Sustainability Karma

India's first and only show on sustainability on All India Radio

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International ESG Day 2024:  Industry leaders reaffirm commitment to sustainability

International ESG Day on November 30 serves as a beacon, urging businesses to make sustainability a cornerstone of lasting success. It inspires organisations to innovate, adapt and collaborate, fostering a future where thriving businesses align with environmental, social and governance principles. Sustainability Karma brings together representative voices of the industry to share their insights on the occasion.

Sankar Chakraborti, Chairman – ESGRisk.ai and Group CEO – Acuité Group

“As stringent regulations and heightened investor awareness reshape the ESG landscape, genuine sustainability efforts are emerging as a competitive advantage. With India positioned as the preferred destination for global corporations implementing the China+1 strategy, robust ESG assessments, rigorous audits, independent validation and transparent reporting of voluntary disclosures will enhance governance and attract responsible investments, ensuring long-term business success.”

Ashvin Patil, Founder and Director, Biofuels Junction

“Sustainability and green fuels are clear focus areas under Environmental, Social, and Governance (ESG) objectives, and biofuels offer a sustainable decarbonization pathway for India Inc. By utilizing biofuels produced from agricultural waste in industrial boilers to replace fossil fuels, companies can lower production costs while significantly reducing their carbon footprint. This approach supports farmers by providing additional income for crop residues, effectively addressing environmental challenges like stubble burning. Additionally, adopting biofuels decreases India’s reliance on imported oil, enhancing energy security and resilience to global risks, making them a strategic and environmentally responsible energy solution that aligns with ESG priorities.”

Shruti Jain, Chief Strategy Officer, Arihant Capital Markets

“Smart investors know that integrating ESG isn’t just the right thing to do but it’s a financially savvy move. Companies tackling ESG risks head-on face fewer disruptions, gain more trust, and deliver reliable results. It’s a win-win for your portfolio and the planet.”

Ayashkanta Rout, Head, Sustainability & CSR, Oberoi Realty

On World ESG Day, we reflect on the vital role sustainability plays in shaping the future of our cities. For the real estate sector, integrating Environmental, Social, and Governance (ESG) principles goes beyond being a strategic decision – it’s a fundamental responsibility. From incorporating energy-efficient practices in construction to nurturing inclusive communities, each choice we make helps pave the way for a more resilient, sustainable tomorrow. Let’s dedicate ourselves to developing cities that benefit both people and the planet, ensuring a better tomorrow for generations to come.”

Dipankar Ghosh, Partner & Leader, Sustainability & ESG, BDO India

“This International ESG Day highlights the critical role of Environmental, Social, and Governance (ESG) factors in shaping sustainable business practices and fostering responsible investing. In a world increasingly defined by uncertainties, ranging from energy challenges and environmental concerns to the impacts of climate change and social inequality, embracing a robust ESG framework is essential. By prioritising responsible corporate behaviour and governance that focuses on the well-being of both the planet and its people, businesses are driving long-term value and contributing to a more sustainable, equitable future. Adopting ESG principles ensures better-informed strategic decisions, thus ensuring preparedness for unexpected events or changes in the business ecosystem. Welcoming every business in this transformative journey.”

Radhika Kalia, MD, RLG Systems India

“On International ESG Day 2024, we reaffirm our commitment to sustainability and the importance of ESG. A cornerstone of business success today, ESG is more than just an ethical construct; it has immense strategic long-term value fostering resilience and driving innovation. ESG-abiding companies would thrive in the competitive global marketplace.”

Smitha Shetty, Regional Director, APAC, Achilles Information

“ESG has transcended mere compliance to become a core business imperative. It’s no longer just about mitigating risk, but about driving innovation, building resilience, and unlocking new value by aligning an organisation’s operations with the needs of both people and planet. Companies with robust ESG strategies are attracting conscious consumers and investors, while future-proofing their operations in a rapidly changing world.  In today’s interconnected landscape, strong ESG performance is a defining attribute for long-term success and a key differentiator in a competitive market.”

Purvi Sanghvi, Director and ESG Head, Axis Solutions

“In the modern business world, ESG has transcended from being a supplementary practice to a defining measure of success. Organisations that embrace ESG principles not only contribute positively to society but also drive financial performance. By embedding environmental sustainability, social equity, and robust governance into their core operations, businesses are gaining a competitive edge, enhancing operational efficiency, and building stronger relationships with stakeholders. In an era where consumers and investors demand accountability, ESG is the key to thriving in an increasingly conscientious global marketplace.”

Manil Aggarwal, Founder, Sustenable

“Environmental, Social, and Governance (ESG) reporting will become crucial for businesses to gain and maintain their social license to operate. It ensures transparency and is vital for long-term success in a world increasingly focused on sustainability.

Firstly, ESG reporting allows companies to address harmful practices, helping them “clean up shop.” It enables CEOs to move away from profit-at-all-costs models, balancing profitability with accountability and aligning with societal values. Secondly, ESG performance is critical for attracting talent. Many professionals, especially in the white-collar sector, now assess a company’s environmental and social impact before joining, making strong ESG practices key to innovation and competitiveness. Lastly, buyers and investors prefer brands with neutral or positive impacts. Transparent ESG reporting builds trust, fostering loyalty and investment. Far beyond compliance, ESG reporting is a strategic tool for fostering trust, enhancing recruitment, and securing business success in a rapidly evolving global landscape.”

