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Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

SEBI proposes expansion of sustainable financial framework in securities market

<ul><li><keyword id="472014" type="General" weightage="20" keywordseo="green-jobs" source="Orion">Green jobs</keyword> or jobs in the ESG space, can be found in a wide range of industries, from renewable energy, and clean technology, to sustainable agriculture, and waste management. </li><li>March 2023 saw approximately 19,379 active job postings for ESG roles. </li><li>December 2022, and January 2023 saw the highest number of such jobs closed in India. </li><li>Organizations are looking for applicants with qualifications in energy, social environment, sustainable business management and environmental studies. </li></ul>The Future of Jobs Report 2023, by the World Economic Forum, did strike a warning note saying that 26 million jobs will be wiped out globally by 2027. However, a macrotrend listed in the report deserves attention. According to the report, businesses expect that the greatest net job creation impact will come from investments that support the green transformation of businesses, the wider adoption of ESG standards, and the localization of supply chains. While this is a broader trend that will change the future job landscape as much as AI will, now is perhaps the best time ever to build a career in ESG. “ESG as an industry or segment is growing and in India while we are late at it, I think in India the main reason for ESG growth is largely because you now have the government initiatives and the target of being net zero by 2070,” says says Munira Loliwala, business head, TeamLease Digital, a tech staffing solutions firm. Growth in <keyword id="14096025" type="General" weightage="20" keywordseo="esg-jobs" source="Orion">ESG jobs</keyword> ESG jobs are employment opportunities centered around Environmental, Social, and Governance (ESG) factors. These roles involve responsibilities related to sustainable business practices, impact investing, corporate social responsibility, environmental preservation, social justice, diversity and inclusion, ethical governance, and related areas. According to TeamLease Digital, between 2021 and 2022, <keyword id="17432479" type="General" weightage="20" keywordseo="esg-hiring" source="Orion">ESG hiring</keyword> and new demands grew almost by more than 147%, as compared to 2020-2021, wherein the post Covid year marked almost 85% of growth in hiring by organizations in India. March 2023 saw approximately 19,379 of active job postings for ESG roles, while December 2022, and January 2023 saw the highest number of jobs closed. The average number of ESG jobs posted stood at 12,400 between December 2022, and March 2023, while the average number of closed positions were 14,136. The average number of active ESG related jobs were 24,000. Organizations embracing ESG “ESG plays an important role if India has to attract global investments. ESG increases the chances of investments or chances of the acquisitions that most of the Indian companies today are looking at,” says Loliwala. Both big and small corporations in India have embraced ESG. Reliance Industries, for example, has integrated ESG into their business models. Led by their chief financial officer, their ESG team is a multi-disciplinary group responsible for all of Reliance’s environmental sustainability, stakeholder engagement and regulatory compliance activities. In order to enhance their commitment to ESG principles, HDFC Bank has formed an ESG committee. This committee consists of senior members from key departments within the bank and is chaired by a member of the senior management team. The ESG committee is responsible for developing and implementing the bank's ESG strategy, as well as establishing a roadmap to achieve the set targets. They report to the Corporate Social Responsibility (CSR) committee of the Board of Directors, providing updates on the bank's ESG strategy and progress. kindlife, a beauty and wellness platform which launched in 2020, has a strong ESG focus. “Our ESG goals are only achievable with a strong team who works tirelessly to bring our vision to life. We work closely with internationally renowned advisors armed with over 20 years of experience. We’ve worked closely with the World Bank and government bodies in the sustainability and clean energy space,” says Radhika Ghai, founder and CEO, kindlife. They have a team of two consultants who are guiding them with assessing their impact across various parameters and projects. They are also gearing towards their next critical goal of 100% carbon neutrality and a sustainable score for brands and products for which they are working closely with Sishir Garemella, a clean energy and climate technology expert. Talent in demand ESG jobs do not necessarily require skills in the sustainability domain. “Green jobs or jobs in the ESG space, can be found in a wide range of industries, from renewable energy and clean technology to sustainable agriculture and waste management. There are three categories of green jobs based on their degree of dependence on green skills,” says