CEO Water Mandate | 08 Jun 2021

Why in News

NTPC Ltd. has become a signatory to the United Nations’ Global Compact’s CEO Water Mandate.

• NTPC Ltd is India’s largest power utility under the Ministry of Power.

Key Points

• About:
  
  • It is a special initiative of the UN Secretary-General and the UN Global Compact, implemented in partnership with the Pacific Institute. It was established in 2007.
  • It aims to demonstrate commitment and efforts of companies to better their water and sanitation agendas as part of long term Sustainable Development Goals.
  • It is a global commitment platform for corporate water stewardship. Water stewardship is the use of water in ways that are socially equitable, environmentally sustainable, and economically beneficial.
  • It has six commitment areas:
    
    • Direct operations (i.e. Measuring and Reducing water use).
    • Supply chain and watershed management.
    • Collective action.
    • Public policy.
    • Community engagement.
    • Transparency.
• UN Global Compact:
  
  • The United Nations Global Compact is a non-binding United Nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation.
  • It is a principle-based framework for businesses, stating ten principles in the areas of human rights, labor, the environment and anti-corruption.
  • Under the Global Compact, companies are brought together with UN agencies, labor groups and civil society. Cities can join the Global Compact through the Cities Programme.
  • India is also a part of the UN Global Compact.
• Other Initiatives which make companies a part of Environmental Conservation:
  
  • Industrial Deep Decarbonization Initiative (IDDI):
    
    • It is a global coalition of public and private organisations who are working to stimulate demand for low carbon industrial materials.
    • Coordinated by UNIDO (United Nations Development Industrial organisation), the IDDI is co-led by the UK and India.
  • Race to Zero Campaign:
    
    • Race to Zero is the UN-backed global campaign rallying non-state actors – including companies, cities, regions, financial and educational institutions – to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer, zero-carbon world in time.

Source: PIB