The 36th Annual Convention of the Department of Financial Studies, held on September 23, 2023, at the India Habitat Centre in New Delhi, centered on the theme “Green Footprints in Finance.” This event was a pivotal platform for exploring the integration of environmental sustainability into financial strategies, emphasizing the increasing importance of Environmental, Social, and Governance (ESG) criteria in global finance.
The convention commenced with a warm welcome extended to esteemed guests by faculty members and AFCON, the student body president. Mr. Sanjiv Saraff, Joint Managing Director at BOB Capital Markets Ltd., delivered the keynote address. With extensive experience in investment banking across sectors like banking, aviation, and renewable energy, Mr. Saraff highlighted the imperative for financial institutions to embrace sustainability in their operations and investments. Prof. Florent Deisting, Director of Social Transition at TBS Education and a renowned scholar in economics and financial markets, emphasized the role of business education in fostering future leaders committed to sustainable development.
Session 1: ESG Factors on Financial Decision-Making
The first session explored the transformative impact of ESG factors on financial decision-making globally. Panelists emphasized the growing investor demand for companies to demonstrate strong governance and ethical practices, alongside environmental stewardship. Discussions also centered on the evolving regulatory landscape and its influence on sustainable finance initiatives.
Session 2: Role of Financial Institutions in Advancing Green Finance
In the second session, the focus shifted to the role of financial institutions, particularly banks, in advancing green finance. Mr. Muneesh Kumar advocated for integrating ESG considerations into risk management frameworks to enhance long-term financial stability. The panel deliberated on the challenges and opportunities for financial institutions in supporting sustainable projects and initiatives.
Session 3: Prospects for Green Investments in India’s Real Estate Sector
The third session examined the prospects for green investments within India’s real estate sector. Ms. Neha Kumar highlighted technological innovations driving sustainable practices in construction, such as eco-friendly materials and energy-efficient designs. Discussions underscored the role of financing mechanisms like green bonds in funding green infrastructure projects and promoting environmental sustainability.
Session 4: Adoption of ESG Principles within India’s Financial Markets
The final session addressed the adoption of ESG principles within India’s financial markets. Panelists discussed the gradual shift towards ESG-integrated investment strategies, driven by regulatory developments and investor preferences for sustainable assets. The session concluded with a call to action for stakeholders to collaborate in accelerating the adoption of sustainable finance practices across industries.
In recapitulation, the 36th Annual Convention provided a comprehensive platform for stakeholders to exchange insights and strategies towards integrating environmental sustainability into financial decision-making. It underscored the critical role of ESG criteria in shaping a resilient and sustainable global economy, urging continued collaboration and innovation in advancing green finance initiatives.
