From Green Buildings to Net Zero: CII–IGBC’s Green Building Congress 2026 to Shape India’s Sustainable Future

As India’s built environment expands rapidly, Green Building Congress 2026 will bring the country’s growing green-building ecosystem with government, industry, finance, and global sustainability leaders to accelerate the transition to a low-carbon future.

The CII --Indian Green Building Council (IGBC) will host the 24th edition of its annual Green Building Congress (GBC) from 26–28 November 2026 at Jio World Convention Centre, Mumbai

. As world’s premier event on green and net zero built environments, themed “Forging a Sustainable Future – Do Good, Feel Good. Building Greener Worlds Together,” Green Building Congress will bring together government, industry finance, academia, and the global green building community to explore how India can accelerate green-building adoption and scale solutions for a low-carbon, climate-resilient future.

India’s green building ecosystem has grown significantly over the past 25 years. IGBC now has 20,000+ registered projects covering the world’s second largest green building footprint of 16.33 billion sq. ft. Till date, the Green Building Congress has welcomed more than 2 lakh participants, reflecting the growing scale of the movement and the role of GBC.

C Shekar Reddy, National Chairman, CII --Indian Green Building Council, says, “India is at a defining moment in its development journey. We are building new cities and infrastructure that will shape the country for decades to come. The question before us is not whether we should build, but how responsibly we can build. Sustainability must move from being a specialized conversation among experts to becoming a fundamental part of every development decision.For 25 years, CII–IGBC has worked to build this consciousness across governments, businesses, professionals, and citizens. Green Building Congress brings this collective responsibility together, providing a platform for stakeholders to share knowledge, collaborate, and turn intent to action. I invite every stakeholder to join us at GBC 2026 and be part of India’s journey towards healthier, more resilient, and sustainable places for generations to come.”

AR Unnikrishnan, National Vice Chairman, CII --Indian Green Building Council, says, “The next phase of India’s green building journey must be about moving from commitment to scale—from individual projects to transformation across cities and infrastructure. This requires stronger collaboration between industry, government, finance, technology and academia, alongside wider adoption of high-performance and net-zero solutions.Green Building Congress 2026 will bring together the ideas, innovations, and partnerships needed to accelerate this transition and connect global knowledge with solutions that are relevant, scalable, and impactful for India.”

The 2026 edition is expected to bring together 3,000+ delegates, 10,000+ business visitors, 150+ thought leaders and 100+ institutional and industry partners, alongside a Green Building Expo. Last year’s edition recorded 1,000+ B2B meetings, 8,000+ delegates and visitors attending the 3-day event, reflecting GBC’s growing role in enabling knowledge, green innovation, and industry collaboration.

Concord Control Systems and NTPC Join Forces for the World’s First 3100 HP Hydrogen Locomotive, Setting New Global Benchmarks in Sustainable Rail Mobility

Representative Image

Concord Control Systems Limited (CNCRD), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, today announced their plans for developing the world’s largest 3100 HP hydrogen-fueled locomotive propulsion system through their wholly owned subsidiary Advance Rail Controls Pvt. Ltd (ARCPL). This milestone represents a historic breakthrough in sustainable rail mobility, a step towards the future of freight and the development of next-generation railway engines. The announcement came right after ARCPL bagged the prestigious work order valued at ₹47 Cr. from NTPC Limited, India’s largest integrated power utility company. Concord Control Systems, through its subsidiary, ARCPL and in collaboration with Railway Engineering Works, is excited to win this opportunity.

NTPC has been leading the Green Hydrogen space for India, and this hydrogen-fuelled locomotive project is a flagship project of its kind. This is the first time a diesel locomotive will be converted to a 3100 HP hydrogen-powered locomotive, marking the highest-ever horsepower diesel locomotive conversion globally to hydrogen-based propulsion. This initiative is being undertaken for the first time not only in India but also worldwide, placing India at the forefront of heavy-duty green locomotive innovation.

