Most Indian firms still face key challenges towards net-zero goals: Report

Businesses in India continue to face significant challenges like the complexity of transformation, lack of talent and limited resources in their journey towards net-zero carbon goals, a report said on Monday.

While 24 per cent cite the complexity of the required transformation, 25 per cent point to the lack of talent with expertise implementing net-zero initiatives, and 23 per cent specify limited resources to support the net-zero initiatives, according to the report by Forrester Consulting on behalf of Amazon and non-profit The Climate Pledge.

Over 2 in 3 (71 per cent) businesses in India (and 70 per cent of firms across the APAC region) identify collaboration as critical to clearing these roadblocks and achieving their net-zero carbon goals.

About 63 per cent say the lack of access to peer networks and cross-sector communities is a top challenge impeding climate collaboration.

"The challenges we collectively face on the path to net-zero carbon are considerable and we can't do it alone. Through The Climate Pledge, we hope more organisations in India will come forth and take joint action on projects that drive innovation, technology advancements and policy change to solve the challenges of decarbonisation," said Abhinav Singh, Director, Customer Fulfilment, Supply Chain and Global Specialty Fulfilment, Amazon India.

The study also found that businesses in India seek to accelerate collaboration most in the areas of renewable energy (52 per cent), nature-based solutions (43 per cent) and decarbonising transport and logistics emissions (41 per cent.

According to the study, about a third of businesses in India shared that engaging with ecosystem partners on a strategic level is part of their company's approach to environmental sustainability going forward.

In 2019, Amazon and Global Optimism co-founded The Climate Pledge, a commitment to reach net-zero carbon by 2040 -- 10 years ahead of the Paris Agreement.

The Pledge has grown to more than 375 signatories committed to achieving net-zero by 2040.

--IANS

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