Sustainability Focuses on Preservation of Nature, Financial Stability, and Social Justice
In a significant address at the 19th Sustainability Summit organized by the Confederation of Indian Industry (CII) on 17 September 2024 in New Delhi, Shri Bhupender Yadav, Minister for Environment, Forest and Climate Change, highlighted the need for sustainability and climate resilience.
Shri Yadav expressed pride in India having achieved 2 out of 3 quantitative NDC (Nationally Determined Contributions) targets of the Paris Agreement nine years ahead of schedule. He stressed that for achieving a dignified life for all, access to energy is basic, and energy is at the core of the global development model.
The Minister called for a shift in the debate from emission management to evaluating the cost of per capita emissions. He also emphasized that sustainability is a social goal, encompassing the three key concerns of environment, economy, and equity.
During the special plenary session, Shri Yadav launched the CII Report on Building Climate Resilience for Indian Industry, which includes a Physical Climate Risk Assessment Framework (PCRAF). The report, developed by the CII, aims to help industries identify risks from extreme weather events and provide guidance on adapting across sectors and regions.
The report recommends strengthening extreme-weather forecasting capabilities, regularly reviewing and updating building codes and regulations, and establishing standards for extreme weather resilience. It also stresses the importance of integrating health and essential services into resilience and recovery planning, and enhancing social resilience to ensure communities can effectively respond to and recover from climate-related events.
Shri Yadav also called upon CII to intensify its work in emerging areas such as sector-specific waste management, increasing the recyclables market, improving access to technology, and building skills for a circular economy.
Mr. Chandrajit Banerjee, Director General of CII, acknowledged the Government's role in making India a significant player in sustainability through innovative and path-breaking initiatives. He also called for the development of a sophisticated AI-based risk assessment tool to forecast extreme weather events and other climate-related risks.
The CII Sustainability Summit, since its inception in 2006, has been a platform for discussions on global regulations, policy reforms, and sustainability practices. The summit this year, themed "CII Sustainability Summit: Driving Change for a Sustainability Conscious World," focuses on tangible actions for driving sustainable change across industries and societies.
The Ministry of Earth Sciences (MoES) is highlighted for developing a public, AI-based risk warning system that identifies risks of extreme weather events and other climate hazards using historical and current data. This system aims to provide early warnings and help mitigate the impact of climate-related events.
In conclusion, the 19th CII Sustainability Summit provided a platform for discussions on sustainable living, climate resilience, and the role of government, industry, and technology in driving change towards a more sustainable future.
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