Business Day 2016

World Sustainable Development Summit: Business Day 2016

Business Day 2016

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Inaugural Address

Sh. Jayant Sinha
Minister of State for Civil Aviation,
Government of India

Valedictory Address

Sh. Piyush Goyal
MoS (IC) for Power, Coal and New & Renewable Energy, Government of India

Businesses must lead the effort to help reduce poverty, achieve SDGs and accelerate low-carbon development

The Business Day underscored the need for businesses and the private sector to take the lead in poverty reduction and to ensure the rapid and sustained adoption of Sustainable Development Goals (SDGs).

The inaugural session deliberated on the need to find an approach that creates relevant solutions for people at the bottom of the pyramid. This was followed by the first plenary on how businesses must play a pivotal role in the global effort to reduce poverty and achieve the SDGs. There was special emphasis on identifying initiatives with a long-term, sustainable, programme-based approach rather than short-term, project-based initiatives. A longer-term approach, the session noted, would open new opportunities, especially while identifying demand in areas like energy efficiency, renewable energy, water treatment, transportation, waste management and sanitation, where right partnerships, sustainable financing and robust market mechanisms would be crucial.

Mr Jayant Sinha, the Hon'ble Minister of State for Civil Aviation, Government of India, in his inaugural address, said, "Let us take the summit to the real India, for instance to Chhattisgarh, Madhya Pradesh, Jharkhand and Assam, where people are dealing with these problems every day. We must take our solutions to places where the problem is real and give the people a first-hand sense of this. We cannot diminish the scale and magnitude of the issues we are dealing with. We all know the planet is at a risk right now."

The minister underscored the need for interventions that really engage with the issues of sustainability and find scalable solutions that can potentially change the way we live. In this context, highlighting the importance of businesses while seeking solutions, the minister added, "Businesses that innovate are not incidental and, together with the markets they represent, they are going to be the fundamental way we will be able to solve these problems and form the bedrock of a revolutionary behavioural change that's needed."

The second plenary session focused on accelerating the transition to low carbon industries. Mr. Shyam Saran, former foreign secretary, said, "Businesses must become fully aware about the risks posed to them by climate change and environmental crises. Businesses will move to cleaner sources of fuel when we put a price on carbon, otherwise it would be difficult to make this fundamental shift. Growth based on a carbon economy is not sustainable and hence a transition is needed towards cleaner sources energy."

Dr Ajay Mathur, Director-General, TERI, said "For the Paris Agreement to be effective, for you and I to be able to provide our bit to the partnership, we need technology, finance and best practices to be available to all, in a sense cast the net wider beyond. We need to move action from few to most."

The valedictory session of the Business Day was graced by Hon'ble Minister of State Power, Coal, New & Renewable Energy and Mines, Government of India, Piyush Goyal, who said, "For 42 glorious years, TERI has been bringing about consciousness related to sustainability and the World Sustainable Development Summit truly works towards a sustainable future. There is no conflict between economic prudence and sustainable development and businesses today are realizing this - TERI been working on setting standards in this area. Sustainability cannot be a department in any organisation and businesses should not look at it as compliance, but as a self-regulatory mechanism and a desire to contribute. It should not be a small number of people trying to impose rules on a large section and must be ingrained in the organisation. We have to design products that are moving towards sustainability."

Thematic Tracks [10:00AM - 12:00PM]

  • Mainstreaming Biodiversity for Responsible Business - Read more

  • Transitioning to More Efficient HVAC systems with Low GWP Refrigerants - Read more

  • Valuation of Energy Costs in the Indian Context - Read more

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