The Responsible Business Rankings, in its six edition, is a pioneering study. It is based on a comprehensive framework of over 100 parameters based on environmental, governance and social issues or ESG.
In this year’s analysis, key action themes for companies include renewable energy, water, waste and data privacy.
ENERGY – Renewable energy capacity and its utilization have geared up. While solar is the most preferred, biofuel is picking up speed.
WATER – Access to water and management of water resources continues to be a focus area for internal operations and societal initiatives.
WASTE – Initiatives to manage e-waste, municipal waste and plastic reuse & recycling show an increasing trend.
DATA – Customer data and its privacy has become a material aspect in the operations of services companies.
Overall, the top 60% of Indian companies are aligning their responsibility frameworks to the SDGs.
Actions points for business leaders:
- Start to make your companies more efficient or wait until costs rise.
- Redesign products for a more sustainable world or try to play catch up later.
- Wait until your customers/ government demand your carbon footprint report or volunteer the same now.
The tools to make these changes are with us. Technology is evolving at breakneck speed with AI, Big data and leaps in medicine, geo-engineering and space exploration.
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