India Transitioning Towards Sustainable Development Goals 2030
Abstract
The paper aims to highlight some steps which India is taking to achieve Sustainable Development Goals (SDGs) 2030. Sustainable Development, according to the Brundtland Commission, is looking after the needs of the future generations without hampering the needs of the present generation. On the 25th of September 2015, 193 countries became a signatory to achieving 17 sustainable development goals. These 17 goals have 169 measurable targets which are expected to be accomplished by 2030. These goals cover all the developed and the underdeveloped countries. The motto of the goal centers on eradicating complete poverty in every form. India has been responding towards these through a mixed model approach from both Government and Corporate Sector.
There has been sustained Government spending in spreading awareness and campaigns and expanding health and education infrastructure. India has also mandated corporate participation in these areas through enacting CSR laws, devising reporting frameworks, and impact assessment.
One important development in Indian financial markets is the recognition of sustainability. National Stock Exchange (NSE) indices is an organization that generates and maintains many market indices towards investor awareness about market performance. These benchmark indices, under the umbrella name National Stock Exchange Fifty (NIFTY), measure the performance of Indian stock markets over the years. There are multiple filtering criteria to assess the performance of select sectors, groups, or themes. It has introduced new filtering criteria based on the Environment Social Governance (ESG) framework to assess the performance of those companies which qualify as good corporate as per the ESG framework. There is a suitable case to popularize that the ESG framework is mandatory for all companies not limiting it to large companies alone. This will help in spreading the CSR culture irrespective of the size of the company.
Last, a brief analysis of CSR activities for the state of Karnataka is done. The paper draws conclusion towards a multi-stakeholder approach for achieving the universal goals.
