Why in News?
- On May 31, 2022 India’s largest integrated energy producer, National Thermal Power Corporation Limited (NTPC Ltd.) has issued a renewed Biodiversity Policy 2022.
- The policy was launched with an aim to establish a comprehensive vision and guiding principle for conservation, restoration, and enhancement of biodiversity.
Need for such policy for NTPC
- It is an integral part of NTPC’s Environmental Policy and its objectives are aligned with environmental and sustainability policies.
- To support NTPC’s professionals to achieve Biodiversity Target
- To mainstream the concept of biodiversity across NTPC’s value chain.
- To adopt systematic consideration of local threats to biodiversity beyond the company’s business activities.
Other Facts related to NTPC’s Biodiversity approach
- NTPC was the first PSU to issue Biodiversity Policy in 2018.
- In the same year, NTPC also became a member of the India Business & Biodiversity Initiative (IBBI).
What is Biodiversity?
- It refers to the variety of living species on Earth, including plants, animals, bacteria, and fungi.
- Biodiversity Hotspot: India is home to nearly 8% of global biodiversity on just 2.3% of global land area and contains sections of four of the 36 global biodiversity hotspots.
- Staggering Economic Value: Biodiversity richness has very high economic value for a country for eg., estimates suggest that India’s forests alone may yield services worth more than a trillion rupees per year.
- Protection From Natural Disasters: The varied ecosystems across land, rivers, and oceans, feed our people, enhance public health security, and shield us from environmental disasters.
India Business & Biodiversity Initiative (IBBI)
- It serves as a national platform of business and its stakeholders for dialogue sharing and learning, ultimately leading to mainstreaming sustainable management of biological diversity into businesses.