GreenCo Rating System
- 20 Mar 2020
- 2 min read
- The Green Companies (GreenCo) Rating System has been developed by the Confederation of Indian Industry (CII).
- The system evaluates the companies on 10 broad green parameters, including GreenHouse Gases (GHG) reduction, renewable energy use etc.
- Accordingly, ratings are provided which remain valid for three years.
- It is the "first of its kind in the world" holistic framework that evaluates companies on the environmental friendliness of their activities using a life cycle approach.
- The life cycle approach considers product design, materials used, procurement, vendor management, logistics, packaging, manufacturing, distribution, product use, disposal and recycling.
- Its mission is to facilitate Indian industry to make a substantial improvement in their environmental performance thereby saving both natural and financial resources.
- It has been acknowledged in India's Intended Nationally Determined Contribution (INDC) document, submitted to the United Nations Framework Convention on Climate Change (UNFCCC) in 2015, as a proactive voluntary action of Indian industry/ private sector towards combating climate change.
Confederation of Indian Industry (CII)
- CII is a non-government, not-for-profit, industry-led and industry-managed organization. It was founded in 1895.
- It works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes.