Environment, Health and Safety

Working Together Towards Sustainable Fashion The fashion industry brings with it many environmental, social and governance (ESG) concerns. It is the second largest polluter in the world after Oil and Gas—producing more greenhouse gas emissions than international flights and maritime shipping combined. Ethical concerns for factory workers are also well known. Fast fashion, an accelerated way of producing a high volume of low-cost garments, is making these concerns grow exponentially. However, there is a new breed of consumers emerging. and it has been compounded by heightened engagement in sustainability during the pandemic. The consumers of today want to be educated about what goes into production of the garment they are buying, and wants to support ethical, environmentally friendly clothing—but will they put their money where their mouth is?

Beyond the “E” in ESG Sustainability, today, in corporate parlance is synonymous with “ESG”. ESG – Environmental, Social, and (Corporate) Governance, the three broad categories, or areas, of interest for what is termed “socially responsible investors.” These investors go beyond the potential profits to select their investments, ensuring they align to their values and concerns. The sustainability conversation to date has been heavily environment focused—carbon conversations, carbon taxation, better energy sources and climate change. However, social and governance aspects are equally significant pieces of the ESG puzzle and that is what we are diving into in this paper. Organizations today, go beyond the “E” in ESG, focusing on the other two pillars, with a view into what it means to leverage S & G aspects in the corporate world.

The (Un)Surprising Impact of Climate Change on the Financial Sector Climate change has had a telling impact over the last decade or so. Natural disasters in the recent decades are telling of the havoc climate change can create on the environment, our lives, and the world economy. Countries and corporates are taking note and planning their way towards a lower carbon strategy. The financial sector, particularly, finds itself in a precarious situation, owing to the diverse segments it caters to. For starters, climate change has a direct implication on risk exposure for the financial sector (banks, financial services and insurance companies / BFSI). Therefore, it makes sense to evaluate investments from an ESG (Environmental, Social and Governance) perspective to manage risk. But it’s not just about minimizing risk. The financial sector can contribute substantially to our transition to low-carbon economy through the creation of relevant financial instruments.

Food: Perspectives on Sustainability With the ever-increasing demand for food to cater to the global population, the food industry has quite a task on its hand. The natural resources required such as land, water and biodiversity are already under stress. The food sector itself, however, plays a significant role, albeit in a negative manner, in the long-term sustainability of the industry and the planet. It is no longer a question of remaining profitable but of long-term viability – it must balance environmental, economic, and social considerations and actively embark on sustainability initiatives for building a better future.