Nirma University’s Institute of Management hosted Utkrishta 2023 – The Management Conclave on October 20th – 21st, 2023. This influential conclave revolved around the theme “Integrating Environmental, Social, and Governance (ESG) Factors: The Pathway to a Sustainable and Responsible Future.”
The inaugural address began with Ms. Preeta Misra, Senior Director at Dun & Bradstreet India, emphasizing the significance of ESG and the post-COVID shift in global regulatory and investor focus. Mr. James Buchanan, CEO of Buchanan Technologies, stressed environmental concerns through personal anecdotes and commended India’s dedication to sustainability, noting the long-term impact of our current decisions.
Following the inaugural session was the Track 01 segment, where Mr. Tripathi Ashish, General Manager of Indian Oil Corporation Limited, engaged students in an informative session on ESG and how its usage in the contemporary business world has evolved from being just a buzzword. Emphasizing the fundamental principles of ESG – workforce diversity, health and safety, CO2 emissions, human rights, ethics and compliance, water management, and community development – he explained how achieving net zero is not just an organizational responsibility but also the responsibility of every individual.
The event proceeded with a plenary session where Mr. Sanjay Desai, Managing Director of RBD Engineers Pvt. Ltd., emphasized the shift from linear to circular economy models, advocating for sustainability and reusability. Using examples like Airbnb and the Seven R’s, he highlighted the importance of product stewardship and sustainable business practices.
The day commenced with the Track-02 segment, featuring Mr. Atulaya Goswami, the HR Director of General Mills, highlighting the importance of Diversity and Inclusion. He stated, “ESG is a business strategy for companies today, and these are the companies that walk the talk.” Mr. Shridhar Ayyar, SVP of HR of Nuvoco Vistas, emphasized the need for sustainable manufacturing driven by customer preferences. Additionally, Mr. Manojkumar Shah, the Head of ESG and Sustainability of Azure Power, expressed that ESG is a subset of Sustainability, stating, “Companies should raise ESG awareness.”
Mr. Anand Bhatnagar discussed basic ESG practices that can be implemented in one’s life, emphasizing, “Climate and the environment are not something we give to the next generation but something we borrow from the next generation.” He added, “Sustainability is one of the mega-trends that is going to disturb and disrupt businesses.” Mr. Yashowardhan Sowale, VP of Architecture and Enterprise Architecture Head at Capgemini, stressed the importance of having metrics to demonstrate commitment to ESG initiatives, stating, “Companies that are more truthful and transparent have higher retention rates.”
In the Valedictory Address, Mr. Vinay Shukla, Director – Financial Transformation – Deloitte, emphasized the urgent need to include ESG in efforts to take care of the Earth. He explained that how we fund and support our future depends on how well we take care of our planet. He also stated that each individual has a significant role in influencing how companies behave, believing that even small actions can make a big difference for Mother Earth.
The Management Conclave – Utkrishta 2023 demonstrated its commitment to fostering sustainable and responsible business practices. The conference highlighted the imperative of ESG integration for long-term stakeholder value and transparency in measuring and reporting. Renowned industry leaders emphasized the significance of ESG, underlining the institute’s dedication to shaping future leaders in sustainable management.