Business Action on Climate Change: A Perspective from the Private Sector

Business Action on Climate Change: A Perspective from the Private Sector

By Shankar Venkateswaran and MUKUND RAJAN
in India in a Warming World: Integrating Climate Change and Development
Edited by Navroz K Dubash
Oxford University Press
2019

This chapter provides a perspective on how the Indian private sector is responding to sustainability and climate change challenges by beginning to embrace the idea of a “triple bottom-line”. It notes that an increasing number of Indian businesses have begun to take actions such as increased sustainability, environmental reporting and adoption of internal actions such as setting emission targets and an internal carbon price. However, the pace is not uniform; large companies with a global footprint, and some sectors like electricity are moving faster than others. While globally, this shift is due to greater pressures from regulators, investors, customers, employees and communities, in India, regulations are the dominant external trigger with civil society action growing in importance. While leadership companies will continue to mainstream sustainability and climate change into their core business, this process will be significantly deepened if other stakeholders -- customers, investors and employees -- also push businesses.

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