KSPCB and CII jointly promote voluntary adoption of GreenCo rating and cash incentive for GreenCo rated companies

March 24, 2023, Bengaluru: The Karnataka State Pollution Control Board (KSPCB) launched the GreenCo rating system for industries in Karnataka in association with the Confederation of Indian Industry (CII) to encourage greening of industries in Karnataka. The Minister of Tourism, Environment, and Ecology, Karnataka, Mr Anand Singh, launched the rating and announced one-time incentives for participating industries ranging between Rs. 50,000 to Rs. 10,00,000 based on the size of the unit and the GreenCo rating level achieved. In addition to the incentives, three of the best companies across each category will be awarded annually and KPSCB will also feature GreenCo rated companies on its website.

The CII GreenCo rating is a first of its kind in the world rating system that assesses environmental performance of companies and facilitates a guided phased growth towards excellence in green and sustainability. The implementation of GreenCo rating will help to create a green industry landscape in Karnataka, where industries will perform beyond the regulatory norms and work towards achieving aspirational goals.

The GreenCo rating system is acknowledged by the Government of India in its Nationally Determined Contribution (NDC) as an industry contributor to climate mitigation efforts. The United Nations Industrial Development Organization (UNIDO) has recognised GreenCo as one of the Top 50 global best practices facilitating green growth of industries.

As of now, the GreenCo rating has been adopted by more than 850 organizations, including the Indian Railways and several other Public Sector Units (PSUs), private firms and Small and Medium Enterprises (SMEs) from 20 different industry sectors. Collectively, they have reported savings of INR 3,400 Crores, and reduction of 3.0 Million Metric Tonnes (MMT) of carbon or CO2 equivalent emissions.

Industries are therefore invited to voluntarily participate and be benefited by the GreenCo rating program. The adoption of GreenCo Rating by industries will promote efficient use of natural resources, reduction in pollution and waste, reduction in carbon emissions, and facilitate industries attain world-class standards in environmental management. It will also facilitate the Karnataka State to head towards a greener economy and emerge as a low carbon state in the country. The launch event was attended by Dr. Shanth A Thimmaiah, Chairman, Karnataka State Pollution Control Board, Mr Vijaykrishnan Venkatesan, Chairman, CII – Karnataka State Council & Managing Director at Kennametal India, Mr K S Venkatagiri, Executive Director, CII – Green Business Centre and other senior members of CII.