Aligning Business for Impactful Environmental, Social & Governance Journey

Indian Chamber of Commerce (ICC) organised its 16th Environment Partnership Summit to discuss the strategies and implications of the Environmental Social, and Governance (ESG) Journey. The session witnessed valuable insights from Mr. Kamalesh Kumar, General Manager, NABARD, Dr. Krishna Nirmalya Sen, Chairman, ICC OHSE Committee & Head- EHS, L&T MMH, Mr. Aloke Mookherjee, Chairman Jury Board, ICC Environment Excellence Award, Prof. Dipankar Dasgupta, Director, IISWBM, Mr. Sudipta Mukherjee, ED (Generation), CESC Limited and Dr. Rajeev Singh, Director General, ICC.

While welcoming the business entities, Director General, Indian Chamber of Commerce, Dr. Rajeev Singh, said, “I would like to call the people in this room champions as they have immensely contributed to our environment from their respective sectors. The G20 agenda has a huge role to play in respect of climate change as it will be more intense in the near future and have a huge impact on livelihood, agriculture, and various other businesses. There are policymakers and governments who have taken up this initiative to contribute to these changes. Today, our country’s economy is looking forward to a sustainable and greener environment, which is why MSMEs need to be educated as they create a huge impact to provide a better greener solution.”

Commenting on ESG strategy, ED (Generation), CESC Limited, Mr. Sudipta Mukherjee, said, “Today power is a major factor that is contributing hugely on the environment and therefore many countries have therefore taken up the initiative of less power consumption. So in terms of business, this is a challenge but sustainable changes will help to find resolution and gain more loyal customers. We should therefore evaluate the opportunities and risks. We need to observe the current situation and take the required steps to build our businesses. ESG strategy is to control carbon emission and cure our planet. We need to focus on energy utilisation and keep a good check on our products and their contribution to the environment. Lastly, we need to monitor if we are moving at the right path. This should be a continuous process for our sustainable development as we need to emphasize on bettering our future.”

Commenting on environmental concerns, General Manager, NABARD, Mr. Kamalesh Kumar said, “The biggest challenge we face is Climate Change. This time Kolkata has experienced the coolest winter. These factors have an immense effect on livelihood, business, etc. Actions have to be taken as we are the people who are responsible for these disasters. During Covid-19, the healing of ozone was a blessing and that happened because there was less pollution. Ninety-six percent of the farmers are marginal and get hugely affected due to this change. They find it difficult to manage their products because they have less surplus to contribute to the market and earn. The need of the hour is investment and government support which can provide us with greener solutions.”

Commenting on the importance of ESG, Chairman Jury Board, ICC Environment Excellence Award, Mr. Aloke Mookherjee said, “Today, we have to think about a different perspective regarding business to employ greener solutions in operations. A company’s sole responsibility is not only to make money for the stakeholders, shareholders, and employees. ESG initiative is its roadmap to success in its environmental responsibility, as we should not only focus on earning incentives but rather invest in the environmental development of our society. A company needs to look into all the fundamental factors to bring changes in both the organisation and the environment. I would say business can only attract loyal customers when it is conscious of its social responsibilities. This is the reason we are gradually realising the fact that sustainable businesses can build a sustainable planet.”

Commenting on the social impact of ESG, Director, IISWBM, Prof. Dipankar Dasgupta said, “ESG aids in building Public Relations Strategy for every business entity as it hugely contributes to the environmental development and also influences the customers on the social responsibilities. Henceforth companies need to participate actively in these activities. CSR is already inscribed in the legislature, we just need to include it in our corporate framework.”

While delivering the Vote of Thanks, Chairman, ICC OHSE Committee & Head- EHS, L&T MMH, Dr. Krishna Nirmalya Sen said, “This event brings a huge opportunity to the entrepreneurs present here to understand the efficiency of ESG in addressing our social concerns. I believe there should be sincere efforts from all the businesses which can make this intangible initiative a meaningful path to a sustainable planet.”

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