75% Indian Companies Set Clear Sustainability Goals: IMA According to the report, 61.3 per cent of manufacturing companies expect to see measurable outcomes from their ESG initiatives in medium to long term, with 13.3 per cent anticipating results in the very near term (0-1 years)
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A total of 75 per cent of large Indian companies have set clear sustainability goals, with 84% voluntarily sharing their targets, IMA India and Uniqus Publish Survey said in its report.
The result of a joint study conducted by IMA India and Uniqus Consultech, explored the shifting dynamics of corporate approaches to sustainability.
According to the report, 61.3 per cent of manufacturing companies expect to see measurable outcomes from their ESG initiatives in medium to long term, with 13.3 per cent anticipating results in the very near term (0-1 years)
The survey uncovered that the manufacturing, chemical, and healthcare sectors lead in sustainable practices. It is also pertinent to mention that despite these positive trends, 25 per cent of Indian companies, mostly SMEs, avoid ESG discussions in their Board of Directors meetings. Moreover, only 29 per cent of companies report their ESG initiatives and seek stakeholder feedback.
Jamil Khatri, Co-Founder & CEO of Uniqus Consultech said, "The findings from our 2024 Sustainability in Action report are encouraging. The fact that a majority of companies have embedded ESG into their core strategies and are taking concrete steps towards sustainability is a testament to the growing importance of ESG in India. We are optimistic about the growth in ESG consciousness and action in India, especially with new technologies poised to be a game changer in driving positive trends across industries."
Suraj Saigal, IMA India's Research Director said, "Our report underscores the critical role of ESG in shaping the future of Indian businesses. Companies are not only recognizing the ethical and regulatory imperatives but are also seeing the financial benefits of sustainable practices. The willingness to leverage green finance and technology shows a proactive approach to overcoming ESG challenges."
