ESG and Sustainable Agriculture : Focus on 'True Cost' of Agricultural Operations

Abstract

In every economy, agriculture is a central activity which has significant impact on environmental, social and economic aspects of the country. This article presents and highlights the ‘true cost of agricultural operation’, a system of compilation and aggregation of all relevant costs, including externalities, which not only limit itself to the financial metrics but go beyond the broader considerations of ESG factors and sustainability. To arrive at the true cost of agricultural operations, global concerns about ESG and sustainability aspects necessitate a transition from “incremental change” to “transformational change.”