Ministers, CEOs to brainstorm at Business and Climate Summit

NEW DELHI: Union Ministers Piyush Goyal, Suresh Prabhu and Dharmendra Pradhan along with CEOs from top global firms and key policymakers will deliberate upon the impact of current business actions on climate change at a summit here later this month.

The Business and Climate Summit, which is being held for the first time in India from August 31 - September 1, will emphasise the future vision around a low carbon trajectory and build on the partnerships needed to scale up and accelerate the low carbon transition.

The Summit was launched in France in 2015. The second edition was held in London in 2016.

"The summit is taking place at a critical time when India is now at the centre of a global debate on the subject of sustainability.

"It is still widely acknowledged that India's trajectory to a low carbon economy when it wards off global warming and induced climate change will need to be balanced even today with the developmental needs of our country," Mukund Rajan, Chairman, Ficci Environment Committee, said at a press conference here.

Key policymakers including Niti Aayog CEO Amitabh Kant and Finance Secretary Ashok Lavasa will share their perspectives on the issues surrounding business and climate at the summit.

Representatives from some top global and Indian organisations will also address the event, including Akzo Nobel, Alstom, Bank of America Merrill Lynch, China Carbon Forum, Essar Oil and European Climate Foundation, among others.

Ficci past President Naina Lal Kidwai observed that a significant number of jobs will be created in the clean and green energy segment and technology and services in low-carbon space, going forward.

She batted for the creation of an ecosystem that enables the private sector to participate in the delivery of public goods and services in a 'for-profit model' and in areas like waste management and treatment.

"We don't want monopolistic practices that cause the citizens to suffer but they (government) have to recognise that there has to be money in it to attract the private sector," Kidwai said.

CEOs from 34 companies are expected to address the summit.