Polycab India Ltd.

A need to opt Green Wires for ESG conscious firms to reduce carbon emissions

A single kilometre of conventional power cable, which weighs about 20 tonne per km has lead content of almost 8 tonne per km which is about 45—48 percent.

The intensity of climate change is clearer now than ever. Its impact on humanity is still being estimated and ways to correct the environmental damage through eco-friendly initiatives which are at the centre of its discourse. For decades, corporates have spoken explicitly about contributing to the environment and some even started a move in that direction as part of their Corporate Social Responsibility.

There are several examples of organisations that have gone beyond their CSR activities to integrate ESG policies at the core of their business. ESG is all about reimagining the possibilities and providing solutions to issues that need urgent attention and can be linked to innovative business models.

None other than the Covid19 pandemic has been instrumental in reinforcing the need to adopt ESG policies to stay ahead of the vulnerability curve. As of today, impactful ESG policies are emerging as a prerequisite for companies to attract investors as your organisation's principles, values, and duties towards society, are prime factors considered by investors.

Willing to fight climate change, several big companies have expressed their commitment to go carbon neutral which means that they have pledged that the operations of their business will offset the amount of carbon dioxide emitted into the atmosphere by some other means. Amazon has announced a goal to be carbon neutral by 2040, whereas, Apple announced that it will become 100 percent carbon neutral across all its manufacturing chains by 2030.

While many initiatives to fight climate change have been rolled out, eco-friendly wires and cables are set out to become the game changers for environmental sustainability. According to the World Health Organisation, about 240 million people globally are overexposed to lead poisoning.

Just like constant innovation has upgraded products across industries making them more environment-friendly, the evolution of wires and cables have been on the same track. Green wires bring in more safety with low smoke and toxic gas emissions, fire-resistant, zero halogen gas, flame retardant properties, , and low-cost installation.

As per a study by Report linker, a market analyst, the global market for Insulated Wires and Cables is estimated at the US $158.6 Billion in the year 2020 and is projected to reach a revised size of US$231.9 Billion by 2027, growing at a CAGR of 5.6% over the analysis period 2020-2027.

The increase in demand of the wires and cables industry stems from the rollout of projects chalked out under National Infrastructure Mission, focus on healthcare projects after the pandemic, growing construction industry and urban mobility projects like Metros and Airports among other reasons. Also, projects related to road connectivity is set to increase in the next decade which will give a boost to the transmission industry.

Corporates are highly expected to make sustainable choices at every step. Opting for eco-friendly operations through bettering their manufacturing facilities with the sole aim to minimise the impact of operations on the environment are some of the key qualities ESG conscious companies have.

Major game-changing projects pertaining to building infrastructure, healthcare and pharmaceutical storage facilities will generate economic growth in some sectors benefitting many companies who are interlinked with building of the infrastructure. Along with this, the rising urbanisation, demand for building an IT infrastructure after the pandemic and increasing industrialisation will involve a higher consumption of electric transmission cables.

Using conventional wires and cables will defeat the purpose of corporates aiming to ensure carbon neutral operations. A single kilometre of conventional power cable, which weighs about 20 tonne per km has lead content of almost 8 tonne per km which is about 45—48 percent.

To protect the environment and health concerns, switching to greener alternatives is an obvious choice as the green wire produces lesser volatile organic content that has a detrimental effect on environment and human body.

Every little effort matter, and every alteration or changes made to do some damage control will always be valuable. Working in tandem with ecologically sound initiatives requires a lot of planning, proper implementation, and accurate investments.

As industries pledge towards ensuring adoption of environment supportive policies, going green will allow a business to decrease pollutants and emissions essentially reducing their carbon footprint. This needs to be push forward through strong government policies and incentive-linked initiatives to adopt green wires and cables for a sustainable future.

POV by –

Bhushan Sawhney

Executive President & Chief Business Officer (Cables)

Polycab India Ltd.