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Bisleri will share its findings with the central government to facilitate discussions and develop a framework, advancing the concept of water credits for the beverages industry. The proposal is aimed at making beverage makers more accountable towards water usage.
Mumbai: Packaged water maker Bisleri is looking to introduce water credits akin to carbon credits, aimed at making beverage makers more accountable for water usage.
The company has partnered TERI School of Advanced Studies to conduct a study that would set a benchmark for the beverage industry's commitment to water conservation.
The study assumes significance given that several large beverage makers have been criticized for extracting water from water stressed areas. Several companies now report initiatives to replenish water used during their manufacturing process.
Green credit for water conservation
Bisleri said it will share its findings with the central government to facilitate discussions and develop a framework, advancing the concept of water credits for the beverages industry.
“The water sector can generate green credits through water conservation, water harvesting, and water use efficiency, including treatment and reuse of wastewater," the company said. This will be similar to how companies buy credits to offset their emissions.
"This report is about proposing a model to the government—they can use and craft it. So, we are requesting the government to set up a platform as quickly as possible, similar to carbon credits, using this as a template," Angelo George, CEO, Bisleri International said in an interview.
Water savings need localized approaches
The study aimed to review national and international practices and policies in water trading, water credits and fiscal instruments and develop a methodological framework to estimate water footprint of a production unit. The study also tested and estimated the water footprint of two production units of Bisleri in two distinctly different terrains.
Unlike carbon emissions, water savings require a localized approach, factoring in variables such as rainfall and consumption at a watershed level, it said.
Problem of water scarcity
In India, 11 out 15 major river basins will be water-stressed by 2025, with per-capita annual water availability below 1,700 cubic meters, according to data from the Council on Energy, Environment and Water, a New Delhi-based think tank.
Bisleri’s move also comes after the government notified a Green Credit Program (GCP ) in October, 2023. The CPG is a market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies. In its initial phase, the CPG will focus on two key activities i.e. water conservation and afforestation. However, there is no official platform yet that permits trading of green credits in India.
Those in the beverage industry said that while the idea is novel, it could face challenges in implementation. “This is a responsible way for the industry to be more water-efficient, although several large companies are already replenishing water they use," said a senior executive in the beverages industry, speaking on condition of anonymity.
Additionally, ground water usage in India is already governed by various national and state-level rules that restrict the amount of water companies can draw for industrial and commercial use.
For instance, bottled water companies must obtain necessary No Objection Certificates (NOCs) for groundwater extraction and then undertake measures for groundwater replenishment. Packaged water units are also penalized for going above the minimum quantum of ground water withdrawal. Rates of ground water abstraction charges for packaged drinking water units vary in safe, semi-critical and critical assessment units, per rules laid out by the Central Ground Water Authority. However, companies also use other sources such as surface or municipal water—tariffs on which are different.
Others said the move is largely aligned to step up sustainable and environment-friendly practices followed by companies.
"If companies are able to follow efficient water use practices and earn credits their processes will be considered more environmentally friendly, because they are going to reduce their water footprint. Moreover, internationally, their product will have more acceptance, because you're contributing to environmental conservation. Third, is that it also reduces regulatory and reputational risk for organizations, said Nitin Bassi, senior programme lead for the sustainable water team at the Council on Energy, Environment and Water (CEEW).
However, Bassi warns that creating a baseline water footprint for the industry may have its challenges given the scale and scope of a given water unit. Smaller water units may be at a disadvantage when it comes to assessing their water footprint as their technology may not be at par with those deployed that large companies. "Additionally, while undertaking such projects, validating claims in the long-run becomes a challenge," he said.
Read MoreGuwahati, April 30: A two-day-long ‘Exposure Visit Programme’ for CBSE School Principals has successfully culminated here today at the University of Science and Technology Meghalaya (USTM) where 34 school principals from various renowned CBSE schools from across the country participated.
The visit has been organized by the Central Board of Secondary Education (CBSE) in collaboration with USTM from 29th to 30th April 2024. The program has been supported by the Department of Skill Education, CBSE under the Skill Education sector.
Addressing the school principals in an interactive session today, Mahbubul Hoque, Chancellor of USTM said that the role of a school principal is multifaceted and essential for creating an environment where students can thrive academically, socially, and emotionally. He welcomed all the participants and said that USTM is always open to extending all kinds of support to uplift school education.
