Author(s): Anand Acharya and Shruti Sharma Rana
As the climate crisis deepens, the term Net-Zero has gained significant traction in recent times as it calls for action from major economies and organizations around the world. As a result, over the past few months, Global, Indian companies are announcing their plan of action to become net-zero emission companies by 2050, or sooner. For achieving this they are making a significant shift in their strategy as to how they operate and what they produce. There is a need to decarbonize the carbon intensive sector companies to limit the temperature rise and reach the Net Zero target of the India. This paper depicts that the improvement in targets and their implementation is required in the following areas: having executive board-level leadership on sustainability and climate, setting up long-term, science-based targets, and engaging in sustainable finance. Although almost all the companies are considering alternatives like afforestation, renewable energy, and energy transition they also need to consider solutions like green bonds, carbon credits, battery energy storage, and carbon capture utilization and storage (CCUS). This paper aims to analyze and compare their Net Zero journey and suggests some improvements.