Samarth Kholkar, CEO and Co-Founder, BLive

“The role of Environmental, Social, and Governance (ESG) principles in driving business strategy has become increasingly evident, particularly in a dynamic market like India. ESG is no longer a compliance checkbox but a critical factor shaping innovation, resilience, and value creation. In India, sustainability-focused policies such as the PM e-Drive initiative and the push for clean mobility are reshaping industries. The EV market is a prime example, projected to grow at a staggering 49% CAGR by 2030, driven by increasing demand for electric two-wheelers and government incentives. Businesses aligning with ESG principles are well-positioned to capitalise on this trend, with the EV segment alone expected to generate over Rs 1.5 lakh crore in revenue by the end of the decade.”

Anu Chahudhary, Partner and Global Head of ESG Consulting, Uniqus 

“Organisations that have treated sustainability as a strategic imperative have seen long-term business model resilience. They attract better long-term investors, have a workforce aligned with the organization’s goals, have sustainable and customer-centric products, and have a better footprint on people, the planet, and profit.

Investors today consider companies’ climate strategies and governance alongside financial metrics, rewarding those with strong ESG performance. Meanwhile, purpose-driven consumers prefer sustainable products, which grow 28% faster and are more loyal to brands with solid ESG commitments. For employees, companies aligning ESG strategies with social impact see increased engagement and retention.”

Y. R. Nagaraja, Managing Director, Ramky Infrastructure

“Businesses now perceive sustainability as a key driver of value creation, both in their product portfolio and stakeholder value. Emphasis on climate action is driving stronger customer loyalty, improved supply chain efficiency and innovations in both product design and business operations. Approaching business sustainably is seen as leveraging the opportunity, and companies that embrace this approach have proven to be better positioned for long-term success. Businesses in every industry are now proving that integrating ESG compliance into business strategy offers clear benefits for growth.”

Vivek Tripathi, Co-Founder & CEO, Olive Gaea 

“ESG is no longer a choice but a defining attribute of business success. Companies embracing sustainability, ethical governance, and social responsibility are not only driving positive change but also unlocking long-term value, building trust, and ensuring resilience in a rapidly evolving global economy.”

Vivek Mehra, Co-founder and Chief Sustainability Officer, Onlygood.ai

“ESG metrics now transcend profitability, defining true business value. Companies excelling in sustainability and governance are achieving competitive advantages by aligning operations with environmental and social priorities. This dual focus not only drives growth but also contributes meaningfully to global climate action and equity, creating a foundation for long-term success.”

Ramnath Vaidyanathan, AVP and Head of Environmental Sustainability– Good & Green, Godrej Industries Group

 “Sustainability is a non-negotiable, like oxygen for businesses. I see it as the not-so-secret ingredient for long-term success and a differentiator for brands. It not only makes business sense but also increases resilience to physical risks and shields against market volatility. Businesses will thrive when they will have people, planet alongside profits.”

Sureshbabu Chigurupalli, Vice President and Head of Ferro Alloys, Indian Metals and Ferro Alloys

“On this International ESG Day 2024, we recognise that Environmental, Social, and Governance (ESG) considerations have become pivotal in shaping the future of business. As global challenges intensify, from climate change to social inequality, the integration of ESG principles is no longer a mere trend but a fundamental requirement for sustainable success. Companies that prioritise ESG are not only responding to stakeholder demands but are also positioning themselves to thrive in a rapidly evolving marketplace.”

Shailendra Shukla, Managing Director, Mobility Group, Eaton, India 

“International ESG Day emphasises the need for progress that prioritises people, planet, and purpose. At Eaton, we are committed to advancing sustainability, championing equity, and upholding strong governance. Through our innovative power management solutions, we aim to create lasting value and a brighter future where innovation drives positive change. By advancing energy efficient technologies and engaging our teams in enhancing sustainability efforts such as green manufacturing and sustainable procurement – we are building a long-term value and contributing to a cleaner and greener future for all.”

Vikas Kamra, Co-founder and CEO, Valiance Solutions

“ESG is no longer optional; it’s essential for long-term business resilience and societal impact. As an AI-driven company, we leverage technology to monitor, measure, and optimise ESG initiatives, empowering organisations to drive sustainability, enhance transparency, and build a better future for all stakeholders.”

Karan Mehta, Venture Principal, Green Frontier Capital

“Today, more than ever, embracing ESG principles has become vital for tackling the pressing environmental challenges we face and ensuring that businesses and societies remain resilient and adaptable for years to come. But financial resources alone are not enough. ESG Day is a call to action—a reminder of our shared responsibility to support transformative ideas, redefine economic success, and ensure that future generations inherit a thriving, vibrant planet.”

Pallavee Dhaundiyal Panthry, Chief Communication Advisor – Sustainability, World of Circular Economy (WOCE)

“ESG Day on November 30 goes beyond a symbolic gesture. It is a powerful reminder that sustainability, equity, and ethical governance are vital to the future of both people and businesses worldwide. ESG is no longer optional; it’s the bedrock of a progressive organisation.Today, businesses must view ESG as a holistic framework that integrates environmental responsibility, social accountability, and strong governance. Failing to embrace these principles risks alienating stakeholders, losing investor confidence, and sacrificing market relevance in an era defined by sustainability.”