COP28: A look at sustainability initiatives, green credits initiative

livemint.com:

Narendra Modi before leaving for the world’s biggest climate conference being held in Dubai. During his address at the opening plenary, Modi said India has shown the way forward for countries on how they can strike a balance between development and environment conservation and reiterated India’s commitment towards ensuring a greener planet.

PM Modi also mentioned the Green Credits initiative surpasses the commercial nature of carbon credits. For those not aware, the Green Credits Programme, launched by the Environment Ministry in October this year, is an effort to create a market-based incentive for different kinds of environment-positive actions, not just for carbon emission reductions.

As the first-ever global stocktake takes centre stage in COP 28 for nations to collectively measure the progress or the lack thereof towards curbing global warming or limiting global temperature to 1.5 degrees, it is also important for businesses to take stock of their own contributions. Businesses need to engage in a robust assessment of their climate change mitigation strategies to maximise climate change control impact in minimising climate change.

So, how are Indian corporate houses looking to embrace these changes? For instance, ITC Limited, India’s top business conglomerate, has always been a key advocate of sustainable initiatives. It has exemplified its commitment towards the planet by pioneering innovative sustainable business practices.

Aligned with the pivotal themes of green transition, emission reduction, green energy and green infrastructure of COP 28, ITC's initiatives present a credible response to global challenges that can be emulated by other corporations across the world. Under its ‘Sustainability 2.0’ vision being