In the echoing chambers of the House of Lords, where history, governance, and modern policy often converge, the concept of ESG found a new kind of voice. Not one shaped by regulatory language or boardroom rhetoric, but by the lived experiences of an entrepreneur who believes that real change begins within.
It was with this moral framing that Mr. Jagjiv Kumar Arora, one of India’s most grounded entrepreneurs — whose journey has shaped not only the nation’s steel industry but also influenced the trajectory of global agro trade — took the stage and offered a perspective both humbling and powerful. His message was simple: ethics must not be outsourced to regulation; they must be cultivated from within.
He said, Environmental, Social, and Governance (ESG) is no longer a niche consideration. It is now central to how the world measures the conscience of business. But beneath the acronyms and metrics lies something more elemental: a philosophy of doing right — by the planet, by people, and by principle. In an era fixated on scale and speed, ESG asks: What is the cost of growth? Who bears it? And what will we leave behind?
From Risk to Responsibility: The Ethical Core of Entrepreneurship
Opening his speech with the poignant reflection that “truth needs support,” Mr. Arora rooted ESG not in obligation, but in moral clarity. He spoke from the vantage point of an entrepreneur who has built from scratch; navigating uncertainty, pledging personal assets, and shouldering risk.
He reminded the audience that behind every enterprise is a human story. A founder’s belief. A family’s faith. And that ESG, in its truest form, must emerge not as a bureaucratic checkbox but as a conscious choice — a commitment to serve society and safeguard the environment.
One Principle, Many Realities: Why ESG Isn’t Templated
Throughout his speech, Mr. Arora urged nuance over uniformity. Not all industries bear the same environmental or social weight. A legacy manufacturer, a young tech firm, and a global trading company each bring distinct footprints and responsibilities.
“You cannot evaluate a bootstrapped startup and a century-old industrial house using the same template,” he stated, emphasizing that principles should guide flexibility, not rigidity.
The goal, he argued, is not to dilute ESG, but to make it more honest — more human.
Indian Family Businesses: Ethical Capital That Precedes Compliance
Mr. Arora also offered a cultural perspective on how values precede compliance in many Indian enterprises. Over 60% of listed companies in India are family-owned, with many contributing through community trusts and philanthropic efforts long before formal ESG frameworks existed.
But intention alone is not enough. He called for boards to move beyond symbolic oversight and become true custodians of both vision and values. “A board should be like a council of ministers — executing strategy, but grounded in responsibility,” he noted.
ESG in the Age of Convenience: A Moral Question
In a striking example, Mr. Arora spoke of the modern delivery economy, where thousands of fuel-driven motorbikes crisscross cities to deliver low-value items — creating jobs, yes, but also adding to pollution, congestion, and carbon load.
“Is it worth the environmental cost to deliver ₹50 snacks?” he asked, pointing out the dissonance between valuation-driven growth and ethical sustainability.
He called upon businesses to self-regulate, adopt green innovation, and look to global best practices, such as Europe’s cycle-led delivery models, instead of waiting for government mandates.
Governance Beyond Titles: Making Ethics Operational
Turning to governance, Mr. Arora emphasized that transparency and access — not just structure — define ethical leadership. Governance, he said, must be real-time, participative, and tech-enabled, not reactive or ceremonial.
He questioned why internal reporting mechanisms aren’t more direct, why employees can’t flag concerns to the board, and why governance often waits for a crisis before activating.
“Governance is not a badge of status,” he said. “It’s a practice of responsibility.”
ESG as an Ethical Journey, Not a Bureaucratic Burden
Mr. Arora closed with a heartfelt reminder that millions of small businesses across India and the world are still finding their feet. For them, ESG must not be a burden but an inspiration. Not a fear, but a framework for growth rooted in ethics.
Policies, he stressed, should support awareness and education, allowing even the smallest business to understand that ESG isn’t just good practice — it’s good business.
A Voice That Recentered the ESG Conversation
In a room filled with power and protocol, Mr. Jagjiv Kumar Arora’s words cut through with quiet conviction. He reminded global leaders that ESG isn’t built in boardrooms alone — it begins in belief, is guided by principles, and is sustained by trust.
As the world moves forward in pursuit of sustainable futures, his message stood as both a challenge and an invitation: Let us not regulate our way to ethics. Let us live our way to it.