“We need to introduce ESG as a commercial concept”, Says Christian Benigni, Co-founder & CEO, MyyTake ESG Global

In an interaction with Dr. Annurag Batra, Chairman and Editor in Chief, BW Businessworld and Exchange4Media, Christian Benigni, Co-founder & CEO, MyyTake ESG Global, speaks about sustainability as a part of business practice, ESG compliance, the Role of CSR today, and much more.

Dr. Annurag Batra: What has changed for the business world and sustainability world in the last 18 months?

Christian Benigni: Covid has brought the message of interconnectedness home to everybody. We are equally connected and vulnerable at the same time. Environment, Social, and Government (ESG) issues must be taken seriously. If there was a positive to Covid 19, it would be this.

Dr. Annurag Batra: Why do you have so much hope from the ESG movement at this point in time?

Christian Benigni: The businesses now produce much more data. The supply chain must be rethought, procurement must be rethought, if we bring all these together, ESG can become so much more than a compliance tool. We need to avoid greenwashing at a larger scale, and we need to introduce ESG as a commercial concept. The companies, governments, and social sectors have to do everything available to attract the best people available.

Dr. Annurag Batra: Give us the top five ESG trends across the globe, and why India can be a potential leader in contributing to this ESG and sustainability movement?

Christian Benigni: Connections between commercial interests and better outcomes must be explored by governments and the industry. If this is done, there is a new industry to be developed. Anybody who can be a first mover in Sustainable Development Goals (SDG) attainment and ESG into mainstream business practices is going to be leading in this particular industry.

Dr. Annurag Batra: Why do you think India has an important role to play in this?

Christian Benigni: India is a socially diversified economy, has made strides in the right direction, and has a good Corporate Social Responsibility (CSR) network in place. If we promote these initiatives further, India can play a leading role globally.

Dr. Annurag Batra: What is Myytake Global planning to do in the future, and what are your plans specifically for India?

Christian Benigni: Myytake’s business model comes at a very crucial moment in time. The industry is producing data required to take steps in the right direction. Myytake started as a communications company, has made a footprint of its own. It has made strides in promoting ESG related causes and creating awareness. The way forward now is to see how this can be put to good business use, by connecting the capital to better outcomes. If we can create a 360-degree company touching on all of those aspects, there is a good chance of that company becoming a leader in its area.

                                                                                       Myytake Team

Dr. Annurag Batra: Funding and impact measurement is at the core of every business. How do you plan to execute both effectively?

Christian Benigni: The solution I believe is when you can relate responsible outcomes to traditional financial ratios. If you make sustainability a model for how you create value for shareholders and stakeholders, you avoid artificial conversations and create opportunities for businesses to strive once sustainability is fully included in business practices.

Dr. Annurag Batra: How do you integrate balance sheets in a more sustainable manner. How will sustainability become a part of the financial matrix of the company?

Christian Benigni: The opportunity lies in commercialising sustainable outcomes. At this moment of time, sustainability is self-reported by corporates, but very difficult to compare what other companies do in the same space. If you can create financial information and updated information on sustainability that is comparable, you create a velocity of change. Very quickly the financial industry will find pricing models to relate to those arrangements.