Mumbai, Apr 22 (UNI) An ongoing survey, conducted among energy intensive Indian businesses by KPMG, has revealed that issues on Clean Development Mechanism (CDM) and carbon emissions were being prioritized by a majority of the businesses.
''Overall, the Indian companies are in line with the global businesses, and more or less match with the studies conducted in the UK and Netherlands,'' KPMG Associate Director Arun Kumar said. He presented the findings at the ''Energy Derivatives and Emission Trading'' conference, conducted by the Confederation of Indian Industries (CII) and British High Commission, here today.
With 97 per cent of industries considering carbon emission an important issue, the matter of leaving carbon footprints and obtaining a Certified Emission Reduction (CER) is gradually being taken up in Boardrooms instead of letting technical departments handle it.
With the carbon emission and clean technology expected to double in the next seven years, 74 per cent were also studying the opportunities offered by it, while 59 per cent were already looking at the CDM and carbon markets.
Though India is not under any international emission control or regulation, 64 percent of businesses observe that India could be in the forefront of running a clean economy. However, they felt the government should lead the way and that it has not done enough.
On the down side, only 27 percent bothered to analyze their supply chain for carbon footprints, 36 percent reviewed and updated their global supply chain and only 20 percent measured their carbon footprints.
Fear of Green House Gas (GHG) regulation was also the main motivator for Indian businesses to pay attention to the issue. Other factors were awareness of social responsibilities and global aspirations which implied meeting stricter foreign regulation criteria.
According to the KPMG study, EU was likely to lead the carbon emission issue with the US getting more involved. Greater pressure on China and India to confirm to international regulations and involvement of stakeholders due to awareness and pressure are also on the cards.
UNI ZC SR AG1540