Fourth National Conference on Responsible Business Conduct Concludes in New Delhi
The fourth edition of the National Conference on Responsible Business Conduct (NCRBC) 2026, organized by the School of Business Environment of the Indian Institute of Corporate Affairs (IICA), an autonomous institution under the Ministry of Corporate Affairs, Government of India, concluded recently in New Delhi. The conference served as a platform for deliberating on the importance of responsible business conduct aligned with India's constitutional ethos of social equity and environmental protection.
Keynote Address by Justice Abhay S. Oka
Hon'ble Justice Shri Abhay S. Oka, Former Judge of the Supreme Court of India, delivered the keynote address where he asserted that the right to live in a pollution-free environment is an intrinsic part of the fundamental right to life guaranteed under Article 21 of the Constitution of India. He emphasized that the meaning of Viksit Bharat must be understood through the constitutional vision, particularly Fundamental Rights, Directive Principles of State Policy, and Fundamental Duties. Justice Oka stated that development can be truly transformative only when it protects human dignity, advances social justice, and safeguards the environment for present and future generations.
He traced the evolution of environmental jurisprudence to the enactment of the Environment (Protection) Act, 1986, which was brought into force following the Bhopal gas tragedy, describing it as a turning point in India's environmental jurisprudence. Justice Oka remarked that a nation's true progress cannot be measured by economic indicators alone, and environmental well-being must be treated as an equally critical marker of national development. He called upon corporates, regulators, and civil society to internalize the constitutional and legal obligation toward environmental protection, social equity, and justice.
Valedictory Address and Conference Overview
Shri Gyaneshwar Kumar Singh, DG and CEO of Indian Institute of Corporate Affairs, described the conference as a significant milestone in India's journey toward ESG-led transformation for a Viksit Bharat. He stated that Environmental, Social, and Governance considerations have evolved beyond compliance to become a foundation for business resilience, effective risk management, investment attraction, and sustainable innovation. The conference brought together regulators, policymakers, industry leaders, and civil society to deliberate on the future of responsible business conduct in India.
Discussions spanned board-level disclosures, climate finance, sector-specific guidelines, responsible value chains, MSME competitiveness, and environmental reporting metrics. Singh emphasized that IICA remains committed to serving as a national knowledge and capacity-building hub for advancing responsible business conduct across India's corporate ecosystem. He noted that insights from the conference's High-Level Panels would inform the Institute's policy research and capacity-building initiatives.
High-Level Panel Discussions
The conference featured five High-Level Panels addressing critical aspects of ESG implementation. The first panel on "Sector-Specific Guidelines for Strengthening ESG Integration" featured Smt. Surabhi Gupta, Chief General Manager at SEBI, who noted that the BRSR framework was initially designed as a simple, sector-agnostic baseline but must evolve as materiality concerns and sector-specific data gaps emerge. She highlighted SEBI's ongoing efforts to strengthen the ESG ratings ecosystem through more granular data and stakeholder engagement. Ms. Robin Hodess, CEO of Global Reporting Initiative, stressed the need to align India's sectoral metrics with globally recognized standards.
The second panel on "Responsible Value Chains across Global and Domestic Supply Networks" examined the global move toward mandatory due diligence and gaps between corporate commitments and implementation on human rights and labor standards. The panel emphasized capacity-building for MSME suppliers, partnership-based compliance, and the role of technology and artificial intelligence in improving supply-chain traceability.
The third panel on "Mainstreaming ESG in MSMEs for Competitive and Inclusive Growth" featured keynote address by Shri Sivasubramanian Ramann, Chairperson of PFRDA. Shri Devendra Kumar Singh, Chairperson of Cooperative Election Authority, highlighted the potential of Udyam-linked data to support targeted policy interventions while cautioning that policy design must reflect the predominance of micro enterprises. The Ministry of MSME representative underlined the need to combine compliance with a clear business case supported by incentives for energy, water, and waste management.
The fourth panel on "Beyond BRSR: Strengthening Sectoral ESG Adoption and Integration" featured Shri Ajay Tyagi, Former Chairman of SEBI, who called for a gradual transition from common reporting baseline to sector-specific frameworks developed through multi-stakeholder consultation. The panel emphasized greater interoperability across global standards and a shift from backward-looking compliance reporting to forward-looking sustainability planning.
The fifth panel on "Re-envisioning Environmental Metrics in ESG Reporting Frameworks" brought together Dr. Ajay Mathur (Former Director General, International Solar Alliance), Dr. Virinder Sharma (Member Technical, Commission for Air Quality Management), and Shri R.R. Rashmi (Former Special Secretary, Ministry of Environment, Forest and Climate Change). The panel examined measures to improve the rigor, reliability, and comparability of environmental metrics within India's sustainability reporting architecture.
Conclusion and Cultural Program
Professor Garima Dadhich, Head of School of Business Environment at IICA, proposed the vote of thanks, expressing gratitude to all participants and emphasizing that the true success of the conference would be reflected in collective actions and partnerships that accelerate ESG-led transformation toward a sustainable and globally competitive Viksit Bharat by 2047. The valedictory session concluded with a cultural performance by "We Are One," an internationally acclaimed dance group of differently-abled artists, followed by the announcement of conference hackathon winners.