71% of polluting firms optimistic of achieving green goals

About seven in ten domestic companies, mostly the polluting ones spanning ten sectors, are confident of meeting their emission reduction goals, pushed by investors as also committed by the government at the last UN summit on climate change, according to a survey.

At the United Nation's 26th Conference of Parties (COP26) held in the Scottish city of Glasgow last November, the government had committed to boosting the green goals further by pushing organizations to reduce emissions.

In a report released on the Earth Day (April 22), the Boston Consulting Group said its survey covered ten sectors -- auto, cement, consumer goods, financial services, oil & gas, manufacturing, metals, power & utilities, professional services, and technology, including feedback from 143 CXOs.

The survey showed that 71 per cent of them are confident of meeting their green goals.

"When it comes to implementing and achieving the sustainability goals, a significant number of the companies said they face steep challenges in the form of technology in meeting the ESG data-related issues like real-time data integration, regulatory challenges such as want of standard regulations, and financial challenges like high cost of technologies and building a competitive cost," Anirban Mukherjee, MD and a partner at BCG India, told PTI.

Only when these roadblocks are resolved through regulatory norms and scalable innovative solutions, can organizations truly implement their sustainability efforts to bring about greater changes in the way they conduct their businesses, he added.