Embedding Land Risk Management in Corporate Governance: Lessons for and from India
Ranjan Kumar Ghosh, Kiran Thete, Pranab Ranjan Choudhury
Contemporary corporate governance in India largely views land as a government responsibility although it is a key financial and social risk. In this paper, with an objective to distil principles and lessons for Indian corporates, we provide an overview of emerging global instruments around landresponsible investment frameworks, tools and guidelines viz. FAO’s VGGT, USAID’s Responsible Investment Guidelines, Interlaken group’s Guideline for Respecting Land and Forest Rights, Landesa’s Responsible Investment on Property and Land, IAWG’s guidance on responsible investment and the Social and Environmental Frameworks of World Bank and IFC. We also look at corporate initiatives around voluntary commitments and delve into cases involving delays and stalling of investments as a result of such risks. We contrast these cases with Indian good practices to underline need of land tenure diligence while arguing for embedding land risk management in the ESG-risk framework of Indian Corporate Governance.
Event: World Bank Land Conference 2024 - Washington
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