University of Delhi, Department of Financial Studies - [DFS]

The Department of Financial Studies organized its 36th Annual Convention on September 23, 2023, at the India Habitat Centre, New Delhi, focusing on “Green Footprints in Finance.” Distinguished guests received a warm welcome from the professors and the President of the student body, AFCON. The primary objective of this event was to explore the critical connection between finance and sustainable building methods.

The chief guest, Mr. Sanjiv Saraff, currently the Joint Managing Director at BOB Capital Markets Ltd., brought over 27 years of experience in investment banking. His extensive expertise spans multiple sectors, including conglomerates, banking, aviation, and renewable energy. Our guest of honor, Prof. Florent Deisting, Director of Social Transition at TBS Education, holds a PhD in Economics and is renowned for his publications on financial markets and derivatives. He focuses on integrating Sustainable Development Goals into business school curricula to foster future leaders capable of driving positive change.

The convention comprised four sessions, each graced by prominent dignitaries from the corporate industry. The first session delved into the pivotal role of Environmental, Social, and Governance (ESG) factors in shaping the finance landscape. Emphasizing the necessity of prioritizing sustainability, panelists highlighted the dynamic evolution and increasing significance of ESG in finance. The session underscored the importance of governance in ensuring business sustainability within ESG frameworks and addressed urgent climate change challenges. Additionally, the significance of MSMEs adhering to sustainability norms for funding access and the expanding consulting opportunities in ESG were discussed. The panel emphasized the imperative for stakeholders to integrate ESG considerations into decision-making processes for positive environmental and financial outcomes.

In the second session, experts highlighted the critical role of financial institutions, particularly banks, in driving sustainability initiatives through green finance. Mr. Muneesh Kumar emphasized a bottom-up approach and the importance of ESG factors in mitigating balance sheet risk. Mr. Rahul Agarwal underscored the threat of climate change to global GDP growth and questioned investor willingness to accept lower returns for green investments. Mr. Nishant Bansal provided insights into India’s green financing market and discussed the roles of various ESG bonds in improving environmental performance. The experts collectively stressed the importance of financial institutions in fostering green finance for sustainable development.

The third session focused on the anticipated growth of investments in India’s real estate sector, particularly in office and residential development, over the next decade. Ms. Neha Kumar highlighted how technology integration is driving sustainability and efficiency in construction, leveraging India’s strong tech landscape. Climate finance initiatives like the Climate Bonds Initiative, championed by Ms. Kumar, aim to fund renewable projects and sustainable infrastructure for resilient real estate. Mr. Bhatiya underscored Tata Cleantech’s dedication to renewable financing and advocated for green building initiatives and eco-friendly materials, vital for promoting sustainability in construction practices.

The final session emphasized the limited adoption of ESG principles in India, despite global trends indicating their importance. It was noted that ESG investing in India remains in its infancy, with only 12 mutual funds collectively managing around 11 thousand crore in assets under management (AUM). The discussion highlighted the significance of recognizing all three components of ESG equally, with governance being particularly crucial within the investment domain. Additionally, the panel delved into how ESG practices reflect a shift in consumer preferences towards conscious purchasing decisions, underscoring a broader societal trend towards sustainability and ethical considerations.

Overall, the convention was a resounding success, providing valuable insights into the integration of sustainable practices in finance and fostering a deeper understanding of the critical role ESG factors play in shaping the future of the industry.

The Department of Financial Studies hosted memorable gatherings of esteemed alumni at its Annual Alumni Meets, held in both Mumbai and Delhi. The events served as poignant reunions for past and present members of the DFS fraternity, facilitating connections and celebrating achievements.