Environmental, social, and governance (ESG) investing is used to screen investments based on corporate policies and to encourage companies to act responsibly.Of the overall private equity and venture capital investments of $61.6 billion in India, as much as 13 per cent or $7.9 billion came through the ESG route in 2022, as per an industry analysis.ESG investment is largely concentrated in clean energy (solar and wind power) and electric mobility — which contributed to around 90 per cent of the $19.2 billion invested in ESG across 2018-22. Clean energy, especially solar, saw strong deal activity in 2022 with investments of $5 billion. Trillions of USD are available for funding for ESG compliant companies in India
To create an awareness of this important investing aspect of ESGThe Goa chamber of commerce and Industries in association with International institute of CSR and Sustainability organised a Workshop on Environmental Social and Governance on the 16th July’23.
Hon’ble Minister for Environment, PWD & Law & Judiciary Mr Nilesh Cabral was the Chief Guest for the event with GSPCB Chairman Mr Mahesh Patil& GCCI Vice President Ms PratimaDhond as the guest of Honour.
The Hon. Minister stressed on all the three Pillars of ESG, Environment, Social & Corporate Governance citing the example of plastic waste. Govt of Goa has been implementing various measures to control plastic waste but the result is not encouraging. Last 14 years he has been collecting waste in his constituency free of cost he said but the crux comes from managing & processing it. Goa may be generating lot of waste but when it comes to managing & treatment we are far ahead of other states he added.
To further control plastic waste Govt of Goa will shortly come up with a legislation of “ Deposit Refundable scheme” he said. All Plastic containers like water bottles, Pouches ,satchels, bags etc will be charged a deposit which will be refundable on return of the empty packet. The maximum environmental damage is caused by very small packets which are the most difficult to gather. Govt is working to control the same.
He congratulated the participants on the excellent ESG presentation made on key sectors like Real Estate, Dairy, Palm Oil, Oil & gas & menstrual Hygiene. Deliberations were held on the Oil Spillage which affects the Goan Coasts.
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Shri Mahesh Patil, Chairman of Goa state Pollution control board stated we can’t get rid of plastic . Each person has 40% to 60% of plastic on his body including his clothes &accessories ,so we have to find solution to address it individually . Plastics cannot be completely eliminated but usage needs to be controlled. The current Extended Producers Responsibility ( EPR scheme) needs improvement & work on the same is in progress he added. He encouraged Corporates play the key role in achieving the SDGs.
Ms PratimaDhond GCCI Vice President said that though ESG reporting is in nascent stage in India the last decade has seen dramatic changes for the better. The number of companies voluntarily disclosing ESG related data has increased. This is an opportunity for Goan Companies to take advantage of the International Investment Market.
The event also had presentations from Masters in ESG participants on integration of ESG in business in the industry sectors such as Oil and gas spillage, menstrual hygiene, palm oil product dairy foods & others.
Ms Harsha Saxena, Founder IICSR group & Mr Sanjay Amonkar Director General of GCCI were also present & shared their views on ESG..
The occasion marked the certificate award ceremony for all the graduates of IICSR students studying CSR, sustainability and ESG
