We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
Climate Policy Engagement Overview: The Federation of Indian Chambers of Commerce & Industry (FICCI) has moderate levels of engagement with climate policy and holds mixed positions. FICCI supports climate action in its top-line messaging but appears to support a continued role for coal and fossil gas in the energy mix.
Top-line Messaging on Climate Policy: FICCI holds positive positions towards climate policy in its top-line messaging. According to FICCI’s corporate website, accessed in April 2023, the organization supported the need for government regulation to respond to climate change and the Paris Agreement. Moreover, the organization appeared to support climate action consistent with IPCC guidelines in a September 2022 press release.
Engagement with Climate-Related Regulations: FICCI’s transparent engagement with climate related legislation appears to be limited. In a Tweet posted in February 2022, FICCI acknowledged that a national carbon market would be rolled out in India, but did not take a clear position.
Positioning on Energy Transition: FICCI seems to support the energy transition in broad terms but also appears to support a role for fossil fuels in the energy mix that is greater than the IPCC’s recommendations. FICCI supported a transition from coal to renewables in India in a report co-authored by the organization in April 2022. However, according to an article published by Business World in November 2022, FICCI described fossil gas as ‘indispensable’ to the energy transition without placing clear conditions on carbon capture and storage (CCS) or methane abatement measures. Furthermore, in an April 2023 press release from the Ministry of Steel, the President of FICCI Subhrakant Panda called for ‘urgent steps’ to increase the capacities of existing coal mines and to operationalize new ones for coking coal production.
Additional Note: FICCI is headquartered in India, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of FICCI's climate policy engagement activities, these scores should be considered provisional at this time.