President Murmu Urges Corporates for Sustainable Practices

On June 23, 2025, President Droupadi Murmu addressed the National Students’ Convocation of the Institute of Cost Accountants of India (ICAI) in New Delhi, emphasizing that sustainability is a critical necessity driven by climate change. She urged corporates to prioritize environmental costs and highlighted the role of cost accountants in fostering sustainable development, aligning with India’s net-zero goal by 2070.

President Droupadi Murmu spoke at the 12th National Students’ Convocation of the ICAI, underscoring the urgent need for sustainable practices amid global climate challenges. India, with 159.5 GW of renewable energy capacity in 2025, aims for 500 GW of non-fossil fuel capacity by 2030. Murmu noted that corporates must account for environmental impacts, moving beyond profit-driven models. Cost accountants, she emphasized, can drive this shift by integrating environmental costs into financial frameworks, supporting India’s 45% carbon intensity reduction target by 2030.

The ICAI, established in 1959, trains professionals who advise central and state governments, contributing to India’s economic policies. India’s industrial sector, responsible for 30% of emissions, requires such expertise to meet Nationally Determined Contributions (NDCs). Murmu highlighted the institute’s role in strengthening India’s economy, projected to grow at 7% in 2025, per IMF estimates. Accountants can promote green initiatives like solar adoption, with India’s 108 GW solar capacity leading globally.

India faces climate vulnerabilities, with 109 high-risk districts and $10 billion in annual flood damages, per TERI. Murmu’s call aligns with the Green India Mission, enhancing forest cover to absorb 2.5 billion tonnes of CO2 by 2030. Corporate sustainability initiatives, like SKF’s energy-efficient bearings launched in June 2025, reduce emissions by 15% in manufacturing. However, only 10% of MSMEs adopt such technologies due to financing gaps, requiring $1 billion annually for green transitions.

Murmu’s address complements her broader sustainability advocacy. On World Environment Day 2025, she urged collective efforts for a greener planet, and at a National Conference on Environment in March, she described balancing development and conservation as both an opportunity and challenge. Her vision for a Viksit Bharat by 2047, outlined in a curated collection of 51 speeches released on June 23, integrates sustainability with economic growth. Posts on X reflect public engagement with her message, emphasizing sustainability’s necessity in addressing climate change.

Challenges include corporate resistance, with 70% of firms prioritizing short-term profits, per a 2024 FICCI survey, and inadequate environmental accounting standards. India’s 38,000 MLD wastewater treatment capacity, with 70% untreated, highlights the need for sustainable industrial practices. Pilot projects in Gujarat, using solar canopies at treatment plants, cut costs by 15%, offering a model for scaling. The 2025 Budget’s $2 billion for green manufacturing supports such efforts, but training 100,000 accountants by 2030 is needed to implement environmental costing.

Murmu’s emphasis on accountability resonates with India’s Atma Nirbhar Bharat initiative, promoting local innovation. The Critical Minerals Mission, with $1 billion allocated, secures resources like lithium for renewable technologies, reducing 50% import reliance. However, regulatory gaps and 20% project delays due to land acquisition hinder progress. Tamil Nadu’s Renewable Energy Clusters, integrating 5 GW, demonstrate efficient policy execution, reducing emissions by 10%.

Conclusion

President Murmu’s call for sustainability as a necessity drives India’s corporate and economic strategies toward net-zero by 2070. By leveraging cost accountants’ skills and policy support, India can address climate challenges, but overcoming financing and regulatory barriers is essential for transformative impact.

Source: The Hindu,