Corporate social responsibility operates within the three ethical pillars of sustainable development i.e. economic development, social equity and environmental justice. Private sector equipped with CSR as a tool has an instrumental role to play in mitigating the adverse effects of climate change and climate action. While the government has taken affirmative steps, the onus doesn’t lie with the government alone. These affirmative steps and goals must be strengthened by the engagement and tangible actions of the private sector.

Implementation of Sustainable Green Infrastructure

Global investments needed for a clean energy transition by 2050 to limit global temperatures below 1.5° C is estimated to be about USD 131 trillion. Private sector investments play an enormous role in scaling up operations on climate action. Renewables such as solar energy installations, biomass units, and wind farms, are leading the way in cascading the global shift to clean and sustainable energy sources. Corporations can install such solutions within their campuses, and also in the wider society as their CSR initiatives.

Investing & Building Natural Resource Management Structures

Natural resource conservation, especially water, can be taken up as CSR projects by corporations. Water scarcity is a scathing issue of climate change and many cities across India are already witnessing it. Corporations can design CSR programmes aimed at building rainwater harvesting structures, water structure and aquifer restorations etc. Corporations can partner with civil society organisations for effective implementation of these initiatives and also leverage their capabilities for community mobilisation and awareness on natural resources conservation.

Promote Sustainable Agriculture

Agriculture is a water intensive chore and there is scientific evidence that proves that unregulated usage of groundwater for irrigation has resulted in depletion of water resources. Corporations can devise CSR programmes that promote adoption of sustainable agricultural practices which are less water intensive and require less use of chemical fertilisers etc. Adoption of sustainable agriculture will not only improve farm yield and income, but will also enable farmers to combat adverse effects of climate change.

Contribute to sustainable green cover

Trees are one of the most effective ways to sequester atmospheric carbon and enhance the quality of our air, addressing both greenhouse gases as well as the liveability quotient of our urban spaces. Corporations can adopt the bioremedial process of phytoremediation and plant trees with phytoremedial properties to ameliorate the air, water and soil. Phytoremediation is a process that uses specific plants to remove toxic substances from air, water and soil.

Creating a gender inclusive workforce

With energy transition seeing growing momentum and the inclusion of a net zero pledge in India’s development agenda, a sustainable gender inclusive workforce is an imperative for women and men to be gainful recipients of economic growth. Building resilience through upskilling of large workforces can substantially reduce gender gaps in workforce demographics, biased practices, impact on livelihoods and pay disparities. It will be vital to integrate gender-equitable practices across supply chains in green growth sectors.