Climate action not merely a box to tick but also an exciting $6 trillion business opportunity: Mr. Jawahar Vadivelu, Outgoing President of International Chamber of Commerce, India

Apr 08, 2019

 

NEW DELHI, 8 April 2019: Mr. Jawahar Vadivelu, the Outgoing President of ICC India, (International Chamber of Commerce, India) mentioned that the ICC has been at the forefront of driving home the message that climate action is not merely a box to tick for being socially responsible but it is also an exciting $6 trillion business opportunity, for companies to create wealth out of.

 

Speaking at the 88^th Annual General Meeting of ICC India, Mr Vadivelu said that investment in renewables, energy storage, clean water and sewage are critical sectors that require vast capital that needs to be channelled expeditiously and towards this, the ICC is working with the investment community to facilitate the channelling of capital, increasingly to companies that are assigned an ESG (Environmental, Social and Governance) score. Just as high governance standards have come to be accepted as absolutely essential, the ICC is of the firm view that social and environmental standards will likewise assume priority in the years to come, thereby starving much needed capital and other resources from flowing to firms that don't merit them, he added.

 

The newly elected President of ICC India, Mr. Vikramjit Singh Sahney said that the ICC is a unique mix of policy advocacy, innovation, trade facilitation as also formulating Incoterms to the Uniform Customs and Practice for documentary credits and providing dispute resolution through arbitration.

 

Vikramjit Singh Sahney and Murtaza Khorakiwala take over as President & Vice President of ICC India

 

At the conclusion of the AGM, Mr. Vikramjit Singh Sahney, Chairman and CEO, Sun Group and Dr. Murtaza Khorakiwala, Managing Director, Wockhardt Ltd. took over as the President and Vice President of ICC India, respectively.

 

Mr. Sahney is the founder and Chairman of Sun Group, a leading international fertilizer and minerals trading & investment company. Mr. Sahney has held  various prestigious positions such as Equity Share Holder & Strategic Advisor to Foskor, Industrial Development Corporation (IDC), South Africa; Advisor - Qatar Chemical and Petrochemical Marketing and Distribution Company (MUNTAJAT); Chair - SAARC Chamber of Commerce and Industry (SCCI); Honorary Consul General - Republic of South Africa; Chairman - BRICS Agri Business Forum; Member - Board of Trade, Govt. of India; Member - India-UAE Joint Task Force & Member of India-Egypt, India-Africa CEO's Forum. He is also on the board of National Skill Development Corporation. Mr. Sahney has also been a regular Member of Indian Prime Ministerial delegations to South Africa, BRICS, SAARC & Middle East.

 

Dr. Khorakiwala is the Managing Director of Wockhardt Ltd., a global pharmaceutical and biotechnology organisation. Dr. Khorakiwala is a graduate in medicine from GS Medical College, Mumbai and Master in Business Administration (MBA) from University of Illinois, USA. His professional career over the last 15 years encompasses being a medical practitioner, founder of IT Start-up company, business leadership in Wockhardt UK unit, Executive Director at Wockhardt Ltd. and now Managing Director of Wockhardt Ltd. since last 9 years.

 

Dr. Khorakiwala has also been elected as President of Bombay Management Association (BMA) for 2018-19 and has been bestowed with 'Global Impact Award' by University of Illinois, USA and �CEO of the year� award by Times Ascent World HRD Congress.