Biz wants incentives to deploy cleantech

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Identify problems for climate funding, India urged

: The FE-EVI Green Business Survey trends have started coming in. Most Indian businesses say that it’s imperative to have government rules and regulations on climate change to enable them to formulate their strategies and want incentives for deploying clean or less polluting technologies. They also feel there is a need to have an independent regulatory body on climate change issues on the lines of Sebi or Trai.

Launched on World Environment day, June 5, by The Financial Express (FE) and Emergent Ventures India (EVI), a leading climate change mitigation advisory firm, the survey seeks to map the greening of Indian businesses, recognise success stories and make recommendations for following a low-carbon and high-growth path.

The first set of responses from metros point to interesting trends. While most businesses from Delhi are in favour of bringing in rules and regulations for combating climate change, businesses from Mumbai believe that at the same time creation of awareness on the issue is a must. Businesses from Chennai think that the media has an important role in sensitising people on the issue.

Similarly, the responses vary from sector to sector. But most respondents across sectors emphasise that they want incentives for deploying clean or less polluting technologies.

The auto sector perceives climate change as a regulatory risk, which may hit businesses in the coming time. At the same time they see an opportunity for new product development and business.

In fact, the chemical industry is already focussing on energy saving tactics like constructing green buildings. They are also factoring in climate change risks while developing new products. In fact, the industry is well-informed and ahead of others in developing a greenhouse gas (GHG) emissions inventory.

The oil, power and gas sector recognises that diversification into renewables like solar and wind energy will be a major business driver in the future and is laying strong emphasis on clean technologies. They are also in favour of developing a more robust public transport system.

Energy-intensive steel and cement companies have gone a step ahead and are using clean development mechanism as a revenue generator. They also factor in climate change and GHG-related risks before venturing into new markets and new products.