Page 10 - CIJ Nov 2023 Digital Edition

News Track
ESG, the Backbone of
Corporate Strategy
he concept of
Environmental, Social
and Governance (ESG)
Tis catching up, says
Bloomberg Intelligence’s
inaugural ESG Market
Navigator survey conducted in
collaboration with Bloomberg
New Economy. It has found
that ESG remains a backbone of
financial markets and corporate
strategy.
Despite the geopolitical risks
and macro-economic factors,
85% of investors and companies
surveyed plan to boost ESG
investment over next five years
and the survey also indicates
strong long term support for ESG
from both senior executives and
major investors in all regions of
the world.
Nine out of ten executives
and investors stated that AI is
a ‘friend not foe’. While costs
of transition and regulatory
compliance are seen as major
hurdles, executives view ESG
as benefiting reputation, access
to capital and competitiveness.
Though the majority said
“greenwashing” makes ESG
goals increasingly difficult to
articulate, 84% of executives
say ESG helps deliver a more
robust corporate strategy and
85% of investors reported that
ESG leads to better returns,
resilient portfolios and enhanced
fundamental analysis.
Other key findings of
Bloomberg Intelligence’s
inaugural survey were; huge
support for Artificial Intelligence
(AI) in the context of ESG.
Interoperability of regulations
(15%) and climate risk
assessments (12%) for investors,
measuring impact and litigation
risks for corporations are top
of mind for 2024. In addition,
water, circular economy, as well
as biodiversity emerged as new
themes besides clean energy.
NOVEMBER 2023•Clean India Journal
10 www.cleanindiajournal.com
Battery Waste Management
Rules (2022) Amended
he Ministry of report their compliance.
Environment, Forest,
and Climate Change The rules have set forth
Thas notified the specific collection, recycling,
and refurbishment targets,
Battery Waste Management which vary by battery type and
(Amendment) Rules, 2023, size, to be met by producers.
marking a significant overhaul These targets are backed by
of the previous regulations. The the requirement for producers
amended rules, which supersede to obtain a certificate of
the 2022 framework, aim to registration from the CPCB,
tighten the responsibilities of which will remain valid until
battery producers, recyclers, and cancelled or withdrawn.
refurbishers in India.
Under the new rules, the The rules also compel
definition of ‘battery’ has producers to align with
guidelines issued by the CPCB,
been expanded to include both reinforcing the commitment
new and refurbished cells and to eco-friendly practices in the
accumulators, highlighting the battery industry.
shift towards recognizing all
sources of electrical energy Recyclers and refurbishers
generated from chemical must now report the total
reactions. This broadened scope weight of waste batteries
is set to ensure that the entire processed on a quarterly basis.
lifecycle of these batteries, The rules also make it clear
from production to disposal, is that EPR certificates will not
regulated. be generated for the recycling
or refurbishment of imported
A key feature of the waste batteries, thus prioritising
amendment is the introduction the management of domestic
of Extended Producer battery waste.
Responsibility (EPR). Producers
are now mandated to ensure To facilitate the trade of EPR
the recycling or refurbishing certificates, the rules permit the
of batteries they introduce to establishment of one or more
the market, as well as manage trading platforms, operating
pre-consumer waste generated under the CPCB’s guidelines.
during manufacturing or Furthermore, the CPCB is
import. The Central Pollution tasked with regulating the prices
Control Board (CPCB) will of these certificates, ensuring
oversee these EPR obligations they reflect the costs associated
through an online portal, where with battery waste collection
producers must register and
and management.