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‘Businesses are using the word “low-carbon” quite often,
which is a great development – it is not considered a taboo anymore… Climate
change may also be looked at as a business opportunity… India will surely
surpass the set target of emissions reduction (20%-25%) by 2020… The country
has potential to be the world leader in environment technology… Alternate
energy is one of the immediate solutions for environment concerns… We have to
overcome the legacy issues of dated machinery… The ministry will continue to
be strict with environment violators… Every individual must do his bit for
environment conservation…’

These have become the ‘pet’ lines of environment minister
Jairam Ramesh and were also a part of his address at the inaugural session of a
conclave on Business and Climate Change, held in New Delhi on Tuesday.

The minister stressed that for sustainability of not just
businesses, but also of the entire human race, we have to look at climate
change as the biggest challenge. He also highlighted the fact that India, due
to its geography and diversity, is highly vulnerable to natural calamities occurring
due to climate change.

In the same session, Mark Kenber, CEO of The Climate Group, presented
numbers that highlighted the opportunities in the ‘green’ products and services
industry.

Kenber claimed that until the next decade, the market for
environmental goods and services in India has a growth potential of $137
billion, while the world market potential is poised at $2.2 trillion. Kenber stressed
that these figures in million dollars create vital economic prospects for
businesses in being environmentally and morally responsible. This presents a
great opportunity to add to their bottom lines apart from the moral
responsibility.

The event was organized by CII-ITC Centre of Excellence for
Sustainable Development in partnership with WWF-India and Carbon Disclosure Project.
It was supported by the British High Commission. About 100 individuals
representing corporate groups, government bodies and civil society
organizations participated in the conclave.

Check this space for
more highlights from the conclave.