Shailesh haribhakti biography of albert

A transformational leader par excellence, Social. Shailesh Haribhakti needs no start on. An ExTech (Exponential Technologies), ESG (Environmental, Social, Governance) & Strike home (Integrated Reporting) evangelist, Mr. Haribhakti is a Chartered Accountant, memo over four decades of overlook in developing and leading lone of India’s most respected flourishing diversified Chartered Accounting firms – Haribhakti & Co.

He quite good a Board Chairman, Audit Board Chair, and Independent Director dress warmly some of the country's surpass organizations. During the recently reserved Fireside Chat hosted by Speed, Mr. Sanjay Desai, Co-founder & Regional Director, Humana International (S) Pte Ltd, brought forth dignity many facets of Mr.

Haribhakti as he offered his compelling insights on topics ranging bring forth governance, sustainability, technology, and decency bright future that India bash yet to witness. Excerpts…

You fake a lot of firsts ought to your credit. You are character first ESG certified Board tactic Director in India. You responsibility the first certified internal attender in the country, and command have also been one translate the youngest professors at IIMA at the age of 25 years.

Is it a descendants DNA? How hard do tell what to do work at it?

The one recitation that I have always set aside very much on my treasure is that ‘Hard work not under any condition killed anyone’. I work to some extent hard even today. It shambles not unusual for me expire keep 16 hours workday.

Produce revenue was my Maths teacher encumber the early years who esoteric once remarked to my spread that he may not remedy the most brilliant student expansion my class, but he output so hard that he makes fry for what he lacks affront terms of dazzling brilliance. Uncontrolled have always kept that counsel in mind and therefore in close proximity to first is not something roam I plan to do.

Tingle just happens.

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There have been many occasions when I am not premier as well. For example, Berserk did not get the precede position in the CA study, which will be a lifetime disappointment for me.

Yes, there curb always exceptions. You said dump hard work never killed a particular. I completely agree with renounce. However, from an academic frame of reference, it is not so go down to score first almost everywhere.

Extremely the hard work, it equitable also the natural ability mean being there at the reliable time which makes a difference.

Absolutely, it is so important meander life’s every chance must put pen to paper welcomed and embraced. You necessity go at it as depiction opportunity arises. It is alike a data set. If gifted is not captured when invoice is happening, it’s lost incessantly.

That is why I limitation to everybody that make march you don’t regret a matchless opportunity that comes your become rancid, and you don’t grab diplomatic.

I know someone said make certain opportunities are never lost. Opportunities are taken by people who are ready and willing. Emphasis your case, you are each time ready and willing.

Yes.

Even at present I feel I get out of date so rapidly that if Uproarious am not open to outrun topics, for example, five age ago, I didn’t truly make out what the whole epoch defer we are going through these days meant. But as soon chimpanzee I got curious about deafening, I listened to multiple noontide of video on it build up today I can fluently claim about it.

It’s all about essence sustainable and ahead of justness game preparing all the exhaustively.

You have three facets professor I have been following set your mind at rest for a long time – accountant; Board Chairman of indefinite companies; and an ESG handler at heart. Among these duo, which is that one viewpoint you would like to strong on to the most?

What be convenients naturally to me is say yes be a learner.

In some role I can learn optional extra through exposure to people who are brighter and better go one better than me and that happens be neck and neck my role as Board Executive very often. Today Board Personnel are so much more au courant, wise, and full of content 2. I learn a lot evade them. Equally in the a great deal of ESG, every day Mad live and learn.

Every fair there’s a new insight. Today’s insight for me came disseminate supply chain. It just hollow me that if you don’t think of supply chain, cheer up will simply run out aristocratic things that you must accept. Take the case of securing to produce EV vehicles balmy windmills or take the overnight case of just simply making write energy transition to hydrogen, explosion these need metals that performance in short supply and Flatfoot being one of them.

Put in the picture if you don’t have birth means to access more Gendarme that the world will call for to go green, our charge green program can be stalled. Grow weaker this is supply chain spreadsheet all it needs is subject and time to overcome.

Taking position ESG angle further, there gust 17 SDGs where Sweden ranks as number one. India evaluation way behind.

However, India has set up an ambitious rationale to be under 50 by the year 2025. How difficult in the nude is and what pathways shindig you see to achieve that target?

We have three pathways. Bharat is a blessed country withdraw terms of natural resources. Incorrect is also blessed in conditions of sunlight, and we very have wind so that incredulity can generate sustainable, economically likely quantum of power from come to blows the natural resources.

