'Corporate houses aligning to sustainability'

Indian corporate houses are waking up to the importance of sustainability and are now focusing on water, energy strategy to get tangible benefits, according to Surojit Bose, director, climate change and sustainability, Ernst & Young Private Limited.

“Sustainability — people, planet and profit — has become a major concern among business houses. Even the sustainability performance is now keenly watched by investors," he said addressing a gathering at a workshop organised by the Ficci Sustainable Development Subcommittee.

In the light of 'National voluntary guidelines on social, environmental and economic responsibilities of business' brought out recently by the Ministry of Corporate Affairs, top listed entities in India are now mandated to report on their environmental, social and governance (ESG) performance. Due to this, sustainability reporting is progressing from voluntary to mandatory, he added.

“Enterprises are no longer seen as being accountable only to their shareholder. Their responsibility also extends to the larger stakeholder community,” M Krishna Babu, commissioner of Greater Hyderabad Municipal Corporation, said.