The conclave saw participation from diverse voices representing policymakers, investors, ratings agencies, global think tanks, business owners, and business leaders
KPMG’s inaugural edition of its Environmental, Social and Governance (ESG) Conclave and Awards 2023 concluded with a first-of-its-kind awards in the areas of E, S and G conferred on 15 companies by Sudhir Mungantiwar, Minister of Forests, Cultural Affairs, Fisheries, Government of Maharashtra.
The winners in the Environment category included Hindalco Industries, Godrej Properties, Tata Consultancy and UPL Limited.
In the Social category, the awardees included Hindalco Industries, Godrej Properties, Wipro Limited, Tata Power Company and HDFC Bank.
Mahindra & Mahindra, Infosys, Tata Power Company and HDFC Bank were winners in the Governance category.
The Composite E+S+G category has Hindustan Unilever and Cipla as winners.
The winners in each of the categories were decided based on a meticulous, data-backed, and objective selection process, and evaluation by an esteemed jury. This was to ensure that deserving achievers and winners were brought to the forefront.
The conclave saw participation from diverse voices representing policymakers, investors, ratings agencies, global think tanks, business owners, and business leaders.
In the panel discussion titled, ‘India Inc: Translating ESG vision into action’, panellists agreed that while action was being taken, businesses and corporates need to show a sense of urgency to mitigate the effects of climate change. They also emphasised the importance of corporate decision-making with the long-term impact in view as the need of the hour.
The second panel discussion titled, ‘Stakeholder capitalism: The new voices shaping the future of business’, focused on how Indian businesses are well-positioned to take action on E, S & G and the support from government and policymakers to enable such action. New regulations and voluntary disclosures have made Indian businesses more transparent and attracted further investments towards ESG in the country.
While delivering the welcome address, Yezdi Nagporewalla, CEO, KPMG in India, said, “Sustainable business practices with regards to ESG today have assumed critical importance in boardrooms requiring businesses to have a long-term strategy. At the heart of our ESG Conclave and Awards is a commitment to working towards aiding sustainable capitalism and green initiatives.”
Sharing his views, Shivananda Shetty, Partner and Head, ESG Advisory, KPMG in India, said “For CEOs and boards today, the disconnect with investors presents a conundrum: Can companies perform well and have a clear vision for their ESG strategy at the same time? We believe it is possible if companies find the right balance between short-term performance and the investments needed to meet longer-term ESG goals. By working together, we can achieve far more on this journey which allows for- strategic thought, sustainable action, and stakeholder impact.”