IMT Hyderabad, in collaboration with Virtusa, Greenko Group, and IIT Hyderabad hosted the second edition of the Net Zero Summit 2024 today at IMT in Shamshabad
The summit focused on the theme “India’s Net Zero 2070 Goal: Progress, Pitfalls, and Possibilities,” exploring the country’s journey towards achieving net zero GHG emissions target by 2070. With insights into key sectors like power, agriculture, chemical, IT/ITES, and circular business organization this event discussed the intersection of economic growth and environmental sustainability.
Giving his keynote address virtually Jayesh Ranjan, the Special Chief Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government said our Prime Minister Narendra Modi announced a net zero by 2070 target at COP26 in 2021. This commitment India avoided for many years. And we were criticised for the same. But, for a change it was committed by none other than the Prime Minister. Being a head of the nation he must have had his calculations and expert advice to make that commitment based on the performance levels of various states in India.
But in the case of Telangana and some other states, it can achieve this much earlier. Though there is no official word from the Telangana Government so far on this based on some back calculations which we have done I can comfortably say that Telangana can achieve Net Zero status by the year 2047, which also happens to be the 100th year of India’s Independence. I am saying this based on some back calculations, Mr. Jayesh Ranjan said. If Telangana achieves Net Zero status by 2047, it will be a big milestone he added.
Speaking further he added that I am saying this because we have been running Haritha haram for the past ten years. Tree plantation happened prior to that. We have rejuvenated many of our lakes. We have announced the Cool Roof Policy, EV and E Mobility Policy etc. All of these initiatives will certainly make Telangana a Net Zero State, one of the few in India by 2047, which is much earlier than India committed to becoming Net Zero.
The summit commenced with ceremonial lamp lighting by representatives from IMT Hyderabad, Virtusa, Greenko, and IIT Hyderabad. This was followed by a welcome address delivered by Prof. (Dr.) Sriharsha Reddy, Director of IMT Hyderabad. Prof. (Dr.) Tulika Sharma, Assistant Professor of IMT Hyderabad and Prof. (Dr.) Sourabh Bhattacharya, Professor & Chairperson of the Centre for Sustainability and CSR of IMT Hyderabad introduced the theme of the event. The inaugural speech was delivered virtually by Mr. Jayesh Ranjan, IAS, Special Chief Secretary for Industry, Commerce, and IT and I&C where he focused on India’s commitment to achieve Net Zero by reducing carbon intensity by 33-35% from 2005 levels by 2027. Dr. Krishna Yedula, Vice President at Virtusa, also addressed the gathering focusing on Virtusa pioneering the sustainability journey. Additionally, a special technical session was conducted by Dr. Paravastu Rambabu, Advisor at Greenko Group where he focused on choosing the right way and methodologies to build a Net Zero India.
Huge investments in green technologies are needed to achieve Net-Zero emissions by 2070. It is estimated that $160 billion is needed each year till 2027 to eliminate India’s energy dependence on fossil fuels. Prof. (Dr.) Sriharsha Reddy, Director of IMT Hyderabad focused on the initiatives taken by the institute within its campus to achieve sustainability by making 20% of energy consumption via solar panels and 90% of the campus covered under the green carpet. The summit aimed to foster transformative dialogue and collaborative action, bringing together industry leaders, policymakers, and experts to address the challenges, assess the progress, and explore the opportunities in India’s pursuit of its ambitious Net Zero goals. The summit featured three key panel discussions.
The first-panel discussion, moderated by Prof. (Dr.) Kalyan C Chejarla, Associate Professor of IMT Hyderabad, featured Mr. Sucheth Davaluri (Neuland Laboratories), Mr. Prashant Tiwari (Amara Raja Group), Wg Cmdr Srikanth Balagandhar (CRE Consultant), Mr. Sharfoddin (Cognizant) and Ms Priya Badshah (Invesco). They drove the audience's attention towards India’s Net Zero 2070 goals.
The second-panel discussion, moderated by Prof. (Dr.) Debraj Bhattacharyya from IIT Hyderabad offered valuable insights on sectoral approaches to achieving Net Zero. Esteemed panellists included Dr. S P Kamath (Bayer), Mr. Sandeep Chatterjee (IBM), Prof. (Dr.) Subrahmanyam Ch. (IIT Hyderabad), and Mr. Utsav Dixit (ALPLA), who shared their expertise on the topic.
The event proceeded with a keen discussion on Circular Business Models led by speakers Mr. Naman Gupta (Code Efforts), Mr. Chandan Sharma (Goonj), Mr. Rajkiran Madangopal (Banyan Nation), and Ms. Vishala Reddy Vuyyala (Milletbank). The discussion was facilitated by Prof. (Dr.) Sourabh Bhattacharya, Professor at IMT Hyderabad.
The summit concluded with a vote of thanks from Prof. (Dr.) V.C. Chakrapani, Dean of Academics at IMT Hyderabad. Attendees praised the event for its impactful discussions and commitment to fostering a sustainable future.
IMT Hyderabad is committed to being at the forefront of sustainable business education, preparing future leaders to tackle global challenges with innovative and responsible solutions. This event promises to be a milestone in the continued dialogue on sustainability, creating actionable pathways for industries to contribute to India's Net Zero vision.
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