-10% of greenhouse gas emissions. We have been working with partners on precision farming solutions. Precision and vertical farming is the use of 5G, wireless remote monitoring, private networks, digital sensors, and AI-based analytics to minimize pesticide, fertilizer, water, and energy use, while also maximizing crop yields. Whether in urban vertical farms in the US or the agricultural fields of India, digitalization brings environmental and productivity benefits.
The transition from ‘Linear economy’ (take-make-waste) to ‘Circular economy’ (reduce-reuse-recycle) is another significant opportunity for India. Around 50% of global greenhouse gas emissions come from the global production of materials and less than 10% of materials are treated as circular. Increasing circular practices and reducing waste are therefore critical to combating climate change. For 25 years, we have well-established circular practices that utilize the full value of our products and learnt the importance of involving the many small and medium businesses who are suppliers to large companies in this journey. It’s critical that all players in the value chain – small, medium and large – are part of the transition to circular.
We believe Indian businesses can differentiate and create global brands by adopting circular practices – using non-virgin materials in their products and ensuring maximum circularity in the entire operational value chain. The recent draft E-waste management rules by the environment ministry in India push the agenda towards recycling and while more dialogue and ecosystem development are needed, it is a clear step forward.
Subhagata Mukherjee, Vice President and Global Head of Sustainability, Nokia
“India has leveraged its ambition, culture, frugal innovation attitude, technology and digitalization to be the fourth country in the world to have successfully completed a mission to the moon with the recent Chandrayan-3 launch. And that too on a shoestring budget of only about $75 million, compared to the billions that many countries spend. Much like sustainability, what often measures success is not just the destination, but how you get there.”
Leadership in sustainability requires vision, but it also requires capital investment and collaboration. The G20 has been a great opportunity for India to firmly embark on its journey towards leadership in both economic and business sustainability.
Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members
