India ranks 6th globally with 127 Net-zero firms

03 Jan 2025 Editorial Team

India has secured the sixth position globally in corporate climate action, with 127 companies committing to net-zero targets under the Science- Based Targets initiative (SBTi), according to the latest report from ICRA ESG Ratings.

Although India contributes approximately 7 per cent of global emissions, its corporate commitments reflect a growing awareness of climate concerns. However, high-emission sectors such as power, energy, and cement are lagging in adopting these goals.

The report reveals that fewer than 10 per cent of firms in these high-emission sectors, which contribute to 55 per cent of India’s overall greenhouse gas emissions, have adopted net-zero targets.

It also highlights that coal-based power generation remains dominant in the country’s energy mix, although a shift toward renewable energy is evident among companies with net-zero commitments.

The cement sector is addressing emissions by adopting alternative fuels like biomass and integrating carbon capture technologies.

In the metals and mining sectors, companies with net-zero commitments have shown higher adoption of sustainable practices, although progress remains inconsistent.

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