“Healthy Air, Healthy Planet” — the theme for this year’s International Day of Clean Air for Blue Skies 2021 — is upfront in acknowledging the ubiquity of air-pollution effects, calling for collective efforts to improve our air for a better tomorrow.

Public health concerns have grown tremendously during the past two years because of the pandemic. The outbreak has led to a significant loss of lives and has serious implications for public health.

The year 2019–20 saw a ~20% spike in electric vehicles (EV) sales in India, as per the Society of Manufacturers of Electric Vehicles (SMEV). Transport aggregators such as Ola and e-commerce giants such as Amazon and Flipkart are planning to ramp up the number of EVs in their fleet. This indicates the willingness of people to switch to EVs for a good cause – namely, improved air quality. 

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Thermal comfort is a fundamental need and should not be the privilege of the well-off. The recent string of heatwaves around the world, including in India, have unquestionably been intensified by climate change. Staying ‘thermally comfortable’, especially during these events, is vital for avoiding the health impacts of extreme heat.

According to Union Ministry of Statistics and Programme Implementation, India produced 15,311 petajoules of energy in 2020 of which 81% was derived from fossil fuels such as coal, oil, and natural gas. In fact, fossil fuels have been the fuel of choice for decades despite causing permanent damage to our environment.

The massive policy push to electric vehicles (EVs) has prompted India to gear up for large-scale adoption of EVs, with state-wise targets to electrify private as well as public vehicles. Though a report by the Confederation of Indian Industry (CII) estimates the penetration of EVs in the private car segment to reach almost 10% by 2030, today it stands at a dismal 1%. 

With 22 Indian cities in the top 30 most polluted cities in the world (IQAir, 2020), our new dependence on pollution management at receptors — such as smog towers, water sprinkling on roads, etc. — will fail miserably unless we prioritise source correction. We lack the capacity to remove all particulate or gaseous pollutants as no existing filtering technology can handle India’s current emission rates.

It is true that investors look to create wealth from their investments, and in the recent past, companies that created value for shareholders at any cost, in terms of share prices and dividends, were in prominence.

However, the trend is slowly changing and investors have started to look at companies that do well on the environmental, social, and governance (ESG) criteria. Companies that are environmentally benign, create social value, and are backed by robust governance mechanisms are in demand. Investors are now envisaging a future where ESG criteria play a major role.