With 17% of the world’s population, India has only 4% of fresh water resources and 1% of global forest resources. The degradation of the environment as a result of accelerated economic growth and global warming implies scarce natural resources that will limit future growth potential.
The need of the hour is to augment natural resources on a large scale vis-a-vis incremental measures that are aimed only at minimising environmental damage alone. Clearly, the absence of policies to encourage the creation of natural resources such as green cover would impede the efforts of responsible corporates in building environmental capital. For example, policies have been designed to curtail the felling of trees, but have not aggressively addressed the growing of renewable forests. |
