For India to achieve its aim of becoming a ‘net-zero emissions’ economy by 2070, it is vital for its vast and diverse industry sector to undertake rapid decarbonization while continuing to drive India’s overall economic growth.

As a significant step in this direction, six leading Indian industry houses came together at TERI’s behest on 24th September 2020, and signed a voluntary pledge to cut down on carbon emissions titled 'Industry Charter for Near Zero Emission Ambition by 2050'. Since then a growing number of large-scale companies have endorsed the Charter. The Signatory Companies represent ‘hard-to-abate’ industrial and infrastructure sectors that while high in carbon emissions, are equally critical for India’s economic growth and for the country to become developed by 2047.

The focus on ‘Just Transition’ as part of energy transitions and in view of achieving the Sustainable Development Goals (SDGs) of 2030 was well recognised in the G20 New Delhi Leaders Declaration. Enthused participation from the supporting organizations of TERI’s Industry Charter emphasized that companies have a critical role in advancing a just transition by taking concrete actions that address the social impacts of climate change mitigation and adaptation in partnership with other actors such as workers, unions, communities and suppliers. Given the scale of the climate crisis, there is an urgent need for the private sector to enhance its ambition, commitments and actions for a just] transition to an environmentally sustainable economy that leaves no one behind. Under the aegis of the T20 Task Force 4 ‘Refuelling Growth: Clean Energy and Green Transitions’, TERI in partnership with Thomson Reuters Foundation (TRF) unveiled a Call-to-Action priorities towards mainstreaming finance and investment for a just transition. The Call-to-Action priorities rest on four pillars – Action, Accountability, Amplification and Alignment.

TV9 and TERI collaborated on the third edition of the TV9 Signature Thought Fest—What India Thinks Today—exploring the theme, “India in a New World Order – The Sustainability Imperative.” The event highlighted integrating sustainability into India’s growth strategy by addressing the energy trilemma of security, equity, and environmental sustainability while positioning the country as a global leader in climate action. The high-level panel discussed the pathways to decarbonize these sectors to ensure that India stays on track to meet its emissions targets whilst ensuring economic growth.

India’s ambitious climate goals, including net zero by 2070, underscore its commitment to decoupling economic growth from fossil fuels. To realize the aspirations of Viksit Bharat by 2047, it is important that the medium-term growth outlook of India be assessed in the context of emerging global realities of Geo-Economic Fragmentation and how investments in several sectors, more noticeably in industry sub-sectors like steel and cement are vital for flagship initiatives. Herein, collaborative approaches assume significant importance. Initiatives like TERI’s Industry Charter for Near Zero Ambition by 2050 leverage capabilities of non-state actors to accomplish the goals of a sustainable and resilient planet.

Corporate leaders like Danfoss exemplify progress with initiatives like carbon-neutral campuses and circular product design, while grassroots efforts are critical to ensuring equitable decarbonization for MSMEs and vulnerable communities. Advocacy and collaboration across stakeholders remain essential to charting a sustainable and inclusive low-carbon pathway.

As one panelist emphasized, “Sustainability is about creating a world with zero emissions, zero waste, and zero inequality—a responsibility for the next generation.”

Tata Consulting Engineers Ltd. has made a commitment towards “Engineering a better and sustainable tomorrow”. Under the Industry Charter, it proposes to jointly pursue research and pilot studies in the areas of -

• Hydrogen Economy, i.e. Study and research on Hydrogen based economy with emphasis on green hydrogen production using renewable resources of solar and wind power, biomass, coal bed methane, bio-methane. Use of hydrogen blended with natural gas for energy and heat generation, in Direct Reduction furnace in place of natural gas, in blast furnace for iron making in reduce use of coal, and use of hydrogen fuel cells for energy generation.
• Electrification of Everything Ecosystem, or EEE, which includes use of biomass for electricity generation, Microgrids for various campuses like schools, colleges, large housing societies, remote villages and integration of the renewables to national/state grid, Charging infrastructure for BEV and FCEV and integration with renewable power generation, and Manufacture of battery for electric vehicles in India using recycled battery products.

Apart from the above, TCE is also interested in areas of Bio-based technologies for sustainable generation of chemicals for industrial application and food processing industries, Solid waste collection, handling, management, recycling and waste to energy conversion, Improvement of water distribution networks for reduction of losses using sensors, GIS mapping and host of digital technologies.

Siemens Energy India supports enabling policies that provide a reliable long-term investment perspective and create a global level playing field to accelerate a large-scale deployment of low-carbon technologies:

• Redesign electricity markets to ensure sufficient investments into a sustainable, secure, and efficient energy system
• Make conventional fossil fuel-based power generation more efficient by modernizing them and leveraging digitalization to address key areas of optimization.
• Increase the share of renewable energy and accelerate the switch of the remaining conventional electricity generation to low-carbon fuels
• Use energy as efficiently as possible – not wasting energy is a cost-effective pillar of a low-carbon economy as it reduces the need for capital intensive investments in the electricity sector
• Accelerate the uptake of highly flexible technologies to integrate renewable energies and ensure system stability
• Accelerate the decarbonization of other sectors with sector integration, including Power-to-X applications. Combination of electrification and green synthetic fuel (synfuel) applications especially for the industry and transport sector is required for the decarbonisation of the economy.

Furthermore, these levers will be amplified through digitalization as a new driver towards technological progress and development of new business models.

Under the Charter, Dalmia Cement (Bharat) Ltd is looking to work on renewable energy, including building conducive policy atmosphere for captive renewable power generation; use of industrial wastes for decarbonised circular economy, use of green hydrogen, and electric mobility, Heat electrification, carbon capture and utilisation.

It is also interested in use of bamboo as fuel and conducive policy environment to grow it in waste lands, biofuels, and solar drying/solar calcination, etc

Energy Solutions: Developing hydrogen technologies, renewable integration, and green energy storage to drive India’s low-carbon transformation.

• Decarbonizing Hard-to-Abate Sectors: Supporting industries like aluminium, cement, and energy with energy efficiency solutions, adoption of renewable energy, and circular economy practices.
• Next-Generation Clean Energy Solutions: Developing hydrogen technologies, renewable integration, and green energy storage to drive India’s low-carbon transformation.
• Collaborative Forums: Sharing global best practices and fostering innovation through coalitions to accelerate sectoral decarbonization.
• Leadership in Climate Action: Setting ambitious voluntary climate targets, encouraging industry-wide participation, and inspiring low-carbon pathways for a sustainable future.

Shell’s commitment aligns with the vision of equitable energy access and climate resilience, contributing to India’s energy transition and decarbonization goals.