Dr Gursharan Dhanjal
Vice Chairman, SKOCH Group
Dr Gursharan Dhanjal, MA, MPhil, PhD from Delhi University and an expert in strategic affairs, is Vice Chairman, SKOCH Group. He is also the Editor of INCLUSION—a quarterly publication that focuses on development and addresses inclusive growth-related issues. INCLUSION has completed six years. He has over 20 years of work experience ranging from academics to research and business journalism to consulting. He started his career as an Assistant Professor and taught at Delhi University for five years before joining Asia Business News (India)—Dow Jones, a premier broadcaster of business and financial news during the mid-90s. He also worked for CNBC for over three years during the late 90s.
Dr Gursharan Dhanjal at the Harmonising ESG, CSR, CDR and SDGs, an India 2047 - Centre of Excellence Workshop
Dr Gursharan Dhanjal
Vice Chairman, SKOCH Group
Key Points
- Extensive work has been done to create a Corporate Digital Responsibility framework, including harmonising ESG, CSR, SDGs and Human Rights.
- A responsible OTT (Over-The-Top) framework is developed to address content quality and child safety concerns, reflecting the rapid growth of OTT platforms.
- Comparative analysis was done across India, the US, Singapore, Australia, the EU and the UK to understand regulatory frameworks related to technology and digital responsibility.
- The text emphasises the negative impact of irresponsible technologies on society, youth and the economy, highlighting the need for regulation to safeguard essential elements of societal well-being.
- There's a call for both self-regulation by industries and government intervention to ensure the responsible use of technology and prevent societal harm, such as addiction and financial losses.
Recommendations
Comprehensive ESG Framework Adoption
- Given the increasing global focus on ESG principles, it's advisable for businesses in India to adopt a comprehensive ESG framework.
- This framework should encompass environmental considerations and social, governance, human rights and digitalisation factors.
- By integrating ESG practices into their operations, businesses can enhance their sustainability, resilience and long-term value creation.
Creation of Industry-Specific Frameworks
- Given the rapid digitisation of the economy, there's a need for a heightened focus on Corporate Digital Responsibility (CDR).
- This involves ensuring the ethical use of digital technologies, protecting user privacy and data security, promoting digital inclusivity and mitigating the negative societal impacts of technology.
- Recognising the diverse nature of industries, developing industry-specific frameworks or codes of conduct for responsible business practices may be beneficial.
- These frameworks can address sector-specific challenges and opportunities, ensuring relevance and practicality for businesses operating in different sectors.
Collaborative Initiatives
- Collaboration between government, industry associations, civil society organisations and other stakeholders can facilitate the development and implementation of responsible business practices.
- By working together, stakeholders can share knowledge, resources and best practices, driving collective action towards sustainable development goals.
- Businesses should actively promote responsible consumption and production practices, including initiatives to reduce waste, minimise environmental impact and promote sustainable lifestyles among consumers.
- Increasing awareness and building capacity among businesses, employees, consumers and other stakeholders is essential for driving meaningful change.
Continuous Monitoring and Evaluation
- Regular monitoring and evaluation of ESG performance, CDR practices and regulatory compliance are crucial for measuring progress and identifying areas for improvement.
- Businesses should establish robust monitoring mechanisms, conduct periodic assessments and publicly disclose relevant information to stakeholders.
Adoption of Ethical Business Models
- Ultimately, businesses should strive to embed ethics, integrity and sustainability into their core business models and operations.
- This requires a cultural shift towards responsible leadership, ethical decision-making and a long-term perspective that balances financial objectives with social and environmental and human rights considerations.
