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India: Companies increasingly understand that tackling climate change makes business sense

“Indian companies see business sense in tackling climate change”, 24 Aug 2015

…"Understanding that low carbon means more efficient operations is driving industries now," says Santhosh Jayaram, director (sustainability) at KPMG…He adds that…alarming environment and sustainability concerns are increasingly taken note of in the board rooms of the Indian businesses…Last year, for instance, Ambuja Cement was certified as a four times "water positive" company for saving or harvesting four times the amount of water it consumes…In February, nearly 300 companies submitted their commitments to the government to set up 266 GW of solar, wind and other renewable energy projects in the next five to seven years. Later, about 27 Indian and foreign banks committed about Rs 5 lakh crore for these projects. Companies like Nestle, Philips, Unilever and Infosys have committed to use 100% renewable energy for all their operations under 'RE-100' commitment…In India, Yes Bank has become the first such bank to issue green bonds which would be exclusively used to finance climate-friendly business initiatives…