Contact FICCI
India is a laboratory for the World in Just Transition: Jennifer Morgan, State Secretary and Special Envoy for International Climate Action, Federal Foreign Office of Germany
Feb 15, 2023
NEW DELHI, 15 February 2023: Ms Jennifer Morgan, State Secretary and Special Envoy for International Climate Action, Federal Foreign Office of Germany, today said that India's G20 presidency should focus should on climate change and biodiversity.
Addressing FICCI's 7th International Sustainability Conclave, Ms Morgan said India is a laboratory for the World in Just Transition, and collaborative action is needed to finance this transition. She added that binding climate law and accelerated energy transition are some of Germany's recent measures for energy security. "Such measures are essential for all the countries to ensure energy security and nation's safety", she said.
During her opening remarks, Ms Naina Lal Kidwai, Past President FICCI and Chair FICCI Sustainability Council, lauded the government's focus on sustainability and climate change. In addition, she spotlighted the government's emphasis on green growth as one of the priorities for Amrit Kaal.
Ms Kidwai highlighted that the leading companies are beginning to place sustainability at the heart of their business strategies. She said the new sustainability challenges are spurring corporate innovation. The quest for new business opportunities and significant market opportunities are being created in sectors ranging from energy-efficient technologies and solar power equipment to drip irrigation modules, electric vehicles, recycling, waste management, and the shared economy.
Dr Jeffrey Hales, Board Member of the International Sustainability Standards Board (ISSB), underlined the importance of a comprehensive global baseline of sustainability-related disclosure standards, which ISSB is developing. He added that these guidelines would provide investors and other capital market participants with information about companies' sustainability-related risks and opportunities to help them make informed decisions.
Dr Rene Van Berkel, UNIDO, India Country Representative in his address highlighted that material efficiency reduces material cycle emissions and reduces operational energy use, adding to life cycle emission reductions. He said the circular transformation of all economic sectors to combat the man-made triple planetary crisis is the need of the hour. He added resource circularity, efficiency, and substitution would lead to innovation. Dr Berkel emphasised the need to nurture innovation with a purpose in partnerships to support mission-driven innovation.
Mr Baldeo Purushartha, Joint Secretary, Department of Expenditure, Ministry of Finance, Government of India, said India needs a substantial framework to address ESG issues. He highlighted various government policies and initiatives to incentivise green and sustainable growth for energy and other sectors. Mr Purushartha said India-specific ESG should be looked at to deliver sustainable outcomes. He also mentioned that every G20 country is being asked to adopt practices to measure compliance of ESG projects.
Dr Mukund Govind Rajan, Chair of FICCI Environment Committee and Chairman, ECube Investment Advisors Pvt Ltd, said the stakeholder's perspective has now been shaped by more information and data, 'Sustainability is the new digital' and the green transformation will create job opportunities. He highlighted that forward-looking companies had made voluntary commitments to net zero by 2025 and 2030. As a result, there is a growing trend for dedicated ESG committees on the board of such companies.
In addition, 1st edition of the FICCI Sustainable Industrial Practice Award was also announced during the conclave.
Awards List:
- Platinum Award in Small & Micro Industry Category - Aloe Ecell Pvt. Ltd.
- Gold Award in Small & Micro Industry Category - Boon (Swajal Water Pvt. Ltd.)
- Platinum Award in Medium Industry Category - IFP Petro Products Pvt. Ltd.
- Gold Award in Medium Industry Category - TP Renewable Microgrid Ltd.
- Platinum Award in Large Industry Category - Tetra Pak India Pvt. Ltd.
- Gold Award in Large Industry Category - Tamil Nadu Newsprint and Papers Ltd.