Construction Industry News
Institute of Risk Management (IRM) India Affiliate has signed a Memorandum of Understanding (MoU) with UltraTech Cement Limited to work to improve Enterprise Risk Management (ERM) and risk intelligence in the cement sector.
The organization will work with UltraTech to raise awareness about ERM and build industry resilience.
The partnership is part of IRM India Affiliate's long-term vision to build risk resilience and a robust ecosystem of risk-intelligent organizations across industries. As part of this knowledge partnership, IRM India Affiliate and UltraTech Cement will host webinars, roundtables, industry meetings and knowledge leadership articles for knowledge building for the industry.
Atul Daga, Executive Director and CFO, UltraTech, has also joined the Strategic Advisory Board of IRM India Affiliate.
According to an RBI Bulletin, India's cement industry has made remarkable progress, cutting carbon dioxide emissions by 36 percent between 1996 and 2017, from 1.12 t/t to 0.719 t/t between those years, the company said.
India's cement industry ranks second in the world after China in terms of production and consumption, and is considered one of the most environmentally conscious industries with the lowest carbon footprint.
More than 250 million people are likely to move to India's cities in the next 20 years. This will create a huge demand for cement and may lead to an increase in the use of inputs. In the process, this would give rise to the need for mitigation strategies to avoid environmental, sustainability, health, natural resources and cybersecurity risks. The role of the ERM will be crucial in ensuring that these objectives are achieved.
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