WEF launches India CEO’s alliance to achieve climate targets

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Davos: The World Economic Forum (WEF) has launched the India chapter of the Alliance of CEO Climate Action Leaders to supercharge India’s climate action and decarbonization efforts.

“Part of the World Economic Forum’s Climate Action Platform, the Alliance will continue efforts to achieve the vision outlined in the white paper released last year, Mission 2070: A Green New Deal for a Net Zero India, on India’s low-carbon transition by 2070” said the statement.

It will bring together the government, businesses and other key stakeholders to achieve the Indian Prime Minister’s ambitious, five-part “Panchamrit” pledge at COP26, which includes the country’s net-zero by 2070 target.

“As a major global economy, India’s role in mitigating climate change is critical and India Industries must add its full weight to the country’s efforts, as well to the global endeavour, against global warming,” said Sumant Sinha, Co-Chair, Alliance of CEO Climate Action Leaders India, and Chairman and Chief Executive Officer, ReNew Power.

A collaboration between the management consultancy Kearney and the Indian think-tank Observer Research Foundation, the Alliance will serve as a high-level platform to support business leaders in planning and implementing plans and programmes to achieve climate targets, including net-zero economic growth.

It will leverage learnings and experiences from global projects such as the Alliance of CEO Climate Leaders and the First Movers Coalition.

“The Alliance becomes part of our comprehensive nature and climate action agenda in India which includes collaborative initiatives such as Trillion Trees, Moving India for rapid electric vehicle deployment, clean energy financing, Food Innovation Hubs, Stakeholder Capitalism metrices and Clean Skies for Tomorrow,” said Børge Brende, President, World Economic Forum.

Calling for global initiative and commitment towards climate change, Anish Shah, Co-Chair, Alliance of CEO Climate Action Leaders India and Chief Executive Officer, Mahindra Group said, “The signs of climate change with varying temperature & weather patterns impacting human lives are clearly visible to all of us. Hence, the global initiative and commitment towards climate change, is indeed a positive sign of hope. We believe that it is absolutely possible for us to achieve 1.5℃ target from the Paris agreement.”

“We at Mahindra, have launched a number of major initiatives – Greening ourselves, decarbonising our industry and Rejuvenating our planet – and believe that we are making strong progress to be Carbon neutral by 2040.

WEF’s Alliance of CEO Climate Action Leaders India is a decisive, collaborative step to scale up our efforts this decade in the race to net-zero. Every step we take together, matters to Mother Earth”, he said

The new alliance could generate annual business opportunities worth over $10 trillion and create 395 million jobs by 2030 worldwide. India alone could create more than 50 million net new jobs and generate over $15 trillion in economic value.

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