Visualising Hope At ISS25: Green Policy Prescriptions For Businesses, By Businesses

But first, they were invited to introspect their mood with a simple prompt: ‘India’s sustainability progress so far makes me feel…’ Stakeholders marked their mood along a spectrum from pessimistic to optimistic, colour-coded by where they worked — government, MSMEs, industry associations, academia, finance, think tanks, media, and more.

Maybe it was the air of a sustainability conference, but the resulting constellation of dots leaned towards optimism, albeit with reality checks in the back pocket.

Before she put her dot slightly off centre on the hopeful end, a small business owner said, “If I was here in a personal capacity my dot would be far left on the nihilistic side, but doomscrolling has given way to roadmap sharing and brainstorming on how sustainability is a reality for many Indian businesses and a possibility for mine.”  

The conversations that followed, captured through sticky-note recommendations, revealed a crucial pattern. Stakeholders don’t necessarily want more policies. They want better coherence, stronger implementation, and clearer accountability. 

The Secretariat shares its takeaways from the conference floor: 

1. Implementation Hiccups

The conversation around sustainability standards in India often lands on the fact that India isn’t starting from scratch when it comes to policy frameworks. Businesses and civil society repeatedly flagged that the bigger challenge is translating them into operational realities.

The National Guidelines on Responsible Business Conduct (NGRBC) issued by the Ministry of Corporate Affairs in 2019, outline nine principles for ethical and sustainable business, spanning human rights, labour, transparency, and environmental stewardship. But, execution is patchy.

The draft National Action Plan (NAP) on Business and Human Rights, still awaiting formal adoption, builds on these guidelines and the UN’s Protect-Respect-Remedy framework, which urges companies to integrate social and environmental responsibility into the core of their operations. 

Yet, the gap between paper and practice remains wide. Many companies lack clear internal processes for sustainability due diligence, many regulators lack capacity to monitor, and many MSMEs remain peripheral to frameworks they think are for large firms. 

For sustainability to shift from intention to impact, Indian policy needs stronger monitoring, clearer benchmarks and accountability systems. Experts also pointed to the need for interoperability between international and national policies to avoid duplication and confusion.

2. Not Just Sticks, But Carrots

Across sectors, businesses said they face cost and compliance barriers. For MSMEs and Tier-II cities, the challenge is particularly stark. If accountability defines what businesses must do, incentives define what they can do.

Many urged the government to move from compliance-based to incentive-driven policy models through low-cost financing, gap funding, and fiscal incentives for green technologies and low-carbon innovation.

Sustainability cannot thrive on penalties alone. While some attendees pointed out that sticks are what get the ball rolling, especially in India, structural support and business-friendly financing can help offset the upfront costs of doing the right thing. 

3. Decoding Sustainability With Awareness

Even when incentives exist, many businesses lack clarity on why to begin and where. 

As Rijit Sengupta, CEO of the Centre for Responsible Business (CRB), told The Secretariat, “You should first understand what the term sustainability means, because it can mean everything and nothing.” He reiterated that sustainability “has three legs — social, environmental, and economic — and it’s a difficult three-legged walk.”

Participants recommended clearer communication of standards, targeted capacity-building for MSMEs, and sustainability education in schools and colleges from the get go. A mindset shift begins from society and reflects in businesses.

Without shared understanding, well-intentioned rules risk being seen as compliance hurdles rather than business enablers. Consumer awareness builds market pressure for responsible business.

4. Rooted In Nature And Empathy

The final theme brought sustainability back to its ecological roots. Participants called for stronger coherence between environmental goals and business incentives. From nature-based employment and waste-recycling industries to sustainable agri-trade and forest-linked livelihoods. 

Among the most thought-provoking suggestions on the board was a bold scrawl that read: “Add empathy as a policy.” It captured the idea that sustainable transitions must be designed not only around carbon and compliance, but also around fairness, ensuring that workers and local communities are part of the process rather than casualties of it.

Onwards!

Despite occasional cynicism (“It’s all about money; rest doesn’t matter”), the overall tone of the participatory board was constructive. Stakeholders weren’t rejecting India’s sustainability push, but asking for more coherence and credibility while looking for the courage to act. 

As one policy expert at the booth summed it up: “We don’t need more green talk; we need green practice and it comes from us.”

The dots on The Secretariat’s “hope spectrum” spelt progress. India’s sustainability journey could use a policy push for small businesses; much still depends on execution and balancing the three-legged walk of social, environmental, and economic priorities, but we're well on our way.