New Delhi, July 2 (PTI) The third edition of the National Conference on Responsible Business Conduct (NCRBC), organised by the Indian Institute of Corporate Affairs, began on Wednesday with a focus on preparing Indian businesses to address emerging global challenges through the integration of ESG practices.

The Indian Institute of Corporate Affairs (IICA) is an autonomous institution under the Ministry of Corporate Affairs focusing on the niche areas of corporate affairs.

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The two-day conference, inaugurated by Harsh Malhotra, Minister of State for Corporate Affairs and Road Transport & Highways, aims to further solidify the position of ESG as the cornerstone of responsible business practices in India.

The deliberations will focus on the integration of ESG criteria, aligning corporate practices with Sustainable Development Goals (SDGs), to contribute toward India's vision of becoming a "Viksit Bharat" by 2047.

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The NCRBC 2025 features a dynamic agenda focused on advancing ESG (Environmental, Social, Governance), governance, sustainable finance, responsible supply chains, corporate decarbonization, and workforce transformation.

Addressing a press conference, Gyaneshwar Kumar Singh, Director General and CEO of IICA said the institute is encouraging industry, including MSMEs, to get themselves acquainted with ESG norms and compliance processes.

The institute is also providing discounts on courses for MSMEs, Singh said.

Institute of Chartered Accountants of India (ICAI) President Charanjot Singh Nanda stressed that the industry has to understand that financial reporting comes second and non-financial reporting is at the forefront.

He further said if proper valuations have to be made, non-financial reporting has to be an integral part, and ESG is avery important facet of non-financial reporting.

Nanda also informed that ICAI has pioneering contributions in the ESG space - from global recognition for its Sustainability Reporting Standards Board (SRSB) to fostering capacity building and advocating for robust ESG frameworks.

Other initiatives include the launch of a Carbon Emission Calculator, the development of the Sustainability Assurance Standards and integration of sustainability into the code of ethics, Sustainability Reporting Maturity Model (SRMM).

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