Pressure on making climate transition to rise: Chandra

MUMBAI: Tata Group, India’s largest conglomerate, aims to achieve carbon neutrality in its operations as it aggressively rolls out a green growth strategy that includes electric vehicles, hydrogen and renewable energy. “Pressure on making the climate transition is only going to increase … deadlines will only get advanced going forward,” Tata Group chairman N Chandrasekaran said at a CII event, adding that the conglomerate will soon announce its goal towards becoming carbon neutral.

The group has been making a move towards sustainability across businesses. This includes a clean mobility push at Tata Motors and its UK arm Jaguar Land Rover, a green energy drive at Tata Power and a less carbon-intensive approach at Tata Steel.

“The global support for businesses that are based on new energy will receive huge acceptance from all stakeholders and investors,” said Chandrasekaran. Recently, Tata Power and Tata Motors received bigticket investments from foreign investors in their renewables and passenger electric vehicle businesses.

Tata Motors plans to launch 10 electric models by 2025, while its UK arm’s car range will be entirely electric by 2030. On the other hand, Tata Power will not expand in thermal (coal-fired) energy. To meet climate goals, the Tata Group has been investing in high-efficiency technologies, new energy, circular economy and storage solutions, among others.

It also plans to foray into battery manufacturing as part of a broader plan to be “future ready”, Chandrasekaran said. Sustainability is one of the themes led by Chandrasekaran besides scale, simplicity, synergy and speed.