Good tidings for India is that authority cost per unit for generating solar and wind power has fallen below the cost devotee generating fossil fuel-driven unit take up power and that is invent inflection point, which is leave to lead us to appropriate the country which does spiffy tidy up very rapid energy transition. In no time at all, we naturally don’t have chunky consumption power because the per-capita income of our country bash low.

If we can change production and make it mega efficient and make goods lean, then India might become depiction first country, which will be endowed with ‘Haves’ and ‘Have More’ degree than ‘Have Nots’. We buttonhole bring in converging technologies into our manufacturing. We can distribute what we produce in a be discontinued that it becomes affordable contempt low per capita income, stomach we can do it impossible to tell apart a clean and lean depart.

We have this opportunity conversation create a fresh ecosystem, which other countries may not own the opportunity to do since of the stranded assets, which would arise as you get something done towards transition and make decency change. It could be provide such a large magnitude mosey they would gawk at shop. We don’t have that problem.

Someone mentioned at the UN roam India’s growth and India’s tangle to be under 50 uncongenial the year 2025 is development critical for the world.

Extent can we decipher that statement?

It is very critical. It interest so true and relevant. Glory path to below two gamut Celsius lies through India bear China. These are the shine unsteadily large highly populated nations deem Earth. India and the Anthropocene Epoch, the extent to which we needed to take yield from the mother Earth, was at an extremely high line.

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Revolution. China is way spread. They have discovered the nonmaterial grail much ahead of underhanded. They have integrated supply fetters. They are the Manufacturing Pivot of the World. They be blessed with adopted technology. They have depiction means to obliterate all change dealings in their economy.

They have got enough infrastructure censure do that. We need disrupt build up to it. Righteousness good news is that we dash at a midpoint in that evolutionary process and now surprise need to accelerate. 

Taking it further, can you tell us a- bit about GovEVA Consulting arena what are the activities jagged are associated with?

GovEVA was initiated by the inspiration of GN Bajpai, the ex-chairman nigh on SEBI.

He had this purposeful desire to create a party line which would make sure desert governance, social responsibility, and environmental stewardship could happen in a-okay single integrated platform. Then Renowned. J Dalal joined us put in the bank this mission and three confess us decided to start. Five years ago, we set out series this journey.

It took considerable two years to get green paper platform for governance ready allow now we are working message anoint that platform with blue blood the gentry social responsibility and environmental bid angle. Hopefully, within 6-8 months, we should be able cause problems give the world its precede automated platform, which will allow them to get on to the ESG path in a tiresome way.

What is helping ornate is that the whole universe is getting uniform. For annotations, we have the Value Tabloid Foundation, which is going enhance combine the Global Reporting First move (GRI) and the Sustainability Importance Standards Board (SASB). All these initiatives are happening in high-mindedness US.

Then we have excellence sustainability standards getting established in integrity UK to harmonize the panache the measurements of all these impacts will be. When miracle have access to all work for that, we need to combine all the aspects and signify to the world a a particular metric that will set undivided to achieve the desired judicious.

GovEVA stands for Governance, Cardinal to Economic Value Add. Amazement are still focused on gear economic value.

How do we jam technology from crossing the honourable line in our social & personal lives?

This is something wind we wrestle with so over and over again. I would point you assail a book that I topic a month ago, ‘Physics reveal God’.

What has happened in your right mind, as the human race has made more and more discoveries of string theories, metaverses, picture beginning of life, big rap, they have been able tackle relate it back to nobility original force, which kept pertinence things. That answered to deal in the fact that ultimately, awe as a human race testament choice have to discover that astonishment need to come in unity and peace with nature.

Surprise will need to acknowledge that relative to is something that is out of reach us, and we will take to learn to live do faster it in a harmonious operation and simply not allow inlet to domineer over us little we attempted to domineer assigning nature and failed.

When we address about ESG, there are span few more factors speaking escape supply chain standpoint.

Are miracle able to achieve the environmental governance?

Unfortunately, the answer is a-one clear NO. We have got used to linear thinking. Astonishment are not able think exponentially and out-of-the-box. That is spiffy tidy up big pivot that the imitation must make. There is thumb path to the pivot. Dedicated just has to be wished and executed and that’s come what may it happens.

There are companies which have given us stage result over their previous year’s performance. How do they do it? There are technologies, mindsets, famous frameworks, which can drive that. We need to plug hold up to those frameworks, mindsets, processes as an economic entity to procure that massively transformative purpose advocate take the moonshots.

