MeitY CoE Enterprise Innovation Challenge with NASSCOM calls for tech innovation to achieve ESG Goals
#NASSCOM #MeitY #EnterpriseInnovationChallenge #NetZeroThis season of Enterprise Innovation Challenge (EIC) aims at mapping the progress while looking at innovative strategies to create viable and localised use cases to overcome the unanticipated risks of Environmental, Social, and (Corporate) Governance (ESG)
January 2022 : As businesses and corporates undergoes a paradigm shift leveraging ESG measures to compute the ethical and sustainable impact of their investments, Ministry of Electronics & Information Technology (MeitY) Centre of Excellence (CoE) for IoT & AI in collaboration with KITS (Karnataka Innovation & Technology Society) launched the 2nd edition of the Enterprise Innovation Challenge (EIC) with a focus on Environmental, Social and Governance (ESG) goals.
The virtual inaugural session of the EIC Challenge saw the presence of Abhishek Singh, CEO, Digital India MeitY, Debjani Ghosh, President, NASSCOM; Dr Vibha Dhawan and Director General, TERI (The Energy & Resources Institute), Arun Misra, CEO, Hindustan Zinc, Mona Soni, Global Head of ESG Technology, S&P Global Sustainable1, Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra and other eminent industry experts.
This MeitY initiative, in collaboration with KITS (Karnataka Innovation & Technology Society), Government of Karnataka, which aims to foster innovation in the space, also presented some unique use cases like ‘Market transformation towards Sustainable Palm Oil’ establishing the linkage between sustainable palm oil and biodiversity conservation, climate and how it can help attract youth attention and possible action on this issue. Another use case by Novartis titled ‘Environmental sustainability – thermal renewable energy’ focused on looking for scalable and reliable alternatives to natural gas, diesel, and other carbon-generation sources to produce thermal energy. And the Use Case of Diageo ‘Accelerate to a Low Carbon World– Moving towards Net Zero Carbon’ highlights its efforts towards achieving Net Zero Carbon in its direct operations by innovative to reduce carbon in the value chain by 50%.
Mona Soni, Global Head of ESG Technology, S&P Global Sustainable1 said “The role of the technology industry is underexplored in driving ESG goals. However, we are witnessing a growing conversation among stakeholders to understand more about ESG implications and how technology can be useful. The faster adoption of clouds is a reality today, which is leading to the setting up of more data centers and hence more power consumption. But globally power consumption is increasingly being shifted to green sources as well. Organizing ESG commitments will be a critical focus area for organizations and sustainability issues need to be addressed seriously with technology playing a key role in the process.”
This season of Enterprise Innovation Challenge (EIC) aims at mapping the progress while looking at innovative strategies to create viable and localised use cases to overcome the unanticipated risks of Environmental, Social, and (Corporate) Governance (ESG). Initiated in 2021, EIC aims to leverage the innovations created by Indian entrepreneurs and nurture sustained engagements between innovative start-ups and enterprises. The use cases will undergo rigorous brainstorming and evaluation until the most commendable and cost-effective innovative solution is shortlisted. Interested entities will avail these solutions for augmenting, improving, and scaling up the ESG challenges defined by the enterprises.
Pro MFG Media is the Official Media partner for this initiative.
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