The state of Karnataka in India is taking significant steps towards integrating Environmental, Social, and Governance (ESG) practices into its development plans. At the inaugural session of the Confederation of Indian Industry (CII) Karnataka ESG Summit 2024, the state’s Minister for Forest, Ecology & Environment, Eshwar B Khandre, reinforced the government's commitment to creating a green ecosystem that balances economic growth with environmental sustainability. The summit, which brought together industry leaders, experts, and stakeholders, emphasized the need for sustainable practices that align with the global transition to a net-zero economy.
Minister Khandre addressed the gathering with a clear message: while industrialization is crucial for economic progress, it should never come at the expense of environmental integrity. The government of Karnataka is focused on formulating policies that strike a balance between economic growth and environmental stewardship. As Khandre stated, the government is committed to initiatives that address key environmental risks such as pollution, resource overuse, and waste management, which have become pressing concerns with the rapid industrialization of the state.
A key part of Karnataka’s environmental strategy involves improving waste management systems, enhancing air quality, and rejuvenating local lakes and water bodies. These efforts are aimed at mitigating the adverse environmental impacts of industrialization while ensuring that natural resources continue to provide long-term economic value. The minister emphasized the necessity of aligning every sector with green technologies and sustainable practices, ensuring that growth and environmental responsibility go hand in hand.
Furthermore, Khandre highlighted the potential for emerging economies like India to adopt cutting-edge solutions for sustainability. With the right policies and technologies in place, the state can leapfrog traditional development models and create a more sustainable future. “Green growth must be inclusive,” he stated, noting that sustainability should not only focus on environmental benefits but also social equity. By investing in human capital, promoting inclusive employment, and ensuring fair redistribution of resources, Karnataka can build a robust economy that serves both the planet and its people.
The Karnataka ESG Summit 2024 placed a significant emphasis on the critical role that businesses play in achieving sustainable development. Khandre stressed that companies must prioritize green technologies and take tangible steps toward achieving net-zero emissions. The minister’s remarks underscore the growing importance of sustainability as a core value for companies that aim to thrive in the modern economy.
N Venu, Chairman of the CII Karnataka State Council 2024-25 and Managing Director & CEO of Hitachi Energy, addressed the summit by discussing how ESG principles help companies mitigate risks and position themselves for long-term growth. He pointed out that businesses that understand the material risks and impacts of environmental, social, and governance factors can attract sustainable investments and maintain a competitive edge in the marketplace.
Venu’s insights align with the global trend where companies are expected to integrate ESG principles into their business strategies. A rigorous focus on ESG not only ensures better environmental outcomes but also offers a strategic advantage in a marketplace that increasingly values sustainability.
B Santhanam, CEO of Saint-Gobain India Pvt Ltd, highlighted that ESG should not be just a topic for boardrooms but a commitment that must be embedded across all levels of a company’s operations. He shared an example from his company’s operations, where rainwater harvesting has saved them significant costs. Saint-Gobain’s plant in Chennai has implemented a rainwater collection system, capturing around 15 crore kilolitres from the roof annually. The water collected is so pure that it is safe for drinking, illustrating how businesses can make significant environmental contributions while also reaping economic benefits.
Santhanam stressed that ESG requires active leadership and engagement. He called for CEOs and CXOs to be directly involved in sustainability efforts, ensuring that governance and reporting are not just top-down directives but are integral to daily business practices. This approach will help in influencing company decisions that align with sustainable practices and green technologies.
The Confederation of Indian Industry (CII) has been instrumental in promoting sustainable business practices in Karnataka. The organization’s Green Business Centre prepared a White Paper on ESG approaches for Micro, Small, and Medium Enterprises (MSMEs). The white paper outlines strategies to enhance sustainability practices within MSMEs, helping them become more energy-efficient, reduce waste, and adopt green technologies that align with ESG guidelines.
During the summit, the CII Karnataka ESG Recognitions were launched, acknowledging companies that have made significant strides in advancing ESG practices. Companies such as BEL, Wipro, and Tata Hitachi Construction were honored for their contributions to sustainability, recognizing their efforts in reducing carbon footprints and promoting responsible governance.
The recognitions highlight the growing importance of ESG within Karnataka’s industrial ecosystem. By rewarding companies for their sustainability achievements, CII aims to encourage others to follow suit and integrate ESG practices into their operations. These initiatives are helping to create a green business ecosystem in the state that drives both environmental responsibility and economic growth.
The CII Karnataka ESG Summit 2024 covered several important topics aimed at advancing sustainability and helping industries transition toward a net-zero economy. Key areas of discussion included the decarbonization of industries, the promotion of renewable energy, and the adoption of effective water and waste management practices.
Panels at the summit also focused on green innovation, sustainable financing, and procurement practices, with a focus on integrating sustainability into all aspects of business operations. These discussions emphasized that achieving a net-zero economy will require collaboration between government, industry, and society, with businesses playing a central role in driving change.
The Karnataka ESG Summit 2024 highlighted the state’s commitment to fostering green growth and ensuring that industries embrace sustainability. With the leadership of Minister Eshwar B Khandre, Karnataka is set to implement policies that will balance economic development with environmental preservation. The state’s efforts to integrate ESG principles across industries will position it as a leader in the transition to a low-carbon economy.
The summit also showcased how businesses, from large corporations to MSMEs, can adopt green technologies and sustainable practices to reduce environmental impacts while enhancing their long-term growth prospects. With continued collaboration between government and industry, Karnataka is on track to achieve its sustainability goals and contribute significantly to India’s climate commitments.
