Indian industrial giants UltraTech Cement, Mahindra Vehicle Manufacturers Ltd, Mahindra Heavy Engines Ltd and Godrej Industries Ltd and Associate Companies (GILAC) have officially joined the EP100 initiative.
Led by the Climate Group and Alliance to Save Energy, the initiative brings together companies committed to using energy more productively, to lower greenhouse gas emissions and accelerate the transition towards a clean economy. Firms can join either by setting a target to double energy productivity within 25 years, implementing a smart energy management system to slash energy waste or commit to owning, operating or occupying net zero emission buildings by 2030 at the latest. It mirrors the RE100, a collaborative, global initiative of companies committed to running on 100% renewable energy.
India is often accused of being a laggard on climate action and so the fact that some major industrial players have committed to boosting energy efficiency is an encouraging sign.
Will we be seeing more major businesses in the global south join these initiatives? Are these commitments primarily driven by the business case of energy efficiency or climate commitments?