According to the research report, about 61.3 per cent of manufacturing companies in the country expect to see measurable results from their ESG initiatives in the medium to long term, while 13.3 per cent expect results in the near term (zero-1 year). Company IMA India and Unicus Consultech.
Large companies in India revealed that their ESG strategies are fully integrated into their organizational strategies, while small and medium enterprises (SMEs) have some way to go, the findings revealed.
Ethical responsibility and corporate citizenship are the primary drivers of ESG adoption, as cited by 85 percent of respondents, while more than half of them said they are leveraging or exploring 'green finance' and technology for their ESG efforts. But there has been no progress yet.
“Companies are recognizing not only the ethical and regulatory imperatives but also the financial benefits of sustainable practices,” said Suraj Sehgal, research director, IMA India.
The fact that most companies have incorporated ESG into their core strategies and are taking concrete steps towards sustainability is testament to the growing importance of ESG in India.
“We are optimistic about the rise in ESG consciousness and action in India, especially with new technologies that are set to be game changers in driving positive trends across industries,” said Jamil Khatri, Co-Founder and CEO, Unicus Consultech.
India has introduced new ESG reporting requirements for the country's top 1,000 listed companies based on market capitalization.
According to market regulator Securities and Exchange Board of India (SEBI), the disclosure must be made through Business Responsibility and Sustainability Report (BRSR).
Large companies in India revealed that their ESG strategies are fully integrated into their organizational strategies, while small and medium enterprises (SMEs) have some way to go, the findings revealed.
Ethical responsibility and corporate citizenship are the primary drivers of ESG adoption, as cited by 85 percent of respondents, while more than half of them said they are leveraging or exploring 'green finance' and technology for their ESG efforts. But there has been no progress yet.
“Companies are recognizing not only the ethical and regulatory imperatives but also the financial benefits of sustainable practices,” said Suraj Sehgal, research director, IMA India.
The fact that most companies have incorporated ESG into their core strategies and are taking concrete steps towards sustainability is testament to the growing importance of ESG in India.
“We are optimistic about the rise in ESG consciousness and action in India, especially with new technologies that are set to be game changers in driving positive trends across industries,” said Jamil Khatri, Co-Founder and CEO, Unicus Consultech.
India has introduced new ESG reporting requirements for the country's top 1,000 listed companies based on market capitalization.
According to market regulator Securities and Exchange Board of India (SEBI), the disclosure must be made through Business Responsibility and Sustainability Report (BRSR).
