It is sad to see that greenwashing in each segment of ESG is prevalent.
The other day, when my colleague wrote about whether ESG is losing its steam, we had a lengthy conversation on how the segment is panning out globally and in India. We deduced that a section of society is driving the message that ESG is outdated.
However, we also agreed that compliance, statute, and an intent will drive ESG implementation in a developing country like India. Moreover, we have also noticed that the ‘S’ factor of ESG is the least cared for. The S factor has many facets, from diversity, equity, and inclusion (DEI) on one side to human rights and community development on the other.
DEI is the new buzzword in the corporate world. We have come across some eye-opening facts during our conversations with various stakeholders in the last year. For example, a CXO associated with a large company in the aviation segment admitted that though the organization releases a Sustainability/ESG report for the past few years, it is yet to appoint a woman at the board level. This particular company is not an exception. Many large organizations that are also under BRSR purview have appointed women at the board level. However, experts argue that it is a token meant to tick box the compliance. The point I am making here is that diversity is a vital criteria of ESG.
Let us move to the noises (it is just noise and not voice yet) around us on DEI. Each industry segment, whether tech, manufacturing, BFSI or services, has DEI experts on board. But they all refuse to answer critical, uncomfortable questions. We have noticed that everyone wants to be there at the top order. Keywords such as DEI, inclusion, women, leadership vision, etc, meet their SEO criteria. Beyond the conversations in the boardroom, they have done zilch to act upon the valuable treasure trove of data (both in-house and through external agencies), on the impact. Ironically, they dodge any DEI questions within their organization but sit on the judge’s chair and discuss DEI best practices at industry events. They know how to make a lot of noise and get noticed in the process. Initially, I took the conversations with these people at face value. Thankfully, I learnt my truth faster and now rely on my gut instinct and research to counter them.
By voicing my experience, I am not trying to paint a gloomy picture. Infact, there are corporates that have implemented DEI, and it continues to be among their top priority. From freshers’ recruitment levels to the board, they have skilfully integrated diversity.
Our aim at WriteCanvas is to create the narrative—sift the noise from the actual use cases (however small the integration maybe), and enable a system supported by the policy. And that allows DEI or inclusion in the true sense and not just tickboxing. Join us if you believe in creating the structure.
As part of this endeavor, WriteCanvas in association with the DEI Committee of ASSOCHAM Southern Region, is conducting a survey on the S factor of the ESG implemented by companies. Here is the link to the questionnaire. LINK:
We will publish the findings and will share key take-aways with you.