Corporate Net-Zero Pathways: Science-Based Targets and Decarbonization Strategies Aligned with India’s 2070 Climate Vision

Abstract

With the growing threat of climate change and the growing pace of mitigation measures developed by nations, corporations are becoming increasingly important in the realization of national and international climate agendas. The decision to achieve net-zero greenhouse gas emissions by 2070 committed by India has triggered a rising trend of corporations now turning to the use of science-based targets (SBTs) to match business strategies with climate science. The paper discusses how corporate decarbonization can facilitate a long-term net-zero target of India, in particular through the adoption of science-based targets, operational changes, and value-chain involvement. Science-based targets are a plausible, quantifiable outline of the way to cut down emissions by tying corporate effort to the tracks in accordance with lowering the world warming to strongly less than 2degC, and hopefully not more than 1.5degC. The paper emphasizes that it is necessary to support the policy, report transparently, and collaborate with other sectors in order to make corporate climate action scalable. This is due to the fact that by aligning science-based targets with priorities in national development, corporations not only reduce climate risks but also increase competitiveness, resilience and long-term value creation. The results indicate that the corporate leadership on decarbonization is critical to close the gap between the current emissions trend in India and its net-zero target in 2070, which contributes to the role of the private sector as a major facilitator of sustainable and inclusive development.

Keywords: Corporate Decarbonization, Net-Zero Emissions (India 2070), Science-Based Targets (SBTs)