Manu Saigal, director, general staffing, Adecco India. Jobs that require green skills: These are jobs that cannot be performed without specialized knowledge of environmental sustainability. Examples include renewable energy technicians, environmental engineers, and sustainability consultants. Jobs with significant potential to create and hone green skills: “These are jobs that are not necessarily focused on environmental sustainability but have the potential to develop green skills,” says Saigal. Examples include architects and construction workers who build energy-efficient buildings and farmers who use sustainable agriculture practices. Jobs that do not require green skills: “These are jobs that are not specifically related to environmental sustainability but may contribute to sustainability indirectly,” says Saigal. Examples include accountants who work for green businesses and marketing professionals who promote environmentally friendly products. The crucial aspect of ESG is now focused on proper data analysis, collection, reporting, investigation, and filing. The typical structure involves using various frameworks to collect and analyze data, which requires hiring individuals at entry-level and mid-level positions with backgrounds in computer science, mathematics, or engineering. ESG data is considered a type of alternative data that can be utilized in the analysis of companies. As a result, investors and hedge funds are utilizing it to identify investment opportunities with lower risk by assessing a company's favourable environmental and ethical factors. Organizations are also looking to appoint applicants who have qualifications in energy, social environment, sustainable business management and environmental studies, wind and solar energies. And one important subject could also be economics and law. A lot of certification courses are available in this space today. There are courses on sustainability accounting, reporting and sustainable investing. <keyword id="17432478" type="General" weightage="20" keywordseo="esg-job-roles" source="Orion">ESG job roles</keyword> Below are some of the most common ESG job roles, responsibilities and expected salaries. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Job role </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsibilities </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Educational requirement </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Average starting salary (₹ lakh/annum) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Analyst </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for evaluating the ESG performance of companies and making investment decisions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in finance, economics, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6-12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sustainability Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Develop and implement sustainable business practices, manage environmental impact, and ensure compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in environmental science, engineering, sustainability, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">CSR Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing CSR strategies, managing community engagement, and ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Master's degree in business administration, sustainability, social work, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-15 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide advisory services to companies on ESG issues, including strategy development, risk assessment, and performance evaluation. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in business administration, finance, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Green Building Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide guidance and support for the design and construction of sustainable buildings, ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in architecture, engineering, sustainability, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing agricultural practices that optimize crop yields and ensure sustainable farming </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agronomy, agriculture, soil science, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Precision Agriculture Specialist </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Use technology to optimize crop production by analyzing data on soil, weather, and plant health. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agriculture, agronomy, or a related field, along with expertise in data analysis and precision agriculture technology </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-12 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Adecco India The rise of ESG jobs signifies a shift in the business landscape towards sustainability and responsible practices. As companies increasingly prioritize environmental, social, and governance factors, the demand for ESG professionals has surged, offering promising career opportunities for individuals committed to creating positive impact and driving long-term value.

