Explore India's sustainable transition and the pivotal role of innovative SaaS solutions
India has become an economic powerhouse and is advancing towards a greener future. Under Prime Minister Modi’s leadership, India has clearly outlined its goal of achieving net-zero emissions by 2070 1 , positioning sustainability at the core of her growth. This is consistent with a worldwide trend where more than 140 countries, including the world’s major polluters – China, the United States, and the European Union – have set net-zero targets, accounting for around 88% of global emissions. Furthermore, over 9,000 corporations, 1000 cities, 1000 educational institutions, and 600 financial institutions have joined the Race to Zero, promising to take severe, immediate action to decrease global emissions in half by 2030.
India stands at a pivotal juncture in its sustainability journey, ambitiously pursuing sustainable development to fuel its rise as a global power. To realise these ambitious goals, India is focusing on levers such as renewable energy, electric vehicles, and green hydrogen, backed by policies encouraging reduced carbon emissions and material circularity. While the government is providing the impetus, the transition will be spearheaded by the actions of the private sector.
India’s path to sustainability and its key focus areas
This transition is underpinned by India’s determination to become a leader in renewable energy, evidenced by its goal to install 500 gigawatts of renewable capacity and reduce its emission intensity by 45%. With over 42% of its energy capacity rooted in sustainable sources, India is not just the world’s third-largest energy producer but also a leader in green energy initiatives. The Government of India’s bold target to produce 5 million tonnes of green hydrogen annually by 2030 is a testament to its commitment to achieving net-zero emissions by 2070.
Yet, as India strides towards becoming a $26 trillion economy by 2048, its industries grapple with substantial sustainability dilemmas. Many Indian firms struggle with the complexity of sustainability management. Only 27% of firms feel sufficiently prepared, highlighting the lack of sustainability management and execution.
Particularly, the logistics and transportation sector, a significant contributor to the country’s CO2 emissions, stands at a crossroads. It must pivot towards cleaner, more sustainable practices. For instance, the real estate and the manufacturing industry grapple with sustainability challenges of their own, including limited control over supply chain standards, funding constraints, and a lack of knowledge to develop robust sustainability strategies.
This is not an isolated case but a common theme across all boardrooms. Encouragingly, a collaborative effort between corporates, government bodies, financial institutions, and international allies is fostering advancements in sustainable financing, marking a decisive step towards an eco-friendlier future.
The evolution from CSR to ESG reporting and the relevance of ESG management tools
The shift from CSR to Environmental, Social, and Governance (ESG) reporting signifies a deeper integration of sustainability into corporate ethos. The introduction of frameworks like the Business Responsibility and Sustainability Report marks a significant advancement in the country’s ESG reporting landscape. The BRSR connects with worldwide frameworks such as GRI, TCFD, and SASB. SEBI has mandated that the top 1000 listed firms in India disclose BRSR beginning in fiscal year 2022-23. Moreover, SEBI adopted BRSR Core in July 2023 to supplement ESG reporting for listed Indian corporations. It is a subset of the broader BRSR framework, providing particular KPIs across nine ESG attributes.
Co-founder
Breathe ESG
Amidst these developments, a critical challenge emerges: bridging the gap between companies’ sustainability intentions and their execution capabilities. There has to be a single source of truth for their sustainability metrics and actions that can be used to baseline and drive true decarbonisation. In this landscape, SaaS platforms like Breathe ESG emerge as a key facilitator, transforming the way Indian companies approach and achieve their sustainability objectives.
The role of Data and SaaS
By providing robust sustainability management systems, Breathe ESG enables companies to efficiently measure, analyse, and enhance their ESG performance and data. The platform allows you to configure ESG metrics, collect vital data, compute values like total GHG emissions, and provide them to you in the form of dynamic dashboards and comprehensive reports for assessment. This technological intervention is crucial for businesses to adopt sustainable practices that align with both their environmental impact goals and stakeholder transparency expectations.
