India's Path to Net Zero: Corporate Confidence in Energy Transition Unveiled

A new report by Standard Chartered titled 'India and the Energy Transition' reveals optimism among Indian corporates about achieving net zero goals. Despite limited current engagement in sustainable finance, most businesses plan to increase investments in eco-friendly solutions. The report highlights the critical role of sustainable finance and carbon markets.

A new report from Standard Chartered, 'India and the Energy Transition', reveals significant optimism among Indian corporates that the country will achieve its net zero aspirations. The survey, covering 40 businesses, found 83% have net zero strategies, with 98% planning to increase investments in sustainable solutions within five years.

The report identified sustainable finance and carbon markets as pivotal in driving decarbonisation efforts. Despite current engagement being limited—only 40% use sustainable finance solutions and 32% engage with carbon credits—future outlooks are positive. Approximately 86% of corporates plan to adopt sustainable finance, while 88% intend to enter the carbon credit market.

Corporate strategies also focus on renewable energy as vital for reducing fossil fuel reliance and boosting economic resilience. With power consumption set to rise, the report stresses the need for substantial investment in domestic power generation. Additionally, transport electrification trends show 83% of companies expect electric vehicles to dominate by 2050, underscoring the momentum in India's energy transition.