The United Nations’ latest Intergovernmental Panel on Climate Change (IPCC) report projects a rise of 1.5°C in average global temperature by 2030. This spells ‘code red for humanity’ as it can have lasting and irreversible impact on natural systems, resulting in extreme weather and wide-spread climate disasters that can have far-reaching impact on human systems.

The IPCC report also states that limiting warming to only 1.5°C calls for immediate, rapid and large-scale reduction in greenhouse gas emissions. While every individual is responsible in working towards net zero goals, corporations globally acknowledge that they have a significant responsibility to play. They are working with governments in a co-ordinated manner to cut emissions and help countries achieve set national targets.

Over the years, Environment, Society and Governance (ESG) has become a boardroom agenda and corporations are looking at it from a value creation perspective. Recognising the need for a ‘Social License to Operate’, companies are considering the integration of ESG into organisational strategy.

Superior ESG scores augur well for companies’ image and outlook in the eyes of interested stakeholders, especially regulators and investors. ESG Investments are also gaining traction globally as investors feel the need to allocate capital for meeting ESG goals to play their role as good global citizens.

Having 2°C compatible climate targets, India is quite uniquely placed in the global ESG journey. India is on track in terms of expanding the share of non-fossil-based energy resources to 40% of its installed electric power capacity by 2030.

While, ESG in India is still at a nascent stage, many companies are showing willingness to measure their sustainability and investments in areas like environment, social and governance. Key stakeholders like the government, regulatory bodies and asset managers are also taking genuine interest in bringing about a transformational change.

With this backdrop, CII Western Region is organising the 1st edition of the CII WR ESG Summit on Wednesday, 22 September 2021 from 1500-1800 hrs based on the theme ‘India Leading the Sustainability Trust – By staying below 1.5°C’. Mr Shailesh Haribhakti, Chairman, Shailesh Haribhakti & Associates and Chairman, CII Western Region Sub-committee on ESG is chairing the summit. The summit aims to delve into the varied aspects of ESG taking inputs from eminent business leaders from India and across the world.