The question of climate change could be casting a shadow all over the world but in India, companies are yet to take an active role in tackling the menace. But that doesn?t mean they are not aware of the issue.

A recent KPMG study on climate change to find out how Indian firms are responding to the issue finds an overwhelming 83% of the respondents claiming to have a fair understanding of the problem.

However, just under half of them said they did not have a clear strategy in place to tackle the issues.

The report shows 41% of the respondents indicate they have at least some quantified goals for carbon reduction to be achieved by 2010 while a a significant 38% have no goals. The report also brings to light the lack of appreciation of the tools and capabilities required to contain climate change.

The most widespread measure that businesses engage in or plan to employ in order to tackle climate change is the usage of energy-efficient appliances (94%), followed by educating and training employees on environment friendly practices (77%).

A lot fewer businesses are engaged in other primary drivers of emission reductions. Only 29% of firms review and update their global supply chain to achieve energy efficiency and merely 25% have discontinued high energy services.

The report on climate change looks to assess the preparedness of India Inc towards this global phenomenon. The study also attempts to understand the Indian business leader?s appreciation of the climate change context, its implications for the economy and their businesses along with their readiness to respond to the impending change.

A total of around 70 business leaders at the CEO/CXO level were interviewed for the study. The principal ambition of ?KPMG?s Global Green Initiative? will be to reduce the member firms combined carbon footprint by 25% by the year 2010 from a 2007 baseline, through emission reduction schemes and the use of renewable energy in its member firms.

Speaking on the release of the report Arvind Mahajan, national industry director, energy, infrastructure and government, KPMG, said ?Developing countries like India and China are under increasing international pressure to undertake measures to limit their aggregate emission levels. While the government on its part has recently announced the national action plan on climate change, the onus is now on private businesses to do their bit?.

?Merely good intentions with regard to environment awareness are not enough, what is needed is a structured and measurable plan. The first step to the process is measuring the current carbon footprint. Secondly, companies should seek to benefit from opportunities brought by climate change. For instance, the global market for low carbon energy efficient technologies is estimated to be $3 trillion by 2050,? Mahajan added.

Global awareness on climate change is far greater. Most companies in the developed world have measured and announced their baseline carbon footprint, and also their reduction targets over 5-10 year periods. KPMG is committed to addressing climate change first and foremost, by acting as a good corporate.