ITC's ESG Framework: A Commitment to Community Well-being

Abstract

Environmental, Social and Governance (ESG) has become a key framework for assessing responsible business conduct, sustainability performance and corporate accountability. In India, ESG has gained importance due to climate concerns, stakeholder expectations, investor pressure and evolving sustainability reporting requirements. This study evaluates the ESG performance of ITC Ltd. over five financial years, from 2019–20 to 2023–24. It adopts a descriptive and analytical research design based entirely on secondary data collected from ITC’s ESG Fact Book, annual reports, sustainability disclosures, Business Responsibility and Sustainability Reporting documents and relevant published literature. The study applies trend analysis, percentage change analysis and comparative interpretation across selected environmental, social and governance indicators. The findings show that ITC’s renewable energy consumption increased from 9,806 TJ to 13,185 TJ, reflecting a rise of approximately 34.5%. Waste recycling remained consistently high, while groundwater withdrawal declined, indicating progress in resource efficiency. However, plastic packaging increased from 40,851 MT to 70,578 MT, highlighting a major sustainability concern. Socially, Climate Smart Agriculture coverage expanded from 7.37 lakh acres to 27.90 lakh acres, along with growth in livestock beneficiaries and water harvesting structures. Governance performance improved through stronger board independence, board attendance and code of conduct compliance, although women’s board representation remains limited. Overall, ITC shows measurable ESG progress, but challenges remain in plastic reduction, Scope 3 emissions, inclusion consistency and gender diversity.