With this milestone, India becomes the first nation globally to attempt hydrogen propulsion at such high horsepower, far surpassing the earlier global benchmark of 1,600 HP for hydrogen rail systems. Importantly, Concord’s propulsion system is not a laboratory prototype, but a commercially deployable solution designed for freight scale operations, targeting to demonstrate hydrogen’s real-world viability for heavy-duty rail transport.

Speaking on the announcement, Gaurav Lath, Joint Managing Director, Concord Control Systems Limited, said, “At Concord, we are proud to pioneer the world’s first 3,100 HP hydrogen locomotive propulsion system for the Public Sector giant NTPC on this nationally significant green hydrogen initiative. As a research-backed railway technology company, our conviction is to push the boundaries of innovation, and our promise is to deliver propulsion systems that meaningfully advance the global journey towards zero emissions. Hydrogen-powered locomotives represent a decisive step in creating future-ready, sustainable railway starting in India, aiming for the world.”

In addition, Nitin Jain, Joint Managing Director, Concord Control Systems Limited, said, “This landmark project represents a significant step forward in India’s clean mobility journey. The development of a high-horsepower hydrogen and battery-powered locomotive underscores the strength of indigenous engineering and cross-sector collaboration. We are proud to work with NTPC as our customer to deliver a solution that supports India’s decarbonization goals while setting new global benchmarks in sustainable rail technology.”

Commenting on the successful award of the Hydrogen Locomotive project, Dr. Ritwick Ghosh, at NTPC, said, “This is a dream realized as a Mechanical Engineer and a passionate hydrogen enthusiast, building from a conceptual thought to a project award. The project will also solve the hydrogen off- taker deficit. This is also the moment where we see how Public Sectors make a difference in developing the country’s infrastructure in energy transition by taking a step beyond the regular limits and how private sectors support things through taking risks. I am now excited to see how we go from Paper to Track.”

The initiative links itself with the vision of Union Railway Minister Shri Ashwini Vaishnaw, and aligns with Indian Railways’ ambitious target of achieving net-zero carbon emissions by 2030,placing India decades ahead of its national 2070 net-zero commitment. It also strongly supports India’s broader focus on decarbonisation, green energy adoption, and sustainable transportation infrastructure.

Globally, the announcement comes at a time when the European Union is targeting climate neutrality by 2050, the United States is working towards net-zero rail by 2050, and countries including Japan, Australia, Brazil, South Africa, Indonesia, and China are advancing hydrogen and electrified rail pilots. India’s move into high-horsepower hydrogen locomotives positions the country not merely as a participant, but as a global technology leader in zero-emission heavy rail.

Beyond domestic impact, Concord’s breakthrough opens a new chapter in global expansion, with the company aiming to partner with countries actively committed to net-zero transport, including the European Union, Japan, Australia, the Middle East, Africa, and North America. From hydrogen- and battery-powered propulsion systems to advanced locomotive electronics and subsystems, Concord is well-positioned to contribute to the world’s clean mobility transition.

This NTPC–Concord project reinforces India’s standing as a hub for next-generation railway innovation under the Make in India initiative, while unlocking future export opportunities for hydrogen-powered locomotives. Together, the project emerge as key enablers of India’s clean energy, clean mobility, and climate commitments, reshaping the future of zero-emission heavy-duty transportation at a global scale.

About Concord Control Systems Limited:

Concord Control Systems Limited (CNCRD) is India’s leading manufacturer of embedded electronics systems and critical electronic solutions supporting India’s next-generation rail infrastructure. CNCRD is an RDSO-approved OEM and technology leader delivering advanced electrical and electronic systems for Indian Railways. Aligned with the government’s Gati Shakti initiative, Concord leverages state-of- the-art R&D, testing, and manufacturing facilities to deliver products that meet global quality and safety benchmarks, while ensuring zero- defect production and environmentally responsible practices.

CNCRD is a trusted partner in India’s railway modernization and digital transformation journey aspires to step in railway technology on a global scale, expanding its footprint and tapping international markets. Its portfolio of robust, durable and high-performance systems is tailored-made for the extreme conditions of railway environments. CNCRD is shaping the future of mobility by anticipating emerging railway challenges and transforming them into opportunities through tech-enabled, innovative solutions.

