The Indian Institute of Corporate Affairs (IICA) in collaboration with HP India, launched the inaugural batch of the “HP Future Impact Leader – IICA Certified Environmental-Social-Governance (ESG) Professional Programme” yesterday, in Manesar. The event marked a pivotal step towards cultivating leaders to drive sustainable and responsible business practices to benchmark the impact of leadership in India.

Dr. Ajay Bhushan Prasad Pandey, Director General & CEO of IICA and Chairperson of NFRA, and former Secretary of the Ministry of Finance, Government of India, delivered the event’s Keynote Address. In his speech, he emphasized the significant milestones achieved by IICA in the realm of ESG (Environmental, Social, and Governance) through capacity building of business stakeholders, highlighting its crucial role in shaping the future of our country.

Dr. Pandey began his address by referencing the 1972 United Nations Conference on the Human Environment in Stockholm and the 2030 Agenda for Sustainable Development, adopted by world leaders in 2015 at a historic UN Summit. He noted that this summit marked a global realization of the importance of sustainable development. He explained that businesses initially focused on profit, then on environmental responsibility, and eventually on corporate social responsibility. Today, the sustainability domain has emerged, encompassing all these aspects.

He pointed out that the significance of ESG has grown rapidly over the past two decades due to the evolving global landscape. Businesses are now required to be more responsible for their impact on the environment and society to attract investors and various stakeholders. ESG has become key to the sustained growth of businesses, aligning perfectly with the 4Ps of the G20 New Delhi Declaration Landmark Document 2023: Planet, People, Peace, and Prosperity.

Adopting ESG core principles in business operations helps identify cost-saving opportunities, lower energy consumption, reduce resource waste, and minimize operational costs. Dr. Pandey stressed the importance of mandatory ESG reporting practices to avoid reputational and compliance issues in the future. He also highlighted the call by the Hon’ble Prime Minister to redefine the PPP (Pro-Planet-People) in the G20 Delhi Declaration.

Dr. Pandey referred to new research co-authored by Wharton’s Aline Gatignon, which offers unprecedented insights into how various firms allocate Corporate Social Responsibility (CSR) funds across different dimensions. The study, titled “When Few Give to Many and Many Give to Few,” suggests that the USA can learn from India, which has become the first country in the world to mandate CSR for certain qualified corporate companies and has attributes which are already contributing in the ESG.

He also provided insights into the evolving role of ESG regulations in India’s growth and development, motivating delegates from various public and private companies to integrate ESG principles into their core strategies to keep pace with global trends. At the end of his address, Dr. Pandey thanked HP and UNICEF for supporting the program and urged the delegates to become real impact leaders, contributing to the development of India and the world.

Mr. Rajeev Nair, Head of Legal at HP India, provided a Special Address focusing on the legal aspects and compliance requirements of ESG initiatives. He highlighted in his address that sustainability has been at the core of HP’s Business Operations since its inception. He underscored the importance of integrating legal frameworks with sustainable business practices. He also emphasized HP’s unwavering commitment to sustainability and innovation, and how this programme aligns with HP’s vision of creating a positive impact on society and the environment.

Ms. Geetanjali Master, Public Private Partnership Specialist at UNICEF India, offered a compelling Special Address on the collaborative efforts required between public and private sectors to achieve sustainable development goals. Her address underscored the importance of partnerships in driving impactful ESG initiatives. UNICEF envisions with IICA how to fill the gap between theory and practice.

Dr Garima Dadhich, Associate Professor & Head of the School of Business Environment at IICA eloquently highlighted the critical role of shaping sustainable business practices and the importance of developing ESG professionals and impact leaders with the support of UNICEF and HP. The professionals will be equipped with 360-degree ESG expertise, which is crucial for the current corporate landscape. The event concluded with a Vote of Thanks by Dr. Ravi Raj Atrey, expressing deep gratitude to all speakers and participants, reiterating the programme’s goal to nurture leaders who will champion ESG expertise in their respective fields.

The scholarship-based HP Future Impact Leader – IICA Certified ESG Professional Programme aims to equip participants with the knowledge and skills necessary to lead sustainable initiatives within their organizations. This inaugural session marks the beginning of a transformative journey for the first batch of ESG professionals, who are now better equipped to lead their organizations toward a sustainable future. HP and IICA remain committed to fostering ESG leadership and look forward to the continued success of this programme. This collaboration between HP and IICA represents a significant stride towards building a more sustainable and responsible corporate ecosystem.

About IICA & SBE

The Indian Institute of Corporate Affairs (IICA), an autonomous institute, works under the aegis of the Ministry of Corporate Affairs and provides induction and training to the central civil servants of the Indian Corporate Law Service Cadre. A unique world-class institution functioning as a think tank, action research, policy advocacy, service delivery, and capacity-building support to the Ministry, corporate sector, professionals, and related stakeholders. It is a holistic think-tank and service delivery institute to help corporate growth, reforms, and regulation through synergized knowledge management, global partnerships, and real-time solutions.

School of Business Environment (SBE) is a specialised vertical within IICA promoting responsible business conduct focusing on the forward-looking areas of Environmental-Social-Governance (ESG), Corporate Social Responsibility (CSR), Sustainable Finance, Business & Biodiversity Conservation, Business and Human Rights, Responsible Trade, Non-Financial Reporting & auditing; Audit, and other aligned areas. The School has been providing technical expertise to various Ministries and Agencies of the Govt. of India, State Governments, Corporates, Board Members, professionals, and other stakeholders through research studies, policy inputs and advocacy, advisory services, academic programmes, customised capacity-building programmes, etc. A few of the important contributions of the School include developing the National Guidelines on Responsible Business Conduct (NGRBC), the Zero Draft of National Action Plan (NAP) on Business & Human Rights, and technical inputs to the High-Level Committees on Corporate Social Responsibility (CSR) for the Ministry of Corporate Affairs.