‘Most conventional firms now pledge net zero strategy to fight climate change’

IIM Sambalpur director Mahadeo Jaiswal said COVID-19 has paved the way for new realities.Data analytics, machine learning, artificial intelligence, and blockchain are changing the landscape of the traditional practices that the industry has been following all these years, Jaiswal said.

Chief guest at IIM Sambalpur business conclave Kapil Maheshwari Saturday said most of the conventional companies now pledge 'net zero' strategy to fight climate change. Net-zero refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere. Speaking at the sixth edition of the annual business conclave 'Marmagya 6.0' organised by IIM Sambalpur, Maheshwari said "Driving future profits and still caring for the environment is the way forward." Kapil Maheshwari is president of the renewable energy and green hydrogen ecosystem development in Reliance Industries.

Noting that the next ten years will witness a great transformation for all B-school students or new-generation business leaders, Maheshwari said "It's a great opportunity to learn and figure out new business models". The theme of the two-day meet which commenced on Saturday is 'Business in New Reality'.

The conclave aims at understanding the responsibilities and opportunities in the post-Covid scenario. IIM Sambalpur director Mahadeo Jaiswal said COVID-19 has paved the way for "new realities".

"Data analytics, machine learning, artificial intelligence, and blockchain are changing the landscape of the traditional practices that the industry has been following all these years," Jaiswal said. Keynote speaker Pradeep Panigrahi, head of corporate sustainability at Larsen and Toubro, said a thorough check on carbon dioxide emissions must be taken up by all companies to stay in business.

Highlighting that "decarbonising" the investment landscape was the key for the future of humankind, Panigrahi said, "We must take cognisance of this situation and act on it at the ground level".

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