Tata Power, LSE Launch AI-Powered Energy Insights Lab to Drive India’s Clean Energy Transition

• The Energy Insights and Innovation Lab (EIIL) will leverage data, behavioural science, and AI for smarter power solutions.
• The MoU sets roadmap for demand-side management, and consumer-centric innovation

Tata Power, one of India’s largest vertically integrated power companies, has launched the Energy Insights & Innovation Lab (EIIL) today at its Mumbai based headquarters. This strategic research initiative is designed to harness cutting-edge research, data and experimentation to support India’s clean energy transition while improving the quality, reliability, and affordability of electricity services for consumers across India.

The EIIL is a collaboration with the London School of Economics and Political Science (LSE), and the International Growth Centre (IGC), a global research centre based at LSE. The Lab aims to address pressing challenges in India’s power sector. These range from managing peak electricity demand to enabling deeper renewable energy integration in a way that is reliable, affordable, and aligned with India’s net-zero goals.

The Lab was inaugurated by Dr Praveer Sinha, CEO & MD, Tata Power; Prof. Robin Burgess , Professor of Economics and Director of IGC and EEE Research Program, LSE; Dr. Jonathan Leape, Executive Director, IGC in the august presence of HM Harjinder Kang, Trade Commissioner for South Asia and British Deputy High Commissioner for Western India. Also, present at the ceremony, Dr. Chetan Ghate, Professor, ISI and IGC ISGH.

The inaugural ceremony also marked the signing of an MoU between Tata Power, LSE and IGC to co-develop scalable solutions for the power sector through evidence-based approaches and global best practices.

System-level modelling + consumer-level insight

The Lab will leverage consumer behavioural science, data analytics, and energy systems modelling to test practical solutions at scale. It will focus on applied pilots that use smart meter and IoT data to improve demand-side management and grid resilience.

The initiative will explore how advanced analytics, and behavioural insights can help shift or smooth peak electricity demand in urban households, reducing stress on local networks while maintaining consumer comfort.

The partnership aims to expand the Lab into a full-scale innovation hub with enhanced funding, institutional partnerships, and a broader mandate - including support in tariff designing for regulatory approvals, consumer flexibility, distributed renewables, and energy equity.

India’s electricity demand is surging, driven by industrial growth, lifestyle requirements (cooling and heating requirements), digital infrastructure like data centres, electric mobility et al. In such a scenario, efficiency and system flexibility are increasingly critical to lower procurement costs and facilitate renewable energy integration. The EIIL is designed precisely for this moment. It brings together consumer behavioural science, data analytics, and systems modelling, to test real-world interventions, measure what works, and help utilities and governments turn those insights into scalable and sustainable energy solutions and strategies.

New UK–India research partnership - how it works

EIIL will have a dedicated analyst team co-located at Tata Power’s Mumbai headquarters, working closely with LSE and IGC researchers. The collaboration reflects a model of UK–India partnership where global academic expertise is integrated with on-the-ground industrial capability to solve shared development challenges. LSE and IGC bring international research expertise, while Tata Power contributes operational capabilities, a diverse customer base, and a strong commitment to innovation and sustainability.

Tata Steel & constructsteel Launches Climate-Resilient Zero Energy Building Using Advanced Steel Technology

ZEB Odisha

• 1,836 sq. ft. next-generation facility, completed in 3.5 months
• Showcases India's pathway to sustainable, climate-resilient construction

Tata Steel, in partnership with constructsteel, the steel construction market-development programme of the World Steel Association, inaugurated a pioneering steel-based Zero Energy Building (ZEB) constructed using advanced Light-Gauge Steel Frame (LGSF) technology.

T V Narendran, CEO & Managing Director of Tata Steel, inaugurated the 1,836 sq. ft. facility in the presence of Dr Edwin Basson, Director General of the World Steel Association (worldsteel). Built in just 3.5 months, the facility represents a significant step in India’s move towards net-zero, energy-efficient, and climate-resilient infrastructure.

The steel-based zero energy building reflects the future of construction,” commented T V Narendran. Our partnership with constructsteel showcases how modern, energy-efficient, and low-carbon solutions can be replicated at scale across India and integrated into mainstream infrastructure.

