Nadir Godrej reveals key strategies for decarbonisation

Godrej Industries’ chairman, Nadir Godrej, believes sustainability is not a pain, but a gain in the long-run

Net zero is just to avert crisis and for the earth to remain habitual. The global temperature increase needs to be limited to 1.5°C above preindustrial levels. Currently, the Earth is already about 1.1°C warmer, and emissions continue to rise. Where ESG (environmental, social, and corporate governance) is a framework designed to be embedded into an organization’s strategy, it is extremely important concerning net zero.

“ESG is just not a cost. It’s a shared value and needs to be combined with a business goal to create a sustainable world. Our goal is to ensure good health through sanitation, education, and environmental sustainability and we strive to achieve it by 2025,” said Godrej.

As carbon sequestration is one method of reducing the amount of carbon dioxide in the atmosphere, to reduce global climate change. For carbon sequestration, natural carbon storage is cost-effective and regenerative agriculture is a low-cost way to do it as it gives multiple benefits resulting in the production of fruits, nuts, and oil seeds.

We need a carbon price and that makes us less competitive. Border control and protection are necessarily conducive to the G20, to have the steel industries of the G20 produce more steel in the member nations. There is a need for a common policy on decarbonization and if the $50 tax is too high for competitiveness, maybe we can have both the tax and a subsidiary for hydrogen, which will lessen the competitive burden.

Sustainability is not a pain for all, it is a gain for us all to last long and thrive to survive. Green energy projects are very low-risk projects with very high returns. “Every project on energy efficiency I saw had a 100% ROI,” said Mr. Nadir Godrej, Chairman, Godrej Industries & Godrej Agrovet while speaking at the 5th Edition of The Economic Times Global Sustainability Alliance.

Sharing his thoughts on ESG as an opportunity for a sustainable world, Mr. Nadir Godrej believed that “ESG is just not a cost. It’s a shared value and needs to be combined with a business goal to create a sustainable world. Our goal is to ensure good health through sanitation, education, and environmental sustainability and we strive to achieve it by 2025. As we are leading the G20, which has a common.”

“There is a need for a common policy on decarbonization, and if the $50 tax is too high for competitiveness, maybe we can have both the tax and subsidies for hydrogen, which will lessen the competitive burden,” states Godrej.

With the world’s decarbonization in power, prevention is the key to a better future. There are many paths that we can see for achieving carbon neutrality and the cheapest way is certainly through energy efficiency. In 2010, Godrej decided to modernize social responsibility and developed the Good and Green Program, of which one of the goals was Carbon neutrality.

Emissions should be reduced. Nonetheless, we need to produce green energy in full measure. Solar, nuclear, and wind energy could be used to our advantage towards carbon-neutral goals, but we require using solid biomass or biofuels for green energy generation and usage for continuous operations. Now, when petrol and diesel prices are hitting the ceiling, coal sales are relaxed. In conclusion, carbon prices must be traced properly.

(Edited by Aditya Krishnan)