“Pṛthivī śāntirāntarikṣaṁ śāntiḥ… śāntir eva śāntiḥ, sā mā śantir edhi” (May there be peace on Earth, in the sky, in the waters, and in all creation…) — Shanti Mantra, Yajurveda. Long before climate negotiations and carbon metrics, Indian thought envisioned a harmonious relationship between humanity and nature. Today, as climate disruptions escalate across the globe, this ancient wisdom finds urgent relevance in our collective quest for sustainability.
At COP26 in Glasgow, India pledged to achieve net-zero carbon emissions by 2070—a bold commitment that reflects not only international responsibility but also a civilizational ethos rooted in ecological balance. This pledge comes at a time when India is confronting rising temperatures, shifting monsoons, coastal vulnerabilities, and mounting pressures on natural resources. With a population of 1.4 billion and a development journey still unfolding, India’s net-zero ambition is both a moral imperative and a policy challenge. It calls for structural transformations across energy, industry, agriculture, and infrastructure—and for a model of growth that is inclusive, resilient, and climate-conscious.
Policy Landscape & Milestones
India’s strategic roadmap to net-zero is anchored in the Panchamrit action plan announced at COP26—five “nectar-like” pledges shaping its decarbonization path:
- Scaling non-fossil fuel capacity to 500 GW by 2030
- Meeting 50% of energy requirements through renewables
- Reducing cumulative CO₂ emissions by 1 billion tonnes
- Cutting emissions intensity by 45% (from 2005 levels)
- Achieving net-zero by 2070
These are further supported by ambitious sectoral initiatives. The National Green Hydrogen Mission seeks to establish green hydrogen as a cornerstone for decarbonizing hard-to-abate sectors such as steel, fertilizers, and transport. In parallel, the Carbon Markets framework, under the Energy Conservation (Amendment) Act, 2022, sets the foundation for a domestic carbon trading system—with voluntary markets expected soon and mandatory compliance rolling out by 2025–26.
The power sector is witnessing rapid renewable expansion, targeting nearly 500 GW by 2030, reinforcing India’s leadership in solar and wind. The transport sector is being reimagined through policies like PM e-Bus Sewa and ₹10,900 crore EV incentives, alongside advances in ethanol blending and LNG-based freight solutions. In industry, pilots like hydrogen-powered trucks in Chhattisgarh are paving the way for greener logistics.
Together, these initiatives reflect a layered, forward-thinking strategy—combining ambitious targets, enabling technologies, market-based instruments, and sectoral transformation—signalling momentum beyond rhetoric.
Corporate Role in Achieving Net-Zero
India’s net-zero vision cannot be realized by public policy alone. The corporate sector must serve as both engine and enabler—driving innovation, capital, and execution at scale. The regulatory environment is already evolving. SEBI’s mandate for Business Responsibility and Sustainability Reporting (BRSR) marks a significant shift from voluntary narratives to structured, auditable, and comparable ESG disclosures. Since FY 2022–23, the top 1,000 listed companies are required to file BRSR. By FY 2025–26, third-party assurance of BRSR Core disclosures becomes mandatory for the top 500 companies, extending to the top 1,000 in FY 2026–27. Supply chain disclosures—currently voluntary—will also enter the compliance fold in this timeline.
BRSR places sustainability at the strategic core—emphasizing emission reductions, energy efficiency, circular economy adoption, and just transition planning. Companies must now assess risks, quantify their impact, and integrate ESG metrics within enterprise risk frameworks.
Indian businesses are stepping up. Reliance Industries targets net-zero by 2035, backed by investments in green hydrogen, solar manufacturing, and circular solutions. Tata Steel and Tata Power are pioneering low-carbon pathways in energy and operations. Mahindra & Mahindra has implemented internal carbon pricing and aims for carbon neutrality by 2040. Beyond legacy firms, a robust ecosystem of climate-tech startups, green finance platforms, and ESG-focused funds is emerging. The private sector is no longer a peripheral actor—it is a co-architect of India’s low-carbon, future-ready economy.
Challenges and Gaps
Despite promising momentum, India’s path to net-zero is fraught with challenges that must be acknowledged and addressed.
Data quality and availability remains a fundamental issue—particularly among mid-sized and unlisted enterprises—hindering transparency and impact measurement. Financing the green transition, especially for small businesses and rural sectors, is constrained by high risk perceptions and limited access to concessional capital.
A significant technology gap persists in sectors such as cement, steel, and heavy transport—areas that demand breakthrough innovation and global collaboration. Inter-state and inter-sector coordination, essential for implementing EV policies, energy sharing, and climate adaptation, remains uneven due to federal complexities.
Perhaps most critically, the just transition challenge looms large. Millions of livelihoods—especially in coal-dependent regions—are tied to carbon-intensive sectors. Without reskilling, social protection, and place-based economic planning, the shift could exacerbate existing inequalities.
To overcome these barriers, India must invest in institutional capacity, promote inclusive finance, and embed equity at the heart of climate action.
The Way Forward
India’s net-zero transition is not a straight path—it is a dynamic, evolving journey that must be navigated with foresight, collaboration, and urgency. The focus must now shift to capacity building, enabling cross-sector innovation, and expanding access to green finance. Strengthening institutional mechanisms for data transparency, third-party assurance, and impact assessment will be key to fostering trust among stakeholders.
Most importantly, the transition must be people-centric. Climate action must not displace—it must empower, ensuring that the most vulnerable are included in and benefit from the green economy. This calls for governance models that are multi-stakeholder, business strategies that are inclusive, and civil society that is engaged and informed. As ancient Indian wisdom reminds us: Dharma is not merely about what is right for oneself—but what is right for the world. Net-zero, then, is not a technical end-point. It is a shared responsibility, rooted in justice and intergenerational equity.
Achieving net-zero is not a task for governments alone—it’s a shared mission for all.
From boardrooms to villages, every hand and voice must join the transition. Together, through collaboration and commitment, we can build a just and green future. Let us rise as partners—for the planet, for the people, and for generations to come.
Dr. K.K. Upadhyay
Professor & Chairperson – Centre for Sustainability & CSR
Birla Institute of Management Technology (BIMTECH)
