Bengaluru: The Karnataka government is committed to creating a green ecosystem that ensures all natural resources continue to provide long-term economic value while preserving their integrity, said state Minister Eshwar B Khandre.

Inaugurating the Confederation of Indian Industry (CII) Karnataka ESG (Environmental, Social, and Governance) Summit 2024 here, the minister for Forest, Ecology & Environment, said, “Rapid industrialisation shouldn’t come at the cost of our environment.”

He added, “We must balance economic growth with environmental sustainability by addressing key risks such as pollution, resource overuse, and waste management. The government is committed to creating policies that strike this balance, focusing on waste management, air quality improvement, lake rejuvenation, and pollution control.”

Emphasising that as industries expand, it is essential to integrate sustainability principles at every stage of the process, Khandre said, “Every sector must align with green technologies and sustainable practices to thrive within the boundaries of environmental stewardship. We cannot separate growth from responsibility.”

He also noted that emerging economies like India have unique opportunities to leapfrog traditional development models and adopt cutting-edge solutions for sustainability.

“Green growth must be inclusive; it must prioritise not only environmental benefits but also social equity. By investing in human capital, promoting inclusive employment, and implementing fair redistribution policies, we can build an economy that serves both the planet and its people,” Khandre said.

Further, he lauded CII for organising the ESG summit, which focuses on the vital transition towards a net-zero economy.

“As the world accelerates towards a low-carbon economy, businesses must play a pivotal role in driving sustainability. Sustainability is not just a policy; it should be embedded in every aspect of a company’s operations,” Khandre stressed.

Companies need to prioritise green technologies, take tangible steps toward achieving net-zero emissions, and make a real impact on global climate goals. Today’s conference is a testament to this commitment,” he added.

Speaking at the inaugural session, N Venu, Chairman of CII Karnataka State Council 2024-25 and MD and CEO of Hitachi Energy, said companies that understand the value of environmental, social, and governance (ESG) not only protect their operations from potential risks but also position themselves for long-term sustainable growth.

“A company that rigorously addresses its material impacts and risks across the ESG value chain will undoubtedly be better placed to attract sustainable investments and maintain a competitive edge in the marketplace,” he said.

Earlier, B Santhanam, CEO (Asia Pacific and India Region) of Saint-Gobain India Pvt Ltd and former Chairman of CII Southern Region, shared measures taken by his company, including rainwater harvesting, which saved the company significant costs.

“We have a rainwater collection system at our Chennai factory, where we collect 15 crore kilolitres from the roof. Our roofs are clean, and the water is pure enough to drink straight. It’s so pure that fish can’t survive in it. With an investment of Rs 4,500 crore in the factory and 3,000 employees, we use 1,000 kilolitres a day. Given this, the rainfall in Chennai can sustain us for 225 days a year,” Santhanam said, urging companies to “walk the talk.”

He added that ESG shouldn’t just be a boardroom subject. “While governance and reporting are essential, true commitment comes from CEOs and CXOs walking the talk, engaging daily in ESG matters. This requires face time between sustainability teams and CEOs to influence company direction.”

A White Paper on ESG approaches for MSMEs, prepared by the CII Green Business Centre, outlining strategies to enhance sustainability practices within MSMEs, was also released by the Environment Minister during the inaugural session of the summit.

The second edition of the summit also marked the launch of the CII Karnataka ESG Recognitions, honouring companies such as BEL, Wipro, and Tata Hitachi Construction for their contributions to advancing ESG practices.

The summit, which covered several key topics aimed at advancing sustainability, including the decarbonisation of industries, the promotion of renewable energy, and effective water and waste management, saw participation from across Karnataka.

Panels also focused on fostering green innovation, sustainable financing, and procurement practices.