New Delhi: IIM Ahmedabad has collaborated with the National Investment and Infrastructure Fund Limited (NIIF), to establish India’s first research chair in Environmental, Social, and Governance, ESG.
The NIIF is a centre-run collaborative investment platform for Indian and foreign investors, and the ‘NIIF Chair in ESG at IIMA’ will closely work with the Arun Duggal ESG Centre for Research and Innovation at IIM Ahmedabad.
With the research chair operating as the principal hub of knowledge and insights, the businesses and policymakers will be able to incorporate ESG principles in their long-term business and governance decisions.
Speaking on the growing importance of ESG as a fundamental element for the industry, Errol D’Souza, director, IIM Ahmedabad, said that the industry is highly identifying the importance of recognising and incorporating ESG in their operations.
D'Souza said that there is a requirement for extensive research in the field and the designing of a frame of reference will assist Indian companies to integrate ESG fundamentals in their business strategies and decisions.
Further, the research chair for ESG will work towards structuring and crafting a strategic roadmap for policymakers, practitioners, and students alongside filling the gaps in research and development in the area, D'Souza added.
The criteria of ESG are a set of standards for a company’s operations that will be used by the investors to screen potential investments. These standards are not directly related to the finances of the company, but they will help investors make environment-friendly and socially viable decisions.
The following are the activities of the NIIF chair in ESG at the management institute,
- Conducting research on critical ESG issues which are globally relevant
- To create long-term ESG oriented business strategies and practices by engaging with the industry
- Acting as a knowledge partner to government(s) in relation to policy formulation
- Partnering with the international think tanks and agencies to create knowledge and experience sharing opportunities and platforms
In order to unlock the significant value for stakeholders and the broader society, it is essential for fund managers to create a sustainable and responsible investment community.
The establishment of the NIIF chair in ESG at IIM Ahmedabad will assist in building an ecosystem of stakeholders and shape the future of implementing the best practices in ESG throughout the country.
Sujoy Bose, managing director and chief executive officer, NIIF, spoke about the setup of India's first research chair in ESG and its long-term implications in assisting a climate sensitive green economy.
Expressing his delight to collaborate with IIM Ahmedabad in the area of ESG, Bose said that it's the platform's core to the investment and asset management activities and approach.
Bose concluded by saying that as India is moving ahead towards achieving its Net-Zero goals, the platform believes that the future leaders of industry will rise from a sound foundation of adopting best-in-class ESG practices.
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