Cement, Energy and Environment

Abstract Present corporate business demands sustainability in any global market, driven by the aspirations of various stakeholders, including financers. Sustainability encompasses all aspects of social and environmental problems to minimize risk handled in the governing and reporting systems to achieve long-term UN goals and targets. The threat of climate change and its impact is a serious global concern. Climate change knows no borders and impacts most poor people around the globe igniting migration. Excessive emission of greenhouse gases into the atmosphere has resulted in global warming. CO2 is the major GHG and the prime reason for global warming, ultimately affecting climate change. The global cement industry is one of the major sources of these emissions. Hence decarbonisation of the cement industry is vital. Despite significant efforts, fully decarbonizing cement production is not feasible, as some process emissions will persist. However, these emissions can be mitigated through additional technologies such as Carbon Capture and Utilization (CCU), in conjunction with other conventional reduction strategies. In the Paris Agreement of the United Nations Climate Change Conference in 2021, India’s Prime Minister committed to achieving net-zero carbon emissions by 2070. Today, a climate emergency is a serious concern. In 2004, the United Nations Global Compact and the Swiss Federal Department of Foreign Affairs released a report titled "Who Cares Wins - Connecting Financial Markets to a Changing World," in which the term "ESG" was introduced. Following this, a working group, including the International Finance Corporation (IFC), part of the World Bank, analyzed the report and encouraged analysts to integrate environmental, social, and governance (ESG) factors into their assessments, linking the financial market to a rapidly changing world. This concept soon became a buzzword in the corporate sector.Today, ESG has taken center stage and is crucial for an organization's ability to create value while promoting global sustainability. More companies are now incorporating ESG goals and missions into their operational strategies and policies.. Hence, a business's future survival may depend significantly on its ESG implementation reporting system. Indian companies are slowly incorporating ESG into their business strategy to avail a multi-trillion-dollar global pool of ESG-driven capital. Integrating sustainability ESG: Imperative for the Indian Cement Industry Dr S N Pati Former Joint Director, NCB Director NICE Consultants 22