Trade and Sustainability: Workshop and Conference

“In order to achieve sustainability standards there is a need to have industry specific road map for sustainability compliance, increase in the investment and innovation, focus on capacity building and training programmes and increase in digitisation of rating and reporting.” said Mr R Mukundan, Vice President CII and MD & CEO, Tata Chemicals Limited at the Trade and Sustainability Conference which was held at Mumbai on 29-30 August, 2024.

A two-day workshop and conference were organized by the Confederation of Indian Industry (CII) in partnership with amfori, from 29 to 30 August 2024 at the Taj Mahal Palace, Mumbai. The event focused on raising awareness on ESG issues, simplifying sustainability standards, and equipping Indian industries with tools for compliance. The second day conference featured a diverse lineup of speakers who discussed the evolving sustainability norms across countries, industry preparedness and trade implications under Free Trade Agreements (FTAs).

At the workshop, Ms Linda Kromjong, President, amfori, Brussels emphasized the need for balancing ESG pillars to achieve true sustainability. “Sustainability is the topic of the hour. Importantly ESG (Environment, Social and Governance) are three equally essential pillars of sustainability. We need to work together rather than in silos. When all three ‘E S G’ are balanced then we can say that sustainability is achieved” she said at the workshop on Decoding ESG Due Diligence.

Mr. Nadir Godrej in discussions highlighted that good technologies are key to achieve the sustainable goals and develop the economy.  He highlighted that India has a major role to play in the area of international trade and sustainability and can lead on various fronts.

At the conference, Mr. Vir Advani, CII Trade Policy Council and Chairman and Managing Director, Blue Star Limited outlined five key recommendations for industry at the conference were outlined by. He emphasized the need to adopt a holistic approach to sustainability, leverage technology and innovation, build reliable partnerships, engage in accurate policy dialogue, and focus on capacity building and a just transition.

“We need to demystify various sustainable standards and encourage all businesses to adopt them” said Ms Swati Salgaocar, Chairperson, CII Western Region and President, V M Salgaocar & Brother Pvt Limited at the Trade and Sustainability Conference.

During the Decoding ESG Due Diligence workshop, Mr Saurabh Sangla, Chairman, CII Western Region Sub Committee on International Trade and Investment and MD & CEO, Adroit Industries stated, “The primary objective of this workshop is to equip industries with evolving sustainability and industrial standards and also understand their concerns they come across in complying with such standards”.

Speaking on the occasion Ms. Nusrat Khan, Business and Human Rights Specialist, UNDP commented on the impact of global trade on people and the planet. She said, “Free Trade Agreements are legally binding instruments with the potential to impacts labour and human rights. However, research suggests that this in itself may not lead to inclusive and sustainable outcomes. Enough evidence shows when market forces reign corporate interests are prioritized over social and human rights issues.”

29 & 30 August 2024

Mumbai