January 6

Viewpoint: Getting the ESG Framework Right

By Pradeep S Mehta & Tanya Goyal

As we look beyond 2022, the need to disclose and quantify social risks as part of any Environmental, Social, and Governance (ESG) framework is becoming increasingly important. Given the social inequities and the pressing need for an equitable transition to a more sustainable economy, companies must quantify the ‘S’,  i.e. , social in their ESG approaches. However, this cannot be achieved in isolation. Companies must evaluate their roles to take the movement ahead.

Certain big and medium-sized companies in the supply chain will help by requiring MSMEs to follow the path and thus become a part of the ESG movement which would help benefit people, the planet, and profits.

Photo courtesy of Myriams-Foto.

Source: Financial Express (link opens in a new window)

Impact Assessment
ESG, gender equality, impact measurement, MSMEs, sustainable business