Indian and Global Businesses Urge G20 to Back 1.5C Energy Transition

Major Indian and global companies including Infosys, Wipro, JSW Group, Zomato and IKEA India signed an open letter urging G20 leaders to adopt reliable clean-energy targets and consistent policies aligned with the 1.5°C goal. The coordinated call, ahead of the New Delhi G20, presses governments for the policy clarity Indian firms say their net-zero investments require.

Several Indian businesses and companies operating in India signed an open letter to G20 leaders calling for reliable targets and consistent policies on clean energy, electric vehicles, rapid decarbonization of hard-to-abate sectors and climate finance, aligned with the 1.5°C target. Signatories include Chalet Hotels, Infosys, Ultratech, JSW Group, Zomato, Citylink, Godrej and Boyce, Tech Mahindra, Godrej Industries, Wipro, ReNew, Sun Renewables, Heineken and IKEA India. The letter was coordinated by Climate Group and the We Mean Business Coalition ahead of the New Delhi G20.

The letter affects Indian and global businesses across sectors that have already begun net-zero investments but stress the need for government action and long-term policy clarity. It targets policymakers, advocating phasing out unabated fossil fuels in line with 1.5°C, power-grid decarbonization by 2035 in advanced economies and 2040 in emerging countries, EV adoption across all vehicle categories, equitable climate finance for the Global South, transparent carbon pricing, and reform of all fossil-fuel subsidies by 2025.

Indian companies and policymakers should monitor how G20 outcomes under India's presidency shape the agenda for COP28 in Dubai in November, which the letter notes will be influenced by the Indian G20 Presidency's direction. Businesses should track government adoption of the recommended timelines, including the 2025 fossil-fuel subsidy reform deadline and grid-decarbonization targets. Firms pursuing decarbonization should engage on public-private collaboration and policy clarity, which signatories cite as essential to scaling clean energy and reducing fossil-fuel reliance.

Key figure — Fossil-fuel subsidy reform target: by 2025; emerging-economy grid decarbonization: by 2040