skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Article related to:


Birla Carbon: sustainability & survival

Contributor, ANZ Institutional Insights

2023-01-14 05:30

Sustainable business practices may be the price of trade in the future, according to Surendra Goyal, Chief Financial Officer at Birla Carbon – leaving stragglers on the outer.

As extreme weather-related events are felt by many in our fast-changing climate, Goyal said he personally believes the market could soon decide for itself, leaving sustainable businesses with a distinct advantage.

“After a few years, [a business’ sustainability] could be… a question of your survival,” Goyal told Rajesh Gupte, Head of Corporate Coverage, India at ANZ on video.

“Whether you're able to sell your products, whether you're able to get supplies from vendors, whether you're able to get finance.”

It could even begin impacting merger and acquisition activity, Goyal said, hypothesising that in a case of two equal takeover bids, “shareholders would like to move to the company who are more sustainable”.

“I believe that in times to come as you grow, [sustainability] will become a hygiene factor,” he said.

Goyal made the comments as part of a conversation with Gupte and Stephanie Vallance, Director, Sustainable Finance at ANZ. You can watch an edited version of the conversation on video below.



Vallance said ANZ had an important role to play in assisting the sustainable transition by directing capital toward decarbonisation and supporting customers like Birla Carbon.

“In all of this we see significant commercial opportunity,” Vallance said. “McKinsey has estimated the net-zero journey requires over $US9 trillion in annual investment on an annual basis to get there by 2050.

“We’re currently falling about 35 per cent short of that.”

Increasingly, countries, governments and businesses are pledging to get to net-zero emissions.

Companies like Birla Carbon see value in adopting a formal green finance framework to fund projects which will help to meet their targets and have been sharing their sustainability reports for a decade now.

“We really want to achieve something,” Goyal said. “It’s not just good enough to do good, you have to do well, you have to track it, you have to manage it, and you need to publish it also,” he said.

For Goyal, sustainability is a big challenge for humanity, and Birla Carbon is doing its part.

“And we, Birla Carbon, having a more than a hundred years of experience, and as a [global leader], feel it is our responsibility to take this forward,” he said.

The conversation also touched on the state of the sustainable finance market in India. Watch the video above to find out more.

Birla Carbon: sustainability & survival
Geraldine Lim
Contributor, ANZ Institutional Insights


Sign up
Icon of ANZ logo coming out of an envelope

Receive insights direct to your inbox


Related articles

This publication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZBGL”) in Australia. This publication is intended as thought-leadership material. It is not published with the intention of providing any direct or indirect recommendations relating to any financial product, asset class or trading strategy. The information in this publication is not intended to influence any person to make a decision in relation to a financial product or class of financial products. It is general in nature and does not take account of the circumstances of any individual or class of individuals. Nothing in this publication constitutes a recommendation, solicitation or offer by ANZBGL or its branches or subsidiaries (collectively “ANZ”) to you to acquire a product or service, or an offer by ANZ to provide you with other products or services. All information contained in this publication is based on information available at the time of publication. While this publication has been prepared in good faith, no representation, warranty, assurance or undertaking is or will be made, and no responsibility or liability is or will be accepted by ANZ in relation to the accuracy or completeness of this publication or the use of information contained in this publication. ANZ does not provide any financial, investment, legal or taxation advice in connection with this publication.