The resultant ecosystem is expected to be a catalyst, motivating business owners to allocate capital towards established and emerging industries dedicated to sustainability
The Tamil Nadu Industrial Investment Corporation (TIIC) has taken a noteworthy step towards promoting sustainability. They have established an Environment, Social, and Governance (ESG) unit. This initiative is designed to provide crucial financial support to micro, small, and medium-sized businesses (MSMEs) committed to sustainable and environmentally conscious operations.
As part of this effort, TIIC organised a conference for the Council of State Industrial Development and Investment Corporations (COSIDIC), focusing on strategies to encourage MSMEs to prioritise sustainability. The discussions highlighted the importance of financial backing to enable these businesses to implement environmentally friendly practices.
TIIC is in talks with financial institutions to establish a green credit line for MSMEs to support sustainable and eco-friendly initiatives.
The envisioned comprehensive ecosystem is expected to serve as a catalyst, motivating business owners to allocate their capital towards established and emerging industries dedicated to sustainability. TIIC, renowned for its role in funding fixed assets establishment, is poised to play a crucial role in launching new industrial ventures and supporting the growth and modernisation of existing industrial units within the state.
This move underscores the organisation's commitment to fostering a sustainable business environment and promoting responsible corporate practices in Tamil Nadu.