ITC to go for climate risk modelling for food business: Sanjiv Puri

Kolkata: Diversified conglomerate ITC Limited is going for climate-risk modelling to identify the hotspots owing to extreme weather conditions, its Chairman Sanjiv Puri said on Thursday.

Puri said that a team of experts is engaged in this job of modelling comprising big data analytics.

Speaking on the sidelines of a CII event, Puri told reporters: "ITC is trying for a climate risk modelling to identify the hotspots. Then steps will be taken to mitigate these issues. A team of experts is working using big data analytics".

Puri said ITC had already done this in 2020 on a macro basis, adding that this exercise will now be conducted on a granular basis and site-specific for its food business.

"Some years back, we had started to work on climate-smart agriculture. After a few years, nearly 70 per cent of the villages where ITC is working with the farmers will be covered. The farmers will benefit from high yields resulting in better farmers' incomes," he said.

Puri said this practice will also reduce the emission of greenhouse gases (GHGs).

ITC is working on popularising millet-based products in all categories of its food business in the next few months. Millets are able to withstand extreme weather conditions and are also nutritious, Puri added.

Referring to commodity inflation, Puri said it is cooling off now.

The ITC chairman said presently urban demand is growing at a fast pace while rural demand is expected to pick up.

Earlier, he said that the company has been reporting on the triple bottom line for sustainability on environmental, social and social aspects.

"Inclusive and sustainable growth is the key to long-term success. It is also important how the supply chain adapts to extreme weather conditions," he added.

According to Puri, it is important to bring resilience to agriculture. He also said the energy transition from coal to renewables will involve social and financial costs as well.