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By- Institute of Directors | Authored by- Hon'ble Justice Mrs. Sunita Agarwal
Aug 12, 2026
The theme of this year's Conference, "Board Strategy for Securing the Future: Risk and Resilience in Nature and Climate Governance," reflects that transformation. It recognises that environment management is no longer confined to pollution control, regulatory compliance or corporate social responsibility. It has become a question of governance, strategy and long-term institutional resilience.
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By- Institute of Directors | Authored by- Mr. Prem Kumar Taneja, IAS (Retd.)
Aug 12, 2026
Green finance and sustainable capital allocation are, to my mind, among the most critical drivers of the global energy transition. I believe capital remains central to achieving meaningful progress, and that aligning financial resources with sustainability objectives has the potential to create transformative outcomes.
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In many ways, one could even say that compassion is the highest form of preparedness, because when we prepare, we prepare not only for ourselves but also for others who may be affected by unforeseen circumstances. Conversely, the absence of preparedness means that we continue to act without sufficient foresight for what the future may bring.
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I would like to begin by referring to some of the points raised by Dr. Ajay. He brought forward several important aspects, particularly regarding the role of carbon dioxide and fossil fuels, which deserve continued debate and discussion. It also reminds us how dynamic this field truly is. New discoveries continue to emerge, some anticipated and many completely unforeseen.
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We will have to pursue multiple pathways simultaneously. Anything that enables us to significantly reduce carbon emissions deserves serious consideration. That is precisely why GMDC is investing in underground coal gasification.
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For an economy of nearly 30 trillion dollars, it is essential that the energy powering our growth remains secure and, as far as possible, under our own control. India occupies a uniquely important position in the global climate landscape. On the one hand, our historical contribution to cumulative greenhouse gas emissions has been minimal, and even today we remain among the world's lowest per capita emitters.
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The role of the Board has therefore evolved far beyond governance and financial oversight. Today, Boards must provide strategic direction, allocate capital wisely, manage emerging risks, and foster innovation that creates long-term sustainable value. Ultimately, the clean energy transition will not be driven by technology alone.
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Vadodara is Gujarat's third-largest city, with a population of nearly 35 to 40 lakhs within the Urban Development Authority. The aspirations of our citizens are closely aligned with the vision of Viksit Bharat, Viksit Gujarat and Viksit Vadodara by 2047. At the same time, we remain committed to combating climate change and achieving our net-zero goals.
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Indians are resilient by nature. For over a millennium, we have confronted adversity with courage, determination and perseverance. Today, under the leadership of Prime Minister Shri Narendra Modi, India is moving ahead with renewed confidence and purpose.
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The understanding of global warming originated from experiments conducted in the 1950s, where carbon dioxide and infrared radiation were studied together. The mechanism is quite fascinating. A carbon dioxide molecule behaves somewhat like a pendulum, absorbing infrared radiation and subsequently releasing that energy, thereby contributing to global warming.
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