Green jobs: A career option that actually impacts lives & the environment

<ul><li>Environmental, social, and governance (<keyword id="77363" type="ORGANIZATION" weightage="20" keywordseo="ESG">ESG</keyword>) stocks are offering better long term returns than the large caps on the Nifty 50.</li><li>ESG compliance may just be the latest fad, but it's forcing companies to take a serious look at their research and development, social policies, and what kind of impact they’re having on the environment.</li><li>The more ESG compliant a company is, the more investors will perceive it as being sustainable in the long run and more willing the investor will be to put in their money.</li></ul>On <keyword id="11137454" type="UNKNOWN" weightage="20" keywordseo="Earth-Day-2021">Earth Day 2021</keyword>, the theme selected by The <keyword id="6453991" type="UNKNOWN" weightage="20" keywordseo="Earth-Day">Earth Day</keyword> Network is restoring the planet in times of crisis. And this time, market forces are at play too. Environmental, social, and governance (ESG) is relatively new but there is big money chasing it already. More than a <a href="https://www.cnbc.com/2020/08/11/coronavirus-esg-and-sustainable-funds-surpass-1-trillion-for-the-first-time.html">$1 trillion</a> have been invested in companies that are making efforts towards sustainable development, which includes workplace diversity and transparency, aside from tackling climate change. And this investment in ESG-compliant companies seems to be giving more returns than other categories. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5930992"></div>]]></cdata></div> An increasing number of investors are starting to care. “Companies go by profit maximization. When they clearly see that they have every reason to comply and this compliance will ensure that they’re better off also in terms of the profit that they earn, that’s where they’ll start doing it on their own,” Nawneet Vibhaw, a partner at Shardul Amarchand Mangaldas &amp; Co with a specialisation in environmental law, told Business Insider. The more ESG compliant a company is, the more investors will perceive it as being sustainable in the long run. <cmsannotation type="cmsannotation" annotationid="ESG and its money pull" comment="subhead" text="ESG and its money pull">ESG and its money pull</cmsannotation> There are a total of 10 ESG funds available in India. This includes new entrants like Axis ESG Fund, Mirae Asset Mutual Fund’s ESG Exchange ETF, and the ICICI Prudential ESG Fund. Some have been around for longer than others. And, they’re not all the same — varying by market cap and sector preferences — but the common denominator is that they all use ESG scoring to determine companies worth investing in. Top five performing ESG mutual funds in India: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Return percentage as on March 31, 2021: </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Three months </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Six months </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis ESG Equity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.51% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.53% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Magnum Equity ESG Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.16% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.56% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quantum India ESG Equity Fund Regular Growth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.94% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.86% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential ESG Fund Regular Growth (Launched October 2020) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.78% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.25% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quant ESG Equity Fund Regular Growth (Launched October 2020) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.35% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak ESG Opportunities Fund Regular Growth (Launched December 2020) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.23% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>Source: MorningStar The Securities and Exchange Board of India (SEBI) introduced ESG for the top 1,000 companies on the stock exchanges in September, last year. The process is voluntary for now, but will be made mandatory once the next financial year kicks in. To be part of the ESG wave, companies have to share information with the regulator about redressal procedures for complaints, research and development for better social and environmental outcomes, and provisions for the differently abled. When it comes to the environment, they’re required to disclose the amount of energy consumed, water usage, and how sustainable are the input materials being used. Companies realise that if they don’t score very high on the ESG front, they may not find investors willing to shell out capital. <cmsannotation type="cmsannotation" annotationid="What is ESG?" comment="subhead" text="What is ESG?"><keyword id="11138302" type="UNKNOWN" weightage="20" keywordseo="what-is-eSG">What is ESG</keyword>?</cmsannotation> ESG is basically a set of metrics that helps stakeholders determine if a business is sustainable. This includes things like workplace diversity, addressing climate change, and transparency. And, when investors are looking for companies that will survive any economic upheavals — like a pandemic or natural calamities — they look at the companies’ ESG score. This means big wig companies are more likely to put their money in companies that ESG compliant than those which are not. <cmsannotation type="cmsannotation" annotationid="Why does the ESG score matter?" comment="subhead" text="Why does the ESG score matter?">Why does the ESG score matter?</cmsannotation> You can think of ESG like future proofing a company. Being ESG compliant means that a company is claiming to address issues like climate change and discrimination, that could create bigger hurdles in the future. <cmsannotation type="cmsannotation" annotationid="What is the problem with ESG?" comment="subhead" text="What is the problem with ESG?">What is the problem with ESG?</cmsannotation> The only criticism of ESG is that it’s more for the press and there is no one checking if net-zero promises and pollution control measures are actually being implemented on the ground. People who track the space say that the process of cross-checking isn’t in full force yet. “ESG investing faces its own set of challenges, the primary one is a lack of quality data. In our experience the lack of data has been not because companies don’t have good sustainability practices, it’s just that the disclosures are lacking,” said <a href="https://www.morningstar.in/posts/62487/esg-funds-available-india.aspx">Morning Star</a> in its report. Even so, the trend of investing in the right places, even if compliance checks come in later in a step in the right direction. “ESG is great for now, let’s see how it’s actually implemented, how companies actually comply with it over the course of the next four-five years. That’s sufficient time for actually making a lot of improvements,” said Vibhaw. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/revolut-appoints-former-flipkart-exec-paroma-chatterjee-as-its-india-ceo/articleshow/82181199.cms">Revolut starts India operations, appoints former Lendingkart, Flipkart executive Paroma Chatterjee as CEO</a> <a href="https://www.businessinsider.in/stock-market/news/hero-motocorp-nestle-india-hdfc-and-other-top-stocks-to-watch-out-for-on-april-22/slidelist/82190984.cms">Hero MotoCorp, Nestle India, HDFC and other top stocks to watch out for on April 22</a>

