The 6th edition of the Responsible Business Rankings brings to you how India’s top companies are gearing up to tackle the responsibility challenges that face us today. In the world of climate change the challenges are immense, but so are the opportunities for change.
While remarkable changes have occurred in the recent past, much more needs to be done for us to achieve decarbonization, equity and transparency. The Paris Accord of 2016 required countries to develop sustainable business practices and reduce the impact of their emissions to diminish the impact of climate change, waste and water management. Further, in 2017, the United Nations set out an ambitious programme called sustainable development goals (SDGs), covering 17 goals and 169 interlinked targets. Attainment of SDGs requires significant effort from both the governments as well as the private sector. The SDGs have the potential to provide a framework for mobilizing companies to invest in sustainable development in an ongoing and scalable way, while also pursuing their own business interests. The SDGs are forecast to generate market opportunities of over $12 trillion a year by 2030. Some believe it’s a conservative estimate.
Although it is early days, we notice that Indian companies have already taken to SDGs with many companies mapping their activities to the SDG.
This years’ report is split into two parts. The first part examines the role of the SDGs in the Indian context. The second part covers performance of companies on Environmental, Social and Governance issues.
We look forward to your thoughts and comments on the study.
A big thanks to Prof Janat Shah, Director, IIM Udaipur without whose support the study would not have been possible. A special thanks to our lead researcher Neelam Agrawal who led the research and Supriya Lobo who supported her.
Namrata Rana and Utkarsh Majmudar have authored the book, Balance: Responsible Business for the Digital Age published by Westland Publishers.