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India has solidified its position as a global leader in corporate climate action, ranking sixth worldwide, with 127 companies committing to net-zero targets under the Science-Based Targets initiative (SBTi), according to the latest report by ICRA ESG Ratings. Despite being responsible for approximately 7% of global emissions, Indian corporations are demonstrating increasing awareness and action toward sustainability.
However, the report points out that high-emission sectors such as power, energy, and cement—contributing 55% of India’s overall greenhouse gas emissions—remain significantly behind in adopting net-zero strategies. Less than 10% of companies from these industries have committed to net-zero goals, highlighting the need for greater engagement in sectors critical to reducing the country’s carbon footprint.
Coal-based power generation continues to dominate India’s energy mix, presenting a major challenge for achieving carbon neutrality. Yet, a promising shift is visible, with many net-zero-committed companies transitioning to renewable energy sources. This aligns with India’s broader commitment to integrating ESG principles into corporate operations and fostering a carbon-neutral strategy to meet global climate goals.
The report underscores the need for government intervention to boost sustainability initiatives. Over 60% of sustainability-focused startups in India have called for increased funding support, reflecting the vital role government and policy play in fostering innovation and enabling a low-carbon economy.
For India to accelerate its sustainability journey, expanding net-zero commitments across high-emission sectors and supporting startups driving climate innovation are key priorities. With increased momentum, India is well-positioned to strengthen its global leadership in ESG and sustainability.
Sources:
https://www.indiabusinesstrade.in/blogs/india-ranks-6th-globally-in-corporate-climate-action-report/
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