Canopy, a global not-for-profit organisation, has released a new report outlining India’s potential to drive low-carbon innovation in the textile and pulp and paper industries. The report, titled Unlocking India’s Next Gen Economy: The Untapped Investment Frontiers in Material Substitution in India’s Textile and Pulp and Paper Industries, was presented at Prabhav 2024, an investment forum hosted by the India Impact Investors Council (IIIC).
Key Highlights of the Report:
The report highlights India’s capacity to convert 100 million tonnes of agricultural residues and two million tonnes of polyester-cotton textile waste into low-carbon materials like paper, packaging, and viscose, which could benefit both Indian and global markets. Canopy aims to catalyse 60 million tonnes of Next Gen materials, globally sourced from agricultural residues, discarded textiles, and food waste, over the next decade.
What Role Does India Play?
“India has all the ingredients — abundant feedstock, technical expertise, and a culture of innovation,” said Nicole Rycroft, Founder and Executive Director, Canopy, in underscoring the critical role India can play in this global shift. “What’s needed now is targeted investment, industry collaboration, and government support to scale this vision into reality.”
Canopy estimates that $78 billion USD in capital will be required globally to support innovation and build advanced recycling and ag-fibre pulp and paper facilities. India alone could produce over 10 million tonnes of Next Gen fibres annually, which would require an estimated $13 to $15 billion USD in infrastructure investment.
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. For every tonne of primary forest use displaced by Next Gen fibres, there are an estimated four tonnes of GHG savings.
“While this is a relatively new investment area, low-impact fibres and materials will become a crucial strategy as the world moves rapidly towards decarbonizing industrial manufacturing,” Nicole added. “We are excited to work with all of the ecosystem actors as India accelerates the scaling of Next Gen materials.”
Brand Collaborations:
Canopy is working with Indian brands like Flipkart and designer Anita Dongre, along with viscose producers such as Birla Cellulose, to drive the shift towards sustainable materials. These efforts align with the initiatives of over 980 Canopy partners, including Inditex, Walmart, H&M, adidas, and Amazon, all of whom are pushing for a transition from conventional production methods to a circular, low-carbon economy.
About Canopy:
Canopy is an award-winning, solutions-driven non-profit organisation founded in 1999. Their mission is to end deforestation and degradation of the world’s critical forests by transforming unsustainable supply chains. Canopy has partnered with over 900 companies, including brands like Inditex, Amazon, Flipkart, H&M, Uniqlo, LVMH, PVH, and House of Anita Dongre, to eliminate the use of Ancient and Endangered Forest fibre within the fashion, paper, and paper packaging supply chains.