ZEB Inauguration

The LGSF technology, where precisely manufactured steel sections are assembled like a frame, allows the building to achieve a tight envelope with minimal air leakage, better insulation, and reduced energy loss. Steel makes the structure lighter, faster to build, and highly durable, while its recyclability ensures lower long-term environmental impact.

Designed to produce as much energy as it consumes, the steel-based ZEB combines ultra-low operational energy demand with on-site renewable energy generation, achieving annual net-zero energy use. The building uses high-performance glazing, well-insulated walls & roof panels, and natural ventilation wherever possible. To generate clean power on-site, it uses rooftop solar panels and Building-Integrated Photovoltaics (BIPV). The building also includes rainwater harvesting and low-flow fixtures to optimise water consumption.

Adani Green Adopts TNFD Framework to Boost Sustainability and Biodiversity Goals

Adani Green Energy Ltd (AGEL) has formally announced that it is integrated the Taskforce on Nature-related Financial Disclosures (TNFD) framework into its core sustainability strategy, marking a shift toward nature-positive renewable energy development.This move positions AGEL as one of the first Indian renewable companies to embed biodiversity and ecological risk management into enterprise-wide planning.

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What this means

• TNFD framework: A global, science-led initiative that helps companies identify, assess, manage, and disclose nature-related risks and opportunities.
• AGEL’s adoption: Starting FY24, AGEL began company-wide assessments to map dependencies, impacts, risks, and opportunities across all operational sites (over 16.5 GW renewable portfolio across 12 states in India).
• Strategic shift: Moves beyond traditional ESG compliance toward a nature-positive model, ensuring ecological wellbeing is integrated with clean energy expansion.

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Key commitments

• No net loss of biodiversity by 2030: AGEL has pledged to achieve this target, aligning with global conservation priorities.
• Tree plantation drive: Plans to plant 27.86 million trees as part of its ecological stewardship agenda.
• TNFD Adopters Group: AGEL joined even before formal adoption, signaling intent to embed nature-related insights into strategic planning.
• Leadership in renewables: Strengthens AGEL’s position among global renewable companies integrating biodiversity into decision-making.

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Why it matters

• For investors: Enhances transparency on ecological risks, aligning with global disclosure standards.
• For India’s climate goals: Supports renewable energy expansion while safeguarding biodiversity.
• For communities: Ensures renewable projects consider local ecosystems, reducing conflict and enhancing sustainability.

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Risks and challenges

• Implementation complexity: Mapping biodiversity impacts across 16.5 GW of assets is resource-intensive.
• Verification and accountability: Achieving “No Net Loss” requires robust monitoring and third-party validation.
• Balancing growth versus ecology: Rapid renewable expansion must avoid unintended ecological trade-offs.

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Takeaway

Adani Green’s integration of TNFD guidance is not just compliance—it’s a strategic pivot toward nature-positive growth. By embedding biodiversity into its sustainability strategy, AGEL is signaling that renewable energy expansion must go hand-in-hand with ecological stewardship.

India Hosts World’s 1st Commercial Deployment of Coolbrook’s RotoDynamic Heater™ at Adani Cement Plant

• Adani Cement’s Boyareddypalli plant in Andhra Pradesh will be the first cement plant globally to commercially deploy Coolbrook’s RotoDynamic Heater™ (RDH™) technology in the industrial space.
• RDH™ system will be powered entirely by Adani Cement’s large-scale renewable energy portfolio, ensuring that the industrial heat generated is completely carbon emission free.
• This commercial deployment is expected to directly reduce ~60,000 tonnes of CO₂ emissions annually with a potential to increase 10x in due course.
• Complements Adani Cement’s targets to increase AFR to 30% (upped from earlier target of 28%) while we achieve 60% green power share by FY28.

Adani Cement and Coolbrook announce their delivery agreement for the world’s first commercial deployment of the revolutionary RotoDynamic Heater™ (RDH™) technology to advance cement decarbonisation at the Boyareddypalli Integrated Cement Plant in Andhra Pradesh, India. This marks the first industrial scale deployment of Coolbrook’s RDH™ technology, advancing Adani Cement’s net-zero goals achievement by 2050 (validated by the SBTi) and Coolbrook’s goal of cutting 2.4 billion tonnes of annual CO₂ across heavy industry sectors globally.

