ESG (Environmental, Social and Governance)
Kerala-A Haven for ESG Investments
The GoK is committed to putting into practice all the best practices available to nature, its people, and the planet. The key motto of the Government is to encourage Responsible Industry; Responsible Investments.
The Investment Promotion Agenda of the State aims to showcase Kerala as one of the prime destinations for ESG investments in the world. The New Industrial Commercial Policy 2023 aims to implement ESG compliances in the existing and upcoming industries of Kerala and showcase Kerala as an ESG brand across the world.
ESG Action Plan
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1
A dedicated policy for promoting ESG-focused MSME development and providing performance-based loans and incentives for innovation and green growth based on ESG-rating of MSMEs shall be devised
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2
A sector-based ESG rating framework, criteria, and methodology for industries while aligning with the United Nations Sustainable Development Goals and Sustainability Accounting Standards Board (SASB) metrics shall be developed
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3
Dedicated funds shall be formulated to provide green incentivization for entrepreneurs promoting sustainable industry practices
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4
Investment promotion meets shall be organized under the theme of Responsible Investments
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5
Various incentives shall be offered for businesses/MSMEs adopting ESG practices as per the ESG criteria
In order to prepare an action plan and a State strategy, the Government of Kerala constituted a four-member Advisory Committee vide the Government Order no. 1179/2022/ID . The Committee will be formulating a detailed ESG strategy and action plan for the State by October 2023. Members of the committee are
- Akshay Mangla -Associate Professor of International Business, Saïd Business School, University of Oxford
- Dinesh Nirmal -Senior Vice President, Products, IBM Software
- CJ George-CEO and MD , Geojith Securities
- Harikishore IAS,MD KSIDC, and Director DIC
