Ahead of the G20, Indian businesses call for policies to enable a just clean energy transitionWe Mean Business Coalition
Next week, the G20 summit begins in New Delhi against a backdrop of months of climate emergencies across the world, including record-breaking heatwaves, floods and wildfires. The urgent need for global cooperation to combat these escalating impacts of global heating is clearer than ever.
G20 president India has a chance to make this summit a turning point and ensure decisive action for a well-managed and 1.5°C-aligned just transition from fossil fuels to clean solutions. With the country’s presidency followed by Brazil and South Africa, it’s an opportunity to reflect the current realities of the Global South – including the need for technology, climate finance and capacity-building, and ensuring climate action supports social, economic and development needs.
Business is looking to G20 governments to seize this moment. In an open letter coordinated by Climate Group and We Mean Business Coalition, and covered in the Financial Times, leading Indian businesses and companies operating in India have written to G20 leaders with seven key policy asks. Read the letter in full here
They urge governments to adopt credible targets and consistent policies for clean energy, electric vehicles, rapid decarbonization of hard-to-abate sectors and climate finance into their national roadmaps. As JMD and CEO of signatory JSW Steel, Jayant Acharya said: “The climate crisis is urgent and the moment to act is now.”
Other companies which have endorsed the letter include Chalet Hotels, Infosys, Ultratech, Zomato, Citylink, Godrej and Boyce, Tech Mahindra, Godrej Industries, Wipro, ReNew, Sun Renewables, Heineken and IKEA India. In signing the letter, the businesses are reaffirming their own commitment to doing their part. As the letter outlines, they also need government to put the enabling conditions in place to allow further emission reductions – with clear pathways and policies to move from fossil fuels to clean energy solutions.
The outcomes of the G20 Summit in New Delhi will set the scene for the coming months towards COP28 in the UAE. With bold business and political leadership now, we can scale clean energy and end our reliance on fossil fuels.