‘Integrating planet, people and profits with business functions is crucial’

 

 

 

 

 

Institute of Management Technology, (IMT) Nagpur in association with Vidarbha Industries Association (VIA) and National Human Resource Development Network (NHRDN), Nagpur Chapter hosted a panel discussion on “Integrating Environmental, Social and Governance (ESG) into Business Strategies” on Thursday. Dr Bigyan Verma, Director, IMT Nagpur, and President, NHRDN, Nagpur Chapter; Professor Amitava Banerjee, IICA-MCA certified Independent Director; and Dr D G Garway, Director, Anacon Labs, Nagpur; were the panelists while CA Girish Deodhar, Chairman - VIA MSME Forum, moderated the session. Dr Suhas Buddhe, past Vice President of VIA, Girdhari Mantri, Chairman - VIA CSR Forum, were also present.

 

In his welcome address, Dr Bigyan Verma, highlighted the importance of looking out for the environment regardless of one’s profession. “Integrating planet, people and profits with general business functions is more crucial than merely looking at corporate social responsibility (CSR) activities in isolation,” he said.

 

In a comparative analysis, Professor Banerjee drew a distinction between Corporate Social Responsibility (CSR) and Environment, Social and Governance (ESG). Dr D G Garway, emphasised upon the challenges of adoption of ESG compliances, the regulatory framework for ESG, optimisation of natural resources, reduction of carbon footprint, ESG reporting, value proposition and various incentives for supporting MSMEs. Dr Vijay Phate, Vice-President NHRDN, proposed the vote of thanks. The panel discussion was attended by students from IMT Nagpur, faculty of B-schools and representatives of various businesses in and around Nagpur.