Most large Indian companies seem to be oblivious about the dangers that climate change may pose to their business and community, according to a study released by the Confederation of Indian Industry on Thursday. In fact, 65 per cent of the 110 top companies did not respond to a questionnaire sent out for the study.
The study has been conducted by the CII, the World Wife Fund for Nature and the Carbon Disclosure Project. The project had been set up in 2000 and provides details about the impact of climate change in companies to institutional investors. This year, it targeted 110 Indian companies, of which 51 are in high-impact sectors.
Of the 39 companies (35 per cent) that responded to the queries, only 15 have assigned a board- or senior management-level executive to deal with climate change issues. Even though the number is low, the study notes that this is a good trend.
However, when it comes to providing details, the companies fall short by a long margin. Only 12 companies reported their energy consumption and only nine reported their energy costs. The study says: “No response from 65 per cent companies to the questionnaire in 2007 makes it clear that an enormous amount of work still needs to be done by Indian companies and investors to catch up with their global peers.”