Jawahar Vadivelu, the Outgoing President of ICC India, (International Chamber of Commerce, India) noted that the ICC has been at the forefront of driving home the message that climate action is not merely a box to tick for being socially responsible but it is also an exciting $6 trillion business opportunity, for companies to create wealth out of. Speaking at the 88th Annual General Meeting of ICC India, Vadivelu said that investment in renewables, energy storage, clean water and sewage are critical sectors that require vast capital that needs to be channelled expeditiously and towards this, the ICC is working with the investment community to facilitate the channeling of capital, increasingly to companies that are assigned an ESG (Environmental, Social and Governance) score. Just as high governance standards have come to be accepted as absolutely essential, the ICC is of the firm view that social and environmental standards will likewise assume priority in the years to come, thereby starving much needed capital and other resources from flowing to firms that don't merit them, he added.
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