IIT Goa Rallies Key Stakeholder to Catalyse ESG Adoption

The Indian Institute of Technology Goa-Mission LiFE Cell is fast emerging as a platform for eminent sustainability leaders to engage in conversations to catalyse climate action. The Mission LiFE Cell is a unique step within the IIT ecosystem, bringing into limelight the interdisciplinary character of research, outreach, capacity building, education, and training in relation to Panchamarit. 

The two-day workshop on ‘Environmental Regulations: Facilitating ESG & Sustainability For Businesses’ hosted by the institute on 4-5 October focused on various aspects of climate change like Lifestyle for Environment (LiFE), circularity, hard-to-abate sectors, water, climate change and environmental regulations, Panchamrit, and Viksit Bharat. The discussions also touched upon the challenges faced by micro, small, and medium enterprises and value chain partners of BRSR-mandated entities. 

The representatives at the workshop ranged from central public sector undertakings, private sector, central and state governments, academics, and experts from across the country.  

While setting the context, Shri Sundeep Nayak, Professor of Practice, IIT Goa, and workshop chair elaborated on the Environmental, Social and Governance (ESG) landscape in India, various actions taken by the government, how ESG is impacting businesses worldwide, and the need for capacity building. The former IAS officer said, “If we need to handle non-tariff barriers, we need to build our own taxonomy and our framework of assessment.” This point assumes all the more importance in the context of recent developments like the advent of various European Union regulations like Carbon Border Adjustment Mechanism (CBAM). 

Vivek Bhardwaj, IAS, Secretary, Ministry of Panchayati Raj, Government of India, said at the inaugural, “While our weather is changing, our geography too will change in the next few decades due to the conflict between decarbonisation and development.” He added, “MissionLiFE talks about simple changes to our lifestyle; it talks about saving energy and saving water, listing a series of simple 75 steps. In the next 50 years, undoubtedly there will be a very new world.” 

Dr. Satyendra Kumar, Director, Ministry of Environment, Forest and Climate Change, said, “ESG is an investment imperative. If a company is actually following ESG principles, then investors would come in and invest in the businesses or not invest in your businesses depending on how you are performing. The environmental regulations have been there for long, and the laws already align sustainability. We need to understand first the general environmental landscape.” 

Dr. V. Candavelou, IAS, Principal Secretary (Finance) and Principal Secretary to the Chief Minister, Government of Goa, said, “There are two transformative ideas going around the globe: Mission LiFE and circular economy. These two are important as the planet Earth is facing a crisis and resource depletion is happening. ESG is also gaining ground and it should be factored in the operations.” 

In her special address, Surabhi Gupta, Chief General Manager, Securities and Exchange Board of India, said, “We have taken a climate plus approach in our sustainability reporting framework. Globally, countries are focussing on the climate first approach, but they are not considering the entire ‘E’; they are considering greenhouse gas emissions only. Since India is the fastest growing economy, we have big social challenges, which is unlike the developed market; therefore, we have kept ‘S’ on the same pedestal as ‘E’.” 

Nimit Aggarwal, Managing Director and founder, EcoEx, deliberated on Mission LiFE and the principles of circular economy, reflecting on how circular economy can be propelled through learnings from the past and shape young minds, while also keeping a room for growth and evolution. 

The event witnessed eminent green leaders Dattaraj Salgoacar, Chairman, V M Salgaocar Corp Ltd, Goa; Satya Prakash Choubey, Director, Global Energy Alliance for People and Planet (GEAPP); Dr Amit Ranjan Chakraborty, Chief, Environment Management, Tata Steel Ltd; Sanjay Mehta, President, Material Recycling Association of India (MRAI); Dr Yu Jen Huang, Head, Taiwan Green Productivity India; Anil Kumar Yendluri, Managing Director, Vishwa Samudra; Professor Manell Zakaria, International Tech Expert, Expertise France Groupe, AFD; Mahesh Patil, Chairman, Goa State Pollution Control Board;  D N Thakur, National President, Sahakar Bharati; Ashish Kuvelkar, CDAC Pune; Sanjeev Singhal, Executive Director, ONGC;  Auduth M Timblo, Chairman, FOMENTO Resources; Ratnesh, Executive Director, UN Global Compact India, Nimit Aggarwal, Founder and Director, EcoEx; and Akshaya Rath, Co-founder and CEO, EcoEx. 

The workshop was held in collaboration with the Ministry of Environment, Forest and Climate Change (MoEFCC); EcoEx was the industry partner, and the Outlook Group was the media partner.