It will function as the principal hub of knowledge and insights that allows businesses and policymakers to incorporate ESG principles in their long-term business and governance decisions, said a joint statement from IIMA and NIIF on Thursday. The newly formed ‘NIIF Chair in ESG at IIMA’ will work closely with the Arun Duggal ESG Centre for Research and Innovation at IIMA.

The move comes amid the government’s push towards curbing carbon emissions through major announcements in the Budget FY23 in view of the COP26 commitments.

The activities of the NIIF Chair in ESG at IIMA would include conducting research on crucial, globally relevant ESG issues, engaging with industry to create long-term ESG oriented business strategies and practices, acting as a knowledge partner to governments in relation to policy formulation and engaging with international think tanks and agencies to create knowledge and experience sharing opportunities and platforms.

Errol D’Souza, Director, IIMA said: “The industry is increasingly realising the importance of recognising and incorporating ESG in their operations. There is a need for extensive research in the area and the designing of a frame of reference that can help Indian companies integrate ESG fundamentals in their business strategies and decisions in the long run.”

The research chair for ESG will work towards structuring and crafting a strategic roadmap for policy makers, practitioners, and students at the institute to help plug in gaps in research and development in the area, he said.

Sujoy Bose, managing director and chief executive officer, NIIF, said: “This collaboration complements NIIF’s ability to influence and activate a large ecosystem of infrastructure investors and partners, growing companies of national importance and Indian fund managers, with IIMA’s strong alumni network, rigorous academic approach and research capabilities. As India marches towards its net zero goals, we believe that the next leaders of industry will rise from a sound foundation of adopting best-in-class ESG practices.”