This technology will decarbonise the calcination phase - the most fossil fuel-intensive stage of cement production. By providing clean heat to dry and enhance the heating value of alternative fuels, the technology enables a significantly higher substitution of fossil fuels with sustainable alternatives. This deployment is expected to directly reduce ~60,000 tonnes of carbon emissions annually with a potential to increase 10x in due course, marking a major step toward decarbonising cement manufacturing.

Critically, the RDH™ system will be powered entirely by Adani Cement’s large-scale renewable energy portfolio, ensuring that the industrial heat generated is completely emission free. This deployment demonstrates the real-world feasibility of clean, electrified industrial heat powered entirely by renewables. This positions Adani Cement to spearhead India’s emergence as the world’s clean manufacturing cement hub.

Mr Vinod Bahety, CEO - Cement Business, Adani Group, said: “The world’s first commercial deployment of Coolbrook’s RotoDynamic Heater™ within our operations marks a pivotal moment in our decarbonisation journey. This is a major leap towards achieving our net-zero goals. By integrating such cutting-edge electrification solutions into our cement production, we are accelerating the shift away from fossil fuels, reducing emissions at scale, enhancing the utilisation of clean energy sources, and setting a new standard for low-carbon cement manufacturing. This ongoing partnership reflects our unwavering commitment to climate leadership and delivering long-term value through innovation and sustainability. This milestone underscores our legacy as pioneers and highlights our transformative actions towards becoming a global building materials solutions powerhouse. We are building a stronger eco-system of partners like Coolbrook along with our R&D investments.”

The project provides a strong and scalable use case for deep industrial decarbonisation with significant potential for replication. Coolbrook and Adani Cement have identified multiple follow-on opportunities for deploying RotoDynamic Technology across Adani Cement’s industrial operations and share an ambition to launch at least five additional projects within the next two years.

Going forward, RDH™ technology will play a pivotal role in decarbonising Adani Cement’s production, improve process efficiency, and accelerate the Company’s sustainability goals including improving AFR (alternative fuels and resource materials) usage towards 30% and increasing the share of green power to 60% by FY28. The first generation RDH™ will deliver hot gases at around 1000°C, which will facilitate drying of alternate fuels, making its utilisation greener and more efficient, representing a breakthrough in high-temperature electrification for cement production.

“Entering into the first industrial-scale project in the world with Adani Cement marks a transformative step for industrial electrification in one of the world’s most vital cement markets,” said Mr Joonas Rauramo, CEO of Coolbrook. “Our mission is to make RotoDynamic Technology a new industry standard for decarbonising hard-to-abate sectors. Together, we’re redefining how cement is produced - cleaner, more efficient, and ready for a net-zero future.”

Adani Cement’s broader sustainability leadership is reflected in it being among the four large-scale cement companies globally to have SBTi-validated net-zero targets and global collaborations including being the world’s first cement manufacturer to join the Alliance for Industry Decarbonisation (AFID), under IRENA.

Adani Cement is the building materials solutions business of the diversified Adani Group, comprising the iconic and most trusted cement brands Ambuja Cements and ACC. As the 9th largest cement producer globally, Adani Cement has ~107 MTPA of installed capacity and accounts for nearly 30% of the cement used in India’s housing and infrastructure projects. The Company offers a broad portfolio of building materials and solutions, ranging from all-purpose cement and concrete grades to specialty products designed for challenging applications. Backed by cutting-edge R&D centres and a commitment to sustainability, Adani Cement is the fourth large scale globally to have its net zero goals validated by the SBTi and has pioneered green and specialised concrete technologies and advanced additives to reduce the carbon footprint of construction. Adani Cement’s mission is to build a stronger nation by delivering quality, innovation, and reliability in construction materials, supported by extensive technical services and a customer-centric approach. 

