CHENNAI: Guidance Tamil Nadu, the nodal agency to promote investments in the State, has decided to support companies that comply with the environmental-social and governance for Atmanirbhar Bharat norms, a top official said on Tuesday.
There is a change in the mindset of business in terms of sustainability and protecting the environment, Guidance Tamil Nadu managing director and CEO Pooja Kulkarni said at an event organised by Confederation of Indian Industry (CII), southern region.
"It is no longer a mere token effort for businesses when it comes to the environment but is more about business continuity. As a State, we do not just promote companies that stands for ESG but also stand by companies by supporting them that complies with ESG norms," she said in a press release from CII.
Elaborating, Kulkarni said the garment export industry in Tamil Nadu has taken the lead in terms of adhering to ESG norms. "The State's industrial policy also provides a few subsidies and incentives to sunrise industries such as wind and solar manufacturing industries to adopt sustainable initiatives," she said.
"Today, companies are looking to set up plants at locations that support ESG standards. We have been ranked number-1 consistently because of the initiatives taken by the government pertaining to environment and sustainability," she said.
Industries Department additional chief secretary S Krishnan said ESG is considered as a necessity in Tamil Nadu."Our zero liquid discharge policy and environmental compliance standards are far more feasible and impactful when compared to others to make the State a preferred destination for positioning viable businesses," he said.
Indian Potash Ltd, Centre for Rural Outreach (ICRO), National Productivity Council, director and former IAS officer Rajeev Ranjan said the country is committed to reduce the emissions intensity of its GDP by 45 per cent before 2030. "The nation will achieve the target of net zero emissions by 2070 as per the Prime Minister's (Narendra Modi) commitment..." he said.