UNGCI discusses sustainable finance and investment
Outcomes in India will determine the outcomes of the world as the world’s most populous nation has become the fastest growing economy and preferred investment destination, says Hardeep Singh Puri, Minister of Petroleum & Natural Gas.
He also underscored, “If India succeeds, Sustainable Development Goals (SDGs) will succeed. And if the SDGs are to succeed, India has to succeed.” https://sdgs.un.org/goals
Addressing the UN Global Compact Network India’s (UNGCNI’s) 18th National Convention in New Delhi, Puri highlighted the remarkable progress made by India in achieving SDGs in last decade
Puri inaugurated UNGCI’s 18th National Convention on 23 Feb 2024. The one-day convention, themed “Advancing Sustainable India: Driving Change with Forward Faster 2030,” had various sessions covering topics such as accelerating climate change action, advancing water resilience, fostering prosperity through sustainable finance and investment, and promoting living wages for economic empowerment.
In the midst of global challenges, India’s approach to sustainable development shines brightly, said Puri.
Despite the vast financing gap in achieving sustainability goals, he said, India has been proactive in mobilising resources and implementing impactful initiatives.
Referring to the outstanding journey of ethanol blending in country, he said, “Outstanding progress is being made in achieving our target of 20% blending by 2025-26, bringing it forward from original target of 2030.”
The Government is building ecosystem for emerging technologies such as battery energy storage systems, green hydrogen electrolysers, e-mobility, and waste-to-energy through manufacturing incentives and innovative financing policies.
India’s net zero target of 2070 will be achieved before the deadline, Puri underlined.
Acknowledging the contribution of impactful Corporate Social Responsibility (CSR) initiatives in pushing the SDG agenda forward, he called on companies and businesses to create a meaningful change by incorporating sustainability in their operations.
He mentioned the example of ONGC which has integrated sustainable practices into its core operations to enable a reduction in Scope-1 and Scope-2 emissions by 17% in the last five years of its operations. Fiinews.com
