BHUBANESWAR: The Indian Institute of Technology (IIT), Bhubaneswar is organising the ‘First International Conference on Sustainable Finance: Innovations and Strategies for a Responsible Future’, which was inaugurated on December 6, 2024.
The three-day conference is being organised by School of Humanities, Social Sciences and Management of the institute, in collaboration with National Stock Exchange (NSE) of India and supported by Financial Planning Standards Board (FPSB) of India and National Bank for Agriculture and Rural Development (NABARD).
The conference aims to address the pressing global challenges such as climate change, resource depletion, and social inequality by exploring how finance can become a tool for sustainable and inclusive growth.
During the inaugural session, experts from finance sector emphasised the importance of sustainable financial practices and their implementation to support and safeguard business organisations and strengthen the stakeholders including the common man.
Dr. Naresh Chandra Sahu, conference convener at IIT Bhubaneswar, emphasised the necessity of disseminating financial literacy and personal financial education to eliminate financial inequity, fostering a sustainable economic future.
The NSE and IIT Bhubaneswar will confer the Best Paper Awards for the exemplary scholarly presentations, he said and declared a collaboration between IIT Bhubaneswar and FPSB India.
Dr. Dukhabandhu Sahoo, Head of School of Humanities, Social Sciences and Management, IIT Bhubaneswar, welcomed the participants.
In his address, Prof. Shreepad Karmalkar said the importance of studies related to humanities and social sciences has increased in IIT education system in the recent years, creating an ecosystem for entrepreneurship.
Course on research and entrepreneurship
IIT Bhubaneswar has introduced a course on ‘Introduction to Research and Entrepreneurship’ to students to become entrepreneurs. Knowledge on sustainable finance will help students gain insights about risks and opportunities of entrepreneurship, he said.
Chief speaker Dr. Madhusudan Sahoo, former IBBI Chairman and whole-time member of SEBI, spoke on various factors affecting the lifespan of a business organisation. He threw light on the role of corporate governance in safeguarding the interest of companies and stakeholders, and ‘Freedom to Exit’ for weak organisationd.
Krishnan Mishra, CEO, FPSB India spoke on the importance of ‘People, Planet and Profit’ in financial sustainability.
Financial practices have moved from risk management to sustainability, which needs to be adopted by organisations, he said.
Sudhansu Mishra, Chief General Manager, NABARD, highlighted the key role being played by different beneficiaries and women in attaining financial sustainability in the country, citing various initiatives of NABARD.
He stressed on the implementation of the sustainable financial policies at the grassroots level, including the informal sector. He advocated that industry-academia collaboration should come up with innovative solutions.
MoU signed
An MoU was signed between IIT Bhubaneswar Research & Entrepreneurship Park (IITBBS REP) and FPSB India for collaboration. Dr. Soobhankar Pati, CEO and Independent Director, ITBBS REP and Krishnan Mishra, CEO, FPSB India signed the MoU.
Dr. Nihar Ranjan Jena, co-convener of the conference proposed a vote of thanks.
During the three-day conference, the participants will present papers related to sustainable finance and delve deep into various aspects and prospects of the subject.
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