CSR and ESG were once used interchangeably, and mostly referred to programmes for underserved communities (for example- water coolers in village schools). This information was typically kept in excel spreadsheets and was reviewed near reporting deadlines. However, net zero pledges are changing ESG reporting. Organizations must now continuously measure their carbon footprints because regulators, investors, suppliers, as well as millennial customers, want to know their green credentials. It's no surprise that ESG tech is a growing opportunity, with investors across the world queuing up to invest in ESG tech companies.
My guest today is Satish Ramchandani, co-founder of Updapt, which is hoping to capitalise on the growing ESG tech opportunity. Updapt seems to have right founding team; Satish is a chartered accountant who spent over 7 years at CRISIL heading business development for SME and CSR rating solutions, so he knows a thing or two about enterprise sales. Mithun, his cofounder, is an ESG expert and former Thompson Reuters ESG analyst. The company is funded by CIIE Accenture Ventures, has 50 employees, and currently serves over 40 clients in India and around the world.
We had a fascinating conversation about the following
1. How Satish started Updapt
2. ESG tech market opportunity
3. Complexity of measuring carbon emissions
4. Entry barriers and competition from ERP/other software solution providers
5. Choosing right ESG reporting software