Debunking myths that sustainability has an impact on bottom lines, Sunil Mathur, Managing Director and Chief Executive Officer of Siemens India, said facts on the ground are quite contrary to this perception. “I would like to break that myth,” he stated emphatically.
Citing the example of the hospitality industry, Mathur said that 60% of the cost of running a hotel is actually energy cost. “We are able to bring in technologies and have been doing it with a lot of hotels wherein we saw up to a 30% saving in energy cost, reducing carbon footprint by 600 tonnes and a payback of two and a half years. So it makes business sense as well as doing something for the environment,” he said on November 3, while speaking at an event co-hosted by the Global Energy Alliance for People and Planet (GEAPP) and the Observer Research Foundation (ORF) in the capital. The session deliberated on industry decarbonisation in the Global South and some of the technologies that could play a role in this green journey.
The event was held from November 1-3.
Elaborating further, Mathur said that the company had a 50-year factory in Mumbai that is used to produce 80 variants of a product on three production lines. “We have been able to go from 80 variants on three production lines to 180 variants on one production line. It is the same in carbon footprint that you are able to have — a payback of around three years. Industry use is one-third contributor to the total emissions in the world. So it makes sense to invest in such technologies. Firstly, it brings down the carbon footprint and secondly, it supports the bottom line terrifically,” he added.
Delving further on some of the targets for Siemens India, Mathur highlighted that the company has four main targets lined up as a part of its goals. “The first target is to be net zero in our own operations by 2030. Secondly, we want our entire supply chain to be net zero by 2050. Third is that our entire product spectrum will have an eco design by 2030 — 100% of our products will have such a design. Finally, we want the waste landfill to be reduced to zero by 2030,” he said.
Such goals will also help the customers to achieve sustainability goals. “Partly, such targets are because customers want them. But, more importantly, it is because we think it is the right thing to do. Last year, our technologies helped reduce 150 million tonnes of emissions for our customers. So these are real technologies out there through which customers can achieve their carbon emission targets,” he added.