HDFC chairman Deepak Parekh seeks Indian ESG frameworks

MUMBAI: HDFC chairman Deepak Parekh has called for India to develop frameworks for environment, social and governance (ESG) that work for the country.

Parekh said ESG is centre stage in any boardroom discussion today. “While India may look at global best practices, it is important to have ESG frameworks that work for the country,” said Parekh. The comments come at a time when global lenders have sworn to slash funding to coal-based business and thermal power projects. Indian lenders are also under pressure to make public their ESG commitments.

Parekh pointed to how boards of Indian companies started to embrace corporate governance in a wider manner after India developed its corporate governance framework following CII’s lead.