India Inc.’s Green Challenge
While the electricity sector sees its future as green, others see climate change as a clear and present danger. According to the nonprofit CDP, 39 Indian listed companies put the risk for their business from climate change at a record 7.13 lakh crore. (See graph).
As the chorus around green grows, there’s no doubt that companies have come a long way when it comes to sustainability with the three Rs: reduce, reuse and recycle.
With India set to ban single-use plastic by 2022, companies are looking for ways to reduce and recycle the material. Even though India generates 9,200 tonnes per day of plastic waste, companies subject to the extended producer responsibility clause must recycle all waste.
For example, India’s largest mass-market player, the Gujarat Cooperative Milk Marketing Federation, which has a turnover of 53,000 crore under the Amul brand, consumes 2,500 tonnes of plastic per month. “We use virgin plastic for the milk sachets and sell 30 million sachets per day. Corn [we] making sure that each month we recycle enough plastic to make up for what we consume, ”says Managing Director RS Sodhi.
In the manufacturing space, automotive major Tata Motors manufactures plastic bumpers using 100% end-of-life scrapped bumpers, in addition to removing paints from plastic components and use materials reclaimed from industrial waste for structural components.
Just like plastic waste, water conservation and recycling is another standard operating procedure followed by companies. According to the Observer Research Foundation, manufacturing clusters generate around 13,500 million liters of industrial wastewater per day, but growing players are treating and recycling water as part of their operations.