Smart Cities and ESG: Navigating the Triple Threat Dilemma in Emerging Economies with Keval Valambhia, COO of CREDAI-MCHI

Smart Cities and ESG: Navigating the Triple Threat Dilemma in Emerging Economies with Keval Valambhia, COO of CREDAI-MCHI

The tightrope walk between economic prosperity, social harmony, and ecological well-being is the major botheration to the developing economies. It's like trying to juggle flaming torches while riding a unicycle on a tightrope.

Keval ValambhiaUpdated: Tuesday, March 12, 2024, 11:54 AM IST
article-image

Today the major issue faced by the emerging economies are bustling cities, emerging economies, and a triple threat dilemma staring them right in the face. The tightrope walk between economic prosperity, social harmony, and ecological well-being is the major botheration to the developing economies. It's like trying to juggle flaming torches while riding a unicycle on a tightrope.

On one hand, you've got the economic game. Building cities that stand the test of time, that scream quality and resilience, but, it comes with a price tag. Higher construction costs can pinch those purse strings, especially in the short term. But, there's more! If we put all our eggs in the economic basket, we risk neglecting our social bonds and ecological responsibilities.

On the flip side, if we go all out for ESG (that's Environmental, Social, and Governance criteria, for the uninitiated), we might be leaving economic growth in the dust. It's like trying to balance a seesaw with a hippo on one end and a feather on the other – not exactly a recipe for success.

But fear not, because there's a shining beacon of hope on the horizon – the 200-watt Smart Cities! These babies are leading the charge towards net zero, using fancy-pants technologies to slash energy needs and greenhouse gas emissions. They're like the superheroes of urban development, fighting the good fight for ESGs and SDGs ( Sustainable Development Goals).

And guess what? We've got the numbers to back it up. With the Net Zero Cities platform, we're not just talking the talk, we're walking the walk. Supported by heavy hitters like C40 and UN Habitat, and championed by top-notch universities, this platform is the Holy Grail of sustainability measurement. It's like having a Fitbit for cities, keeping them in check on their journey to net zero.

But, let's not forget the real MVPs in this game – the people. That's right, citizen engagement is key to building the cities of tomorrow. And with a whopping 75% of infrastructure yet to be built by 2050, there's no time like the present to get involved.

So, here's the deal: emerging economies might have their work cut out for them, but with a little creativity, innovation, and a whole lot of community spirit, we can turn this triple threat dilemma into a triple win.

(The author is the COO of CREDAI-MCHI)

RECENT STORIES

Analysis: Voters Must Not Get Distracted By Rhetoric

Analysis: Voters Must Not Get Distracted By Rhetoric

Editorial: The Irrelevance Of Being Raj Thackeray

Editorial: The Irrelevance Of Being Raj Thackeray

Analysis: Why The Skymet Forecast Matters To Policymakers

Analysis: Why The Skymet Forecast Matters To Policymakers

Editorial: Unemployment & Price Rise Hurt — But Are Not Electoral Issues

Editorial: Unemployment & Price Rise Hurt — But Are Not Electoral Issues

Two-Time Himachal Pradesh Chief Minister & RSS Shanta Kumar, Pained At BJP’s Deviation From Lord...

Two-Time Himachal Pradesh Chief Minister & RSS Shanta Kumar, Pained At BJP’s Deviation From Lord...