The COVID-19 pandemic has been a cause of unprecedented disruption in the global ecosystem, a grim reminder of just how disastrous the consequences of ecosystem loss can be.
Among the many new models that emerged post COVID, we have seen a big push for environmentally conscious business practices, strong social responsibility and corporate governance by both businesses and investors.
It is quite clear that running a business-as-usual is not an option any longer - consumption patterns and production methods must be reoriented, and as we move beyond COVID-19, businesses along with other stakeholders need to play an important role to step up action to save the planet.
This year the theme for World Environment Day on June 5 is "ecosystem restoration", it coincides with the launch of the UN Decade on Ecosystem Restoration, a global mission running through 2030 to protect and revive billions of hectares of valuable and much needed natural capital, from forests and farmland to the oceans.
India has its own share of challenges pertaining to water stress, air pollution, climate change and human capital development.
So, the question is how do organisations reshape and realign to greater global goals? What needs to be done to make ESG a non-negotiable part of business planning? And what challenges could it pose for a developing economy like India? To discuss this Shereen Bhan spoke to Amit Sinha, President of Group Strategy at M&M; Deeksha Vats, Chief Sustainability Officer at Aditya Birla Group, and Chaitanya Kalia, Partner at EY India.Watch video for more.