Hindalco expands to renewables, zero waste and decarbonisation
India has a unique opportunity to build sustainability without carbonising to move millions out of poverty through circular models that attract value and capital.
Business models, not mandates, will drive India’s circular economy where sustainability constantly improves, says #Amitabh Kant, India’s #G20 Sherpa.
“If companies don’t go green, it will not bode well with their long-term market positioning. With clear and set goals, sustainability can become an integral part of India’s future as the country progresses,” he told delegates an event centred around the theme “India@2030: Scaling Good Growth”.
By embracing solar, EVs, and planned urbanisation for walking and cycling, India can be the only G20 country to achieve climate targets by 2030, added Kant at the event held by Hindalco Industries Limited in collaboration with Norway-based sustainability advisory firm Xynteo.
“India stands at the cusp of an economic rebound today. Realising an equitable and sustainable future now hinges on expanding opportunities through skilling, women’s leadership and financial inclusion,” said Suman Bery, Vice Chairman, @NITIAayog at the event held 22 Feb 2024.
He further added, “With cross-sector collaboration, as seen at The Exchange, India can deliver on its vision of ‘Viksit Bharat’ and be a model for green development.
“I’ve retained the key elements – optimism about India’s growth, the need for inclusive policies, leveraging India’s strengths in tech and manufacturing, advocating for climate justice globally, and the importance of collaborative platforms like the Exchange.”
Satish Pai, Managing Director of Hindalco Industries and chair of Vikaasa Executive Committee, elaborated, “Our role as business leaders is to plant the seeds of sustainability across the entire value chain.
“ESG is a modern term, but at Hindalco, the “S” has been our priority for the last several decades. We care about the people and the society at large that is directly or indirectly associated with us. This has led to many innovative projects that are not only remarkable but a source of constant inspiration for me.
“We’re now expanding under ESG to areas like renewables, zero waste and decarbonisation. This evolution from CSR to ‘CSR Plus’ comes naturally, as our people drive impact once empowered.
“The Exchange marked a significant milestone in our mission to enable equitable growth in India as well as our partnership with Xynteo. We believe business has an obligation to be a force for good.
“The commitments made during the event will catalyse collaboration for change at scale across sectors. It’s all about believing in something, planting the idea, letting the baton pass on to people and watching it grow.”
Xynteo’s Senior Partner Vipul Kumar added, “At Xynteo, we believe business can be a force for good, delivering both commercial and social impact. The key is finding interventions at this intersection, ones with inherent environmental benefits and a sustainable business model, enabling replication and scale.
“We empower leaders committed to driving this change. Multi-stakeholder partnerships are key to systems transformation. No company can create change alone; collaboration is critical.
“Partners must come together across value chains and even competition to solve systemic challenges.
“Finally, we must have patience to try, fail, and persist until transformative solutions emerge. With passion and perseverance, we can move forward each day to build the equitable, net-zero future India wants to see.
“Though the road is long, initiatives like the Exchange are a powerful platform to unite leaders looking to drive this change, and prove no goal is out of reach if we work collectively.”
Insightful discussions, fireside chats, and speaker series captured the many strategies for scaling responsible innovation, empowering MSMEs, advancing net zero goals, advocating circularity, improving healthcare access, bridging the digital divide, and enabling the future of work, among other systemic challenges facing the nation.
Attendees were also invited to take a walk through Xynteo’s multiple commercially viable and scalable impact projects with its partners over the past six years, including revitalising the livelihoods of Kosa silk artisans in Chhattisgarh’s rural interiors to exploring cutting-edge technology to decarbonise last-mile cold-chain logistics.
A highlight of the Exchange was the Marketplace – a curated platform showcasing 25 early-stage start-ups driving high-impact innovations across four key themes: energy and decarbonisation, circularity, sustainable livelihoods, and healthcare. From alternative fuels and clean mobility solutions to technologies tackling plastic waste and advancing health resilience, the Marketplace served as a dynamic hub connecting promising start-ups with investors, corporations and thought leaders.
Beyond start-ups, the space also featured organisations such as UltraTech Cement and Saint Gobain, and Xynteo’s clean hydrogen tech and business accelerator Energy Leap, showcasing cutting-edge technologies in the energy transition and sustainable construction sectors.
Additionally, Xynteo partnered with Grow-Trees.com, affiliated with the UN Environment Program and WWF’s Cities for Forests campaign, to plant a tree for every attendee as a token of appreciation and a commitment to building a sustainable future for both people and the planet.
The Exchange, as an annual flagship event, will continue to convene wider stakeholder groups each year to track India’s progress and deepen cross-sector impact on sustainability priorities, review commitments, take stock of outcomes achieved, refresh targets, forge new collaborations and drive ongoing momentum towards the 2030 development agenda. Fiinews.com
