Green hope during pandemic

The global target towards reducing carbon footprint, in accordance to the 2015 Paris climate agreement, is thought to be under pressure due to the economic slowdown associated with the Covid-19 pandemic. Infosys, India’s second-largest software company, has declared itself ‘carbon neutral.’ This comes as a ray of hope amidst these unsure times. Companies across the nation need to reduce their energy consumption and transition towards renewable energy. As the first step towards a greener future for India, more multi-million dollar companies and business conglomerates must reduce their carbon emissions to create a sustainable future.

Carbon emissions are the main cause of global warming and climate change. The 2015 Paris Climate Agreement set up a timeline of 2050 for nations to urge their companies to achieve carbon neutrality by limiting their greenhouse gas (GHG) emissions. Infosys, India’s second-largest software company, has declared itself ‘carbon neutral’ way ahead of the Paris Agreement timeline.

Energy production and use account for two-thirds of the world's GHG emissions. With 80% of its energy supply coming from carbon-heavy coal, India is the fourth-largest GHG emitter across the globe. India is also pursuing a low-carbon growth trajectory. It has envisioned 15% of its electricity production coming from renewable energy sources by this year, as prescribed under the National Action Plan on Climate Change (NAPCC). India’s electricity requirement is projected to increase to 1900 Billion units (BU) by the year 2022. These energy constraints, coupled with a slowing economy due to the pandemic, are endangering the nation’s renewable targets.

Reports suggest that around 600 of the world’s largest businesses have set science-based GHG emission reduction targets. DTE Energy, a Michigan-based utility, proposes to reduce their GHG emissions by 45% by 2030. Microsoft has pledged to reduce its operational emissions by 75% by 2030. It has been operating as carbon-neutral since 2012. Oil and gas companies known for their higher carbon footprints are also taking steps to limit their emissions. ‘Duke Energy’ has set up goals to generate electricity with zero emissions by 2050. Net-zero carbon emission is the only option to halt temperature rise beyond 1.5 degree C. GHC emissions also comes with enhanced air pollution risks According to WHO, air pollution results in 7 million premature deaths worldwide each year of which 6 lakh are children.

Infosys is the first Indian company to achieve net-zero carbon emission target as declared recently. The company started implementing policies to combat climate change in 2008. It has been possible because of the Environmental, Social and Governance (ESG) vision of the company that integrates core areas of climate change, technology for good, diversity and inclusion. The company terms this as their ESG vision 2030. The declaration by Infosys details that the company has reduced its total energy consumption by 55% and is transitioning towards renewable energy. By 2020, 44% of the company’s energy demands was supplied by renewable sources.

Infosys intends to reduce its carbon footprint by developing a portfolio of community-based carbon offset projects. These projects will focus on socio-economic development of rural communities, contribute to the UN Sustainable Development Goals and benefit over one lakh rural families. Many other Indian companies are also going for carbon-neutral models. Hyderabad-based Banka BioLoo, Dalmia Cement Ltd and Mahindra group are three more Indian companies that have committed to carbon neutrality.

Infosys’ declaration of going ‘carbon neutral’ is a bright alternative amidst the bleak energy scenario of the nation. Many other Indian companies can target emission reductions. This achievement towards a sustainable future amidst the economic turmoil of the Covid-19 pandemic shows that green goals can be achieved today.

(The writers are, respectively, Assistant Professor and Dean of the Jindal School of Environment and Sustainability, Sonipat)