GreenCo-rated firms to save Rs 2,000 cr in energy, materials

The rating agency says 26 such companies operates in India

GreenCo, the Confederation of Indian Industry’s rating system, on Thursday said that by 2017 there would be about 1,000 GreenCo rated companies in India, with an estimated savings of Rs 2,000 crore in terms of energy and materials.

The industry body which organised CII GreenCo Summit 2014 here today said that India was well poised to lead the global green business movement. The  country already has 26 GreenCo rated companies and over 100 companies were working on this rating. Suresh Prabhu, chairperson, Council of Energy, Environment and Water,  said the GreenCo rating should be extended to the agriculture sector in addition to manufacturing and services.

Addressing the summit, he said there should not be a conflict of interest between economic development and the use of natural capital. “It is easy to stop economic activity but its consequences will be catastrophic. It is necessary is to ensure development with judicious use of the natural capital,” he said.