The state of the planet is grim. Carbon emissions are at their highest
levels in human history – the last time the concentration of this
greenhouse gas was so high, the Arctic was ice-free. This is the direct
outcome of unregulated human action. In that context, World Environment
Day is a great opportunity for all stakeholders to take stock of where
we stand and where we must go from here.
The three key stakeholders to saving the environment are
civil society, government and industry – each with its own unique role
to play. But the ultimate responsibility of devising these solutions
rests with industry.
TECHNOLOGICAL POSSIBILITIES
Studies show that Asia has nearly 100 million two and
three wheelers vehicles which still use 2-cycle gasoline engines.
Clearly, this is a challenge. Conversely, it is also a great opportunity
for industry to introduce conversion kits to LPG or CNG, perhaps even
low-cost quadricycles. Similarly, leading companies with innovative
water management programmes are showcasing how by introducing new
irrigation techniques they not only helped reduce the strain on the
environment but also incrementally increased their profits.
The three stakeholders need to consider the growth requirements of our country vis-à-vis the challenge of sustainability.
LEGAL ISSUES
The Indian economy has benefited from substantial
deregulation in the last 22 years – considerably reducing poverty and
improving lifestyles. However, environmental challenges, too, have
increased manifold. Many antiquated laws have only been incrementally
improved to suit the new governance order.
We must find innovative approaches to environmental
governance in India. This would require moving beyond the conventional
‘do no harm’ approach to a more proactive ‘do good’ approach.
Unfortunately, the country’s current environmental regulations come
under criminal laws that imply a ‘prohibit and punish’ regime instead.
Under criminal law, companies are either subject to compliance or
non-compliance but extent of compliance is not considered; consequently,
there is lack of any incentive for businesses to go beyond compliance.
Industry, civil society and government should work
together to evolve solutions to environmental challenges in a concerted
and coordinated manner. A joint task force should examine current laws
and identify outdated regulations with a view to bringing them in line
with current industry models. Industry can extend this initiative to
State governments as well. For example, India does not have a single
location for waste segregation and urban waste is fast becoming a
problem as the number of million-plus cities grows rapidly.
Performance assessment or evaluation for determining
environmental impact and identifying solutions is a must for
enterprises. Not only does this help align the firm to environmental
regulations, it also offers a chance for reducing costs by minimising
waste and introducing more efficiency into processes.
RENEWABLE ENERGY
A CII-Boston Consulting Group study on Indian
manufacturing identified green products as the next big area of
potential opportunity for the sector. It estimated that a quarter of
cars sold in 2020 could be electric vehicles. The solar energy market is
expected to grow 9 per cent annually till 2017, while other renewable
energy markets are also growing. There are huge opportunities in green
buildings, water related products and biofuels, composites and advanced
materials, nanotechnology, artificial intelligence, or fuel cells.
Indian companies can establish the current ‘green
baseline’, identify and assess risks to business. The government is
already working on developing Green Public Procurement Guidelines which
can offer new opportunities, once in place.
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