On June 28, 2024, ITC, an Indian conglomerate, announced its use of AI-enabled climate modeling tools to assess climate change vulnerability at 140 locations by 2100. The company is proactively addressing the short, medium, and long-term physical risks of climate change by conducting comprehensive climate risk and vulnerability assessments. These assessments cover key agricultural value chains and operating locations, including factories, hotels, and warehouses. By employing the latest AI technology, ITC is able to project climate risks until 2100, including temperature changes, precipitation, sea level rise, flooding, and extreme weather events. The company has also conducted farm-level studies to understand the potential impacts of climate change on key agricultural value chains, which has helped in refining climate resilience measures. So far, over 140 ITC locations have been assessed for climate risk, leading to the development of tailored adaptation plans and strategies. ITC is committed to pursuing a low carbon growth strategy through various initiatives, such as decarbonization programs, renewable energy use, energy consumption reduction, green building construction, greening logistics, and promoting regenerative agriculture practices. The company is also conducting life-cycle analysis studies to develop sustainable products aligned with consumer preferences for climate-friendly products [f3917b74].
The integration of AI in climate risk assessment and modeling demonstrates ITC's commitment to addressing the challenges posed by climate change. By utilizing AI-enabled tools, ITC is able to assess climate change vulnerability at multiple locations and project climate risks until 2100. This allows the company to develop tailored adaptation plans and strategies to enhance climate resilience. Additionally, ITC's focus on pursuing a low carbon growth strategy and promoting sustainable practices, such as renewable energy use and regenerative agriculture, further contributes to the company's efforts in mitigating climate change and promoting a more sustainable future [f3917b74].