About Coolbrook:

Hailed as the key technology for industrial decarbonisation globally, Coolbrook is a transformational technology and engineering company on a mission to decarbonise major industrial sectors like petrochemicals and chemicals, iron and steel, and cement. Coolbrook’s revolutionary rotating technology combines space science, turbomachinery and chemical engineering to replace the burning of fossil fuels across all major industrial sectors. The technology has two main applications: RotoDynamic Reactor™ (RDR™) to reach 100% CO2 free olefin production, and RotoDynamic Heater™ (RDH™) to provide carbon-free process heating to iron and steel, cement and chemicals production. Once implemented at scale, the RotoDynamic Technology has the potential to reach temperatures of 1700°C and cut 2.4 billion tonnes (30%) of annual CO2 emissions in heavy industry. For more information, please visit www.coolbrook.com

Safe Harbour Statement

This press release contains forward-looking statements relating to Ambuja Cements Limited and ACC Limited’s future operations, performance, and financial outlook, which are based on current assumptions and expectations. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors such as changes in market conditions, economic developments, regulatory requirements, industry dynamics, and unforeseen circumstances may impact the company’s performance. Ambuja Cements Limited and ACC Limited undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For a detailed discussion of these risks, please refer to our filings with the Securities and Exchange Board of India (SEBI) and other relevant regulatory authorities.

TCS Launches 'GoZero Hub' in Australia; To Help Organisations in Net-Zero Carbon Emissions Objectives

Aligning with the central themes of COP28, the TCS GoZero Hub brings together academia and industry to create a leading centre for research, innovation, education, services, and digital solutions towards climate action.

Tata Consultancy Services (TCS) has partnered with Macquarie University to launch the TCS GoZero Hub, a research and innovation centre to guide Australian organisations in their journeys towards net zero carbon emissions.

Aligning with the central themes of COP28, this hub will focus on five core themes – energy transition, carbon management, nature positive future, circular economy and sustainable waste management, and climate adaptation and resilience – and how to limit and prepare for future climate change.

TCS and Macquarie University will collaborate to bring together multi-disciplinary and multi-faceted approaches and ideas from across industry and academia to drive research and innovation that will help enterprises, governments, regulatory bodies, and communities across Australia develop pathways to accelerate the transition to a net-zero future and beyond, while focusing on nature and people.

In addition to providing expertise and advisory services around best practices and technologies to leverage, the TCS GoZero Hub will offer a curated set of proven digital solutions for driving decarbonisation and the circular economy across value chains, and tailor them to every organisation’s unique context, helping them accelerate their net-zero journeys.

The TCS GoZero Hub will also support education pathways, providing relevant skills and knowledge to prepare students for successful, future-focused careers.

Girish Ramachandran, President, TCS Asia Pacific, said, “Innovating to build sustainable futures is something we are extremely passionate about at TCS. We are pleased to launch the TCS GoZero Hub in partnership with Macquarie University. We’re joining forces to create a leading hub of research, innovation, education and solutions that will enable informed decision-making as we move towards a net-zero carbon future.”

Professor S. Bruce Dowton, Vice-Chancellor, Macquarie University, said, "Macquarie University is committed to undertaking world-changing, impactful research, and to generating new knowledge through research and innovation that supports transformational sustainability. Our partnership with TCS, and the launch of the TCS GoZero Hub, will further amplify our impact in exciting new ways as we help to address the global decarbonisation challenge and create a more sustainable, just and equitable society."

Speaking to over 250 leaders from 91 companies across the Asia Pacific region at the recent TCS Summit Asia Pacific 2023, Dr. Andrew Charlton MP, Federal Member for Parramatta, said, “Australia needs to bring together its technology and innovation skills to become a sustainability leader and a significant contributor to a net-zero future. We commend TCS and Macquarie University for leading the charge with the launch of the TCS GoZero Hub. By coming together to support organisations in their decarbonisation journeys, TCS and Macquarie University are showcasing the power of collaboration, which is required to build a better future for both our people and the planet.”

The TCS GoZero Hub will be backed by TCS’s comprehensive suite of over 200 sustainability services and solutions across different industry verticals.

