A majority of the Indian companies claim to use more fuel efficient vehicles to manage climate change risks. About a quarter of the companies say they are going in for third-party audit of suppliers and partners. The rest say they are opting for nearshoring, relocation of factories, warehouses and their businesses, and asking suppliers to disclose their carbon footprint.
These trends have emerged from the ongoing FE-EVI Green Business Survey. The respondents, numbering 200 companies, were from both manufactruring and services, representing Indian private sector, multinationals and public sector.
Indian private companies? use of more fuel-efficient vehicles (66%) ranks higher than MNCs (57%) and PSUs (36%). Indian private companies (27%) and MNCs (23%) rank implementation of third party audit of suppliers and partners almost at par. PSUs lag with only 8% respondents resorting to the practice of third party audit of suppliers and partners. Regarding increased use of near shoring, PSUs (16%) score over Indian private firms (14%) and MNCs (10%).
Relocation of factories, warehouses and other businesses finds more favour with Indian private companies (16%) than PSUs (12%) and MNCs (10%).
Mandating suppliers to disclose their carbon footprint ranks generally low with all types of businesses. PSUs (8%) lead over Indian private companies (6%) and MNCs (3%), though.
Conducted 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.