With sustainability now a top priority for India’s corporate sector, Coalesce provided actionable insights for leaders looking to stay competitive by embracing Environmental, Social, and Governance (ESG) principles. Drawing on Deloitte’s latest findings, insights from industry leaders, and live feedback from participants, Coalesce made a compelling case for companies to harness sustainability to drive positive impact for its shareholders, employees, customers and the environment.
Why sustainability is the need of the hour
A 2024 Deloitte survey confirms that climate action has become a top priority for CXOs across India, with 81% of 157 executives feeling increasing pressure from stakeholders to prioritize climate initiatives. The findings revealed that investors, especially private equity firms, are favoring companies that embrace sustainable business practices. In a session that surveyed participants live, majority of respondents viewed ESG as a gateway to new opportunities. Key drivers pushing this shift? Brand reputation, government regulations, and the desire to build a competitive advantage.
Moreover, participants cited customers as their top priority when setting ESG goals. This confirmed that consumer’s trust is a vital factor in sustainability efforts. In addition, three core ESG drivers: carbon neutrality, climate risk management, and value chain resilience are expected to impact Indian industries over the next five years. Companies are keen to capitalize on these drivers and are positioning themselves to lead in a market increasingly shaped by eco-friendly values. According to an IBM Institute for Business Value (IBV) study, titled “Beyond checking the box,” Indian enterprises embedding sustainability into their operations are 90% more likely to outperform peers on profitability. Embedding sustainability into all operations will bridge the intent-impact gap for long-term value creation in business.
Trust through transparency
At Coalesce, trust was a recurring theme as participants shared insights on the need for transparency in sustainability efforts. Introducing Deloitte’s Global Enterprise Trust Framework, facilitators discussed how transparent ESG initiatives can build brand loyalty and instill confidence among stakeholders. Participants engaged in brainstorming sessions, and shared examples of how sustainable investments have benefited business relationships. Companies investing in renewable energy, for example, are finding they attract partnerships with other eco-minded businesses, while also lowering their own emissions and creating lasting value for their customers and communities.
The IBM IBV Study — Beyond Checking the Box — reveals that 86% of executive respondents agree that high-quality data and transparency are necessary to achieve sustainability outcomes.
Investor trust in sustainability data: An opportunity for corporate leaders, Deloitte, March 2024
The IBM IBV Study – Beyond Checking the Box – reveals that 86% of executive respondents agree that high-quality data and transparency are necessary to achieve sustainability outcomes. These discussions showed a growing belief that trust-building in sustainability depends on transparency ,indicating demand for solutions that facilitate efficient data management and holistic reporting. When companies are open about their commitments and progress, they create an environment where employees, investors, and consumers feel connected to a shared vision of sustainability.
1. Deloitte’s CXO survey report, November 2024
2. Investor trust in Sustainability data: An opportunity for corporate leaders, Deloitte, March 2024
Creating a business case to adopt sustainability
Despite the optimism, attendees acknowledged the challenges in integrating ESG initiatives. Challenges included seeking leadership buy-in on sustainability investments, especially when immediate ROI or long-term value isn’t clear. Other hurdles included access to accurate, real-time ESG data for reporting purposes and implementing circularity within their supply chains. Both issues could be addressed by investing in technology solutions, or by running internal training programs to upskill resources.
Leaders in India expect generative AI to help supercharge sustainability efforts. New research from IBM and Morning Consult highlights a growing skills gap in sustainability, which poses risks to the workforce across industries. In response, 82% of Indian business leaders prioritize sustainability expertise in hiring decisions. To help bridge this gap, IBM SkillsBuild is offering free training programs that integrate cutting-edge technologies with ecology and climate change topics. This comprehensive curriculum, powered by AI-driven personalized recommendations, aims to prepare the next generation of leaders with the skills needed for the green economy.
Additionally, businesses are on the look-out for frameworks or models which can translate capital investment in sustainable or ‘clean’ initiatives into medium-or-long term financial benefits. To address this need, Coalesce attendees were introduced to Deloitte’s Sustainable Value Map framework , which provides levers to generate revenue, reduce cost or avoid risk using sustainable practices, across functional areas such as Finance, Technology, Product Design, Marketing, Operations or Human Resources.
This can serve as a roadmap for companies looking to transition from purely delivering shareholder value (e.g., revenue growth, operating margin, asset efficiency etc.) to a model that delivers comprehensive business value, benefitting their customers as well as the environment.
The Coalesce Takeaway: Clean can deliver green
Coalesce 2024 left attendees—and anyone invested in the future of business—with a powerful message: Clean can deliver green. With sustainability now at the core of corporate resilience, companies have the tools to build a future that values both profit and planet. For organizations ready to integrate these principles, Deloitte’s expertise supports their transition. Organizations are called to drive impact, build trust, and lead in an increasingly eco-conscious market.
3. Sustainable Value Map framework Deloitte, April 2023
Join the movement for a sustainable future
Embracing sustainability is not just about responsibility — it is about opportunity. By integrating sustainable practices, businesses can unlock new avenues for growth, foster innovation, and create lasting value for their stakeholders while contributing to a better future for all.
Author’s note: This article is co-authored by Viral Thakker, Partner Sustainability and Climate Leader, Deloitte India and Geeta Gurnani IBM Technology CTO and Technical Sales Leader, India and South Asia.
