Assets under management of environmental, social and governance (ESG) funds grew 2.5 times to $650 million in India in fiscal 2021 on an annual basis, a senior government official said on Friday. IT industry body Nasscom.
Nasscom President Debjani Ghosh at the launch of the Enterprise Innovation Challenge said there has been a surge in conversations around ESG.
“Companies are not only becoming attentive to the ESG performance of suppliers or partners they are willing to work with, but investors are also using ESG as a metric to drive investment.
“In India alone, the assets under management of ESG funds have multiplied by 2.5 in just one year. From $275 million in FY20, assets under management for ESG funds grew to $650 million in FY21,” Ghosh said. said during the virtual event.
Digital India CEO Abhishek Singh said ESG will be one of the industry’s top priorities.
He said at COP26, Prime Minister Narendra Modi has made the net zero pledge which requires everyone to contribute including government and industry.
“Even when it comes to corporate governance, what we really need is that if our unicorns are to become true value-added companies and if our startups are to scale up and become the best in the world, adoption of ethical standards of corporate governance becomes a very important part of it.
“I’m sure the solutions from the Enterprise Innovation Challenge will not only help businesses, but government as well,” Singh said.
He said the increasing adoption of green technologies ensures a conservative use of water and natural resources, and provides a sustainable program that not only supports current needs but also those of the future.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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