ABP Ideas of India: Dr Anish Shah, the managing director and chief executive officer of Mahindra and Mahindra Group, Friday said climate change is a reality, but there is an opportunity as well to scale up and make businesses profitable. According to him, innovation and use of technology will make it possible.
“Reality is that world temperature has gone up by 1 degree celsius. So if there is an increase by half a margin, it will bring catastrophe. So here is the opportunity to scale (up) the businesses as well as protect the environment,” he said at the inaugural session of ABP Network's Ideas Of India Summit that is bringing together visionary leaders from different walks of lives to share vision on the ideas of India.
In conversation with Shankkar Aiyar, political economy analyst, author, and columnist, Shah talked about 'Reinventing Business: Purpose vs Profit'.
He said his group has already done 2,000 projects with a 24 per cent profitability in which they have transitioned to the environmentally-friendly use of energy.
“There are a lot of opportunities in our country in the energy sector. Homes account for 40% of emission of CO2. This needs to be worked upon,” he added.
Shah said their group is aiming to bring down the emission of CO2 in the next 40 years.
“...an organisation needs to be purpose-driven. If it not, the organisation will find it difficult to survive,” he added.
ABP Network’s two-day 'Wild Stone presents Ideas of India' Summit will have thought leaders from various fields — culture, sports and cinema to technology, business and politics — talk about the journey of India so far.