Please throw light on the ESG scenario in India: Rising prominence, emerging trends, regulatory environment, and way forward.
In India, environmental, social, and governance (ESG) factors are steadily gaining traction. There is increasing collaboration among government bodies and the corporate ecosystem to implement ESG principles, recognizing the urgent need to combat climate change and protect the country’s natural resources. Regulatory authorities such as the Securities and Exchange Board of India (SEBI) have become instrumental in mandating ESG reporting, pushing it beyond mere compliance to focus on impactful, measurable outcomes. For example, Indian companies are taking initiatives to contribute to environmental sustainability by embracing renewable energy, waste management systems, and eco-friendly manufacturing processes. Technological solutions such as cleantech are also aiding these companies in better assessing and reporting their ESG contributions.
At the 2022 Conference of the Parties (COP26) held in Glasgow, United Kingdom, India even presented the following five essential elements of India’s climate action bolstering its commitment to the sustainability agenda:
• Reach 500 GW non-fossil energy capacity by 2030
• 50 per cent of its energy requirements from renewable energy by 2030
• Reduction of total projected carbon emissions by one billion tonnes from now to 2030
• Reduction of the carbon intensity of the economy by 45 per cent by 2030, over 2005 levels
• Achieving the target of net zero emissions by 2070 However, the journey towards an
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