‘Green financing needed to achieve net zero goals’

Hyderabad The Institute of Management Technology (IMT), Hyderabad, in partnership with GEAR, a material handling equipment provider, recently concluded the first edition of Net Zero Summit. The theme of the event was “Net-Zero 2023: Indian Industry Initiatives and Implications (4I).” The underline message drawn from the discussion during the event was that 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 2030 to eliminate India’s energy dependence on fossil fuels.

Speaking at the Summit, Dr Rajiv Sharma, Chief Advisor, Telangana said, “Decarbonization initiatives should be intensified in sectors like steel, cement, transport, power. Moreover, emphasis has to be laid on the need for green financing to fund such initiatives.”

Speakers and delegates, including representatives from the Government of Telangana, Dr Reddy’s Laboratories, Exide Energy, ITC Limited, Greenko, and Infosys, exchanged insights and strategies. Panel discussions and addresses explored the diverse dimensions of Net Zero, from healthcare and pharmaceuticals to manufacturing, logistics, and retail.