Earth Day: The impact of ESG investing on environment is not clear⁠— but its effect on money is real

<ul class="summary-list"><li>More than 90% of executives said ESG spending delivered returns within a few years in a new survey.</li><li>But companies remain more motivated by how ESG can improve their reputations than their profits.</li></ul>This article is part of Insider's weekly newsletter on sustainability, written by Catherine Boudreau, senior sustainability reporter.A possible recession and high inflation don't bode well for corporate investment in environmental, social, and governance initiatives in the new year — especially because many executives aren't convinced such efforts are linked to higher profits.Companies are slightly more motivated by how sustainability can improve their reputations than their bottom lines, found <a href="https://www.infosys.com/about/esg/insights/esg-radar-report.html" target="_blank" rel="nofollow noopener sponsored nofollow sponsored">a July-to-September online survey of more than 2,500 leaders</a> involved in ESG efforts at large companies across the US, Europe, Australia, New Zealand, India, and China. You can't blame some of the execs for being skeptical. The explosive growth in ESG spending has created a lot of confusion about its influence on corporate performance and investor returns, and research examining the trend has found mixed results. In the US, ESG investing <a href="https://newsletter.businessinsider.com/click/29919646.28796/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9jb25zZXJ2YXRpdmUtcG9saXRpY2lhbnMtZXNnLXN1c3RhaW5hYmxlLWludmVzdGluZy0yMDIyLTY/628bdf90094963f5ad0eef3eB2d1a20de" target="_blank" rel="noopener nofollow sponsored nofollow sponsored">is under attack by Republican officials</a>, and regulators are amping up scrutiny, muddying the waters. The ESG survey commissioned by Infosys, a global IT consulting and outsourcing firm based in India, found that there was concern about budgets, the timeline for a return on investment, and whether there would be a payoff at all. All this uncertainty explains why companies are more focused on ways ESG can enhance how customers and investors perceive them, Jasmeet Singh, executive vice president and global head of manufacturing at Infosys, said in an email. The benefits for a brand are the clearest path to a return on investment, Singh said.But, he said, companies that see ESG efforts only as good public relations risk overlooking more-tangible benefits. "Early initiatives — reducing energy and water usage, more efficient use of materials — provide measurable financial benefits in the form of savings," Singh said. "Some firms are able to parlay a commitment to ESG into new markets and business models, although that's rare."Still, more than 90% of executives surveyed said ESG spending delivered "moderate" to "significant" returns within a few years. None reported losses. Further analysis by Infosys found that a 10-percentage-point increase in ESG spending correlated with a profit growth of 1 percentage point.Singh added that many companies still didn't perceive ESG as a "value creator."Budget increases for ESG work are unlikely because of the economic uncertainty and high inflation; spending in these areas could be on the chopping block. In a mid-2022 <a href="https://assets.kpmg/content/dam/kpmg/us/pdf/2022/08/ceo-outlook-report.pdf">KPMG survey of more than 1,300 CEOs</a> around the world, 59% said they planned to "pause or reconsider" their ESG efforts within six months.Even so, there are changes a company can make that don't cost any money but deliver returns, Singh said. Governance had one of the strongest correlations with profit growth. Installing chief sustainability and diversity officers, putting an ESG committee at the board level, and allowing chief sustainability officers to sign off on funding for new projects all lead to better financial outcomes, the Infosys study found. But only about one-quarter of those surveyed said their company had all those elements in place, and 71% said there were no plans to hire a chief sustainability officer.Embedding those roles at the senior-executive level ensures they have the authority to accomplish ESG goals, Singh said.

