Never before has the threat of climate change been more daunting. Extreme weather events pose a global climate emergency that calls for colossal efforts from nations, corporates and citizens alike. The climate crisis will exacerbate the challenges of food and livelihood security, particularly in developing countries where agriculture is the mainstay. The vulnerability in rural areas, together with the growing incidence of urban water crisis, intolerable heat, and the threat of rising sea levels will require innovative strategies and decisive action plans. Today, the inevitability of breaching the 1.5°C threshold not only requires the acceleration of decarbonization and mitigation measures but also calls for urgent action on adaptation.
India mirrors the global climate challenges with agriculture and farmers being significantly vulnerable to the vagaries of extreme weather events. It is indeed heartening that the Government of India has spearheaded several initiatives to build a climate resilient future.
ITC has invested significantly to be a future-ready climate-positive organisation. Our operations are spread across the country, including climate vulnerable sites. Several of the Company's businesses depend on agri and forestry-based value chains for sourcing key raw materials. It is our belief that building climate resilience is not only imperative but contributes significantly to enhancing enterprise competitiveness.
This encompasses a host of initiatives including investments in green infrastructure such as green buildings and renewable energy, sequestration through largescale afforestation, climate smart and regenerative agriculture, integrated water stewardship, biodiversity conservation, promoting a circular economy as well as building resilience of rural communities.
To secure our operational footprint from extreme weather events, we have carried out a climate risk modelling exercise at a pan-organisation level to identify and prioritise vulnerable sites. These assessments utilise latest AI-enabled climate modelling tools for projecting the extent of risk from climate hazards related to changes in temperature, precipitation, sea level rise, flooding and other extreme weather events over decadal time frames covering the period till 2100 under various Shared Socioeconomic Pathways (SSPs) scenarios. Based on these assessments, site-specific actions including those for key agri-value chains are being taken accordingly.
We have adopted a comprehensive strategy to pursue a low-carbon growth path by implementing decarbonisation initiatives across our operations and supply chains.
Our extensive manufacturing base including factories and warehouses as well as hotels are exposed to climate change-related risks. We have been working towards enhancing the climate resilience of our physical assets including our third-party sites.
