As the 30th edition of the Conference of the Parties (COP 30) concluded in Brazil, discussions on climate change once again underscored the need for coordinated global action and accessible climate finance. The outcome reinforced the relevance of Environmental, Social, and Governance (ESG) integration in business strategy, particularly for organisations seeking long-term resilience and competitiveness.
Against this backdrop, the Institute of Company Secretaries of India (ICSI), a statutory body promoting good corporate governance practices, has reiterated the role of principle-based stewardship in supporting sustainable value creation. The Institute has framed stewardship as the responsible management of assets and stakeholder relationships with a focus on long-term outcomes. In this context, it developed the ICSI guiding Principles on Stewardship (IGPS).
The International Financial Services Centres Authority (IFSCA) has recognised the IGPS for adoption by Fund Management Entities and Institutional Investors operating within International Financial Services Centres. The aim is to strengthen investor responsibility and safeguard the interests of clients, beneficiaries, and society.
Centred on long-term value and sustainability, the IGPS encourages stewards and investors to promote governance approaches that extend beyond basic compliance. It also positions institutional investors and fund managers as key influencers capable of guiding companies away from short-term gains and towards long-term value creation. This includes encouraging the adoption of a structured ESG framework that prioritises sustainable growth.
To support practical application, the ICSI introduced a stakeholder engagement toolkit on ESG earlier this year. Designed to complement the IGPS, the toolkit provides guidance to Company Secretaries and Boards on developing a comprehensive ESG policy and establishing an effective engagement strategy.
In addition, the Institute unveiled the ICSI Principles on Climate Change Governance (IPCG) to strengthen transparency in climate-related disclosures. The framework advises entities on developing metrics and targets to assess sustainability performance and monitor progress towards climate goals.
Commenting on these initiatives, ICSI President CS Dhananjay Shukla stated that integrating climate considerations into business requires a structured approach supported by clear principles and guidance. He noted that the Institute aims to provide organisations with the tools and professional expertise needed to implement such frameworks effectively.
ICSI Secretary CS Asish Mohan added that climate change demands strategic action from corporations, investors, and other stakeholders. He explained that the Institute intends to use its position to promote principles-based governance and support sustainable development across the corporate ecosystem.
Through these initiatives, the ICSI aims to advance climate governance, strengthen ESG adoption, and encourage long-term stewardship across India’s business and investment landscape.
