World Environment Day 2024 is dedicated to “Restoring Ecosystems for Future Generations.” It underlines the urgent need to regenerate natural habitats and safeguard biodiversity. This year’s campaign promotes global initiatives in reforestation, sustainable practices, and pollution reduction. Through unified action for ecosystem restoration, we aspire to fashion a healthier, more robust planet for our descendants.
We have some statements from India’s industry heads on the significance of World Environment Day 2024 for them and their companies.
Smitha Shetty, Regional Director, APAC, Achilles Information Ltd.
As we mark World Environment Day, let us not just observe but act. This year’s focus on land restoration, desertification and drought resilience is a clarion call to heal the very ground beneath our feet. It is the foundation of our livelihoods, food systems, and ecosystems. It reminds us that we must urgently invest in building sustainable risk mitigation strategies. The fate of our planet, and indeed our future, depends on it. Our planet’s health is our shared responsibility, and every action, no matter how small, contributes to a more sustainable future.
Niranjan Banodkar, Group Chief Financial Officer & Head of Sustainable Finance, YES BANK
At YES BANK, sustainability is at the core of our operations and business philosophy. As signatories to United Nation’s Principles for Responsible Banking, we are committed to aligning our business with the objectives of the Sustainable Development Goals and the Paris Climate Agreement. Our comprehensive four-pronged ESG strategy addresses climate and environmental risks in our lending portfolio, minimises the environmental and social impact of our operations, consistently measures and transparently discloses our ESG performance, and actively collaborates with stakeholders to enhance ESG integration.
We have consistently aimed at integrating ESG and climate considerations into our business. In the last year, we expanded our ISO 14001:2015 certified Environmental Management System to 1,086 facilities across India. We also reduced our carbon emissions by transitioning key facilities to renewable energy sources, in line with our target to achieve net zero emissions from our operations by 2030. YES BANK is the first Indian Bank to measure and report financed emissions of its fund-based electricity generation portfolio and develop targets to reduce its financed emission intensity in line with global decarbonisation trajectories. The Bank continues to support climate-aligned sectors like renewable energy, and electric vehicles and to develop targeted products for green financing such as solar rooftops.
The Bank’s robust ESG governance framework, with oversight from its Board-level, CSR and ESG Committee and its Executive-level, Sustainability Council ensures, that its ethos of responsible banking, percolates throughout the organisation, and enables the Bank to create long-term value for all its stakeholders.
Rahul Garg, CEO & Founder, Moglix
At Moglix, we believe that protecting our planet is not just a responsibility but also an opportunity to create a more sustainable future for all. Moglix’s focus on sustainable procurement, encouraging suppliers to conserve resources, and integrating ESG criteria into our processes endeavours to create a supply chain ecosystem that benefits both people and the planet.
Sooraj Balakrishnan, Associate Director and Head of Marketing, Acer India
Acer stands committed to addressing the urgent call to action presented by the climate crisis. We recognise that restoring ecosystems is paramount in mitigating climate change and enhancing human well-being. Our dedication to sustainability is evident in our recent achievement of reducing carbon emissions by 60 per cent worldwide. Joining the RE100 initiative further solidifies our commitment to environmental stewardship alongside industry leaders. To transition to 100 per cent renewable energy by 2035, we remain steadfast in our mission to foster a greener future. Our Vero line-up of PCs and other IT products which are made of recycled materials is a testament to this cause. On this World Environment Day, we reaffirm our dedication to making meaningful contributions toward a healthier planet for current and future generations.
