'ESG conference for Industry Transformation – ESG for Atmanirbhar Bharat' to be held in Mumbai

IAS Prelims 2023


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Ministry of Environment, Forest and Climate Change and National Productivity Council, autonomous organisation under DPIIT, Ministry of Commerce and Industry, Government of India is organising the ‘ESG conference for Industry Transformation ESG for Atmanirbhar Bharat’ on 29 November 2022 to facilitate the corporate sector and the Central Public Sector Enterprises (CPSEs) achieve higher goals in ESG framework and to promote wider adoption of ESG measures by the industry. National Productivity Council (NPC) organised a curtain raiser press conference ahead of the conference in Mumbai today.

Addressing media persons about the upcoming conference, Director General of NPC Shri Sundeep Kumar Nayak (IAS) said that the ESG conference in Mumbai is the third one in the series; the first two conferences were held in New Delhi and Chennai. “During the COP26 held in Glasgow in 2021, Prime Minister Shri Narendra Modi had announced Indias commitment towards curbing greenhouse gas emissions and transitioning to clean energy source. In COP27, India has outlined its roadmap. Indias ensuing Presidency of G20 the country is expected to showcase her progress and achievements across a range of sectors including industry, environment, infrastructure and so on

The Director General of NPC said that SEBI has mandated the top 1,000 listed companies in India to furnish Business Responsibility and Sustainability Report (BRSR) as a part of their annual reports. “We feel that implementation of BRSR mandate by SEBI will not only enhance sustainability of industries improving their overall performance and compliance of various environmental regulations and conditions, but also would supplement in improving their profitability”.

Speaking about the Nation Productivity Council, The Director General of NPC said The NPC has been working in the field of environment, energy and waste management since the midnineties”.

 

About ESG Conference:

The conclave will discuss adoption of ESG into business strategies for competitiveness, sustainability, and resilience. Participation of business leaders and senior level executives dealing with ESG from different organizations is expected.

The ‘ESG conference for Industry Transformation ESG for Atmanirbhar Bharat’ is targeted to benefit the corporate/industries to make them competitive, resilient and sustainable in terms of:

Sensitization about various dimensions of sustainability

Discussion about reporting & compliance under BRSR framework of SEBI

Best practices adopted in terms of resource efficiency, socioeconomic measures, community development, corporate governance practices etc

Discussion of challenges/ issues faced by industries

Way forward for Indian corporate and industries for industrial transformation and emerge as global leader in terms of sustainability

Integrating ESG agenda into business strategy and source of competitive advantage

 

Background of the ESG Conference

With the everchanging business environment, the investors and stakeholders seek business to be not only responsible but to be sustainable towards the environment and society. In recent years, adapting to and mitigating climate change impact and transitioning to sustainable development have emerged as major issues globally. Further, Global sustainability challenges such as demographic shifts, flood risk and rising sea levels, privacy and data security, and regulatory pressures, are introducing new risk factors for investors that may not have been seen previously. As companies face rising complexity on a global scale, investors may revaluate traditional investment approaches. Therefore, the concept of ESG (Environmental, Social and Governance) which comprises the holistic approach for companies to remain responsible to its investors as well as stakeholders while complying with various environmental, social and governance regulatory risk.

NPC has so far organized two conclaves, as part of our pan India ESG series. The first one was held in partnership with the Department of Public Enterprises, Govt. of India on 29th July 2022 at New Delhi. It focused on CPSEs to be future ready from the ESG point of view.

Similar, conclave was organized for the private sector in Chennai on 12th September 2022, with event support from CII, Southern Region. Both the conclaves had large participation from CPSEs and private company professionals with wide coverage in print and electronic media.

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Source PIB