As we bid farewell to 2023, it's an opportune time to reflect on the milestones achieved with our members and partners.
The year has been marked by innovation and steadfast collaboration in navigating the evolving realm of sustainability and responsible business. Here's a brief roundup of what we did last year:
Nationwide Initiatives – Awareness and Dialogue
- In our commitment to fostering knowledge exchange and collaboration, we conducted 15 events in 7 cities on topics related to sustainable and responsible business, bringing together industry leaders and professionals. The events served as platforms to facilitate discussions and collective efforts towards sustainability for Indo-German businesses.
- The FairVoice roadshow, conducted between July and August 2023, encompassed a series of events in India on the topic of grievance mechanisms. The regional events – conducted in Kolkata, Ahmedabad, Chennai, and Pune – shed valuable insights through expert discussions, company best practices, and interactive sessions.
To further shed light on the topic of grievance mechanisms, we published “Building Bridges to Supply Chain Integrity: A Roadmap for Implementing Inter-Company Grievance Redressal in India”. Developed with the Alliance for Integrity, the technical publication outlines steps for the development and practical implementation of supply chain-wide ‘inter-company’ grievance mechanisms in India.
- We also launched SustainNews – the Indo-German Sustainability Newsletter, a monthly newsletter to keep IGCC members and stakeholders informed about the latest news developments on sustainable business in India and Germany.
Recognising champions of responsible business:
- In its 2023 edition, SustainAwards recognised Small and Medium-Sized Enterprises in India making robust efforts in their responsible business practices. Applicants were assessed on their human rights strategy, measures to protect human rights and the environment, grievance procedure, and responsible finance through a rigorous multi-step process by a multi-stakeholder jury panel and subject matter expert. The award felicitation took place at IGCC’s 67th Annual General Meeting (AGM.)
Empowering companies through training and capacity-building:
Last year, IGCC SustainMarkets prioritised capacity-building through over 100 hours of training for German and Indian companies, including two batches of the six-week Supply Chain Due Diligence Manager Certification Course.
In September 2023, we visited Nairobi, Kenya to conduct a Supply Chain Due Diligence Workshop in cooperation with the Delegation of German Industry and Commerce for Eastern Africa, fostering partnership within the AHK Network.
Concrete and Practical Support for Our Members as Core Foundations
Recognising the value of awareness campaigns and events in fostering sustainability, we acknowledge the need from IGCC members for actionable solutions to implement sustainable practices. In response, we developed a range of new support offerings designed to drive positive change and empower our members to achieve their tangible sustainability and responsibility goals.
- Developed in collaboration with the Alliance for Integrity, the pilot programme FairVoice; the ‘Inter-Company’ Grievance Mechanism was introduced to support compliance with the German Supply Chain Due Diligence Act (LkSG). The grievance mechanism covers companies and their suppliers to help identify human rights, environmental, and business integrity issues in the supply chain. FairVoice was developed ‘by industry – for industry’, with the help of inputs shared by member companies and stakeholders from organisations and academia in multiple closed working group sessions.
The project was carried out in collaboration with the Business Scout for Developments programme which is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
- The Indo-German Chamber of Commerce in collaboration with Cargodian GmbH launched a digital solution for companies in India to modernise due diligence process management. Trustnet.Trade® is tailored to navigate the challenges faced by small and medium-sized enterprises and empowers companies to effectively monitor suppliers and business partners while proactively mitigating potential risks in the supply chain.
- Supplier Improvement Checks (SIC) was introduced as a service to help foster impactful risk management. SIC goes beyond a simple audit to offer a comprehensive supply chain due diligence assessment. Companies receive actionable recommendations to enhance their business partners' due diligence processes to foster a culture of continuous improvement and strengthen collaboration with suppliers.
2024 and Beyond
In 2023, we celebrated pivotal milestones, including the launch of our dedicated website www.sustainmarkets.in to keep you up to date with our upcoming events and activities. As we step into 2024, we express gratitude for the continued support of our member companies and partners. Together, we look forward to another year of shared innovation and positive impact.