EcoRatings, PHDCCI Spark Dialogue on Transparency in Sustainability

New Delhi Seminar Brings Together Businesses, Scientists, NGOs to Discuss Gen AI’s Role in Greener Future

In a move to promote open dialogue and collaboration on environmental initiatives, EcoRatings, a leading Generative AI company, joined forces with the PHD Chamber of Commerce (PHDCCI) to host a seminar titled “Introducing Transparency in Sustainability.” Held at PHD House in New Delhi, the event drew over 200 participants, including scientists, environmental advocates, business owners, and representatives from sustainability-focused NGOs.

The seminar aimed to ignite a conversation on the twofold benefits of transparent sustainability practices – for both businesses and consumers. Discussions centered on how collaborative efforts can empower grassroots change and how Gen AI tools and platforms can be leveraged to accurately measure and track impact across industries, fostering greater transparency.

Setting the Sustainability Agenda

Dr. JP Gupta, Chairman of the Environment and Climate Committee at PHDCCI, kicked off the seminar with a keynote address. He underscored the critical role of transparency in ensuring the effectiveness of sustainability initiatives, advocating for a goal-oriented approach. Dr. Gupta also emphasized the importance of widespread transparency and the responsibility individuals hold in advancing sustainability efforts.

ESG and Investment Opportunities

Mr. Mahender Rastogi, Co-Chair of the Environment and Climate Committee at PHDCCI, highlighted the significance of progress on the Environmental, Social, and Governance (ESG) front. He elaborated on the potential benefits companies can reap when pursuing ESG goals, particularly when seeking investments or loans.

Panel Discussion Sheds Light on Data-Driven Sustainability

The seminar featured a panel discussion moderated by Ms. Aditi Balbir, Co-founder of EcoRatings. Panelists included Mr. Mahender Kumar, Mr. Pranav Sinha (DGM, Green Climate Finance Vertical, SIDBI), Ms. Rachna Swarup (Founder and CEO, B77 TechStyles), and Ms. Paridhi Mantri (Head, Consumer Insights, Sooth Healthcare).

Ms. Balbir opened the discussion by underlining the transformative potential of Gen AI in facilitating real-time decision-making and the need to move beyond traditional consulting models towards a more transparent ecosystem.

The panel shed light on the foundational role data plays in embarking on a sustainability journey. They emphasized the importance of companies embracing transparency, even when compliance regulations are not yet in place.

Collaboration is Key

Dr. Mahesh Kumar, Senior Principal Scientist at CSIR, highlighted the institute’s commitment to fostering scientific research and innovation across various fields. He stressed the paramount need for collaboration between industry, academia, and other stakeholders in the face of a rapidly changing global landscape.

Dr. Kumar emphasized the importance of a transparent system for achieving a sustainable future. He advocated for supporting Micro, Small, and Medium Enterprises (MSMEs) to empower them to contribute to sustainable development and achieve Sustainable Development Goals (SDGs). He concluded by urging the industry to prioritize manufacturing high-quality, sustainable products.

MSMEs and the Green Shift

Mr. Pranav Sinha, representing SIDBI’s Green Climate Finance Vertical, underscored the critical role that MSMEs play in advancing sustainability. He emphasized the need for simplified processes that cater to this segment.

Consumer Insights and ESG Integration

Ms. Paridhi Mantri, representing Sooth Healthcare, emphasized the notion that successful ESG initiatives are not merely driven by government regulations, but rather become ingrained in a company’s core values.

Transparency in Action: The Apparel Industry

Ms. Rachna Sarup, Founder and CEO of B77 TechStyles, discussed the apparel industry’s ranking as the second-largest polluter globally. She underscored the need for comprehensive changes that extend beyond large corporations. Ms. Sarup highlighted the importance of engaging smaller businesses and consumers in sustainability efforts. B77 TechStyles, an early adopter of Gen AI solutions, exemplifies voluntary efforts towards sustainability within the apparel industry.

The Road to a Sustainable Future

The seminar concluded with a renewed focus on the interconnectedness of sustainability and transparency. Participants acknowledged the crucial role Gen AI plays in enhancing transparency to drive significant change on a broader scale.