Indian Corporations Urge G20 Nations to Tackle Climate Change
The Climate Group and the We Mean Business Coalition coordinated an open letter to make the appeal.
Chalet Hotels, Infosys, Ultratech, JSW Group, Zomato, Citylink, Godrej and Boyce, Tech Mahindra, Godrej Industries, Wipro, ReNew, Sun Renewables, Heineken, and IKEA India have all signed the letter.
Businesses have emphasized the critical need for global collaboration to combat escalating climate change ahead of the upcoming G20 summit in New Delhi. The letter emphasizes the importance of government action and long-term policy clarity, which will allow businesses to boldly commit to comprehensive climate action.
Climate Group India’s executive director Divya Sharma said: “As the impacts of climate change are increasingly being felt, it’s encouraging to see some of the world’s biggest businesses calling on the G20 leaders to ensure that this G20 truly becomes a turning point for climate action.”
Under India's G20 leadership, the letter urges the G20 to drive change that is consistent with the Paris Agreement and responsive to the needs of the Global South.
The letter makes several government recommendations, including phasing out unrestricted fossil fuels in accordance with 1.5°C targets, achieving power grid decarbonisation by 2035 in advanced economies and 2040 in emerging economies, and developing clear plans for difficult-to-decarbonize sectors such as steel and concrete.
The businesses also advocate for accelerated EV deployment across segments and equitable access to climate finance for the Global South, including the achievement of the long-overdue $100 billion per year climate finance target. They also support transparent carbon pricing and the repurposing of fossil fuel subsidies by 2025.