ESG takes centre stage at Responsible Business Conference 2026

Delivering the special address, National Financial Reporting Authority (NFRA) Chairperson Nitin Gupta said responsible business conduct has become an essential pillar of India's development vision.

India's journey towards becoming a developed nation by 2047 will depend not only on economic growth but also on how businesses balance profitability with environmental responsibility, social inclusion and strong corporate governance, speakers said at the fourth National Conference on Responsible Business Conduct (NCRBC) 2026, which opened in New Delhi.

The two-day conference, organised by the School of Business Environment (SBE) at the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs, is centred on the theme "ESG-led Transformation for Viksit Bharat." The event has brought together policymakers, regulators, corporate leaders, sustainability experts and international organisations to discuss how Environmental, Social and Governance (ESG) principles can become a driving force for India's next phase of economic development.

Sustainability must become part of business strategy

Delivering the special address, National Financial Reporting Authority (NFRA) Chairperson Nitin Gupta said responsible business conduct has become an essential pillar of India's development vision. He noted that the country has already made substantial progress in sustainability disclosures and the next step is to improve their quality, credibility and usefulness for investors, regulators and the public.

Gupta stressed that sustainability reporting should follow the same standards of accuracy and accountability expected from financial reporting. Reliable methodologies, verifiable data, effective internal controls, documentation and independent examination are necessary to ensure that ESG disclosures can be trusted. He also called for a practical approach that supports businesses of different sizes while encouraging the use of technology and stronger institutional capacity, particularly among micro, small and medium enterprises.

IICA Director General and CEO Gyaneshwar Kumar Singh said India's aspiration to become a USD 30 trillion economy requires ESG to evolve from a compliance requirement into a strategic business tool. He pointed to India's policy journey from the Voluntary Guidelines on Corporate Social Responsibility in 2009 to the mandatory Business Responsibility and Sustainability Reporting (BRSR) framework introduced in 2021, describing it as evidence of the country's steady commitment to responsible corporate governance.

Singh also highlighted that stakeholder responsibility had already been embedded in the Companies Act, 2013, years before similar ideas gained wider international attention. According to him, the country is now entering an "ESG 2.0" phase, where sustainability strengthens business resilience, long-term value creation and risk management while becoming an integral part of boardroom decision-making.

Child rights, talent and technology shape the ESG conversation

UNICEF India Deputy Representative (Programmes) Jesper Moller urged businesses to place children's rights at the centre of corporate strategy instead of treating them as charitable initiatives. With more than 400 million children living in India, he said business decisions on maternity benefits, workplace childcare facilities and responsible supply chains directly influence children's health, education and future opportunities. Drawing from an example in Assam's tea industry, he explained how family-friendly workplace policies improved both child welfare and employee retention.

Speaking virtually, ACCA Chief Executive Helen Brand described India's economy as one of the fastest-growing in the world and said finance professionals increasingly want careers that create positive social impact. Referring to ACCA's Global Talent Trends Report 2026, she noted that a company's reputation on social responsibility and human rights is becoming a key factor in attracting skilled professionals.

Professor Garima Dadhich, Head of the School of Business Environment at IICA, said sustainability should be viewed as the foundation of growth rather than a regulatory obligation. She linked the conference discussions to India's cultural values, the country's G20 vision of "One Earth, One Family, One Future," and the Union Budget 2026-27, which has prioritised green growth, climate transition and sustainable infrastructure.

Industry leaders call for an India-focused ESG model

A high-level panel discussion on ESG, governance and board-level disclosures brought together regulators and industry leaders to examine how responsible business practices can be integrated into corporate decision-making.

SEBI Whole-Time Member Amarjeet Singh advised against adopting international sustainability standards without considering India's own development needs, saying the country should build a framework suited to its economic realities. ONGC Chairman Arun Kumar Singh argued that businesses should be encouraged to pursue ambitious sustainability goals, even if every target is not achieved immediately, adding that trust and genuine intent are essential elements of good governance.

Council on Energy, Environment and Water (CEEW) Chief Executive Arunabha Ghosh said ESG should be viewed as an economic opportunity rather than an additional burden, pointing to an estimated USD 4 trillion investment potential in India's green economy. National Stock Exchange Senior Advisor Shailesh Pathak highlighted the role of trust in attracting long-term investment and described the Social Stock Exchange as an important platform connecting investors with social enterprises. Kirloskar Industries Managing Director George Varghese shared how stricter emission standards eventually opened new international markets for the company's products, while ICAI Sustainability Reporting Standards Board Chairman CA Pramod Jain noted that India is among the first countries to make ESG assurance mandatory, giving sustainability disclosures greater credibility.

With participation from more than 350 corporate executives, policymakers, ESG professionals and international delegates, the opening day of NCRBC 2026 highlighted the growing belief that responsible business conduct is becoming central to India's economic future. The second day will focus on sector-specific ESG guidelines, sustainable value chains, MSME integration, environmental reporting and practical measures that can help businesses contribute to a greener, more inclusive and globally competitive India.