Decarbonisation gaining pace but have to learn to survive in hot new world: Sanjiv Puri
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Decarbonisation is gaining currency though the benefits of this will be available only decades later, so we have to learn to survive and do well in the hot new world, ITC Ltd Chairman and Managing Director Sanjiv Puri said on Sunday.
In his remarks at the session on ESG for Business Resilience: A Revolutionary Approach at B20 Summit India organised by the CII, Puri also said that the extreme climate change events that have plagued the world are "here to stay" and the companies in India should fine-tune their strategies in accordance to the climate change that has affected existence.
Extreme weather events are impacting the earth as well as human life and requires a lot of attention, he added.
The ITC Chairman also stressed on the impact climate change has, especially on the Global South.
"This also goes into the design of urban infrastructure and industrial ecosystem.
"This is a dynamic area and will require businesses also to adapt and fine-tune strategies in a dynamic way," Puri said while moderating a session here.
Puri, who is also the Chair of B20 Action Council on ESG (Environment, Social and Governance) in Business said that "this has also been flagged that it is an area, which has been not sufficiently covered through the evolving regulation in the ESG frameworks and it need to be done given the urgency".
It needs value creation activity and power of collaboration and otherwise the cost of funds will become more and more expensive, he added.
"We have seen the manner in which things have changed between 1.1 degrees C and 1.2 degrees C. Extreme weather events are here to stay," he said.
He said that now decarbonisation is gaining currency and a lot of stuff is happening on that front but benefits of that will be available decades later.
"We have to learn to survive and do well in the hot new world," he said, adding that this is also resulting in loss of life as it is putting stress on nature, and agriculture. He emphasised that food and nutrition, and availability of water is going to be a serious issue.
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