Tamil Nadu is doing well in terms of Environmental Social Governance (ESG) parameters, making it a preferred destination for sustainable businesses, State government officials said.
“Our zero liquid discharge policy and environment compliance standards are far more feasible and impactful when compared to others making the State a preferred destination for positioning viable businesses," S. Krishnan, Additional Chief Secretary, Industries Department, Government of Tamil Nadu, said.
He was speaking at a conference on “ESG for industry transformation (Environmental – Social – Governance for Atmanirbhar Bharat)“, organised by the Confederation of Indian Industry (CII), Southern Region.
“As a State, we do not just promote companies that stand for ESG but also stand by them to comply with ESG norms,” said Pooja Kulkarni, MD & CEO, Guidance Tamil Nadu.
The State’s industrial policy provides a few subsides and incentives to sunrise industries such as wind and solar manufacturing industries to adopt sustainable initiatives and green initiatives.
“Furthermore, now companies are looking to set up plants at locations that support ESG standards. We have been ranked no.1 consistently because of the initiatives taken by the government pertaining to Environment and Sustainability,” she added.
Kamal Bali, Deputy Chairman, CII Southern Region, and President and MD, Volvo Group, India, said it was estimated that companies would roughly lose ₹7 lakh crore if ESG norms were not followed. On the other hand, if they adopt to it correctly they can add ₹3 lakh crore to their bottom line.
India was heading in the right direction towards achieving net zero emissions by 2070, Dr. Rajeev Ranjan, Director, ICRO, NPC, New Delhi, said.
Ravichandran P., Chairman, Sustainability Sub-Committee, and Sreeramulu Balakrishnan, Managing Director, KG Denim, spoke.
