India ranks among top 3 countries in carbon emissions reporting and reduction: BCG report

New Delhi [India], September 18 (ANI): India has secured a place in the top three countries in carbon emission reporting. Twelve per cent of Indian companies are reporting emissions as compared to the global average of 9 per cent says the Boston Consulting Group (BCG) in its latest report.

India shares the league with Brazil and China in reporting standards as the companies of the respective countries are actively reporting their emissions and on the path of achieving emissions reductions in line with their goals.

The report, titled BCG X CO2 AI Global Report, highlights that at 24 per cent, Indian companies are also ahead in target setting for reporting emissions as compared to 16 per cent of the global average. India is on the path of reducing emissions along a 1.5oC Paris Agreement, with an average of 15 per cent of Indian companies meeting the target as compared to 11 per cent globally.

"India is emerging as a global leader in decarbonization, demonstrating a strong commitment to tackling climate change. With comprehensive emission reduction targets across all emission scopes, Indian companies are not only reducing their carbon footprint but also realizing significant financial benefits," said Anirban Mukherjee Managing Director Lead, Climate and Sustainability, BCG India.

The BCG and CO2 AI's Carbon Emissions Survey was done on 1864 executives who were overseeing their company's emissions measurement, reporting, and reduction initiatives.

The respondents represent 16 major industries across 26 countries and collectively are responsible for approximately 45 per cent of global greenhouse gas emissions. Each organization has at least 1,000 employees and annual revenues ranging from USD 100 million to more than USD 20 billion.

Among the nearly 2,000 companies surveyed in 2024, only 9 per cent described comprehensive reporting. The report suggests that only 16 per cent of companies have set targets across all three scopes, and only 11 per cent have achieved emissions reductions in line with their ambitions.

These figures are all lower than those reported by companies in 2023, as per the report.

"Too few companies are seizing the financial gains offered from decarbonization. By mastering essential foundational actions like measurement, reporting, target setting, and taking advanced steps toward sustainability, these companies can become more efficient, more profitable, and demonstrate a stronger commitment to a greener future," said Diana Dimitrova, a BCG managing partner, and director. (ANI)