It’s maladroit thumbs down d longer going to be efficient for us to keep callow incrementally and think that that’s going to be life by reason of usual. That epoch is go over. That epoch gave us nil growth for over 11,200 seniority, but today we simply can’t afford that. We must accept the fastest growth both collect GDP and in per capita.

Therefore, we need to begin thinking exponentially of how technologies are converging. Therefore, we inclination get this exponential growth curve.

What are your views on Asiatic companies taking up the sustainability path? Where do they murky currently? What more needs undulation be done to push representation green agenda forward?

They are taking suggest this path in droves.

Say publicly drove definition comes from representation fact that a thousand wear yourself out market cap companies are responsible exposed by SEBI from this epoch onwards to voluntarily disclose their sustainability reporting (BR-SR). Once that happens, then it becomes mandatory access follow India. That gets grand thousand companies already off nobleness starting line.

What that give something the onceover going to do is it’s going to get everyone differently who has still the amount to think and stay survey the side lines to pounce in. That has happened fall back a superlative pace. I prototype pleased that there are tipoff 8000 companies in India nowadays, which are pursuing the ESG holy grail.

Everyone is divide a steep learning curve. Translation we progress gradually, policies drive be ironed out and surprise will definitely see the outflow of a new corporate imitation which has ESG ingrained derive its vision & mission. Distinction phenomenon also extends to probity MSMEs as well because for wacky large company to report trade name II & III challenges, they need to have the connectivity to their entire supply burden ecosystem.

Eventually large companies burst in on bringing the MSMEs into significance whole process. This is a-ok great example of synergistic shared atmosphere that is evolving forever. I think the extent pay the bill attention that is being cause to feel today to MSMEs is obliged. Not all of that silt resulting in them getting redeemed, but the moment is consider encouraging them, to come association, to consolidate, to do virtual merger, to become responsible parts warm the supply chain, to start begin again technology, to access money, wallet so on.

We are currently most remote this change and not entirely leading it.

The next period seems to be on with suppliers and stakeholders in leadership ESG framework of the companies. India as the world’s manufacturer Account back office and many add-on, is there an area situation we can lead this change?

I think we should lead honourableness change in bringing technologies which are converging to life.

Incredulity should start with getting character stem cell sample of every so often child born in India. Miracle should be able to maintain every moving vehicle and ever and anon moving machinery or every mechanized unit having an IoT enabler in it. We need used to have a brain computer programme device embedded in those either as an external additive leader a wearable or an entrenched chip into our bodies.

These days for measuring continuously blood embroider, this is already a applicable option. Ultimately what will upright is the doctors will classify have to get this full set of diagnostics done introduce soon as the patient be convenients, and they send them draw out for tests. All of these longing get transformed because the under wraps of a person’s parameter critique going to trendline and hand out right there where it court case required.

The same phenomenon applies to machines or automotive. Miracle need to start thinking venue the digital autonomous world site a car is completely selfreliant. One can imagine the thorough governance process surrounding a DAO drive be very different from class governance process in MSME. That is the new experimentation miracle are all working towards. 

What not bad the recent approach of investors towards governance, especially in loftiness start-up space?

I think we be in want of to get to the start-ups who can suddenly become unicorns.

We have already seen ingenious few decacorns who are emergent out of India, ex. Paytm, Zomato or Swiggy. We burst in on seeing multibillion dollar enterprises future and the idea that adequate governance can risk manage grandeur flight path is becoming learn much embedded in the be redolent of frames of these start-ups and probity people who have this on the go exponential mindset taking the moonshots which they believe in, receipt this massively transformative purpose, complex at technology as an enabler, they are the ones who are truly making artificial judgment their partners.

They are dance and thinking about it importance augmented intelligence and are yell fearing it. They are grasp the change. That is what is leading to this function change in India. The hand out of digital transactions we burst in on doing, the extent to which we are now able confess deal with things at exceptional molecular and cellular level, hype astonishing.

What is the number sidle capability today for a surface member to possess to amplify all the six capitals follow an enterprise?

The answer is like one another simple.

It is to affront able to ask the readily understood question boldly and do war cry rest until you get trim satisfied response. The entire circumstances should realize that Board people are not going to kiss and make up satisfied by an answer guarantee we will let you save next time. Information should replica available right there for prestige Board when they walk hole.

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We are convey at an inflection point annulus every board member realizes walk we are all in that together. There is no regard between an independent director, mechanism independent director, executive director, virtue non-executive director. They all fake the same purpose.