75% Organizations Say They Need Climate Tech to Achieve Net Zero Goals but Lower Costs Essential for Widespread Adoption

High green premiums mean that further investment and regulation are required to ensure cleaner products and services are commercially viable

Many of the technologies able to address climate change are already available and will play a critical role in helping businesses reduce greenhouse gas emissions. That is according to the Capgemini Research Institute’s latest report “Climate Tech: Harnessing the power of technology for a sustainable future”, which found that three quarters of organizations say they will not achieve their sustainability goals without climate tech. However, close to eight in ten (77%) executives suggest that product costs are likely to increase due to the green premium attached to these technologies and they are unwilling to pay this markup.

Expectations are high for climate technology to contribute to decarbonization

Growth in key climate technologies, including renewable power and electric vehicles (EVs), has helped accelerate decarbonization efforts around the world. Other climate technologies such as low-carbon hydrogen, carbon capture and alternative fuels are becoming available and, if scaled, could help businesses achieve their sustainability goals. According to the report, executives expect climate tech to contribute to 37% (on average) of their organization’s decarbonization or net zero goals, and 65% of organizations plan to increase investment in climate technology in the next two years. For example, two thirds of steel companies view low-carbon hydrogen and carbon capture as a priority. The top drivers for this increased investment are awareness of the worsening climate crisis, stricter regulation, and increased maturity of climate technologies.

The green premium is a major barrier to adoption

While climate tech is critical for decarbonization, it comes at a price. Close to eight in ten (77%) executives suggest that their product costs are likely to increase due to investment in climate technologies. This increase in costs can be attributed to a number of factors including higher R&D, capital, and operating costs, as well as the cost of adapting manufacturing processes. The research reveals that organizations are willing to accept an average increase in product cost due to climate tech adoption (the “green premium”) of around 9%. However, the existing green premium for many clean products is typically significantly higher than this. For example, cost of low-carbon cement produced using carbon capture is estimated to be 75–140% higher than conventional cement, and sustainable aviation fuel (SAF) is estimated to cost 123% more than conventional jet fuel. As a result, climate technologies cannot currently help create cleaner products and services in commercially viable way.

Pockets of rapid progress

Despite the challenges, there are pockets of rapid scale up in climate tech adoption. These include technologies where green premiums have fallen significantly, such as solar photovoltaic (PV) and electric vehicles (EVs), as well as technologies where green premiums are still high, such as carbon capture for cement, green hydrogen for steel, and SAF for aviation. Executives in these industries expect adoption of the technology to spread rapidly: within three years for EVs in the automotive industry, within four years for solar PV in the energy and utilities sector; within three years for SAF in the aviation industry; and within two 
years for carbon capture in the cement industry.

“As the world races to find solutions to address climate change, we can see there is an extraordinary appetite for these technologies, supported by an increased awareness on the urgency to act”, said Florent Andrillon, Global Head of Climate Tech at Capgemini. “We are in the beginning of a “Clean Industrial Revolution”. Public support and private funding have started to ignite the green investment wave, but accelerating the scale up of these solutions will require further capex investments, cost reductions and business model innovation. Before climate technologies reach cost parity with their traditional counterparts, businesses or consumers can’t be expected to handle large green premiums alone. Public policies need to level the playing field and adequately support the scaling up. For example, the spectacular uptick in electric vehicle adoption has a lot to do with public subsidies and various local incentives and regulations. Consumers and organizations alike understand the need to quickly adapt their behaviors, and that solutions exist. It will take increased intervention from governments to support and speed up that paradigm shift for industry and end-users alike.”

