"Indian B-Schools and 3Cs: Leading ESG Adoption in India from Grassroot Levels
Centre For Social Sensitivity and Action (CSSA), GIM
To promote social responsibility within and beyond Goa Institute of Management to achieve the goals of Agenda 2030
CSSA ESG Series
A new article titled "Indian B-Schools and 3Cs: Leading ESG Adoption in India from Grassroot Levels" by Goa Institute of Management (GIM) student Shashank Jain , serving as a precursor to the forthcoming National Conclave on ESG - 24 Nov 2023. #GIM is organising this conclave in collaboration with the UN Global Compact Network India and the Goa Chamber of Commerce & Industry (GCCI). The conclave is supported by Principles for Responsible Management Education (PRME) India Chapter.
ESG (environment, social, and governance) concepts are becoming increasingly significant for organizations worldwide, including India. However, just 27% of Indian businesses are prepared to meet ESG regulations, indicating that ESG adoption in the country is still in its infancy (Source: Deloitte ESG Preparedness Survey). Nonetheless, per KPMG, Indian CEOs (77%) are now beginning to understand the need to implement ESG regulations. A new approach can be expedited through business schools or more popularly known as B-schools across India.
B-schools are crucial in determining the direction of corporate leadership in the future, and they need to modify their curricula to help the upcoming generation of executives succeed in the challenging field of sustainability. B-schools can hasten the adoption of ESG in India.
They can create ESG-focused curricula, provide ESG-related specializations, and collaborate with businesses and government, to raise faculties' and students' understanding of ESG issues. This will assist the next generation of business leaders to run sustainable enterprises in the future and negotiate the difficult world of sustainability. Another important thing is to remember the 3Cs for ESG enactment.
The 3Cs: communication, collaboration, and commitment are vital factors that propel the implementation of ESG.
? Commitment: To gain the trust of stakeholders and investors, businesses must set clear ESG goals and uphold moral business practices.
? Collaboration: To progress sustainability projects, businesses must work with academic institutions, governmental bodies, and environmental groups.
? Communication: To inspire others to embrace ESG principles and promote good change, businesses need to be transparent about their ESG initiatives and advancements.
By following the 3Cs—commitment, collaboration, and communication—business schools can play a critical role in generating leaders who are prepared for a sustainable and prosperous future. Adopting an ESG culture gives Indian businesses a shot at long-term success, sustainability, and innovation. Moreover, one must understand that ESG principles is not simply required; it's an investment in a better, more sustainable future for everybody.
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References:
2)??? https://kpmg.com/in/en/home/insights/2022/10/kpmg-2022-india-ceo-outlook/esg-nuanced-approach.html.
3)??? https://www2.deloitte.com/in/en/pages/about-deloitte/articles/ESG-preparedness-survey-report.html.
Goa Institute of Management (GIM) is hosting a National Conclave on the theme ‘Lead, Act and Report on Environment, Social and Governance: Dialogue for a Sustainable Future’. The conclave will present an opportunity to discuss, deliberate and explore ESG vision, corporate strategies, funding approaches, technology applications, and the right set of reporting guidelines for an accelerated transition to a sustainable future. For more information, see the link- https://esgconclave2023.gim.ac.in/
Professor at Goa Institute of Management, Goa, India; additionally Chairperson- Centre For Social Sensitivity and Action (CSSA) at GIM and #ThinklistImpact #ThinklistAmplify
1 年Thank you for your contribution Shashank Jain