ESG - Environmental, Social and Governance – reporting by corporates has become widespread to demonstrate their social and responsible agenda. However, to manage any change in social, natural and economic environment due to business activities, there is need to measure their impacts. ESG rankings and scores fall short on measuring impacts and outcomes and are ineffective in catalyzing a strategic response to reduce these impacts. TCA – True Cost Accounting – tool can measure these impacts across four capitals (human, social, natural, and produced) in monetary terms. These impacts can then be included in balance sheets of corporates to improve decisions to effectively manage those changes and gain sustained competitive advantage. Read my article at London School of Economics Business Review
INDIAN GOVERNMENT NEEDS TO LISTEN TO FARMERS IN REFORMING AGRICULTURE IN INDIA 1. Three new farm acts in India are proving to be the last straw for about 90 million small-holders and their families. This has grave implications for about 800 million rural dwellers who are directly or indirectly dependent on farming for their livelihood. In addition, food security of the entire nation with 1.35 billion population is at risk. 2. Indian government maintains that these farm laws will usher a new economic revolution in the ailing farm sector. 3. Whereas farmers are opposing as they fear losing their land – only source of their livelihood – to corporate backed agri-enterprises. 4. The protest and persistence by farmers have opened up an opportunity for a dialogue between farmers and the government and for a new beginning. This has potential to reform small-holder agriculture but in close consultation with the farmers. 5. However, the rights of these farmers and many associated organisatio