Leaders of corporate India at TERI CBS's "Leadership Summit for Sustainable Development 2016" (LSSD 2016) agreed that India is very well placed to be at the forefront to build the world's low-carbon economy. It was emphasized that more ambition and innovative collaboration among businesses, policy makers and financing institutions is required for bringing the low-carbon propositions to scale. LSSD 2016 brought together corporate leaders and multiple stakeholder groups to debate and discuss the need for corporate organisations to usher in urgent commitments to the on-going collaborative movement on climate change via a combination of interventions at the policy, financing and technology levels.

Themed as 'Translating India's NDCs to Business Actions', the Summit received an overwhelming response with participation from 100+ delegates including CBS member companies. LSSD 2016 commenced with a special video message by Shri Prakash Javadekar, Minister of State (IC) for Environment, Forest and Climate Change with his inaugural address on India's commitment to NDCs and the critical role that corporates could play in technology innovation and investments in order to achieve the set targets. Commending TERI's efforts Shri Prakash Javadekar, said, "The government has started walking the talk by initiating actions such as coal cess which has contributed to the Clean Energy Fund. Businesses will now have to do the same. They need to invest and innovate in India, instead of importing expensive technology. There is a need to attract our technology manpower to capitalise on innovation opportunities in India. Working on improving energy, water and emission efficiencies today present a huge business opportunity."

Dr Jaco Cilliers, Country Director, UNDP in India at the inaugural session emphasized on the adoption of Sustainable Development Goals (SDG) and need for SDGs to promote inclusive growth. He also highlighted the need of businesses to review their strategies and the impact they create and how companies can implement sustainability by using sustainable technologies, this will also bring down the cost of these technologies which is currently very high. Dr Cilliers said "Key is integrated way to work towards 4Ps (People, planet, profit, and partnership): All people benefit from development paths; how to sustain profits and prosperity among business, Planets: How do we protect it? , Partnership: these are the key to achieving solutions to developmental challenges. He closed his address with a quote by Nelson Mandela "Little bit of head, little bit of heart will go a long way in solving problems". Underlining the importance of organizing the Summit, Dr Ajay Mathur, Director General, TERI, took the discussions ahead and said "There is an urgent need for the pace and scope of the clean energy activities of Indian corporates to highlight : Innovation. Investments. Collaboration. These three factors need to work in sync for sustainable development. Secondly the businesses need to review their strategies and the impact they create. Moreover ambitious solar tendering programme and investment in tomorrow's technology is the focus. Energy, water and urban development are three areas where investments are most important."

The Summit was attended by senior representatives from government organizations – Ministry of Railways, NABARD, SIDBI and top Indian conglomerates viz. Tata Group, Mahindra Group, NTPC, GAIL and deliberated on major areas of Moving towards Clean Energy ( Renewable Energy & Energy Efficiency) , Climate Financing and the way forward for India Inc post Paris Agreement . As the Summit came on the heels of Signing of the Paris Agreement by India in April this year, when over 160 nations committed to reduce or moderate their greenhouse gas emissions. To take this agenda forward, India has taken up various initiatives, such as Pradhan Mantri UJALA (Unnat Jyoti by Affordable LEDs for All) Yojana, enhancement in solar Renewable Power Obligation (RPO) to 8% by March 2022, Renewable Generation Obligation on new thermal and lignite plants, no inter-state transmission charges and losses to be levied for solar and wind power, ancillary services to support grid operation for expansion of renewable energy etc. In this context, LSSD 2016 provided an opportunity to the Corporate India to share its experiences and current interventions, thereby strengthening India's position with regard to tackling climate change on a global platform.

LSSD 2016's deliberation came to end with valedictory session chaired by Dr Ajay Mathur and special remarks by Mr Ashok Chawla, Chairman, TERI with business thought leaders Mr Ulhas N. Yargop, Director, Mahindra & Mahindra and Mr Venkatesh Valluri, Founder & Chairman, Valluri Technology Accelerators deliberated on 'Way Forward for India Inc. Post Paris Agreement' .The Summit was well received by the audience. LSSD 2016 was supported by Mahindra & Mahindra and our outreach partner All India Association of Industries (AIAI).

The deliberations of the Summit lead to the Business Day of TERI's WSDS (World Sustainable Development Summit) where in corporate India will come together to chart out the action plan. Click Here to know more about WSDS 2016.