While a strong policy framework is in place for reporting on ESG, what are the trends in ESG that communicators should understand?
Let's take a look at what the media is saying about ESG in India.
Environment over Social Impact and Governance
Environment, especially the shift to renewable energy is what will drive the ESG agenda in India. According to Prerna Liddho in BT magazine, "investments are taking place in mostly environment-related issues such as climate change, waste management and deforestation."
Climate tech is on top of the agenda with funds such as Mumbai-based Avaana Capital raising 70 million dollars in June this year as part of its second climate and tech-focused fund that will focus on 3 main sectors responsible for the bulk of emissions in India that includes mobility and supply chains.
Supply chain challenge
According to a review by NASSCOM, there is a growing interest in sustainable and ethical supply chains. This represents a major challenge for brands as well as communicators.
Sustainability investors are looking for proof of the company's commitment to sustainable practices for its supply chains.
Another deep area of interest is optimising water usage. The tech that can help sectors such as fashion, mining and textiles minimize water wastage is gaining investment traction.
Look at the S in ESG
In a detailed article for the Times of India, Benjamin Lin, President, of Delta Electronics India, advises companies to not miss out on the social impact of ESG even as SEBI has enhanced ESG reporting. Lin suggests looking at aspects such, as "employment opportunities, employee welfare, worker safety and training, human rights protection, social impact assessment, gender equality, and women empowerment."
B Lab is the nonprofit network transforming the global economy to benefit all people, communities, and the planet. B Lab offers the prestigious B Corp certification for companies
The PRmoment Tracking Purpose, Tech, Digital Comms, presented by SPAG-FINN PARTNERS aims to answer questions weekly on the intersection of purpose with tech and digital communications.