How can India Inc. make the shift to sustainability

Proactive action and strong collaboration between politicians and business decision makers are essential for long-term sustainability. On the third edition of Moneycontrol's 'CEOs Talk Sustainability,' sponsored by Volvo and moderated by Nisha Poddar, TV Narendran, MD, Tata Steel, didn't hold back when describing the regulatory and technology shortfalls that continue to stymie the search for ESG compliance. "The road to a greener future will not be easy," he said.

TV Narendran has a front-row seat to the world's diverse approaches to sustainability as the CEO of a large international steel conglomerate. While TV Narendran praised Europe's approach to sustainability as the most innovative, he also mentioned how it has resulted in higher energy bills for all users, including homeowners. Is India prepared for such a deal?

Creating a carbon market is an excellent place to start. "We should also have a carbon allowance plan, where we give industries a few years to transition," said TV Narendran. In the progress of sustainable business, such policy initiatives are critical. TV Naredran, speaking on the major hurdles facing corporate India's gradual transition to sustainability, said, "With a little help from the government, the big corporations should be able to achieve it on their own. However, a large number of SMSEs must also make the change. They'll also require assistance."

Despite the roadblocks, TV Narendran sees the climate economy as a sign of constructive disruption, similar to how the internet economy was. And he was certain that early adopters and innovators would be rewarded handsomely.