Bengaluru, India: “We focus on sustainability not because we’re environmentalists, but because we are capitalists and fiduciaries to our clients.” With this quote from Black Rock’s Larry Fink, Prof. Viral Acharya, C.V. Starr Professor of Economics, NYU Stern School of Business, opened the final keynote of Day 1 at the International Sustainability Conference 2025: Advancing the Global Sustainability Narrative, with a clarion call for private-enterprise-led climate action.
His keynote, based on his recent research paper, ‘Strategic Commitments to Decarbonize: The Role of Large Firms, Common Ownership, and Governments’, laid out a compelling case for the strategic role of large firms and institutional investors in catalysing the transition to a low-carbon economy. Through theoretical insights and empirical data, Prof. Acharya argued that firm-level Net Zero commitments, when backed by scale, influence, and common ownership, can spur green innovation, lower costs for smaller firms, and bolster the credibility of future government policies, especially where carbon tax regimes remain politically constrained.
Organized by IIM Bangalore and its Supply Chain Management Centre (SCMC), in collaboration with Wipro Ltd., the International Sustainability Conference 2025 is set to convene global leaders from academia, industry, and policymaking to engage in critical dialogues over three days.
Pradeep Bhargava, Chairman, MCCIA Electronic Cluster Foundation, inaugurated the conference in the midst of Prof. Rishikesha T. Krishnan, Director, IIMB; P.S.Narayan, Global Head: Sustainability, Wipro; and Prof. Sourav Mukherji, Organizational Behavior & Human Resources Management area. Delivering the inaugural address, Mr. Bhargava reflected on the urgent need to reframe management education in a BANI (Brittle, Anxious, Non-linear, and Incomprehensible) world. He stressed the role of business schools in developing leaders who can act with empathy, foresight, and responsibility in an era marked by uncertainty and global challenges.
The session on ‘ESG Disclosures—From Compliance Checklist to Catalyst for Change’, featuring Shruthi Goel, Managing Director – Sustainability, Accenture Strategy; Dr. Aditi Haldar, Director, GRI Regional Network South Asia; Nirav Patel, ex-KPMG partner, Uniqus Consulting; and Gyaneshwar Singh, former DG & CEO, Indian Institute of Corporate Affairs; and moderated by IIMB faculty Prof. Padmini Srinivasan, Chairperson, Centre for Corporate Governance and Sustainability, Finance & Accounting area, brought to light the evolution of ESG reporting, tracing its roots from voluntary principles to regulatory mandates like India’s BRSR framework. Panellists deciphered how disclosures can move beyond box-ticking exercises to become tools for internal reflection, leadership development, and long-term value creation.
The first breakout session on Environmental Sustainability, led by Shruthi Goel, brought forward discussions on industrial decarbonization, the effectiveness of disclosure mandates, and the potential impact of India’s proposed Carbon Credit Trading Scheme. The next session on Social Sustainability was delivered by Shekhar Prabhakar, CEO & Co-founder, Hasiru Dala Innovations. Participants addressed the challenges of reporting on subjective social data, navigating diverse stakeholder expectations, and implementing equitable practices around pay, sourcing, and well-being. The last breakout session for Day 1, led by Dr. Aditi Haldar, brought to light how governance frameworks can help organizations embed ESG into strategy, mitigate risk, and promote long-term resilience.
Paper Presentations
Meanwhile, the academic track of the conference saw 25 research papers presented across five parallel tracks on topics including ESG performance and reporting, green bonds, sustainable supply chains, and leadership, bringing a well-rounded perspective to sustainability inquiries, innovations, and challenges.
A Promising Start
With a blend of research, real-world insight, and strategic reflection, Day 1 of the International Sustainability Conference offered participants a thought-provoking beginning. As the conversations continue, Day 2 of the summit is set to bring the social dimension of ESG into sharper focus with sessions dedicated to responsible leadership, inclusion, and stakeholder impact.