ESG & Sustainability Certificate Course Launched by IISWBM & IDEAS-ISI for Professionals

In a landmark collaboration, the Indian Institute of Social Welfare & Business Management (IISWBM) and the Institute of Data Engineering, Analytics, and Science (IDEAS) at the Indian Statistical Institute (ISI), Kolkata launched a pioneering Executive Certificate Programme aimed at helping businesses capitalise on data analytics to integrate Environmental, Social, and Governance (ESG) principles into their core strategies.

This innovative course titled A Data-Driven Approach to ESG & Sustainability for Business not only marks a significant collaboration between two prestigious institutions but also addresses a crucial moment for Indian businesses. With increasing pressure to adhere to ESG mandates and a growing need for sustainability assurances, the course will fill a critical gap in the market, offering junior and mid-level professionals the expertise to guide their organisations in ESG compliance and reporting in a rapidly evolving global market.

At the launch event, held at ISI Kolkata on September 17, 2024, a memorandum of understanding (MoU) between IISWBM and IDEAS-ISI was signed, formalising the joint effort to equip professionals with data-driven strategies for sustainability. Additionally, the event featured a high impact roundtable discussion, where leaders from various industries and ESG experts shared their perspectives on the challenges of implementing ESG reporting and validation frameworks in Indian businesses

Course Summary

The Executive Certificate Programme on ESG & Sustainability, jointly offered by IISWBM and IDEAS-ISI, is a 10-week course designed for junior to mid-level professionals. Delivered online with campus immersion opportunities, the programme will cover essential topics such as ESG reporting, SEBI guidelines, data storytelling, strategies for carbon neutrality, and preparing professionals to develop ESG compliance roadmaps for resilient business growth.

Exclusive Insights from Thought Leaders

Gautam Ray, President, Corporate at RPSG Group and the Bengal Chamber, spoke about the significant shift in the industry’s approach to ESG compliance. “There has been an attitudinal change, from simply responding to government pressure to proactively allocating resources toward meeting ESG goals,” he said, emphasising the importance of 'Industry-Institute collaboration' in fostering sustainability awareness.

Further, the Director of ISI, Dr Sanghamitra Bandyopadhyay, noted the unique challenges faced by small and medium enterprises (SMEs), which are significant contributors not only to the national economy but also major stakeholders of the ESG disclosures for the large companies as supply chain vendors.

Professor Krishna M Agrawal, Acting Director of IISWBM, pointed out the urgent need to develop a local talent pool in ESG and sustainability, which is an important domain of business today.

The Chief Executive Officer (CEO) of IDEAS-ISI, Agnimitra Biswas, informed The Telegraph Online Edugraph, "We are focusing on how data analytics and machine learning can be leveraged to improve ESG reporting. The course will teach participants to build data pools, create dashboards, and develop the architecture for efficient ESG data management.” He added, “Our target audience is industry professionals, especially managers involved in or transitioning to the ESG domain, as well as those working in other business functions.”

This data-driven approach is pivotal as organisations increasingly rely on robust ESG reports to enhance their investment ratings and attract global investors. Poor ESG ratings could lead to loss of business and higher interest costs, making it imperative for companies to adopt effective sustainability strategies.

Piyali Sengupta, Assistant Professor at IISWBM, highlighted the collaboration's potential to shape future ESG professionals. “This programme is ideal for new career professionals and those aspiring to enter the sustainability field. It will offer the perfect blend of management expertise provided by IISWBM and data analytics, thanks to ISI’s involvement,” she said.

Dr Dipankar Chakrabarti, former Executive Director and Chief Data Control Officer at PwC, reiterated the broader importance of ESG education. “ESG isn’t just for corporations; it’s a responsibility we all share. If we slightly modify this programme, it could even be suited for students on the verge of entering the job market. In the coming years, ESG will permeate every level of the professional hierarchy, and those without ESG knowledge may struggle to survive in the corporate world.”

The course offered by IISWBM and IDEAS-ISI couldn’t have come at a more opportune time. According to CA Shantanu Deb Mookerjea, Member of the Sustainability Reporting Standards Board of the ICAI & PP, Indo-American Chamber of Commerce, “ESG adaptation in India is maturing, but the journey has only begun. The fulcrum of the ESG adaptation practice in India has to be through robust and knowledgeable training. This programme is a significant step forward, offering essential training for those who will drive India’s ESG transformation. ”

Through this course, professionals will not only be equipped to meet their organisations’ industrial goals but also contribute to the global objectives of the United Nations’ Sustainable Development Goals (SDGs) for 2030. The future of ESG in India is bright, and this course aims to ensure that businesses and the professionals who lead them, are ready to navigate it.