TERI Ignites Climate Action at COP28 with IPCC Insights and Industry Solutions for India

Unprecedented panel discussion delves deep into AR6 report, sparking crucial dialogue on inclusive green development

The Energy and Resources Institute (TERI) spearheaded a groundbreaking panel discussion at the Climate Live Pavilion during COP28, delving deep into the Sixth Assessment Report (AR6) by the Intergovernmental Panel on Climate Change (IPCC) and its profound implications for India.

IPCC Chair Prof. Jim Skea laid bare the global climate assessments and their specific bearing on India’s environmental reality. He projected India’s trajectory, offering valuable knowledge to guide the nation’s development course in the face of climate challenges. Underscoring the pressing need for action, the report warned of dire consequences humanity faces without immediate mitigation efforts to curb key climate drivers.

TERI Director General Dr. Vibha Dhawan commenced the session, reflecting on the institute’s long-standing and impactful association with the IPCC. She attributed the integration of “sustainability” into the core of every “TERI-ite” to this enduring partnership. Dr. Dhawan expressed grave concern over rising temperatures, highlighting their broader impact on humanity, particularly vulnerable communities.

Guiding the audience through the IPCC’s findings, Prof. Skea stated:

  • Current policies are likely to lead to temperature overshoot beyond the 1.5-degree target.
  • Global net zero doesn’t imply simultaneous net zero for all countries and sectors.
  • The upcoming IPCC cycle will prioritize equity issues, recognizing that the most vulnerable contribute least to per capita emissions and their vulnerability is exacerbated by inequity and marginalization.

His address was followed by the launch of the report:

  • Practices and Solutions: Accelerating Indian Industry Decarbonisation.

This report, compiled by signatory Indian companies of the Industry Charter for Near-Zero Emissions Ambition by 2050, captures their key achievements and voluntary actions.

An interactive session ensued, with the IPCC Chair and Indian business leaders:

  • Dissecting the AR6 findings’ implications.
  • Deliberating on opportunities for India to adopt an inclusive and green development path.
  • Leveraging India’s strengths, embracing innovation, and adopting climate-friendly approaches.

Industry leaders shared their perspectives:

  • Mr. Satish Pai, Managing Director, Hindalco Industries Ltd: Advocated for exploring nuclear solutions and storage mechanisms for carbon.
  • Ms. Abanti Sankaranarayanan, Chief Group Public Affairs (India & International) and Group Sustainability, Mahindra Group: Highlighted the challenges and opportunities in propelling electric vehicle adoption in India.
  • Mr. Mahendra Singhi, MD & CEO, Dalmia Cement (Bharat) Ltd: Emphasized the profitability-sustainability synergy and Dalmia Cement’s position as a leader with a minimal carbon footprint.
  • Mr. Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel Ltd: Underscored the critical role of public policy, carbon markets, and nature-positive solutions in achieving climate positivity.

The session concluded with a call to action, emphasizing the urgent need for collaborative efforts to drive India’s sustainable development journey.

TERI’s groundbreaking initiative at COP28 has ignited a crucial dialogue, bridging the gap between scientific knowledge and industry action. This collaborative spirit paves the way for a future where India embraces its strengths, harnesses innovation, and charts a course towards a greener and more equitable tomorrow.