New Delhi, Aug 26 (UNI) Dr Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited has urged the Government to ask companies to include their carbon footprint in financial reports from the next financial year.
At the same time, she has demanded that tax credits should be given to companies to cut carbon emissions while penalising increased emissions.
Companies that process and reduce effluents could be provided eco-credits that can be traded for lower electricity tariffs, said Dr Mazumdar.
Her suggestions came while delivering the the 7th Darbari Seth Memorial Lecture at TERI held last week.
These suggestions were part of a five-point plan she proposed for India to break free of dependence on fossil fuels, reduce carbon emissions and achieve a clean environment.
Dr Mazumdar wanted making the energy mix more balanced so that by 2050, the country uses equal amounts of fossil fuel, hydel sources, biofuels, nuclear energy and solar and wind power instead of the current 65 per cent dependency on fossil fuels.
She also advocated creation of centres of excellence in research in seven critical areas ranging from bio-fuels to energy creation from solid urban waste and using enzymes by investing Rs 1,000 crores over the next five years.
Moreover, the Government should boost entrepreneurship in the area of renewable energy, she added.
Dr Mazumdar said biotechnology held the key to solving the nation's problems in dealing with carbon emissions and spiralling energy costs.
She emphasised that innovative use of biotechnology, like algae held great promise. ''Algae can be the cheapest source of biofuel that is easily produced, which can help in reducing pollution in various industries like chemical, textile, detergents etc,'' said the expert.
Dr Mazumdar was selected for delivering the prestigious lecture because of her innovation and significant contribution to the field of biotechnology as she brought the biopharmaceutical research conducted by Biocon Limited into the everyday lives of people and created a viable and profitable business out it, TERI said.
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