Rohit Bhagwat, Office Managing Principal and Global ESG Committee Member, ZS
At ZS, we are deeply committed to contributing as stewards of environmental protection. Our efforts aim to restore ecological balance, protect biodiversity, and manage land and water resources effectively. To increase urban green cover, ZS has partnered with Green Yatra Trust, one of the leading environmental NGOs in India. ZS planted 25,000 saplings in 2023 using the Miyawaki technique. This method helps to grow forests 10 times faster, 30 times denser and 100 times more biodiverse compared to a monoculture plantation. We are also restoring water sources, protecting endangered species, and rejuvenating the landscape with support for a six-acre biodiversity park in the heart of Pune. We firmly believe that uniting industry and innovative approaches will cultivate sustainable practices that preserve resources, effect nature restoration, and improve the quality of life for all.
Suresh Bansal, Founder and CEO, DCGpac
As we celebrate World Environment Day, we are reminded of our profound responsibility to safeguard our planet for future generations. At DCGpac, we recognise that sustainable practices are not just a choice, but an imperative. Our commitment to environmental stewardship is at the heart of our operations, driving us to innovate and adopt eco-friendly packaging solutions that minimise our carbon footprint.
In an era where climate change and environmental degradation pose significant challenges, businesses must lead by example. By integrating sustainability into our core values, we aim to inspire a transformative shift across the packaging industry and beyond. Our dedication to using recyclable materials, reducing waste, and promoting green technologies reflects our unwavering resolve to protect the Earth.
Let us all unite on this pivotal day to renew our commitment to the environment. Together, we can create a future where economic growth and environmental preservation go hand in hand. By fostering a culture of sustainability, we not only ensure the health of our planet but also pave the way for a prosperous and resilient world.
As we move forward, let us remember that every small action counts. At DCGpac, we are proud to be part of this global movement towards a greener, more sustainable future.
Piyush Somani, Chairman, CMD & CEO, ESDS Software Solutions Ltd.
World Environment Day calls for industries to embrace sustainable development, with the technology sector leading the charge. At ESDS, we are committed to sustainability through a robust ESG framework and patented energy-efficient technologies. Our Vertical Scaling technology optimises server resources, achieving around 30 per cent energy savings by enhancing performance and efficiency, significantly reducing electricity consumption and carbon emissions. Precision measures such as air conditioning systems, power factor panels, and motion sensors have cut energy usage by 20 per cent in our data centres.
Our commitment extends beyond numbers; by 2027, we aim to connect billions of smart devices, support India’s ‘Make in India’ initiative, and plant over a billion trees. Twelve years ago, we began transforming Ramshej from a barren land into a flourishing paradise, now home to thousands of trees and diverse biodiversity. This self-sufficient community forest, free from harmful chemicals, exemplifies our commitment to land restoration and biodiversity conservation.
This journey towards sustainability cannot be traversed alone. It requires collective action and industry-wide collaboration. As we observe World Environment Day, let us reaffirm our commitment to innovation that fosters ecological sustainability, shaping a resilient future for future generations.
Sukhmani Bedi, Orios Venture Partners
The human race has failed its future generations as far as climate change is concerned. Now it is a near certainty that global temperatures will rise above 1.5 degrees leading to a massive impact on our global population through severe climatic conditions, natural disasters, water shortages and so on.
What is also clear is that there is no single solution and governments across the world will have to implement it to fight climate change. It will have to be a mix of solutions, whether it is increasing the adoption of renewable energy, building flourishing carbon markets, adoption EVs, Building alternate fuels like green hydrogen, water conservation and waste management or circular economy, none of it can be ignored.
I believe VCs can have a disproportionate impact on climate action through funding various technologies. Currently, the conditions are just right for venture capitalists to invest behind climate solutions- growing TAM, increasing commercialisation of solutions and regulatory tailwinds. Together, these efforts and investments can create a comprehensive strategy to mitigate the adverse effects of climate change and secure a sustainable future for the coming generations.
Rohit Jetly, Head of Platform Delivery – Global Platform Solutions; Country Head India, Fidelity International
Fidelity International’s purpose is to work together to build better financial futures with an underlined focus on sustainable, long-term outcomes, together with an aspirational focus on the future. We incorporate sustainability into our business operations and our investment process. We do this for and together with all our stakeholders, including our customers, employees, suppliers, investee companies, regulators and policymakers and the communities in which we operate. We take responsibility for our impact on society as a whole and the environment.
