New Delhi: A group of 131 CEOs global alliance For climate action According to a report by the World Economic Forum (WEF), representing some of the largest companies from 27 countries, including India, their total emissions are expected to decline by 10% between 2019 and 2022, while their revenues will decline by 18% during the same period. A total increase of Rs. Which shows that economic development and climate activities can go hand in hand.
The report, released on the sidelines of the United Nations General Assembly in New York on Thursday, said overall revenue growth of 18% was more than $640 million, surpassing global GDP growth of 15%, while emissions reduction 10% was equivalent to 450 megatonnes, roughly equivalent to the annual emissions output of France or the United Kingdom.
The Alliance is the world’s largest CEO-led community focused on net-zero emissionsRepresents $4 trillion in revenues and 12 million employees in 12 industries, including healthcare, retail, heavy industry and agriculture.
Tata Steel, Renew Power, Hindustan Zinc, Mahindra Group, Infosys and Wipro are among the Indian companies in the Coalition of CEO Climate Leaders, launched with the signing of the Paris Agreement on climate change. CEOs of big tech multinationals like Microsoft, Dell, HP, Bloomberg LP, Ericsson and Hitachi are also part of the group.
“The alliance is showing that businesses can collectively make significant progress toward implementing the goals of the Paris Agreement,” WEF quoted Sumant Sinha, president and CEO of Renew Power and co-chair of the alliance.
Underscoring that the economics of climate action can work across all sectors – from emerging markets to developed economies, Sinha said, “We hope these results will really help us build our knowledge and capacity for the transition to a global, net-zero “We will encourage more businesses to join us in implementing the skills.” An economy that benefits communities around the world.”
The report notes that a 10% reduction in absolute emissions is well ahead of the emissions reductions achieved by the world’s largest economies and emitters, including the United States (-2%) and the European Union (-3%). In contrast, India and China saw emissions increase by 6% and 7% respectively over the same period.
“This clearly demonstrates that positive climate action should not come at the expense of economic performance,” said Jim Huay Neo, Managing Director of WEF.