In the inaugural session yesterday, Prof GD Sharma, Vice Chancellor of USTM welcomed all the school principals and said that the National Education Policy 2020 has emphasized on Skill Education to become integral to School and Higher Education. Accordingly, CBSE has envisioned promoting Skill Education from Class 6th onwards in all its affiliated schools. He said that an added benefit of such an exposure visit is that it gives the principals a chance to meet other like-minded school leaders, share stories, and gain a lot in the process.
Speaking on this occasion, Dr Jagadish Barman, Jt Secretary, CBSE Centre of Excellence Guwahati said, “This Exposure Visit is expected to leverage the synergies between schools and Higher Educational Institutions and create a positive platform for cohesive interaction in the future learning ecosystem.”
These Principals may, in turn, mentor the teachers of schools in their neighborhood thus, unfold unlimited opportunities for educator empowerment, he added.
In this context, Prof Amit Choudhury, Dean, School of Technology and Management at USTM said that this year CBSE has selected USTM for principals’ exposure visit apart from six other institutions including TERI School of Advanced Studies New Delhi, Indian Institute of Technology Gandhinagar, Asian Academy of Film Television Noida, Indian Institute of Technology Tirupati, Whistling Woods International Mumbai, and Indian Institute of Management–Raipur. The resource persons from USTM were: Dr E Karim, Dr Azmol H Barbhuiya, Dr Monalisa Bora Deka, Dr Alika Borgohain, Dr Baharul Islam, Dr K Aye, Dr S Gazi, Dr Nitu Borgohain, Dr Deboja Sharma, Dr Moutushi Das, Dr Mehjabin Rahman, Dr Papiya Dutta, Dr Palme Borthakur.
Dr Nirmaljit Singh Kalsi, Chairman, National Council for Vocational Education and Training took an online session on “Up-scaling of Skill Education in line with NEP 2020”. Several sessions took place on both days.
The participating schools in the program were Christ International School Bangalore, Mahavir Senior Model School Delhi, RS Jhunjhunwala International School Gujarat, Poddar International School Maharashtra, Manipal School, Brahmani Public School Odisha, DPS Ahomgaon Guwahati, Faculty HS School North Guwahati, Sharada Vidyaniketan Public School Mangalore, Kendriya Vidyalaya No.1 Kunjaban, KV NFR Maligaon, Ideal English Senior Secondary School Manipur, Livingstone Foundation International, PM Shri KV Khanapara, Holy Brook Sr. Sec. School, North East Public School Udalguri, Army Public School PRTC Bangalore, SBOA Public School Guwahati, The Priceton School, Sree Swami Vivekananda Higher Primary School, Kendriya Vidyalaya NEHU Shillong, Army Public School Shillong, SJ Patel Eng School Gujarat, Delhi World Public School Haryana, Jnana Ganga Central School, Dr. M Ramanna Shetty Memorial English Medium High School, Kendriya Vidyalaya ONGC Agartala, Kendriya Vidyalaya Assam University, Kendriya Vidyalaya Aizawl, Buhai School Sikkim and Kingcup Public School Itanagar.
Read MoreIPCA Centre for Waste Management and Research, TERI SAS, in collaboration with India Development Service (IDS), USA, organised an international conference on ‘Solid Waste Management for Good Health and Wellbeing’ on 1st March 2024. Several experts from medical services, NGOs, urban local bodies, and recyclers participated in the event. While delivering the keynote address, Deputy WHO Representative to India Ms Payden emphasised that “health sector alone cannot address the issues faced by communities associated with waste management sector, inter and intra-sectoral collaborations is the key and the involvement of people and communities stands important”.
Prof Arun Kansal, Vice Chancellor, TERI SAS, emphasised the need to synchronise the aims of waste management, pollution control, and a healthy, sustainable, and thriving community. Focusing on waste management for health in many ways leads to the definition of purpose for engineers. Health brings in a critical human element to waste management schemes, which is as crucial as trucks and infrastructure. Dr Prasad from the University of Colorado presented a case study mapping health care along solid waste supply chains. Dr Venkatesh from Karlstad University, Sweden, presented his extensive research on ragpickers in India.
Participants organised themselves to deliberate on community health and waste management, New imperatives for waste management policies and regulations, Fiscal measures, and stakeholder roles.
Mr Ashish Jain, Founder Director of IPCA, thanked participants and summarised the need for an integrated community-based approach through effective intersectoral coordination where waste management for health leads to the definition of purpose for Engineers in municipal bodies.
