The National Conference on Responsible Business Conduct, organised by the Indian Institute of Corporate Affairs (IICA), Ministry of Corporate Affairs, was concluded in New Delhi.

The conference was organised in collaboration with the Ministry of Environment, Forest and Climate Change, the Mission LiFE, and Ministry of Micro, Small and Medium Enterprises with the theme ‘Escalating ESG for Viksit Bharat’. The event saw participation of industry leaders, policymakers, and experts to deliberate upon the vital role of Environmental-Social-Governance (ESG) Responsibility in shaping India’s journey toward a Viksit and Sustainable Bharat.

In his valedictory address, Dr. Ajay Bhushan Prasad Pandey, Director General & CEO, IICA emphasised the growing importance of ESG integration within Indian businesses as a key driver for achieving the country’s vision of Viksit Bharat by 2047. He highlighted that adopting ESG principles is not just a regulatory or compliance requirement, but a strategic imperative that aligns with the nation’s broader goals of economic growth, social equity, and environmental stewardship.

“ESG is the cornerstone of responsible business conduct in the 21st century, the transition towards sustainable business practices will be pivotal in addressing the challenges of climate change, resource efficiency, and social inclusiveness,” Dr. Pandey said.

The two-day conference featured in-depth discussions, high-level panel sessions, and networking opportunities, focusing on various aspects of ESG such as sustainable finance, ESG assurance, ratings, and the recognition of responsible business practices. It provided a valuable platform for sharing best practices, identifying challenges, and outlining the path forward for integrating ESG into India’s business ecosystem.

The conference kicked off with the ‘Leadership Dialogue on Sustainable Finance,’ where Prof. Gourav Vallabh, Professor of Finance, introduced a new framework called ASP — Awareness and Understanding (A), Skill Development (S), and Promoting Informed Decision Making (P). He advocated for mandatory capital allocation for sustainable projects and stressed the need for a cultural shift in financial behavior. Prof. Vallabh also called for Sustainability Monetary Measurement Guidelines to meet ESG targets and KPIs.

The day continued with a high-level panel discussion on "ESG Reporting: Challenges & Opportunities," featuring government and industry leaders. Mr. Vimal Bhattar from SEBI emphasized the importance of robust reporting frameworks to enhance transparency and investor confidence. Following this, a session on "ESG Assurance: Global & Indian Insights" explored the role of assurance in building trust in ESG reporting, with Mr. Antonis Diolas of ACCA providing an international perspective on standardized reporting mechanisms. The conference concluded with a panel on "ESG Ratings & Recognitions: Indian Perspective," where insights from SEBI, CRISIL ESG Ratings & Analytics Ltd., ICRA, IiAS, and Infosys Ltd. highlighted the growing importance of ESG ratings in assessing company sustainability.

Prof. Garima Dadhich, Head of the School of Business Environment at IICA, delivered the vote of thanks, expressing gratitude to Hon’ble Minister of State for Corporate Affairs Shri Harsh Malhotra and Hon’ble Justice Dipak Misra, the lead partners UNICEF, Partners in Change, ACCA, and session partners HCL Foundation, UNGC, ICCSPL, and Bvocal for their support. The conference served as a crucial platform for advancing ESG integration into Indian business strategies.

ESG integration urged as a strategic priority, calling for mandatory sustainable capital allocation and standardised reporting. The conference advances ESG integration as a strategic and regulatory priority, urging mandatory capital allocation for sustainable projects and adoption of Sustainability Monetary Measurement Guidelines to operationalise ESG targets and KPIs. It calls for robust, standardised ESG reporting, independent assurance to build disclosure credibility, and strengthened ESG ratings to improve transparency and investor confidence, alongside capacity building in awareness, skills, and informed decision-making.