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Post at: Aug 10 2022

NTPC’s Biodiversity Policy 2022

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.

Objectives

  • 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.
  • Significance:
  • 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.

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