ESG was first heard in 1997, when the Global Reporting Initiatives became one of the most recognised frameworks for sustainability reporting. Several countries introduced mandatory ESG reporting requirements in 2015 with the Paris Agreement and the 17 UN Sustainable Development Goals. Today, ESG investing has become a force to reckon with, as the total amount of investments managed with ESG criteria in mind has increased from $330 million in 2019 to $1.3 billion in 2023.
As India is on its way to becoming the third largest economy and preparations for Budget 2024 are in the final stages, Indian businesses eagerly await a series of meaningful policy measures that can boost sustainable businesses through higher budgetary allocations. Budget 2023 has allocated USD 1.2 billion to promote green growth in the country. This allocation is expected to increase further given the pivotal role that business plays in green development. Tax incentives will boost investment and attract developers and investors which is otherwise very investment-intensive.
Nowadays, ESG and sustainability are rather fashionable buzzwords and have only been put into practice as an integral part of the presentation of ESG business. Most companies are directly or indirectly affected by ESG and sustainability considerations. The rise of ESG initiatives has drawn attention to the rise of greenwashing, where companies falsely portray themselves as environmental friendly or socially responsible. Many have sought to capitalize on greenwashing, where companies that raise money through the stock markets or by issuing debt instruments have no intention of changing their business practices and where the claimed environmentally, socially, and responsibly conscious stance is just another marketing ploy aimed at extracting as much money as possible from an unsuspecting public.
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Denne historien er fra July 2024-utgaven av Indian Economy & Market.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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NEW INVESTMENT PRODUCT CATEGORY IS SEBI'S LATEST MOVE COMMENDABLE?
The Securities and Exchange Board of India (SEBI) has introduced a consultation paper proposing a new investment product category aimed at addressing a specific market need. This proposed asset class would offer investment options that sit between mutual funds (MFS) and PMS, filling a gap and providing greater flexibility in portfolio management. The new investment vehicle is designed for investors who are prepared to take on riskier market positions but find PMS schemes or AIFs out of reach. SEBI after reviewing the feedback and finalizing the regulations through stakeholder discussions, may issue the final regulations.
DECODING THE CHINA MYTH
Myths die hard. Among these is the great myth that China's poised to take over the world. Here, James Rickards debunks that myth.
What Is In Store For The Indian Economy?
Until the 2014 Lok Sabha elections, when the Bharatiya Janata Party secured 282 seats and Narendra Modi ascended to power, India experienced 21 years of coalition governments. A decade later, the BJP holds 240 seats in the Lok Sabha, and India is once again governed by a coalition. Fitch has indicated that coalition politics and a weakened mandate for the NDA could hinder the passage of ambitious reform legislation. It raises the question: Do coalition governments impede the economic reform agenda?
Transforming The Indian Stock Market
With a rising number of millennials, Gen Z investors, and tech-savvy traditional investors, Robo advisors are making a significant impact on the FinTech and WealthTech sectors. Factors like growing per capita income, favourable demographics, and increasing smartphone and internet Usage further enhance India’s potential as a robust market. Al’s role in stock market analysis is unquestionably growing. It enhances rather than replaces human judgment, providing powerful tools for informed investment decisions.
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\"We believe ourselves to be service providers and not any goods manufacturer\"
THE REALITY OF CORPORATE ESG INITIATIVES
Today, environmental, social, and governance (ESG) considerations dominate business discussions and have become an integral part of the strategies of many organisations in different industries. While some companies are grappling with these new standards and commitments, others, already aligned with the Sustainable Development Goals (SDGs), are well prepared to meet the evolving regulations and standards related to corporate social responsibility (CSR) and ESG.
Standard Capital Markets Ltd. Incorporates Subsidiary for Insurance Broking
Standard Capital Markets Ltd., a leading player in the financial services sector, has announced that it has incorporated a subsidiary under the name of “Standard Insurance Broking Ltd.” to act as a Direct broker under the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018.NOC of Insurance Regulatory and Development Authority of India already taken and now company will also apply for taking Insurance Broking License of Insurance Regulatory and Development Authority of India (IRDAI).
THE IMMINENT MIDDLE EAST WAR
Recent intelligence from a variety of sources points to an Israeli war against Hezbollah, which is an Iranian proxy. Hezbollah is systematically attacking Israeli bases, radars, intelligence-collections facilities and other defense system components. Now the attacks are spreading to include Israeli settlements in the West Bank and Galilee. You’re just not hearing about it in the mainstream media. These attacks have three effects: They break down Israeli military and intelligence systems, terrorize the civilian population and handicap Israel’s ability to conduct air attacks on Syria or Lebanon. James Rickards points out why all these are imminent.
