To advance clean technology and sustainable energy, non-profit organization ACT, which has the support of some of India’s top investors and founders, has teamed up with Boston Consulting Group to introduce the Green Startup Pledge (GSP) at COP27. Creating enterprises of the future that incorporate sustainability into their primary business principles confirms the notion that the Indian startup ecosystem will lead the shift toward a more sustainable economy.
The Green Startup Pledge will spearhead this change, assist companies in growing sustainably, and provide resources so India can fulfill its climate commitments. The pledge was introduced on November 12 at the UNFCCC COP27 in Sharm El-Sheikh, Egypt, and on November 19 with the Chief Minister of Karnataka at the Bangalore Tech Summit. ACT’s non-profit venture philanthropy platform was established in 2020 in response to the Covid issue. It is based on the idea that collaborative action, technology innovation, and an entrepreneurial attitude have the potential to make a significant social effect at scale.
The world’s first climate pledge explicitly created for startups, the green startup pledge from ACT and BCG, has the support of India’s top venture capital firms. Entrepreneurs such as Nithin Kamath of Zerodha, Deepinder Goyal of Zomato, and Bhavish Aggarwal of Ola are promoting the commitment. The organization is designed to take the appropriate action to spark social change through cross-cutting collaboration. It is primarily targeted at and intended for venture capitalists (VCs), startup founders, donors, NGOs, professional advisers, government stakeholders, and the general public.
The Green Startup Pledge offers streamlined reporting and a core focus on good business while aligning with the “net zero by 2050” goals and associated scientific measurement. It also contributes to the Business Responsibility and Sustainability Report (BRSR). ACT has introduced “ACT For Environment,” which provides funding for climate and environmental companies with the potential to catalyze large-scale climate impact. Along with giving funds, it collaborates with grantees to develop long-lasting, sustainable organizations by assisting with strategy, operations, and harnessing the power of ACT.
ACT for Environment seeks to assist India in fulfilling its dual commitments to environmental security and economic development, including those made to its citizens and outlined in the SDGs and NDCs.
