Social consciousness is increasingly becoming a differentiating factor for businesses globally and therefore corporates and small and medium enterprises in India should strictly adhere to ESG (Environmental, Social, and Governance) standards, urged Geetanjali Kirloskar, chairperson and managing director, Kirloskar Systems and chairperson, Toyota Tsusho Insurance Broker India.
This trend was driven by the fact that organisations across the globe preferred to do business with companies that have a reputation for sustainability, and ethical governance hence it was important for Indian businesses to embrace ethics, better governance and social consciousness, she said, while speaking at the opening session of Bangalore Chamber of Industry and Commerce (BCIC) Leadership Forum 2023-24 here on Friday.
“It is imperative that larger companies work with their suppliers in decarbonising their value chain. Going forward, social consciousness will be a differentiating factor for businesses and leaders need to ensure strict adherence to ESG standards, failing which India will not be able to meet its ESG goals for 2030,” Ms. Kirloskar cautioned.
