NSDC to showcase outcome-oriented projects on Social Stock Exchange

11 Oct 2023 CW Team

The primary objective behind this move is to establish an alternative funding mechanism for NSDC's skill development initiatives. Currently, these programs rely on funding from grants, corporate social responsibility, and philanthropists, which are limited and input-based. By shifting the focus towards outcomes such as job placement and retention for India's youth, instead of traditional input-based approaches like training and certification, NSDC aims to harness private sector capital and expertise in socially beneficial projects.

Ved Mani Tiwari emphasised the importance of engaging socially responsible organisations globally, which are keen on investing in projects that offer social returns. He highlighted that these initiatives need not be large-scale endeavours but should demonstrate both financial and social responsibility. Tiwari noted that the global ESG market, encompassing environmental, social, and governance factors, presents a substantial $100 billion opportunity. He suggested that India could tap into this market and become a robust ESG player within the next five years by establishing a transparent project listing and reporting mechanism.

NSDC, in collaboration with the Social Stock Exchange, has initiated the process of identifying socially viable projects suitable for listing. The organisation plans to start by listing its renewable energy project, which aims to power public health centres in remote areas, along with its assistive technology project, complemented by the necessary skills, on the exchange. Additionally, NSDC intends to engage in discussions with influential entities such as the Reliance Foundation, Adani Foundation, and Bill & Melinda Gates Foundation, all of whom are interested in making investments that deliver social impact while ensuring financial returns.

The Chief Executive of the National Skills Development Corporation (NSDC), Ved Mani Tiwari, has announced plans to showcase some of the organisation's outcome-oriented projects on the Social Stock Exchange. Operating under the umbrella of the skills development and entrepreneurship ministry, NSDC aims to attract social investors, both domestic and international, through this initiative. The primary objective behind this move is to establish an alternative funding mechanism for NSDC's skill development initiatives. Currently, these programs rely on funding from grants, corporate social responsibility, and philanthropists, which are limited and input-based. By shifting the focus towards outcomes such as job placement and retention for India's youth, instead of traditional input-based approaches like training and certification, NSDC aims to harness private sector capital and expertise in socially beneficial projects. Ved Mani Tiwari emphasised the importance of engaging socially responsible organisations globally, which are keen on investing in projects that offer social returns. He highlighted that these initiatives need not be large-scale endeavours but should demonstrate both financial and social responsibility. Tiwari noted that the global ESG market, encompassing environmental, social, and governance factors, presents a substantial $100 billion opportunity. He suggested that India could tap into this market and become a robust ESG player within the next five years by establishing a transparent project listing and reporting mechanism. NSDC, in collaboration with the Social Stock Exchange, has initiated the process of identifying socially viable projects suitable for listing. The organisation plans to start by listing its renewable energy project, which aims to power public health centres in remote areas, along with its assistive technology project, complemented by the necessary skills, on the exchange. Additionally, NSDC intends to engage in discussions with influential entities such as the Reliance Foundation, Adani Foundation, and Bill & Melinda Gates Foundation, all of whom are interested in making investments that deliver social impact while ensuring financial returns.