Compendium- Indian-industry action towards Covid-19
Compendium- Indian-industry action towards Covid-19
The CII Climate Action Charter (CCAC) will provide a platform for Indian businesses to map Climate Change as a material risk across value chains and develop long-term actions to build resilience. This platform will facilitate businesses to lead their sectoral climate actions and showcase best practices for addressing climate risks.
The CII Climate Action Charter (CCAC) has been designed to provide impetus for collective action by Indian businesses to drive solutions for a just, equitable and resilient transition. CCAC will provide a platform for Indian businesses to map climate change as a material risk and develop actions to build sustainable and resilient businesses, thus ensuring long-term competitiveness.
CCAC is based on the four principles which will support businesses in addressing climate change risks in their operations. The principles are based on four critical areas.
Develop measurable short term (5 years) and long term targets for GHG emission reduction.
Support value chain in climate transition.
Build resilience for future climate change impacts.
Accelerate green finance for climate transition.
CEO/ MD of the company to sign on the Charter Principles.
Share company's short term and long-term climate commitment Report annually on the progress made towards the commitments.
Modify your commitment based on sectoral approaches and value chain vulnerability.
Support your value chain in mitigating climate risk by developing climate actions assess value chain vulnerability based on CCAC maturity model
CEOs of the organisation to sign CCAC charter to demonstrate the organisation’s commitment towards climate change risks and working on the 4 principles in a sustainable way to address climate change risks in their own business, and across the value chain. Process of joining the charter includes-
The expected benefits of joining CCAC are scale, flexibility, resources, and expertise to achieve ambitious climate goals. Enhancing the businesses to scale its flexibility, resources, and expertise to achieve ambitious climate goals.
To advance towards business support in driving climate action. Creating Sectoral benchmarks on climate action. Supporting the value chain in integrating and defining risks in climate change and sustainability and act on them accordingly.
Mapping value chain vulnerability and defining the climate action commitments. Guiding MSMEs in integrating climate risk, prepare risk mitigation maps and follow a standardized reporting framework follow reporting.
There is an urgent need to
understand the need of industry action and its effectiveness towards building a
pathway to achieve aspirations such as mapping out net zero future, become
resilient, drive innovation, and create growth at the same time, build on interventions on important pillars like -low carbon economy,
circularity, collaborations, and balanced ecosystems.
Moreover, working together
to drive industry towards acknowledging the common but differentiated
responsibilities, understanding the mutual complementarities, and identifying
the levers of action in accelerating towards a sustainable and low carbon
transition.
CCAC will provide a platform for Indian businesses to map Climate Change as a material risk across value chains and develop long-term actions to build resilience. The principles of CCAC platform will help businesses to lead their sectoral climate actions and showcase best practices for addressing climate risk.
Becoming signatory of
CII CCAC is voluntary, and no cost is involved.
The CIICCAC will support signatories through in-house tools developed and validated by Working Group Committee experts to understand the state and dependencies of the company on climate change risk and vulnerability risk index across the value chain and provide a platform for Indian businesses to map Climate Change as a material risk as well as develop long-term actions to build resilience
Four
pillars of the charter include:
a)
GHG Emission Reductions – Measure the
present/baseline GHG emission and develop measurable short-term (5 years) and long-term
targets for GHG emission reduction
b)
Transition in value chain – Identify
risks to which the value chain is exposed and support in climate transition.
c) Building Resilience- Work with the
company’s leadership team to build resilience for future climate change impacts.
d) Mobilizing Green Finance- Help in
framework development of green bonds usage and accelerate green finance for
climate transition. To improve the
identification and management of financial risks related to the climate and the
environment.