Until recently, big corporates did not seem interested in dealing with issues of climate change. Much of their reluctance (and the seeming lack of interest) has been attributed largely to their myopic vision. The reason, many argued, was the focus on short-term profits while ignoring long-term realities. However, with the dangerous consequences of climate change becoming apparent, this situation seems to be changing rapidly.
Most businesses have moved away from a rejectionist view of climate change. However, while many are still limiting themselves to paying verbal obeisance to tackling issues of climate change, there are a few businesses, across different sectors, who are actively reframing and re-innovating themselves as “environment friendly” businesses. There is a phenomenal rise in the number of such businesses.
Such re-branding highlights the complex coincidence of functionality and ethics.
Across the world, businesses are increasingly under pressure from governments and civil society organisations to comply with environmental norms. At the recently concluded COP 26, India has made a commitment to reduce greenhouse gas emissions by 1 billion tonnes by 2030, and to be net zero by 2070.
The promises made by prominent Indian firms to cut down on damaging emissions are a big part of this commitment. It has to be noted that these promises don’t exist in a vacuum. With the rise in the occurrence of environmental disasters, there is a strong chance that civil society will not take kindly to firms flouting environmental norms.
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