UK-India Climate Change Cooperation: Supporting Indian SMEs To Go Green
India, as the world’s second most populous country and fifth largest economy, is a key player in the world’s environmental outcomes. At the same time, India’s growing population and expanding market is demanding more energy all the time. As a result, meeting existing demands for reliable and affordable energy is a challenge and one that is set to grow exponentially in the future. It will be crucial to act now by investing in clean energy infrastructure and environmental solutions to meet anticipated demand.
Currently it is Governments and multinational corporations that are predominantly leading on the energy transition. For SMEs there are generally greater constraints, both financial and practical, that mark a nuanced set of challenges in relation to climate change. This is magnified in the globalisation era wherein multinationals have access to resources from around the world whereas SMEs are, on average, less able to fully embrace modernisation and innovation.
Although the environmental footprint of SMEs may be low at the individual level, the aggregate impact of SMEs is enormous. In the fight against climate change then, it is vital to support SMEs to overcome these challenges and contribute to the energy transition. This report thereby seeks to develop the understanding of the challenges that SMEs in India face in being more environmentally sustainable and in contributing to the resolution.