For example, our employee corporate social responsibility committees donate about $1 million a year to local community causes with a strong emphasis on the environment. We have also established a Sustainability Delivery Group in 2020 to lead our Responsible Supply Chain programme that, apart from other things, monitors environmental sustainability.
Another example is our newest office in India, in Bengaluru, which is also LEED Platinum certified. We have made extensive use of recycled materials, green materials, and energy-efficient locally available materials. We have made use of technology like Variable Air Volume (VAV), sensor-based light management system, water-efficient sanitary fixtures and a design that makes optimum use of daylight.
Our Environmental Sustainability framework is designed to ensure pollution prevention, carbon reduction, waste minimisation, responsible use of resources and compliance with legislation through good practice and continuous improvement. We are committed to achieving net zero emissions by 2040 for Fidelity International’s operational emissions, including all scope 1, 2 and 3 emissions we have direct control of. Our focus will be on the reduction of emissions through operational changes and investment in operational efficiencies, on-site renewals and purchasing of renewable energy whilst offsetting those we are unable to eradicate. We are also signatories of Climate Action 100+, a supporter of the Taskforce on Climate-Related Financial Disclosure (TCFD), members of the Institutional Investors Group on Climate Change (IIGCC), the Carbon Disclosure Project, and a partner of the Climate Bond Initiative.”
Jyoti Malhotra, Managing Director, Volvo Car India
The recent heatwave in India is yet another reminder that we need to take care of nature. Within the automotive domain, the road to a sustainable future is undeniably electric, and at Volvo Car India, we are fully committed to this journey. Our vision encompasses not only the creation of safer cars with a sustainable footprint but also ensuring a safer planet for future generations. Our vision is to achieve climate neutrality by 2040 and aim to become an all-electric company by 2030.
Our dedication to sustainable mobility goes beyond just electrification, it also includes the materials we use in our electric cars. By prioritising recyclable materials such as ocean plastic waste, bio-attributed material from forests, recycled PET bottles and corks recycled from the wine industry, we are working towards a positive impact on the environment. Looking ahead, we have set a goal to incorporate 25 per cent recycled and bio-based content in our new car models by 2025.
Jinesh Shah, Managing Partner, Omnivore
On this World Environment Day, we recognise the extraordinary growth in climate tech and sustainability investing, reflecting a pivotal shift towards a greener future. With the urgency of climate action, venture capital plays a crucial role in supporting early-stage innovations and fast-tracking sustainable solutions. At Omnivore, we are bullish on this sector, particularly in agrifood life sciences, sustainable packaging, digital platforms for carbon credits, and advanced farm robotics solutions using AI and IoT. Through our investments, we not only aim to catalyse long-term environmental benefits but also foster job creation and economic resilience, ensuring a thriving planet for future generations.
Neelam Pandita, AVP, ESG Investments, BlackSoil
Blacksoil Capital recognises the critical importance of climate action and is committed to investing in climate tech and sustainability. As the sector witness significant growth and transformation, our investments drive innovation and support startups focused on sustainable solutions. In FY-24, we significantly increased our electricity and sustainable mobility funding to over ₹90 Crores, supporting enterprises tackling climate change. Our portfolio companies have avoided 163k+ tons of carbon emissions by covering 110 crore electric kilometres. Additionally, we invested ~₹15 Crores in emission reduction and water conservation businesses in the last financial year. These companies annually prevent 13,000 kg of PM 2.5 and ~1,300 litres of air pollution and reduce ~40k tonnes of CO2 with their emission control devices. They also save 6 billion+ litres of water with their IoT devices. These investments highlight our commitment to sustainable solutions, fostering environmental and economic benefits, including job creation, economic resilience, and planet preservation for future generations.
