KPMG in India concludes its inaugural edition of ESG Conclave and Awards

The winners were felicitated by Shri Sudhir Mungantiwar, Honourable Cabinet Minister, Forests, Cultural Affairs, Fisheries, Government of Maharashtra

Mumbai, 13 April 2023 – KPMG in India today concluded the inaugural edition of its Environmental, Social and Governance (ESG) Conclave and Awards 2023 on a high, with a first-of-its-kind awards in the areas of E, S and G. The event centered on the theme of Thought |Action |Impact denoting strategic thought, sustainable action, and stakeholder impact. The conclave coincides with the firm’s 30th year of being in the professional services business in India.

The conclave saw participation from diverse voices representing policymakers, investors, ratings agencies, global think tanks, business owners, and business leaders. Notably, a key focus area for companies today is to chart out a convincing long-term ESG path to create value with short-term KPIs that address investors’ performance expectations. Additionally, the idea should be to take their shareholders, along the journey toward that longer-term vision, which is how companies can address the disconnect between short-term pressures and longer-term opportunities. Keeping this in mind, the discussions and deliberations focussed on pertinent subjects and matters and acknowledged best practices adopted by India Inc with regards to ESG, with a view towards influencing and bringing about change.

In the panel discussion titled, ‘India Inc: Translating ESG vision into action’, panelists agreed that while action was being taken, businesses and corporates need to show a sense of urgency to mitigate the effects of climate change. They also emphasised the importance of corporate decision-making with the long-term impact in view as the need of the hour.

The second panel discussion titled, ‘Stakeholder capitalism: The new voices shaping the future of business’, focused on how Indian businesses are well-positioned to take action on E, S & G and the support from government and policymakers to enable such action. New regulations and voluntary disclosures have made Indian businesses more transparent and attracted further investments towards ESG in the country.

The winners in each of the categories were decided based on a meticulous, data-backed, and objective selection process, and evaluation by an esteemed jury. This was to ensure that deserving achievers and winners were brought to the forefront.

While delivering the welcome address, Yezdi Nagporewalla, CEO, KPMG in India, said, “Sustainable business practices with regards to ESG today, have assumed critical importance in boardrooms requiring businesses to have a long-term strategy. At the heart of our ESG Conclave and Awards is a commitment to working towards aiding sustainable capitalism and green initiatives. Our awards have been designed with the aim of promoting and recognising companies at the forefront of such meaningful efforts. It is through learning from others, sharing experiences, and celebrating achievements, that we can identify new ways to promote sustainability and create positive change. We hope this is a beginning and will have a ripple effect that converges to a better and sustainable world in future.”

Sharing his views, Shivananda Shetty, Partner and Head, ESG Advisory, KPMG in India said “For CEOs and boards today, the disconnect with investors presents a conundrum: Can companies perform well and have a clear vision for their ESG strategy at the same time? We believe it is possible if companies find the right balance between short-term performance and the investments needed to meet longer-term ESG goals. By working together we can achieve far more on this journey which allows for- strategic thought, sustainable action, and stakeholder impact.”

In all, 15 Awards were given to companies across seven key sectors. The winners are:

Environment

Hindalco Industries Limited – Industrial Manufacturing & Auto sector
Godrej Properties Limited – Infrastructure and Real Estate sector
Tata Consultancy Services Limited -Technology, Media & Telecom sector
UPL Limited in Energy- Natural Resources & Chemicals sector

Social

Hindalco Industries Limited- Industrial Manufacturing & Auto sector
Godrej Properties Limited – Infrastructure and Real Estate sector
Wipro Limited – Technology, Media & Telecom sector
The Tata Power Company Limited – Energy, Natural Resources & Chemicals sector
HDFC Bank Limited -Financial Services sector

Governance

Mahindra & Mahindra Limited – Industrial Manufacturing & Auto sector
Infosys Limited – Technology, Media & Telecom sector
The Tata Power Company Limited – Energy, Natural Resources & Chemicals sector
HDFC Bank Limited -Financial Services sector

Composite E+S+G

Hindustan Unilever Limited – Consumer Market sector
Cipla Limited – Pharmaceutical & Healthcare sector