Canopy Pitches for $15 billion Capital Investment for India to Lead in Alternative Fibres

As the world looks for innovative solutions to reduce carbon emissions and preserve vital ecosystems, environmental NGO Canopy underscores the critical role India can play in this global shift as it has the potential to transform 100 million tonnes of agricultural residues and polyester-cotton textile waste into valuable low-carbon paper, packaging, and viscose for the global markets.

Long Story, Cut Short
  • Canopy has unveiled an ambitious vision for India’s role in the global fight against forest loss and climate change.
  • It envisions India playing a pivotal role in this transformation, with the potential to produce more than 10 million tonnes of NextGen fibres annually.
  • For every tonne of primary forest use displaced by NextGen fibres, there are an estimated four tonnes of GHG savings.
NextGen materials, derived from agricultural residues, discarded textiles and food waste, have the potential to not only reduce reliance on primary forests but also drive a circular economy.
Forest Dependence NextGen materials, derived from agricultural residues, discarded textiles and food waste, have the potential to not only reduce reliance on primary forests but also drive a circular economy. Anoushka Puri / Unsplash

Environmental NGO Canopy sees India emerging as a pivotal player in the production of low-impact alternative fibres. It has set an ambitious goal to catalyse 60 million tonnes of NextGen pulp, paper and textiles globally over the next decade.

  • Canopy envisions India playing a pivotal role in this transformation, with the potential to produce more than 10 million tonnes of NextGen fibres annually.

LOOKING AT INDIA: For every tonne of primary forest use displaced by NextGen fibres, there are an estimated 4 tonnes of GHG savings.

  • This infrastructure transition will require an estimated capital investment of $13 billion to $15 billion in India to build the needed processing capacity.
  • Canopy estimates that $78 billion in capital will be required to support innovation and the development of advanced textile recycling facilities and ag-fibre pulp and paper lines
  • This investment will not only reduce greenhouse gas emissions but also create new jobs, provide alternative livelihoods for farmers, reduce supply chain volatility, and help India emerge as a leader in the sustainable materials sector globally.
  • Detailing the above is a new opportunity paper — Unlocking India’s NextGen Economy: The Untapped Investment Frontiers in Material Substitution in India’s Textile and Pulp and Paper Industrieswhich said that India can emerge as a pivotal player in the production of low-impact alternative fibres.
  • These NextGen materials, derived from agricultural residues, discarded textiles and food waste, have the potential to not only reduce reliance on primary forests but also drive a circular economy, green jobs, and alleviate secondary health and environmental issues.

TAKING THE LEAD: Domestic support for this India-led transition is building with leading brands like Flipkart and Anita Dongre as well as viscose producers like Birla Cellulose at the forefront of this NextGen transformation.

  • They join 980+ global Canopy partners, including Inditex, Walmart, H&M, adidas, Amazon and Penguin Random House, in incentivizing the transition from conventional ‘take, make, waste’ production to the circular low-carbon economy. 

WHAT THEY SAID:

India has all the ingredients — abundant feedstock, technical expertise, and a culture of innovation. What’s needed now is targeted investment, industry collaboration, and government support to scale this vision into reality.

Nicole Rycroft
Founder and Executive Director
Canopy

 
 
  • Dated posted: 17 September 2024
  • Last modified: 17 September 2024