Execs aren't convinced ESG investments deliver profits. The skepticism might undercut sustainability budgets.

<div type="image" title="Bank of America Financing a Sustainable Future series illustration for Governance Pillar" height="2250" width="3000" msid="89976017" hostid="261"></div><ul class="summary-list"><li><keyword id="12378585" type="UNKNOWN" weightage="60" keywordseo="governance" source="Orion">Governance</keyword> describes how a company holds itself to standards of transparent and ethical behavior.</li><li>A central role for boards is a critical component of <keyword id="12011554" type="UNKNOWN" weightage="60" keywordseo="esg" source="Orion">ESG</keyword> standards, an EY executive told Insider.</li></ul>In the evolving field of environmental, social, and governance, or ESG, governance is perhaps the most critical pillar for setting and executing <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> objectives.This criterion reflects how a company holds itself accountable to its purpose and larger strategy and includes how organizations measure risk, transparency, and ethical behavior.But governance can also be abstract, compared with sustainability metrics like carbon emissions or data measuring a company's diversity. Yet it's the foundation that enables companies to create and execute robust sustainability goals.The World Economic Forum's International Business Council invokes three of the <a href="https://sdgs.un.org/goals">United Nations' 17 Sustainable Development Goals</a> aligned with the principles of governance:<ul><li>Goal 12: <a href="https://sdgs.un.org/goals/goal12">Responsible consumption and production</a></li><li>Goal 16: <a href="https://sdgs.un.org/goals/goal16">Peace, justice, and strong institutions</a></li><li>Goal 17: <a href="https://sdgs.un.org/goals/goal17">Partnerships for the goals</a></li></ul>Often in response to shareholder and investor pressures, corporate governance sets the standards for transparent reporting, compensation tied to sustainability or diversity metrics, and an aligned and diverse board.Environmental issues and corporate governance often intersect at the top. For example, in June, <a href="https://www.businessinsider.com/engine-no-1-exxonmobile-invests-etf-stock-fund-interview-activist-2021-6">Engine No. 1, an ESG-activist hedge fund</a>, ousted three high-profile Exxon Mobil board members with the goal of creating <a href="https://www.businessinsider.com/exxon-retail-etf-esg-engine-no-1-corporate-management-2021-06">a new fund</a> designed to exert ESG pressure on some of America's biggest companies.After an intense shareholder meeting, Engine No. 1 — backed by larger shareholders like BlackRock — <a href="https://markets.businessinsider.com/news/stocks/engine-no-1-strengthen-their-clutch-on-exxon-mobil-1030489469">claimed three seats</a> on the oil giant's board. Despite holding just 0.02% of the company, Engine No. 1 saw a victory for sustainability and presented a model for the ways that impact investors can change how a $250 billion company votes.Holding the world's most powerful boards accountable contributes to increased ESG considerations across corporate culture and in the stock market, <a href="https://www.linkedin.com/in/boris-khentov-11977436/">Boris Khentov</a>, a senior vice president of operations and sustainable investing at <a href="https://www.betterment.com/">Betterment</a>, said."It's evident that robust corporate governance and a central role for boards are critical for getting on the front foot with ESG and achieving the strategy shift and cultural mindset change needed to drive a sustainability transformation," Julie Linn Teigland, EY's Europe, Middle East, India, and Africa area managing partner, told Insider.<h2>The role of the board</h2>In EY's <a href="https://www.ey.com/en_gl/attractiveness/22/how-can-boards-strengthen-governance-to-accelerate-their-esg-journeys">annual survey</a> on long-term value and corporate governance, which sampled 200 C-suite and board members across Europe, 49% of leaders said their boards discussed ESG strategy and reporting at every meeting, versus just 15% who said the same in 2020.Additionally, 43% of respondents said their biggest challenge in establishing strong ESG targets was a lack of commitment from the board to make decisions that fully integrate ESG factors and create long-term value.In the <a href="https://www.ey.com/en_gl/attractiveness/22/how-can-boards-strengthen-governance-to-accelerate-their-esg-journeys">survey</a>, 84% of respondents said the pandemic increased stakeholders' expectations that their companies would prioritize sustainability goals and action. Without robust governance and a clear standard set from the top, Teigland said, it will be extremely difficult for companies to meet this new standard.Meanwhile, companies are beginning to publish metrics and objectives they're certain about. The <keyword id="6357328" type="UNKNOWN" weightage="60" keywordseo="nasdaq" source="Orion">Nasdaq</keyword>, for instance, released a <a href="https://www.nasdaq.com/board-diversity">listing rule</a> to provide a standardized disclosure framework to improve transparency about board diversity.In addition, Teigland said EY used the World Economic Forum's <a href="https://www.ey.com/en_gl/global-review/value-realized-2021">stakeholder-capitalism metrics</a> to integrate ESG performance into its larger business strategy. To create the report, the International Business Council — composed of over 120 global CEOs — intentionally set metrics based on existing standards so companies could measure, track, and compare their sustainable contributions.Creating a set of standards is one way boards can meet ongoing reporting expectations. In fact, 83% of respondents in EY's survey said they would benefit from companies being required to measure their ESG performance against a globally consistent standard.When companies are pressured to respond to short-term demands from the news cycle and trending social issues, it will be governance that actually forces them to meet the long-term goals they set."For executive teams to be proactive and build a strategy that leads to long-term value — while dealing with competing priorities — they need a board that is committed, empowered, and has the operating model, data, and capabilities it needs to provide strong direction, challenge, and support," Teigland said.Additional reporting by Lily Katzman

