Volume II Issue IV

ESG REGULATIONS: CORPORATE INDIA’S EXPEDITION TOWARDS A SUSTAINABLE FUTURE Shivam Bhattacharya, Pursuing LL.M. from Gujarat National Law University, Gandhinagar Download Manuscript doi.org/10.70183/lijdlr.2024.v02.40 The Covid-19 pandemic is the first demonstration of sustainability that can be considered definite. The expeditious growth of regulation relating to ‘Environmental, Social and Governance’ (hereinafter referred to as “ESG”) regulations post-the pandemic demonstrates that environmental, social, and governance investing is not only cost-neutral but also has the potential to safeguard capital and even increase profits while contributing to a more desirable future for the companies. These requirements have also received immense support from the investors on the basis that in the future companies would look towards taking measures to protect the longer-term interests of the shareholders.[1] These regulations have become even more significant in recent times due to their emphasis on tackling climate change by Indian corporations. Keeping this as the backdrop, one of the primary objectives of the paper would be to assess the role of frameworks such as the Business Responsibility and Sustainability Report (BRSR) in driving ESG adoption, including its limitations and impact on corporate governance. The paper will also attempt to identify key challenges, such as greenwashing and regulatory gaps, and propose recommendations for enhancing ESG implementation in India. The present paper begins with a brief introduction to the concept of ESG along with its importance to Indian corporate entities. The journey from implementing ‘CSR’, which was ‘corporate social responsibility’ to ESG’ by Indian companies is also briefly tracked to highlight the significance of these guidelines. The paper then delves into the implementation and compliance of these guidelines by the companies and provides a detailed overview and analysis of the measures being taken by these companies to achieve the objectives laid out. The preceding analysis will be utilized to dissect the existing issues and challenges facing Indian corporations in achieving these objectives of ESG, and the suggested remedial steps which need to be taken. The paper ends with the way forward for India and a brief conclusion. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume II, Issue IV, Page 01-16. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2024