Addressing the investment gap

The research also found that on average, organizations plan to increase investment in climate tech by 7.7% in the next two years. However, average annual investment in environmental sustainability initiatives and practices across industries represented only 0.92% of total revenue in 2023, a proposition which stayed flat since last year[1]. In absolute terms, it means that the current investment in environmental sustainability of the top 2,000 largest companies globally represents less than $500 bn per year overall. This is a small portion of the $1.8 trillion of estimated global investment in clean energy in 2023, and far below the $4.5 trillion a year required in the early 2030s, for the energy sector to achieve net zero emissions by 2050, according to the IEA.[2]

Venture capital funding and financial institutions are already filling some of the gap, and should play a critical role in scaling climate tech. The report finds that 37% of surveyed VCs plan to increase investment in climate tech in 2023, with this proportion rising to 48% for 2024 and 56% for 2025. In addition, close to half (47%) of asset-management firms and banks planned to increase climate tech financing in 2023, with nearly as many (46%) planning to do so in 2024, growing to 53% in 2025. This increased investment will be focused on EVs (for 55% of them) as well as decarbonization software (45%), biofuels (36%) or nuclear (33%).

Full report: https://www.capgemini.com/in-en/insights/research-library/climate-tech-research

Methodology

For this report, the Capgemini Research Institute surveyed 1,350 senior executives (director-level and above) from large organizations (~90% of which had annual revenue above USD 1 billion) that have plans to decarbonize or reach net zero, and a survey of 500 large VCs and financial services organizations on their climate tech financing plans. In addition, the research team interviewed more than 15 experts across industries, including VCs. The global survey took place in August and September 2023 and covered 13 countries in North America, Europe, and Asia-Pacific (US, UK, France, Germany, Italy, Spain, Netherlands, Sweden, India, Singapore, Australia, Japan and China) across 16 industries.

[1] Capgemini Research Institute, “A World in Balance 2023: Heightened Sustainability Awareness Yet Lagging Actions,” November 2023

[2] International Energy Agency, “Executive summary – Net Zero Roadmap,” 2023 update

Infographic

Capgemini’s Bangalore campus becomes India's 1st Corporate Campus to Receive Net-Zero Energy Platinum certification

Capgemini today announced that its Bangalore EPIP (Export Promotion Industrial Park) campus is the first corporate campus in India to receive the Net-Zero Energy - Platinum certification from the Indian Green Building Council (IGBC), a part of the Confederation of Indian Industry (CII) aimed at creating a sustainable future for all. With the IGBC Net Zero-Platinum rating - the highest level under the IGBC rating system - the campus has achieved a unique status of being self-sustaining by generating an equal amount of green energy from renewable resources as is needed for its operations.

Ashwin Yardi, CEO of Capgemini in India and member of the Group Executive Committee said, “This is a big milestone towards achieving Capgemini’s sustainability vision and is a testament to our commitment to be a leading responsible and sustainable organization. We will continue to ensure that we live up to being architects of positive futures, where we create a meaningful societal and environmental impact on our journey of growth and evolution."

Designed to be climate responsive with net-zero energy consumption, the Bangalore campus introduced a range of sustainable initiatives, including the installation of smart aisle containment for efficient cooling at its data center; efficient modular uninterrupted power supply systems for its data center, network rooms and desktops; variable refrigerant flow systems and water cooled chillers for comfort air conditioning; and a dual feeder electricity supply to reduce diesel generator operations. 

Once energy consumption was made efficient, the focus shifted to generating, from renewable sources, all the energy that is consumed on campus. An in-house captive solar plant of 1100kwp with bidirectional energy meters was commissioned. The meters export unused green energy to the local grid during weekends and holidays. Capgemini also entered into a long-term agreement for purchase of renewable power from offsite solar and wind farms, ensuring the total power consumed is completely from renewable sources.

Dr. Chandrasekhar Hariharan, Co-Chair, IGBC Bangalore Chapter said, “The vision of the CII Indian Green Building Council is to enable a sustainable environment for all and facilitate India to be one of the global leaders in sustainable environment by 2025. I congratulate Capgemini on this remarkable achievement. Sustainability is a collective responsibility. Employees need to also do their bit by turning off lights, laptops, and taps to ensure preservation.”

Capgemini’s Bangalore campus is nestled in the heart of India’s first technology hub and is spread over 16 acres with seven state-of-the-art buildings surrounded by large open spaces, a body of water, and landscaped gardens. The sustainably designed campus places emphasis on harvesting rainwater and adapting energy efficient technologies that support the functioning of operations including an in-house gymnasium, a crèche, and an employee recreation center for over 9,000 team members.