The urgency of global decarbonization efforts has brought into sharp focus the challenge of transitioning “hard-to-abate” sectors—those industries with emissions deeply embedded in their core processes. Recognizing this critical need, the PHD Chamber of Commerce and Industry (PHDCCI) hosted its second Global Summit on Sustainability on August 22, 2025, at Hotel Le Meridien in New Delhi. This summit served as a crucial platform for industry leaders, policymakers, green technology innovators, investors, and think tanks to collaboratively forge an action plan for decarbonization and achieving net-zero emissions within these challenging sectors. The event specifically targeted the oil & gas, steel, and cement industries, acknowledging their significant contribution to global greenhouse gas emissions and the complexities involved in their transformation.
The summit’s timing is particularly relevant given the increasing pressure on industries to demonstrate tangible progress toward sustainability goals. The industrial sector, responsible for approximately 29% of worldwide greenhouse gas emissions, faces mounting scrutiny. The need for a shift toward sustainable practices, including the adoption of alternative fuels and innovative technologies, is no longer a future consideration but an immediate imperative. Discussions at the PHDCCI summit highlighted a critical bottleneck: the lack of assured demand for green technologies, particularly in the realm of green steel. Panelists cautioned that substantial investments in these areas will remain stalled without clear market signals and supportive government policies. This underscores the necessity for a coordinated approach involving both public and private sectors to de-risk investments and incentivize the adoption of cleaner production methods.
A key theme emerging from the summit was the vital role of Micro, Small, and Medium Enterprises (MSMEs) in driving green growth. Representing 50% of India’s exports and employing 11-12 crore people, MSMEs possess a significant, often underestimated, impact on the nation’s sustainability trajectory. Empowering these businesses with access to green finance, technology, and knowledge is crucial for accelerating the transition. The summit also emphasized the importance of MSME-led green innovation and transformation, recognizing their potential to develop and implement localized solutions tailored to specific industry challenges. Furthermore, the discussion extended beyond purely technological solutions, acknowledging the need for robust Environmental, Social, and Governance (ESG) frameworks and a commitment to business integrity. The collaboration between PHDCCI and the UN Global Compact Network India (UN GCNI) exemplifies this commitment to integrating sustainability into core business practices.
The challenge of decarbonizing hard-to-abate sectors isn’t limited to India. Globally, industries are grappling with the complexities of transitioning away from fossil fuels and adopting cleaner alternatives. The concept of labeling these sectors as “hard-to-abate” itself is being re-evaluated, with some arguing that it can create a self-fulfilling prophecy of inaction. Instead, a focus on enabling and accelerating decarbonization through collaboration, innovation, and supportive policies is gaining traction. This collaborative spirit was evident at the PHDCCI summit, bringing together diverse stakeholders to share best practices, identify opportunities, and address common obstacles. The summit also acknowledged the need to learn from real-life examples of successful decarbonization strategies, as highlighted by discussions around compressed biogas (CBG) and liquefied natural gas (LNG) as key growth drivers in India’s gas sector. These alternative fuels offer a pathway toward cleaner energy production and reduced emissions.
Investment requirements to achieve net-zero emissions are substantial, estimated at $30 trillion globally. A significant portion of this investment will need to flow into sectors beyond the traditional hard-to-abate industries, highlighting the interconnectedness of the decarbonization challenge. The Net Zero Industry Tracker 2024 indicates a recent decline in emissions within these sectors, but warns that progress remains significantly off track to meet the 2050 net-zero target. This underscores the urgency of accelerating decarbonization efforts and scaling up investments in green technologies. The summit’s focus on action planning, coupled with the participation of key policymakers and investors, aimed to translate ambition into concrete steps toward a more sustainable future.
Looking ahead, the momentum generated by the PHDCCI Global Summit on Sustainability 2025 needs to be sustained. Continued dialogue, collaboration, and policy support are essential for overcoming the challenges and unlocking the opportunities presented by the transition to a low-carbon economy. Events like the Hamburg Sustainability Conference and Sustainability Week, along with other ESG and sustainability conferences planned for 2025 and beyond, will play a crucial role in fostering knowledge sharing and driving collective action. The focus must remain on fostering innovation, incentivizing investment, and empowering all stakeholders—from large corporations to small businesses—to contribute to a more sustainable and resilient future. The success of this endeavor will not only mitigate the impacts of climate change but also unlock new economic opportunities and enhance global competitiveness.
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