As India develops, the demand for key materials is expected to shoot up in the coming decades, placing India at the centre of global growth in energy demand and emissions. The energy choices made by Indian industry today will have longstanding global ramifications for a climate safe future.

As part of its decarbonization agenda for Indian industry, TERI released its report ‘Towards a Low Carbon Steel Sector’ in January 2020. The report highlighted that India’s steel demand is set to quadruple by 2030, and in a business-as-usual scenario (BAU), it will lead to 837 million tonnes of CO2 emissions, which is nearly three to four times the current emissions from the sector. TERI’s report recommended a series of measures to support the growth of steel industry while reducing environmental impact.

Taking forward India’s leadership at the Industry Transitions track at the 2019 UN Climate Action, Summit, TERI facilitated a coalition of leading Indian CEOs to commit to a near zero emissions pathway by 2050. The coalition, starting with six founding signatories, launched an Industry Charter for Near Zero Emissions by 2050 at the Climate Week NYC in September 2020.

Earlier, TERI and We Mean Business, along with a consortium of partners facilitated a group of 20 CEOs, who signed a 'call to action' outlining priorities for repurposing business activity to stimulate green growth and create a more resilient India in the economic recovery required in the wake of the Covid-19 pandemic.