Top Indian B-Schools Like IIMs and Symbiosis Integrate Sustainability and Climate Change in MBA Programs
A serious threat to the world after COVID-19, there’s a big focus on environmental, social, and governance (ESG) practices in the present world. This trend is driving big changes in business education.
"Industries are now realizing that ESG challenges affect business finances," said by Kaushik Ranjan Bandyopadhyay, a professor at IIM Lucknow and head of the Center for Business Sustainability.
Business schools are responding quickly to this shift. More students want MBA programs focused on sustainability and responsible management as IIM Mumbai has changed its industrial safety course into an MBA in sustainability management, while Symbiosis Institute of International Business also updated its long-running energy and environment MBA which focuses on sustainability.
Growing Demand for ESG-Focused MBAs
As businesses adopt ESG standards, there’s a rising demand for skilled professionals trained to tackle ESG issues. Bandyopadhyay says a sustainability-focused MBA prepares students for unique challenges, unlike traditional management programs.
Some companies are already facing ESG-related pressures. ExxonMobil, for instance, encountered legal troubles for not showing environmental risks in its financial reports, leaving investors feeling deceived. This example illustrates the financial risks tied to ESG issues. Even well-known brands like Coca-Cola had to shut down facilities in India due to local water shortages, despite strong profits.
Seema Unnikrishnan, a professor at IIM Mumbai, pointed out that her institution’s sustainability program has evolved since its start in 2001. Initially focused on industrial safety and the environment, it now addresses the broader ESG framework, aligning with global expectations and the shift towards sustainable business practices.
IIM Lucknow, Symbiosis placements
Most schools offering sustainability programs see all their students getting jobs after graduation. Murthy said, "Sustainability standards after COVID-19 are very different, especially in India, with new rules like the Business Responsibility and Sustainability Reporting (BRSR) Standard."He also said that strong job placements for students in the MBA sustainability program have been seen in his institute.
At SIIB, the top 10% of students in 2023 received job offers with an average salary of Rs 16 lakh per year, while the median salary was Rs 13.5 lakh per year.
Many large consulting firms and other companies regularly hire from these programs. Maurya said, "We get regular feedback from these companies about the topics that should be included in our program, and we consistently update our courses to meet industry needs."
Follow PlanEdu for more educational updates
