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Mumbai, Nov 10: At a time when companies are cutting corners amidst the global economic slowdown, India’s largest private sector group, the $60 billion-plus Tata Group, is in the process identifying opportunities within more than 60 operating companies where it could develop green technologies or devise ways to contribute to sustainable development. As a first step, the group has decided that all its future buildings will be ‘green’ buildings, although this would mean a nearly 15-20% more investment. JJ Irani, executive director, Tata Sons, who heads the green initiative in the group, told FE, “We have taken the decision that all our future buildings will be ‘green’ buildings." The move to go green will start with future projects, “as it is more expensive to retrofit, but much easier to develop the new ones," Irani added. Apart from this, the group will take steps to conserve energy and reduce emissions of greenhouse gases.
The company has started working on an international basis to trace the group’s carbon footprints, and is engaging the services of consultants like McKinsey and Ernst & Young for the purpose. “We must know where we are, first," says Irani, adding, “We have established a starting point, and now we will examine the mitigation process." The company will start with five major firms that together contribute 80% of the group’s carbon emissions - Tata Chemicals, Tata Motors, Tata Steel, Tata Power and Tata Consultancy Services (TCS).
Tata Sons is a member of the Global Leadership and Technology Exchange (GLTE), a business consortium set up by Xynteo, the Anglo-Scandinavian advisory group, to facilitate the creation of growth solutions for the low carbon economy. The consortium, apart from the Tatas, include Gazprom, General Motors, Wilh.Wilhelmsen, Det Norske Veritas, Deutsche Bank, World Trade Centres Association and StatoilHydro and Yara.
Says Osvald M Bjelland, chairman, Xynteo, “We are seeking a constructive way to tackle climate change, which is a challenge across countries and companies.”
The commitment, he says, is to bring senior leadership into the discussions, develop a three to five year perspective, and identify practical projects that will lead to change. Lord Oxburgh, former chairman of energy giant Shell, an expert on climate change, added, “Although we have seen a lull in oil and gas prices, the 21st century will see ambient energy prices. The higher cost of energy will bring about a rethinking and reengineering in processes.” That, he said, will drive the climate change...
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