Indian businesses rank fifth in their concern for climate change: Report

Indian businesses have ranked fifth based on their concern for climate change and Indian companies are more likely to be implementing tougher climate actions compared with their global counterpart, advisory firm Deloitte said in a report on Tuesday.

The Deloitte survey, done across 21 countries during September-October 2021, has found a higher number of top-level executives in India responding to the issue of climate change compared to the survey conducted in January-February 2021.

Deloitte said 2,000 top-level executives participated in the survey, including 163 CXO from India.

“Indian businesses rank 5th in their concern for climate change,” Deloitte’s Global 2022 CXO Sustainability Survey report said.

According to the report, 80 per cent of Indian executives see the world at a tipping point for responding to climate change compared with just 53 per cent eight months ago.

Despite the gravity of the moment, there is a prevailing sense of optimism as 94 per cent currently (compared with 61 percent eight months ago) agree that immediate action can limit the worst impacts of climate change.

“The surge in concern as well as optimism demonstrates that more leaders are cognizant of the need to act now,” the Deloitte report said.

The survey results reassure us that Indian CXOs are taking cognisance and action towards climate change, and the new climate-centric regulations being introduced will help boost accountability.

“The report reveals that Indian companies are ahead of their global peers in identifying those bold actions and making them part of their culture,” Deloitte India partner Viral Thakker said.

According to the report, 80 per cent of Indian executives see the world at a tipping point for responding to climate change compared with just 53 per cent eight months ago. It found that the CXO are more focussed on incorporating climate into their strategies and operations over the next three years.