Collaborative efforts to rein in climate change impact sought

Speakers at seminar call for accelerating the transition to low-carbon and climate resilient infrastructure

The need for collaborative efforts between businesses, governments and civil society to reduce the impact of climate change was highlighted at a seminar the Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised here on Wednesday.

Coming in the backdrop of decisions at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow, Scotland, the seminar had as speakers environmentalists, industry leaders and a former IAS officer. FTCCI president K. Bhasker Reddy said India, at the COP26, had committed to Net-Zero emission by 2070 and to meet 50% of its energy demand from renewable resources by 2030. “In this backdrop, we realise that collaborative efforts across businesses, governments and society are needed to reduce the devastating effects of climate change. Sustainable transformations should be aimed for a better future for our planet while also strengthening business performance,” he said.

A release from the trade and industry body said environmentalist Donti Narasimha Reddy, addressing the seminar, underscored the need for a fundamental shift globally in the finance system and a massive increase in private finance for accelerating the transition to low-carbon and climate resilient infrastructure. Environmentalist and Osmania University professor K.Purushottam Reddy said the climate change conference commitments have only enhanced the significance of corporates undertaking their activities in a socially responsible way.