Despite wide awareness about climate change, Indian corporations are not ready to tackle this issue, says a study by global consultancy KPMG released on Wednesday.
An overwhelming 83 per cent of the respondents claimed to have a fair understanding of climate change issues. However, just under half of them said they have a clear strategy in place to tackle these issues.The recent KPMG report is an attempt to assess the preparedness of India Inc towards this global phenomenon.The study attempts to understand the Indian business leaders’ appreciation of the climate change context, its implications for the economy and their businesses, and their readiness to respond to the impending change.
The global awareness on climate change is far greater. Most companies in the developed world have measured and announced their baseline carbon footprint, and also their reduction targets over five to 10 year periods.
KPMG said the case with Indian businesses is rather dismal.
While 41 per cent of the respondents indicated having at least some quantified goals for carbon reduction by 2010, a significant 38 per cent of the respondents have no goals whatsoever.
The report also brings to light the lack of appreciation of the tools and capabilities required to contain climate change.
The most widespread measure that businesses engage in, or plan to engage in, to tackle climate change is the usage of energy efficient appliances (94 per cent), followed by educating and training employees on environment friendly practices (77 per cent).
A lot fewer businesses are engaged in other primary drivers of emission reductions. Only 29 per cent of firms review and update their global supply chain to achieve energy efficiency and only 25 per cent have discontinued high-energy services.