The more than 250 percent price increase has also been blamed on EU’s climate policies, which many fear may affect public support for a transition to greener energy. While many individuals favour the transition and action against climate change, only a fraction of them would be willing to foot a higher bill for the same. 

To discuss India Inc’s road to sustainability CNBC-TV18’s Nisha Poddar spoke to two key proponents of building sustainable businesses, Kaku Nakhate of Bank of America and Amish Mehta from CRISIL.

Stateowned power giant NTPC has bagged 1.9 GW solar projects in CPSU SchemeII tender. With this, NTPC now has over 6.3 GW capacity won through competitive biddings. This shall pave the way for NTPC's plan of 60 GW RE (renewable energy) capacity by 2032, a company statement said.

Banks have always been the backbone of India's economic growth and as the country pivots to sustainable growth, the banking sector will have to accelerate green lending, said SBI Chairman Dinesh Khara on Thursday. He added that there is a growing need to sensitise India's financial sector to the importance and benefits of green finance.