India Green IT & sustainability spend to reach $34 bn: Gartner

India's spending on green IT and sustainability initiatives is expected to reach USD 34 billion in 2014, growing 14.1 per cent over last year, research firm Gartner said today.
The spending stood at USD 29.2 billion in 2013, Gartner said in a statement.
In its report 'Hype Cycle for Green IT and Sustainability in India, 2014,' analysts said Indian organisations are moving beyond corporate social responsibility as a philanthropic activity, via integration with their core business operations.
Eventually, organisational commitment and government regulations will drive adoption of green and sustainable technology and practices in India, it added.
Global environment changes are increasingly challenging Indian businesses to look beyond financial performance and integrate environmental and social concerns into their strategic outlook.

"Most Indian companies have at least one green initiative motivated by the prospect of lower operating costs. Sectors with a significant impact on environment like oil and gas, mining, and other manufacturing related industries clearly lead others in this area alongside the increased use of renewable energy," Gartner Research Vice President Ganesh Ramamoorthy said.

The IT sector where energy and water costs account for a significant portion of the operating costs is not far behind, he added.
Sectors like telecom and TV, and banking and finance lag behind. In terms of actions to address climate change issues, not many companies have a clear focus, he said.

Gartner said awareness among Indian organisations in sustainability, green technology and climate change issues is growing, although there is still a lot to be achieved.
There is a need to reduce operational costs, adhere to regulations and mandatory disclosures and to cater to a growing demand from investors, customers, partners and consumers for reports on the risks related to climate change, he added.