Green Economy India  
Build a sustainable economy and environment
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Why a Green Economy?
India is increasingly being looked at as a hub for research and development for green solutions. This is due to its innovation in technology, low-priced manufacturing and services, and traditional knowledge and processes. India has the world’s third largest pool of scientists and engineers and has instilled confidence in the global market through its significant achievements in information technology, professional services and communications in the past decade. The past few years have seen a rise in green innovation and increasing amounts of venture capital is flowing in, with India being rated as the third most attractive country for renewable energy investment. The transition has begun. Indian industry and MNCs have already started looking at corporate environmental impact, due to profitable opportunities, to avoid business risk, because of international investment pressure and their own corporate social responsibility.
If India capitalises upon the potential of its green economy, not only would it promote a more sustainable and cleaner environment, but the Indian economy would see the generation of hundreds and thousands of downstream jobs. India is in a unique position to create a low-carbon green economy. India is on high path of growth. as it is yet to create a lot more infrastructure, services and jobs. It is the choices of Indian business that will shape the outlook of the country; if they choose to incorporate environmental sustainability into their business, although immediate costs may be higher in some instances, they will sustain their business economically.
Furthermore, India can’t afford not to transition towards a green economy. The Climate Disclosure Project says that the business as usual scenario on climate change shows that by 2100 India’s GDP growth will be around negative 9-13% due to the impacts of climate change affecting business, livelihood and hence the economy. Although 2100 is far away, this is not the path for any aspiring superpower. The Indian economy and Indian business will have to transform. Furthermore, consumers and employees are becoming increasingly conscious of environmental issues, which are starting to reflect in their purchases leisure activities. Similarly venture capitalists and investors are becoming conscious of the financial and business risk associated with carbon and environmentally unfriendly practices, and hence are factoring these issues in when making a business investment decision.
Along with the change in stakeholder behaviour, Indian business is quickly becoming involved in international carbon markets. In a matter of years we will see this involvement rapidly increase as India will be affected by a global climate agreement that will put a price on carbon that will affect businesses worldwide. This will pose both an opportunity and threat: for businesses that start accounting for their environmental impact and minimising their carbon emissions, there will be cash to gain, for businesses that lag behind, there will be a price to pay.
Finally shifting to a greener economy creates opportunity for job creation in all sectors and all companies, an opportunity to improve our education system to become more practically focused to suit industry. To make this shift we will need to create jobs in all sectors. Increasing environmental awareness is changing and increasing legislation supporting the environment, which will mean increased environmental litigation, lawyers and policy writers. Growth of global carbon markets will mean increase carbon financial consultants, analysts, financiers, an increase in carbon accountants, business risk analysts and more. A rise in green buildings and energy efficiency is increasing the demand for architects, engineers, technicians, plumbers, construction workers. And a shift towards renewable energy is resulting in increased employment per kilowatt per hour of energy produced when compared to fossil fuel energy, not only in large commercial plants but also in rural villages allowing for decentralised renewable energy systems. There are just a few sectors and jobs out of the hundreds of jobs that will be transformed and created.
At Green Economy India we aim to facilitate Greenjobs, Green education, promote green businesses, and provide training and consulting on the Indian green economy and leadership.
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