In recent years, conversations surrounding Environmental, Social, and Governance (ESG) and climate change have intensified, underscoring their importance in today’s world. It is crucial to understand why ESG and climate risk management have become pivotal in shaping the future of businesses and economies globally, and in India in particular.
Key developments in 2023 in ESG and climate risk
2023 marked a significant year where ESG and climate risk emerged as major macroeconomic forces, influencing economic sustainability as well as corporate strategy. During this period, businesses observed significant regulatory changes in the ESG arena and faced considerable hurdles in aligning with evolving ESG standards Recognizing the vital role of ESG and climate risk management in charting sustainable economic growth, businesses and policymakers have both increased their focus on these areas. This was caused by major factors, including increasing dialogue around ESG and climate change, regulatory reforms, and challenges in adapting to the new norms:
- ESG awareness: The growing frequency and intensity of dialogue around ESG issues and climate change reflect rising global consciousness on the topic and…
