Deepinder Goyal, Nithin Kamath, Bhavish Aggarwal back Boston Consulting Group's Green Start-up Pledge

In a bid to boost India’s green economy, American management consultancy firm, Boston Consulting Group (BCG), has developed the Green Start-up Pledge (GSP) in a joint partnership with venture philanthropy platform ACT for Environment. The pledge which will be backed by top start-up founders such as Nithin Kamath (Founder of Zerodha), Deepinder Goyal (Founder and CEO of Zomato), Bhavish Aggarwal (Co-founder and CEO of Ola Cabs), and venture capital investors is intended to align with the United Nations’ net-zero emissions target by 2050.   The pledge will be launched at UNFCCC COP27 at Sharm El-Sheikh in Egypt, on November 12 as well as at the Bangalore Tech Summit on November 19.    The pledge will be taken up by start-ups in India, initially, and later by those across the globe. These start-ups will make a vow to build and grow both economically and ecologically by integrating or transitioning to sustainable business operations, keeping in mind the net-zero emissions by 2050 goal.   Commenting on this initiative, Goyal said, “Climate may not be top of mind when building a high-growth business, but it is increasingly important. Sustainability can have significant business benefits – with customers, employees, investors, on the bottom line and for the planet.”   He further added that Zomato has already taken steps in the climate change direction and is excited about GSP as it “helps startups incorporate sustainability into core business operations in a way that builds better and delivers business results.”   Kamath added that at Zerodha, they have been “mindful” about the climate situation for a very long time now. He also said, “Climate isn't a distant threat, it's here and now. In order to have a realistic chance of combating it, we all have to make changes, both big and small.”    In addition to the pledge, a resource platform consisting of tools, information, and contacts of vendors will also be made available to support the implementation of sustainable practices and ensure a smoother transition for the small businesses.   Climate change is also a part of the United Nations’ 17 global sustainable development goals towards 2030. According to market intelligence platform, Tracxn, as of September 2022, about $1.4 billion has been invested in start-ups working in the climate tech space.