A study of selected Indian Companies in Climate Disclosures
Abstract
The degradation of environment is one of the most serious issues that are being looked at in the world today. It is all because of the depletion of earth’s natural resources and extinction of species due to pollution in air, water and soil. The temperature of earth is rising because of which glaciers are melting and hence increasing the sea level. Many studies have been conducted regarding this issue and many environmentalists have given their valuable suggestion also. It has been told that there is an urgent need of taking correct measures to avoid such horrific condition. In 2009 “United Nations Climate
Change Conference, commonly known as the Copenhagen Summit, was held at the Bella Center in Copenhagen, Denmark”. Around 115 world leaders attended this conference with a common goal of saving the environment. Recently in 2017 the “Paris Climate agreement” took place. The deal brought together all the world’s nations towards a single agreement that was tackling climate change. Initially the corporate sector was largely involved in polluting the environment. Poisonous wastes and harmful gas emissions are playing a big role in this but after carbon management and “Climate Disclosure Leadership
Index (CDLI) of Carbon Disclosure Project” these corporates have taken many steps to reduce pollution by maximizing efficiencies in the consumption of resources that contribute to climate change. “The Carbon Disclosure Project (CDP)” is an organization which is based in the United Kingdom and it works with stakeholders and corporations to disclose the greenhouse gas (GHG) emissions of major corporations. This CDP in its annual Climate Change Report has disclosed that the number of qualifying Indian companies in 2016 “Climate Disclosure Leadership Index” has increased to 31 which
was 23 in 2015. It means that is an increase of 35 per cent. So, the present study examines the climate disclosures done by the 4 companies i.e. ITC, Tata Steel, Tech Mahindra and Wipro to their investors and how these companies are making proper utilization of their resources to keep the environment healthy. Apart from this the present study will give emphasis on the Climate Disclosure Leadership Index (CDLI) of these companies and their carbon management strategy.
Authors
Ayushi Chauhan, Harsh Sharma