Principles of governance: How companies — and their boards — hold themselves accountable for their promises

<ul class="summary-list"><li>Norway's massive sovereign wealth fund has sold all its stakes in Adani Group companies.</li><li>The fund started selling its stakes in Adani Group companies even before the recent selloff started.</li></ul>Norway's massive sovereign wealth fund – the <a href="https://www.reuters.com/business/norway-wealth-fund-has-sold-its-stakes-adani-companies-2023-02-09/">world's largest stock investor</a> — has sold all of its stakes in Adani Group companies."In the five weeks since year-end, we have further reduced our exposure in Adani companies significantly, and so today for all intents and purposes we have no exposure left," said Christopher Wright, the fund's head of ESG risk monitoring at a <a href="https://www.nbim.no/" target="_blank" rel="noopener">Thursday press conference.</a>The fund — which manages assets worth <a href="https://www.nbim.no/en/organisation/about-us/" target="_blank" rel="noopener">$1.4 trillion</a> — held stakes in Adani Total Gas, Adani Ports &amp; Special Economic Zone, and Adani Green Energy at the end of 2022. Since the start of 2023, it has sold stakes worth just over $200 million in these companies, said Wright."We have monitored the Adani group companies for many years as part of our monitoring processes. Corporate governance has formed part of this monitoring, alongside many other ESG topics," he added.Adani Group companies have come under tremendous pressure ever since US short seller Hindenburg Research released a scathing <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener nofollow">report</a> on January 24 alleging a "brazen stock manipulation and accounting fraud scheme" at the conglomerate.The Adani Group denied the allegations, but shares of seven of its companies listed in India have taken a beating, losing about $110 billion in market cap, according to the latest <a href="https://www.reuters.com/business/norway-wealth-fund-has-sold-its-stakes-adani-companies-2023-02-09/" target="_blank" rel="noopener">Reuters calculations.</a>But the Norwegian sovereign wealth fund had started shedding its stake in the Adani Group companies since 2014 — well before the recent selloff.Wright said the Norwegian sovereign wealth fund has divested from six Adani Group-linked companies, primarily for "reasons linked to handling environmental risks." The Adani Group did not immediately respond to Insider's request for comment.Shares of most Adani Group companies show mixed swings in early trade on Friday. Shares of the conglomerate's flagship company, Adani Enterprises, were up 1.1% after shedding about half their market value this year so far.