Read MoreDate | News Title | Source |
02-June-2024 | Bisleri proposes water credit ... | Mint (Online) |
30-April-2024 | Principals from CBSE schools a... | The Shillong Times (Online) |
02-March-2024 | International Conference on So... | Skilloutlook (Online) |
28-February-2024 | Rising medical costs is eating... | Deccan Herald (Online) |
29-January-2024 | Padma Shri for Kurseong man Dr... | The Statesman (Online) |
08-September-2023 | G20 & Climate Change & Action:... | Online |
16-July-2023 | Trans Yamuna area of Delhi has... | Jagran (Online) |
11-June-2023 | Surya Foundation dwara Rashtri... | Uttam Hindu; Page No. 05 |
07-June-2023 | Hurdles on the way. Why India ... | The Hindu Businessline (Online) |
23-April-2023 | Subsidence in an Indian town r... | The Japan Times (Online) |
Indian firms have difficulty adopting ESG frameworks specific to their industry.
While India is catching up with developed countries when it comes to ESG disclosures, many companies are facing certain challenges in meeting the norms specified by SEBI under the Business Responsibility and Sustainability Report (BRSR) disclosure format.
While SEBI has mandated the top 1,000 listed Indian entities by market capitalisation to disclose their ESG risks and responsibilities as well their approach in mitigating the same the BRSR, many are struggling to comply.
Shruti Sharma, Assistant Professor and Consultant for Business Sustainability and Strategy, TERI, SAS, said, “Most of the companies are not designed with ESG integrated into their core strategic vision. It is practiced as compliance or an obligatory requirement.”
Supply chain disclosures
A key challenge being faced by companies are the norms related to supply chain disclosures. “If India must do its business globally it has to integrate ESG in the supply chain. However, there are a number of complexities associated with ESG disclosures for supply chain. In India, a number of supply chain partners are small, unlisted firms. It is difficult for such companies to track and report on a large number of ESG metrics. This is due to lack of awareness, readiness, and financial strength of these MSME (Micro, Small and Medium Enterprises),” Sharma added.
A survey by Deloitte India revealed that only 27 per cent of Indian organisations feel adequately equipped to meet their ESG strategy and compliance requirements, while a mere 15 per cent believe their suppliers are prepared to comply with their organisations’ ESG mandates.
Does BRSR prevent greenwashing?
Another concern that arises is the greenwashing among companies to get a higher ESG score. For example, valuation guru and Professor of Finance at the Stern School of Business at New York University, Aswath Damodaran, recently wrote in a blog post that the Adani Group learned to play the ESG game well, creating an entire ESG universe to underpin its companies, and exploiting the green bond market, presumably for its green energy business.
Inderjeet Singh, Partner, Deloitte said, “The BRSR itself has been a well-crafted document, providing enough opportunities to the participating 1,000 companies in making responsible disclosures. Reasonable assurance of BRSR Core will result in the application of accounting principles such as ISAE 3000 which will ensure the review of data by an accredited agency/statutory auditor. This should reduce the chances of greenwashing to a large extent.”
Does the BRSR have a ‘One Size Fits All’ approach?
Indian firms have difficulty adopting ESG frameworks specific to their industry. The list of ESG parameters currently do not provide a comprehensive and accurate idea of the ESG scores in differing industries. “SEBI has not issued the detailed list of KPIs for BRSR Core (around 49 indicators) yet. A fair analysis will be possible once the list is made available, yet a common yardstick approach may present some degree of challenge. For example, product recall policy is important in a B2C business which may not be of great relevance in a B2B setup as such requirements are covered at length in the purchase orders itself,” said Singh, adding that while companies are ready to augment their competency, there is lack of talent and availability of technical competency in the market.
An ESG scorecard released by Crisil in 2022 showed that the performance of companies on the environmental parameter (‘E’) was weaker compared to social (‘S’) and governance (‘G’). In India, only one in five companies reported their Scope 11 and Scope 2 GHG emissions. The disclosure of Scope 3 emissions was even worse. 63 out of 586 companies published this data.
Future approach towards ESG
“Data collection and disclosure is the principal challenge. Also, how their disclosures will be interpreted by competition and their downstream value-chain partners is another challenge. ESG is the new yardstick for retaining the “preferred supplier” position. This is very clearly visible in B2B play. Companies need to take up capacity-building initiatives across their facilities and consider digital solutions to improve data collection and reporting,” said Singh.
(The write is interning with businessline’s Mumbai bureau)
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