Mumbai, 13 April 2023- KPMG in India today concluded the inaugural edition of its Environmental, Social and Governance (ESG) Conclave and Awards 2023 on a high, with a first-of-its-kind awards in the areas of E, S and G. The event centered on the theme of Thought |Action |Impact denoting strategic thought, sustainable action, and stakeholder impact. The conclave coincides with the firm’s 30th year of being in the professional services business in India.
The conclave saw participation from diverse voices representing policymakers, investors, ratings agencies, global think tanks, business owners, and business leaders. Notably, a key focus area for companies today is to chart out a convincing long-term ESG path to create value with short-term KPIs that address investors’ performance expectations. Additionally, the idea should be to take their shareholders, along the journey toward that longer-term vision, which is how companies can address the disconnect between short-term pressures and longer-term opportunities. Keeping this in mind, the discussions and deliberations focussed on pertinent subjects and matters and acknowledged best practices adopted by India Inc with regard to ESG, with a view towards influencing and bringing about change.
In the panel discussion titled, ‘India Inc: Translating ESG vision into action’, panelist’s agreed that while action was being taken, businesses and corporates need to show a sense of urgency to mitigate the effects of climate change. They also emphasised the importance of corporate decision-making with long-term impact in view as the need of the hour.
The second panel discussion titled, ‘Stakeholder capitalism: The new voices shaping the future of business’, focused on how Indian businesses are well-positioned to take action on E, S & G and the support from government and policymakers to enable such action. New regulations and voluntary disclosures have made Indian businesses more transparent, and attracted further investments towards ESG in the country.
The winners in each of the categories were decided based on a meticulous, data-backed, and objective selection process, and evaluation by an esteemed jury. This was to ensure that deserving achievers and winners were brought to the forefront.
While delivering the welcome address, Yezdi Nagporewalla, CEO, KPMG in India, said, “Sustainable business practices with regard to ESG today, have assumed critical importance in boardrooms requiring businesses to have a long-term strategy. At the heart of our ESG Conclave and Awards is a commitment to working towards aiding sustainable capitalism and green initiatives. Our awards have been designed with the aim of promoting and recognising companies at the forefront of such meaningful efforts. It is through learning from others, sharing experiences, and celebrating achievements, that we can identify new ways to promote sustainability and create positive change. We hope this is a beginning and will have a ripple effect that converges to a better and sustainable world in future.”
Sharing his views, Shivananda Shetty, Partner and Head, ESG Advisory, KPMG in India said “For CEOs and boards today, the disconnect with investors presents a conundrum: Can companies perform well and have a clear vision for their ESG strategy at the same time? We believe it is possible if companies find the right balance between short-term performance and the investments needed to meet longer-term ESG goals. By working together, we can achieve far more on this journey which allows for strategic thought, sustainable action, and stakeholder impact.”
In all, 15 awards were given to companies across seven key sectors. The winners are:
Hindustan Unilever LimitedESG Champion
Consumer & Retail
Cipla LimitedESG Champion
Pharmaceuticals & Healthcare
About KPMG in India
KPMG entities in India are professional services firm(s). These Indian member firms are affiliated with KPMG International Limited. KPMG was established in India in August 1993. Our professionals leverage the global network of firms, and are conversant with local laws, regulations, markets and competition. KPMG has offices across India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune, Vadodara and Vijayawada.
KPMG entities in India offer services to national and international clients in India across sectors. We strive to provide rapid, performance-based, industry-focused and technology-enabled services, which reflect a shared knowledge of global and local industries and our experience of the Indian business environment.
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