The world's largest stock investor &mdash; Norway's sovereign wealth fund &mdash; has dumped its remaining shares in Adani companies worth $200 million

New Delhi, May 17 () Sustainable funds in India have shown resilience during the coronavirus-triggered market selloff and attracted more than USD 500 million (over Rs 3,700 crore) in January-March largely due to growing investor interest in environmental, social and governance issues, says a report. Sustainable or ESG (environmental, social, and governance) funds in Asia (excluding Japan) witnessed an inflow of over USD 900 million during the quarter under review, according to the report by Morningstar. Such funds offer exposure to themes such as renewable energy, low carbon, green transport and environmental protection. "Indian funds experienced record inflows of USD 507 million in first-quarter 2020, supported by Axis ESG Equity, which received USD 239 million in inflows," the report noted. The inflows in the first quarter of calendar year 2020 speak of the stickiness of ESG investments. Investors in sustainable funds are typically driven by their values, invest for the long term, and seem to be more willing to ride out periods of bad performance, it added. During the quarter, Axis ESG Equity made its debut in India with USD 240 million seed capital and the fund assets under management (AUM) was pegged at Rs 1,554 crore. Apart from Axis MF, Quantum MF and SBI MF too have ESG funds. At the end of the March quarter, AUM of SBI Magnum Equity ESG stood at Rs 2,039 crore and that of Quantum India ESG Equity was over Rs 12 crore. Besides ESG funds, experts believe index funds and exchange traded funds (ETFs) are the other themes which are gaining traction among the country's mutual fund companies. During January-March, draft documents for as many as 17 new schemes were filed with markets regulator Sebi and a large chunk of these requests for new fund offers (NFOs) were for index funds and ETFs. Bucking the overall trend, the report said sustainable fund assets in Asia were up 21 per cent to USD 7.7 billion, bolstered by new fund launches. Globally, such funds witnessed an inflow of USD 45.6 billion during the quarter under review. In comparison, a withdrawal of USD 385 billion was seen in the overall fund universe. The assets in global sustainable funds dropped 12 per cent to USD 837 billion at the end of first quarter 2020, from a record high of USD 960 billion at the close of 2019. However, assets in the global fund universe took a greater hit, declining by 18 per cent. Europe continued to dominate the ESG space, housing 76 per cent of the global sustainable offerings and 81 per cent of the assets, but investor interest in other regions is growing, it said. European sustainable funds attracted inflows of USD 33 billion in the first quarter of 2020. This contrasts with the USD 163 billion in outflows suffered by the overall European fund universe. SP ABMABM

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Execs aren't convinced ESG investments deliver profits. The skepticism might undercut sustainability budgets.

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Principles of governance: How companies — and their boards — hold themselves accountable for their promises

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The world's largest stock investor Norway's sovereign wealth fund — has dumped its remaining shares in Adani companies worth $200 million

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You Searched For "esg funds india" and got 7 results

SEBI proposes expansion of sustainable financial framework in securities market

PTI

Green jobs: A career option that actually impacts lives & the environment

Anagh Pal

Earth Day: The impact of ESG investing on environment is not clear⁠— but its effect on money is real

Prabhjote Gill

Execs aren't convinced ESG investments deliver profits. The skepticism might undercut sustainability budgets.

Catherine Boudreau

Principles of governance: How companies — and their boards — hold themselves accountable for their promises

Lily Katzman,Megan DeMatteo

The world's largest stock investor Norway's sovereign wealth fund &mdash; has dumped its remaining shares in Adani companies worth $200 million

Huileng Tan

Sustainable funds in India attract USD 500 mn during COVID-19 selloff

PTI

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The world's largest stock investor Norway's sovereign wealth fund — has dumped its remaining shares in Adani companies worth $200 million