Plachimada’s persisting water crisis, a saga that continues nearly two decades after the closure of a Coca-Cola factory, seized the spotlight at the recent Impact Investing Roundtable held at Accelerator, jointly hosted by Startupbootcamp and ImpactRoots at London Metropolitan University’s business incubator in Shoreditch.
The village of Plachimada, nestled in Kerala, India, bore the brunt of severe water shortages in 1999 when Coca-Cola commenced its extensive groundwater extraction for production. This triggered a long-lasting water crisis, leaving the local community in desperate need of clean water. The factory eventually shuttered its operations in 2004, a watershed moment for Plachimada’s residents.
ImpactRoots’ Co-founder Asheer Rahman passionately championed the cause of this Indian village, making a compelling case for impact investing.
Asheer Rahman’s heartfelt appeal for conscientious investment practices struck a chord with the roundtable attendees. It ignited a broader conversation about corporate responsibility and the imperative for sturdy governance and legal safeguards to uphold the rights of vulnerable local communities.
Distinguished panelists chaired by Saajid Sahabdeen, cofounder ImpactRoots, included Kevin Withane, Swati Pujari, Tony Tiyou, Yushan Chiu, Tom Dawkins, and Sam Ewuosho engaged in a robust discussion, engaged in a spirited discussion, ardently advocating for sustainable business practices while highlighting the far-reaching implications of the Plachimada crisis.
Impact investing, the central theme of the roundtable, emerged as the deliberate allocation of funds to enterprises that drive quantifiable social or environmental benefits while fostering economic growth. It epitomizes a profound commitment to making investments that facilitate specific social and environmental objectives.
The event aimed to galvanize investments that not only yield financial returns but also contribute positively to society and the environment.
Moreover, the roundtable deliberated on ESG (Environmental, Social, and Governance) investing, which entails channeling funds into companies aligning with ethical considerations regarding environmental stewardship, social responsibility, and governance standards.
The event served as a touching reminder of the power of impact investing to effect positive change in communities grappling with environmental adversity, epitomized by Plachimada’s enduring water crisis. It underscored the pressing need for responsible investment practices that place equal importance on financial returns and the welfare of both people and the environment
